Do you know TOA Coin? That is a new cryptocurrency which has appeared on the market recently and today we are going to review it so you can know everything about it.
What Is TOA Coin?
TOA Coin is a cryptocurrency which has been specially developed to be used in the travel industry. Many cryptocurrencies are designed with specific goals in mind and this is not a different case. This cryptocurrency has the goal to be adopted by many travel companies to pay for services, but it has to create a strong community and value first.
The biggest goal of the company is to make travelling easier by using cryptocurrencies which will be used in any country. You will not need to exchange your money anybody because you will be able to use cryptocurrencies to pay. TOA Coin will be a smarter way to pay than using regular credit and debit cards.
How Does TOA Coin Work?
Basically, this is another cryptocurrency that you can use to buy goods and pay for services online, but it has a difference: if you hold TOA Coins, you will be able to receive more tokens during the year. This process is called staking. You hold the coins and then you will receive more tokens according to the number of tokens that you already have. Also, staking helps the blockchain to validate transactions.
This might generate a small inflation, about 2% per year, but it makes the users that hold the cryptocurrencies much richer than they were initially and staking is a vital process for the system to work properly.
The company states that, while anybody will be able to see the transactions made via the TOA Coin blockchain, nobody will know the name of the people who made the transactions, so you will be protected every time that you make a transaction using this cryptocurrency.
TOA Coins has its own blockchain, which is something that many cryptocurrencies do not have (many of them are based on the Ethereum blockchain, for instance). This is good because it gives the company independence.
To store TOA Coins you will need a specific wallet because they have a specific code. You can install this wallet on your mobile device or desktop. They are available for Windows, MAC, Linux, Android and iOS. You will also be able to use the Block Explorer app to check all of your transactions that were made by checking the blockchain.
How To Invest Using TOA Coin?
If you want to travel soon and you are interested in the services offered by TOA Coin, you can buy this cryptocurrency at cryptocurrency exchanges. Unfortunately, there is no Initial Coin Offering (ICO) available, so you will have no choice but to pay the market price for this cryptocurrency if you really want to use it.
The TOA Coin Verdict
Is TOA Coin the right choice for you? Hardly. While the marketing of the company is very focused on being useful for travelling, you could just use another cryptocurrency instead when you decide to travel around the world. TOA Coin is not accepted in many countries and places, just like Bitcoin and Ethereum, which are a lot more popular.
We do not want to affirm that TOA Coin is bad, but it is not a perfect choice at the current moment if you want to use it to pay for goods while travelling. There are already better options for this with more structure. Because of this, invest in this company if you want to, but you should know that there are plenty of other great options that you might get to know if you look enough.