What Is LiteBolt?
Litebolt is developing a diverse suite of technologies related to cryptocurrency mining and investing, including dedicated computers for mining, algorithms for automated trading, a cloud mining service, an exchange platform, and a debit card. The company is also releasing its own cryptocurrency, the LBT coin, which will be required to purchase most of its services.
While Litebolt is entering a crowded market and has many direct competitors, its wide array of products and services make it unique, and its highly skilled international team has demonstrated great ambition.
Who Is Behind LiteBolt Crypto Investment Fund?
Litebolt's team is based on three continents, in China, Britain, and the United States. The executive team is relatively small, with only six men, but they have decades of collective experience with major finance and technology companies such as J.P. Morgan, HSBC, Samsung, and Nvidia.
Litebolt currently has only about 5,000 followers between its Facebook and Twitter pages, and the company hasn't been covered by many online publications aside from a few sites that aggregate information about ICOs. However, the company is still very early along in its roadmap, and its popularity will surely grow as its ICO progresses and it begins to release its myriad products.
LiteBolt ASIC Miner Development Products
Litebolt is simultaneously developing several different products related to cryptocurrencies, including hardware, software, and financial tools. Their products include:
Litebolt X1 – An ASIC (application-specific integrated circuit) designed to execute the Scrypt algorithm, which is used to mine several currencies including Litecoin and Dogecoin. The company claims that the X1 will be both the most powerful and energy-efficient Scrypt mining tool on the market. A total of 9,000 will be built during the first round of production, beginning in October 2018.
Automated trading algorithms – The company is developing several algorithms for automated day trading, which can help investors both identify opportunities and guard against losses. Like many of the company's products, the algorithms will only be available for purchase with LBT coins.
Cloud mining contracts – Litebolt plans to create their own large cloud mining operation, and customers will be able to purchase a share of its income using LBT tokens.
Betta Litebolt debit card – The company is issuing its own debit card that customers can use to accept their earnings from cloud mining contracts; customers also have the option to receive payments into an account, but since it can be readily used in brick-and-mortar locations, the debit card will offer much more convenience and liquidity.
LiteHash mining pool – Customers who mine using their own hardware can join Litebolt's mining pool and share profits gained from one of several algorithms.
Exchange platform – Litebolt also plans to create its own exchange service, which it claims will host at least 40 cryptocurrencies. Fiat currencies won't be supported at its initial release, but the company hopes to add them in the near future.
LiteBolt LBT Token ICO Details
The LBT token's ICO is running during the second quarter of 2018; oddly, neither its website nor its whitepaper mention specific start and end dates for the sale, but at time of writing (June 2018), its private pre-sale has just finished and the first of its four public phases has just begun.
A total of 84,000,000 LBT tokens have been created, though only 37,800,000 will be released to the public. During each of the four public phases, 8,400,000 tokens will be sold; they cost $0.70 apiece during the first phase, and will cost $0.10 more during each following phase. In the private pre-sale, 4,200,000 tokens were sold for $0.50.
The ICO is closed to residents of the United States, China, South Korea, and Singapore, but residents of these countries should able to purchase the tokens once they are available on exchanges in late 2018.
Litebolt has a strong and diverse set of products, but it has many competitors, especially for its exchange platform and mining services. Even if only one or two of its services is widely successful, the company could still become an important force. Investors curious about the LBT token should observe the popularity of Litebolt's various services, since they'll directly determine the demand for the token.