Lightcash promises to offer fast, legal, and secure international crypto to fiat transactions. Find out how it works today in our review.
What Is Lightcash?
Lightcash, found online at Lightcash.io, claims to be the first legal and secure international system for exchanging cryptocurrencies for fiat.
A token sale for Lightcash coins begins on March 4, 2018.
Overall, the goal of Lightcash is to give users a mechanism for convenient transactions. Users can hold Lightcash coins in the Lightcash financial marketplace, then transfer tokens into fiat currencies or cryptocurrencies.
The Lightcash financial marketplace, however, will be much more than just a cryptocurrency exchange. The developers are planning other features like a crowdfunding system and a private online marketplace, for example. The company also mentions a special token that represents ownership in a Russian mining company.
How Does Lightcash Work?
Lightcash aims to create a financial marketplace that offers “solutions for integrating existing world economies with decentralized economies.” The goal is to create a system to easily transfer fiat currencies to cryptocurrencies and vice versa, all while using Lightcash coins as an exchange mechanism.
Lightcash will offer all of the following products and services through its financial marketplace:
Foreign Exchange Trading:
Lightcash will offer an exchange for trading currency pairs, including major fiat and cryptocurrencies. Mentioned currencies include USD, RUB, PLN, UAH, BTC, LTC, DOGE, ETH, ZEC, XMR, KICK, ETH, BCH, and more.
Lightcash will have a crowdfunding platform that allows users to launch their own cryptocurrencies as a crowdfunding mechanism. Users can launch a mini ICO and create their own customized internal currency.
Deposit Accounts That Pay Interest:
Lightcash users can deposit cryptocurrencies into interest-earning accounts.
Private Online Marketplace:
Lightcash has a private online marketplace where users can buy or sell goods and services using their project’s customized currencies.
Lightcash users will be able to use their cryptocurrency to purchase goods and services online and offline with the Lightcash Light Pay API.
Virtual And Plastic Cards:
Lightcash will offer virtual and plastic payment cards, including physical cards with contactless payments.
International Payment Systems:
Money transfers can be made via the SWIFT and SEPA international bank transfer systems using Lightcash.
Lightcash will offer corporate accounts to enterprise users, including accounts that can receive payments via QR codes.
After a Lightcash account is opened, the platform will automatically create an electronic wallet and a “mobile phone token account”. Users can then top up their electronic wallet with tokens using bank cards and other traditional payment transfer methods.
You interact with all of the products and services above through your Lightcash mobile app.
How Do Lightcash Gold Backed Cryptocurrency Tokens Work?
Lightcash will have a cryptocurrency called Lightcash Crypto Gold, or LCSH, which is a cryptocurrency pegged to actual, physical gold.
LCSH is designed to be a stable cryptocurrency. 1000 LCSH tokens will be pegged to the value of 1 gram of gold.
LCSH tokens are more than just a peg to physical gold: they also represent a stake in a gold mine. By buying LCSH tokens, you’re purchasing an ownership share in a gold mining company called Lapri Mining Company LLC. That company mines physical gold at an active deposit.
Lightcash LCSH ICO Details
The token sale for Lightcash coins is scheduled for March 5, 2018 (pre-sale) and March 12, 2018 (main ICO).
The beta version of the platform is scheduled to launch in March 2018.
Lightcash Tokens are separate from Lightcash Crypto Gold Tokens, which represent an ownership stake in a real gold mine. Lightcash tokens are utility tokens for the Lightcash financial ecosystem. They’re represented by the symbol LCCT. LCCT tokens are ERC20 tokens on the Ethereum blockchain.
Of the total supply of 210 million tokens, 25% are reserved for the pre-ICO, 60% for the main ICO, 10% for project team ownership, and 5% for advisors and escrow.
Who’s Behind Lightcash?
Lightcash lists Vyacheslav Vokin (CEO), Alexey Kholmogorov (Co-Founder), Mikhail Maksimovich (CMO), and Artem Yakovlev (Team Leader) as key members of its team.
Vokin has a background in law and founded his first business in 2003. Prior to co-founding Lightcash in June 2017, Vokin operated The Hither Magazine.
Kholmogorov, meanwhile, is a shareholder of Lapri Mining, LLC, a company he founded in 2016. Today, that mining company is actively engaged in extracting ore, sand, and precious metals.
Lightcash, also known as Lightcash Blockchain System, is a multi-featured financial ecosystem that aims to accomplish a wide range of goals. The company mentions a mining company, for example. You can purchase Lightcash “gold tokens” to buy an ownership stake in that mining company, which apparently mines real gold, ore, and sand somewhere in Russia. The company also mentions a complete financial ecosystem of products and services, including foreign exchanges services, a marketplace for financial services, and more.
In any case, Lightcash’s token sale is underway throughout early March 2018. The company plans to launch a beta by late March.
To learn more about Lightcash, visit online today at Lightcash.io.