There are plenty of ICOs going around all the time. To help you find the best investments, we search online for different ICOs that result in profitable investments. Today we are going to review a Japanese company called Speed Mining Service, or SMS.
What Is Speed Mining Service?
Speed Mining Service is, basically, a big cryptocurrency mining operation. Their objective with the ICO is to raise funds to buy more hardware and therefore, power, to mine more coins and receive more profits. If you invest during the ICO, a quantity of the money received by Speed Mining Service will be yours.
More than in other ICOs, Speed Mining Service’s ICO is all about investing to profit. The main service of this company is, in fact, to provide cryptocurrency that can be used, instead of other kinds of services, like most start ups.
How Does Speed Mining Service Work?
Basically, you have to buy tokens to finance the construction of the mining system. Several mining computers will be bought with the money raised from the ICO and then the tokens will work like shares of the profits made from mining cryptocurrency.
If one investor buys 10 tokens, he will receive 10 shares of the profits monthly. This way, the investor helps Speed Mining Service to fund its operation and receive monthly payments in return. 20% of the money will be used to improve the system, making it sustainable.
After the service is active, you’ll also be able to exchange your tokens with other people in exchange for services or products.
How To Invest In Speed Mining Service?
To invest in Speed Mining Service, you have to buy their tokens. A single token costs 20,000 yen (about$175 USD), but there are bonuses that could be achieved during the pre-ICO or if you buy more tokens.
Until November 10, if an investor buys 1-9 tokens, you get 3% more;
- 10-49 tokens for 5% more;
- 50-99 tokens for 10% more;
- 100 or more tokens for 15% more;
- If you buy them from November 11 to December 31:
- 1-9 tokens for 1% bonus;
- 10-49 tokens for 3% bonus;
- 50-99 for tokens for 5% bonus;
- 100 or more tokens for 8% bonus.
Speed Mining Service Verdict
It still early to say with certainty if Speed Mining Service is a good investment or not, but it does look like a promising investment. The returns of the investment might not be that fast, especially because their system will only be implanted in March 2018 if everything goes according to plan, but it looks like a good bet, especially considering that the Japanese government ensured electrical support to the company, making it cheaper for it to work.
If you want to invest in Speed Mining Service, though, you better be a patient investor. Profit will come over time, especially if you did not invest very much during the ICO. For a slow, but steady investment, this might a good choice.