One major complaint of cryptocurrency holders is the difficulty of conversion to local currency. For many, the hassles of going through a major exchange, navigating the technical requirements of the transfer, and paying an often-significant fee for the exchange is a major barrier to further investment. Thus, the need for a simple system to convert cryptocurrencies into local mediums of currency/exchange has never been higher.
Tihosay attempts to provide such a simple system. Two main offerings of Tihosay will be discussed in this informative guide: the Tihosay VISA card, and the Tihosay exchange. Additionally, this guide will cover the ICO currently being held by the company, as well as the ways that investors can get more involved in the process.
The TIHOSAY Crypto Payments VISA Card
Cryptocurrencies in the form of a card have always been a long-term goal of ambitious developers. Tihosay is taking a shot at their own version of the coveted card with their Tihosay VISA. The card is supposed to be usable in the same way that fiat money, or paper money issued by the government, would be used.
One point of confusion, at least on the main page of their website, is the exact way that the cards purport to function. It is likely that the cards would be the same as regular VISA cards, but would be loaded with cryptocurrencies which are then converted to cash. This could spell trouble for the savvy investor, especially if they are skeptical of mixing stable fiat currency with unstable cryptocurrencies.
A notable benefit to the concept of the Tihosay VISA card, however, is the company’s promise to make it easy to “send your assets” as currencies in the consumer’s country of choice, even if it is a country other than the one they initially lived in. This could be beneficial for traders of currency who seek to avoid the significant fees and red-tape surrounding conversion by traditional means.
The TIHOSAY Exchange
In another effort to make it easier for consumers to convert their cryptocurrencies to cash, Tihosay also plans to offer their own exchange. The details are sparse, but the idea is clear; Tihosay wants to provide a “less costly” exchange that allows users to quickly convert their cryptocurrencies to different currencies.
But the operational release of the exchange is projected to happen towards the end of the roadmap, information is less available than on the Tihosay VISA card. Consumers interested in this aspect of the startup should conduct significant research before jumping on the bandwagon for this specific reason.
TIHOSAY THO Token ICO Details
Tihosay has actually already amassed significant crowdfunding support; 1,412,285 units of their tokens—THO—have been sold nearing the end of their pre-sale period. Investments can still be made in the upcoming ICO.
Investors looking to get involved should keep several important factors in mind before making their decision. First, note that the site only accepts Ethereum as a payment method, and recommends that investors send money from only wallets that they have “full control over.”
Additionally, further research should be a prerequisite to any extensive economic investment into this budding organization. Key areas of the site lack expansion, and hopeful investors should dig deeper into the history of both the company and its leaders in order to make an informed decision.