ROSCAcoin is a decentralized blockchain supported Cryptocurrency that aims to bring together all financial sector stakeholders under one ecosystem. Through this, users form a collaboration that enhances better financial solutions by eliminating the increasing rates of borrowing and better investment options.
The platform seeks to make use of the funding they would obtain from the sale of tokens (RCA tokens) for innovation team compensation, office expenses, and marketing activities, other prospective projects and contingency reserves. On the other hand, interested individuals can participate through the purchase of the RCA tokens that they can later exchange for ROSCAcoin. The exchange also extends to other products and services available on the platform.
Furthermore, the platform claims to have plans in place to support other cryptocurrencies such as Bitcoin, Dash, Dogecoin, Ethereum, Ethureum Classic, Monero, Ripple, Wave, and Litecoin. Users can start their ROSCA lending pools on the smart contract technology and add other members so that they start transacting. However, the one who takes the initiative to sign up the pool automatically becomes the pool leader. As a pool leader, one has to invest a one month’s contribution inform of collateral and another one as their monthly first round contribution. The guarantee acts as a form of protection to the pool participants. In this way, the leader stands to gain from full amount payments with incentives.
In case things don’t work out at the completion of the pool closure period, the leader has to compensate the remaining participants. However, this can also work out better if the pool leader has an insurance cover. In this case, they get to deposit 10% of monthly collections to the insurance pool on the platform. Leaders come up with the specific rounds of operation with eight as the minimum. They can also have up to three pools.
Since the leaders set the rules, they have the authority to invite participants through their unique codes and get to earn from special ROSCAcoin incentives every time someone uses their code. Participants get to receive their benefits at the pool completion and closure. All this depends on their bids on the pool fund interest.
Should I Join ROSCAcoin?
The ROSCAcoin platform contains multiple financial solutions that seek to meet all your needs. From lending, credit score, merchant program, charity platform and lucky draws, you can be sure to get the best for you. Also, to ensure participants get protection from corrupt deals, the platform has standardized regulations in place that each member must flow.
Members also provide all their details during the verification process that would ensure fast location if they disappear after payouts. Additionally, the insurance option brings some relief with interests on top for participants, so if things go wrong from the leader’s side, you get compensation.
Fraudulent members get blocked on the system and other users receive notifications to warn them against conducting business deals with such a person. Therefore, from all angles, you are assured of your safety as a user.
However, money matters have always been complicated, and with the chances of some people disappearing with funds, you cannot afford to invest all your money. Therefore, we advise you to trade with caution.
The financial sector needs some decentralized solutions in investments and borrowing structures, ROSCAcoin offers that to its users in the blockchain ecosystem. Overall the platform seems well organized with all relevant information in place, thus worth your consideration.