Tipity is a peer-to-peer altcoin built on the Ethereum blockchain. Find out how it works today in our review.
What is Tipity?
Tipity, found online at Tipity.xyz, is an altcoin that comes with a unique concept: it’s a blank canvas described as “the missing piece to ‘your’ puzzle.” It’s cheap, plentiful, and easy to trade. You can use it as a VIP token to get into your private event. You can trade it with friends as an IOU. You can use it as a reward system.
Obviously, you can use any digital currency in this manner. However, Tipity may be the first currency specifically designed as a blank canvas:
“Tipity is a blank canvas, your ‘blank canvas’. It is the cryptocurrency that you want it to be. As stated above it has as many uses as you can think of and goes up in value the more it is bought, held or traded.”
The currency will be managed by its owners, independent of any centralized development team.
The Tipity whitepaper appeared online on January 23, 2018. A crowdsale for TPT tokens is underway until all 88,888,888 tokens sell out.
How Does Tipity Work?
Tipity is an ERC20 token built on the Ethereum blockchain. The whitepaper doesn’t go into many technical details of the project or its future goals. The whitepaper is just nine pages long, and it doesn’t mention anything about Tipity until page 6.
The main goal of Tipity is to be a cheap, easy-to-transfer currency. As an ERC20 token, Tipity can be held in any ordinary Ethereum wallet, including MetaMask, MyEtherWallet, Trezor, and Mist.
Tipity’s whitepaper doesn’t mention any future goals for the currency. As mentioned above, it’s designed as a blank canvas that users can use however they like.
Features and Benefits of Tipity
Here are some of the advertised features and benefits of Tipity:
- Low entry price with no minimum purchase; 1 Tipity is priced at around 0.0001 ETH, or $0.08 to $0.12 USD
- Tipity is instantly tradeable
- Tipity is designed to be managed by its owners, creating a truly decentralized development environment where Tipity holders run everything
- The original creator of Tipity has not reserved any Tipity for himself; all tokens will be available at the same time to everyone
Who’s Behind Tipity?
Tipity is run by “the CEO and the team.” The CEO and the team collectively consists of all Tipity users.
However, the original creator of Tipity is named Michael O. K A, described as “a positive guy that lives in the sun, is big on health and fitness, drinks camomile tea [sic] in the morning, a true believer in cryptocurrency and is preparing everyone for the cryptographic future.” Michael created Tipity out of “passion for the cryptocurrency revolution.”
Michael did not reserve any Tipity tokens for himself. All 88,888,888 Tipity tokens will be available at the same time to everyone. Any tokens leftover at the end of the token sale will remain for sale until gone.
The Tipity ICO Crowdsale
Tipity claims it isn’t holding an ICO. However, the coins are being distributed through Tipity.xyz. 100% of the Tipity coins are available to everyone. These coins are usable, functional, and tradeable instantly.
You can purchase Tipity online today at a price of 1 ETH = 10,000 Tipity (or 1 Tipity = 0.0001 ETH). The website has a “recommended minimum” purchase of 1,000 Tipity.
The tokens are listed under the symbol TPT. They’re ERC20 tokens built on the Ethereum blockchain. You’ll need to send ETH to the Tipity contact address to receive your TPT. You can store TPT tokens in any ERC20 supporting wallet like MyEtherWallet.
Tipity claims they’re not holding an ICO. However, the Tipity address is still receiving ETH through the sale of tokens. It’s not totally clear how this money will be spent, or where it will go.
Tipity ICO Conclusion
Tipity is an unusual cryptocurrency project. The currency has no products or services – it’s just a cheap digital token that’s easy to transfer to anyone worldwide. TPT tokens are ERC20 tokens on the Ethereum blockchain.
There are countless other ERC20 tokens available on exchanges for a cheaper price. You can buy these tokens and use them as your own “blank canvas”. Tipity doesn’t seem to have any unique selling features over other currencies.
Tipity’s creator, Michael O. K A, has not reserved any tokens for himself – so he claims it’s not a get rich quick scheme. Michael claims he launched Tipity out of his passion for cryptocurrencies. However, you’ll need to send ETH to an address to receive Tipity, and it’s not clear how ETH from that address will be spent.
In any case, the Tipity crowdsale is ongoing until the tokens sell out. You can visit Tipity.xyz to participate in the crowdsale.