If you want to know everything about the new cryptocurrencies in the market, you have come to the right place. Today we will review Saxo Coin.
What is Saxo Coin?
Saxo Coin is a new cryptocurrency which has appeared on the market. It is a decentralized and encrypted currency and it uses the blockchain technology to secure the safety of the transactions made by its users within a P2P network. Saxocoin is a proof-of-stake cryptocurrency and it lets its users gain money by holding the cryptocurrency and staking.
This cryptocurrency does not have centralized servers and it lets users transfer cryptocurrency all over the globe fast. The only thing that they need is having a smartphone and a fast internet connection.
Unfortunately, we did not find much information about the team behind Saxocoin, as the same does not give much information about the company, only the product. The only information that we found is a Hong Kong address.
How Does Saxo Coin Work?
Saxo Coin works just like many other cryptocurrencies. You can use it to transfer money, buy and sell goods and services. It uses the Script algorithm and the full supply of tokens is 27 million SAXO tokens.
This cryptocurrency also has an investment program, in which you lend money to the company and then you will be able to get a return on investment for the money that you have lent. The return on investment will vary depending on how much money you invested:
- Plan 1: $100-$1000: 45% monthly, return in 299 days.
- Plan 2: $1010-$5000: 45% monthly plus 0.10% daily, return in 179 days.
- Plan 3: $5010-$10,000: 45% monthly plus 0.15% daily, return in 139 days.
- Plan 4: $10,010-$100,000: 45% monthly plus 0.20% daily, return in 120 days.
You can also use this cryptocurrency for staking. The return will be 10% per annum for simply holding Saxocoin.
How to Invest in Saxo Coin?
If this article got you interested in investing in Saxo Coin, you can invest in this cryptocurrency by buying its SAXO tokens during the Initial Coin Offering (ICO). The ICO has already started and it will last until March 12. Only 6 million SAXO tokens will be sold during the ICO.
The price per token during the sale will vary. If you buy the tokens as soon as the sale starts, you will be able to acquire them for $0.75 USD each, while at the end of the sale you will be able to buy the same token for $1 USD. The price will rise 5 cents every time that a million tokens are sold.
If you participate in the affiliate program of the platform, you will be able to receive from 2% of 5% of the tokens bought by the person that you referred to the site, so it can be very profitable to find friends which would be willing to buy SAXO tokens from this company and earn a share of what they bought.
The Saxo Coin Verdict
Is Saxo Coin a good investment? It hardly is. Unfortunately, this is a very common cryptocurrency. It does not have any interesting feature that other similar cryptocurrencies do not have and it does not have a stellar marketing or business plan. Because of this, Saxocoin is definitely not the greatest cryptocurrency that you can find in the market.
While, if this company were to be successful, you could get a good return on investment, this will probably not happen because this company will be buried in a sea of cryptocurrencies which do basically the same things as it does. Unfortunately, Saxo Coin is far from being special or even interesting for you.
The choice is all yours, but it is our verdict that it would be a good idea to look for another cryptocurrency instead of this one. You can find better options out there. If you want to more know more about instead of Saxo Coin, you can always choose to browse our blog and look at the interesting investments that we have here.