The Bitfintech ICO has just started, the coins are currently on sale for just $0.6 offering a big discount to early investors.
What is Bitfintech?
There are many fake web sites. Official website:
They're launching a new cryptocurrency that can be used to send payments or transfers funds. The new cryptocurrency runs on the Ethereum network and makes use of their smart contracts to record all transactions. The main aspect that will interest investors however is their lending platform which according to their website will offer up to 48% interest per month.
The rise of cryptocurrency and ICOs
2017 has seen a huge rise in the cryptocurrency market. The total market is now worth over $200 billion. Bitcoin is still 'the king' with a total price of around $7,000 per coin now. However many other altcoins have also gained popularity with Ethereum reaching $300 per token.
There's also been a huge increase in the amount of ICOs being launched. An initial coin offering is where a business or project offers tokens or coins for sale and uses it as a way of gaining funding for their project. Many now view this as a better way of funding businesses compared to more traditional methods.
Cryptocurrency lending platforms
Cryptocurrency lending platforms have also gained in popularity massively. The trend was started with bitconnect who launched towards the end of 2016, they initially sold their coins through an ICO for $0.5, their coins are now worth nearly $300 per coin which has offered investors a return of nearly 600x. There's recently been many more lending platforms launching their own ICO with most reaching 15$+ as soon as they're listed on an exchange.
These platforms claim to have bots that trade the cryptocurrency markets, to raise extra funds to trade with they offer investors high interest rates in return for lending them money.
Bitfintech ICO Details
The ICO is split into 3 parts with a total of just under 11 million coins for sale. The initial price is set to just $0.6 but will rise to $1 per coin, this offers investors a high incentive to get in early. They state on their website that they're hoping the price will be around $18 when it's listed on an exchange.
Is it a scam?
A few people are claiming that this is the same website as bitserial who recently had their ICO. This personally wouldn't bother me if it's true as I've found bitserial to be much more professional than many of their competitors anyway.
Lending platform ICOs are always a high risk investment. However I've recently made huge profits with the last ones to come out so I'm happy to take the risk and view it as a good calculated risk.
I'd recommend getting in early if you do plan to invest however as the early price is much lower than the $1 that the coins will be on sale for during the final round of the sale.
Sign up with my link below to get instant access to the website: