What Is SpotCoin?
Spotcoin is new cryptocurrency exchange created in Georgia (the country, not the American state) that you will be able to find on the market soon. The company has an over the counter (OTC) clearing house that provides some liquidity between fiat currency and crypto so you can exchange them both easily.
The company is also invested in mining operations and in education projects in the country of Georgia. Spotcoin’s main objective is the creation of a global digital exchange that can be able to bridge the gap between this emerging and profitable new market that is the crypto world and the banking sector, which is more traditional.
How SpotCoin NEO Crypto Exchange, Trading & Payments Works
Spotcoin will be used to make banking services accessible for everyone in the world. The company already supports 10 countries and has a trade volume of over $10 million volumes. The company intends to create and fortify the economic ties between the countries situated in the Black Sea, China and Europe, which has the potential to transform Georgia in a gateway for blockchain investments in the whole region.
The main values supported by this company are reliability to ensure that everyone can always be content with the platform, integrity to treat all the users with respect and transparency, something that is absolutely vital in any blockchain and cryptocurrency because the users expects more transparency than in traditional banking.
Who Is Behind SpotCoin?
Spotcoin was created mainly Georgian blockchain experts. The two co-founders of the company are Andrew Thornhill and Guram Rukhadze, which created a partnership to make Spotcoin a reality. Timothy Gick acts as the Chief Executive Officer (CEO), Sean Mulcahey is the Chief Strategy Officer (CSO).
Other important members of Spotcoin are Nelly Gvadzabia (director of administration), Ketevan Pophadze (marketing manager), Nikoloz Gugulashvili (information technology manager), Zaza Sharmanashvili (chief accountant), Byron Yoshida (ICO program manager), Tamar Nozadze (ICO program coordinator) and others.
SpotCoin Token ICO Details
Unlike most ICOs, Spotcoin’s ICO will have its private sale and its public sale happening at the same time. The private sale starts on April 10, while the public one starts on May 1. Both of them will be only finished in June 1.
The SPOT tokens will be based on the NEO blockchain and will use the NEP-5 standard. The choice for NEO was because NEO is an open source project that does not look for profit and is community-based. Because of this, it turns out that it is a great choice for Spotcoin’s vision.
It is important to know that you have to participate in a Know Your Customer trial before you can invest because the company is vehemently against money laundering practices, so you have to identify before you are able to invest in this company.
The tokens can be a good investment because they are able to pay dividends to the holders which are equivalent to 51% from the exchange fees of the transactions made using Spotcoin. You can pay using GAS, NEO, BTC and SIB or if you want to use fiat currencies, USD, EUR or MAsterCard and Visa cards.
If you are based in Georgia, there is a good chance that Spotcoin might look like something interesting for you. On the other hand, if you are not, then the chances that you might want to use Spotcoin are considerably lower because