What is myMincome?
MyMincome is said to be a global basic income that anyone can use. There are said to be monthly airdrops, investment funds and a peer to peer based marketplace to buy, sell and trade. You can read the whitepaper on the company website and the ICO pre-sale starts on the 9th of March 2018 at 14:00 UTC. That is pretty much in a little under a day and a half from the time this was written.
INC is the token used by the platform and it is a digital currency that has the main goal of providing a simple solution for making payments online and shopping as well. They are also devoted to improving the experience of social media apparently as well. They claim they will distribute a global basic income that will be used by everyone.
How Does myMincome Work?
The company has different services the offer to the users of the platform:
The payment processing part of the platform is said to work directly as a browser payment plugin. They claim that this is the easiest way to send coins or pay other users and online shops.
Index Fund Investment:
Their investment index fund has ten of the top digital currencies. They are determined by their market capitalization and monthly rebalances apparently. It’s said the way they do it will reduce the risk of losing money while at the same time making for higher profit.
The marketplace is called Stake INC and apparently gives away a 10% monthly airdrop from the company. You can then lend money on the marketplace as well as gain weekly interest, buy, sell and trade other cryptocurrencies. And finally, you can purchase goods and services on the market as well.
Basic Income Raffle:
Apparently, each customer has the ability and chance to win money by getting in on their raffles. Every winner will get an Ether each month for a full year. And the first raffle is promised to start in June.
The idea behind the platform is said to guarantee that Basic Income will give out monthly payments on the blockchain. Users and people holding stakes in tokens can get in on the raffles which gives them a single ETH each month for a full calendar year.
You can apparently use the tokens in several ways in the near future. I’ve already listed them. They are working on the applications and plug-in software for social messenger integration. They want to give users the easiest platform to trade, buy, and sell from.
Of course, it’s a completely decentralized market. It’s based on blockchain technology and is said to be one of the easiest platforms that anyone can use. They also claim to have had an amazing return on their index fund in 2017.
The system is decentralized, worldwide and wants to stop the control that stems from different governments of the world. They use blockchain technology and want to make it possible for you to operate free and clear from any authority force of any kind.
myMincome ICO Conclusion
The company runs on the blockchain technology and will start with a pre-sale of ten million coins, 60,000,000 being the total number in the end. This is all standard across nearly every type of cheaply run ICO. There is also no disclosure on the team’s identities or where the system is based out of, except an address at the bottom claiming Switzerland.
Unfortunately, that is a commonly used country by fraudulent ICO campaigns. The final verdict is to not invest in myMincome until you can find out more about the team behind the scenes. Call it paranoia, but it’s smarter than throwing money blindly at unknown entities in the cryptocurrency space with a digital currency that can’t be tracked or traced.