Coinstarter – ICO Review

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Coinstarter is an upcoming fundraising platform based on blockchain technology. It will help entrepreneurs to raise funds efficiently without any need of going through complex procedure and fulfilling difficult pre-requisites to acquire finance as we see in traditional crowd funding projects. It is based on ethereum and gives full privileges to its holders while using the platform and its services. It can also help to launch a campaign for crowd-sale. All kind of projects are accepted at Coinstarter as long as they are not unlawful.

Concept

Coinstarter is going to be an innovative platform that will help people in creating their projects and raising funds without any hassle. You just need to come up with a valid idea and over 141000 loyal enthusiasts will know about your project instantly. You are not required to spend millions of dollars on your marketing campaigns; instead, your message can be delivered to your target market within minutes after you launch your campaign thanks to the ever-growing audience at Coinstarter.

How Does It Work?

As per the ICO’s official website, their aim is to provide audience a secure and safe community where they can give a life to their ideas. They work as a bridge to connect project creators with those who fund the projects. Users who wish to use the platform need to start a campaign by following simple steps at coinstarter including the signup process and specifying details about the project they need to raise funds for. With the help of coinstarter proprietary devices, campaign & coins can be launched more rapidly as compared to other crowd funding platforms.

Earn Tokens

Tokens of the ICO can be earned by contributing and purchasing tokens at the launch of the ICO. Otherwise, you can also earn tokens by participating in the pre-ICO phase of the Startercoin that is going to start on Jan 6th, 2018.

E-wallets

Since the ICO is based on blockchain technology and coins are generated using smart contracts, therefore, they need to be stored in e-wallets. People wishing to buy tokens of the ICO need to have an e-wallet account first.

The ICO Distribution

As per available information, it is expected that the ICO will hold its inauguration ceremony on 20th of January, 2018. The ICO will remain open for about a month and a day more. It will end on 17th of February, 2018. There will be 60% of total token supply available in the ICO. Its starting price is expected to be 0.00022 ETH. The ICO plans to incorporate a soft capping of 25,000 Ethereum, whereas hard capping will be 154,622 Ethereum. The ICO will accept Bitcoin, Ethereum, Bitcoin cash, Ripple, Dash and Neo as its supported currencies for payments and receipts.

Token Reserve Split (40%):

The ICO plans to split the token reserves in following proportion.

  • 8% of the token reserve will be for Bounty and Lottery programs
  • 6% of the token reserve will be for the founding members of the ICO
  • 8% will go to the development fund
  • 4% is planned to be reserved for Team Members
  • 3% will go to the Advisory body
  • 11% will be offered during the Pre-sale of the ICO.

Bonus Structure:

The Startercoin also plans to hold some bonus offers for its investors. The bonus details of the ICO are as under;

  • 30% Bonus will be offered during the Pre-sale of the ICO
  • 25% bonus will be offered to the participants buying Startercoin tokens within first seven days of its launch.
  • 20% bonus will be offered to the investors purchasing tokens in the second week of the ICO’s launch
  • 15% bonus will be available for participants investing their money in the ICO during third week after the ICO is launched.
  • 10% and 5% bonus offers will be made available to subscribers who invest their money in the ICO during the fourth and fifth week of the ICO launch.

Team Members

The ICO has following team members.

  • Cornell Holloway is the founder & CEO of Coinstarter
  • Cal Evans is an attorney who takes care of ICO Compliance
  • Peter Shuper is the financial market advisor at Coinstarter
  • Jonah Price is the front-end developer of the company
  • Balazs Kelemen is the lead developer at Coinstarter
  • Manny Bailey is the Chief Marketing Strategist at Coinstarter

Final Words

Coinstarter is going to be the first innovative platform that will offer hassle-free fundraising solution to entrepreneurs, investors, and creators of the project. It aims to convert the ideas into reality, more conveniently as compared to any other fundraising platform.

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