Dragon Token ICO

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Dragon Coin

Dragon Coin will act as a friction-less, low-cost & transparent alternative financial mechanism within Casinos, to enhance the age-old gaming industry.

Details

ICO Name Dragon Coin
Description Dragon Coin will act as a friction-less, low-cost & transparent alternative financial mechanism within Casinos, to enhance the age-old gaming industry.
Website URL https://drgtoken.io/
White Paper URL https://s3.amazonaws.com/drg-token/Whitepaper-Dragon.pdf
ICO Launch 2018/02/14 16:00
ICO Closing 2018/03/15 16:00
Token Platform ETH (ERC20)
Coin Price 0.005 ETH
Funding Target 407,500,000 USD
Funding Cap 500,000,000 DRG/USD

Anyone familiar with the cryptocurrency industry will understand that dozens of projects are trying to revolutionize the global gambling industry. For non-gamblers, it can be hard to appreciate how significant blockchain innovations might be for the industry. However, some of the global gambling market’s problems are easy to understand once explained. For example:

  • Gambling is illegal in many nations, but in certain regions may be legal or quasi-legal.
  • Internet gambling is somewhat universal, but is partially blocked by certain national regulators. Thus, the online gambler who lives in a region where the practice is illegal must either abstain, travel to a region where gambling is legal, or circumvent the local laws using a VPN or other method.
  • It’s insanely expensive for high-stakes casinos to have enough cash-on-hand to cover the earnings of big winners (and other expenses). This cost is passed onto the winners, who must pay high fees (sometimes 5% to 7%) to repatriate their funds.

There are blockchain solutions jumping into the brink for each of these issues, but the upcoming Dragon Token ICO is primarily focused on the 3rd issue. They want to lower costs for large gambling houses (junkets) and thus lower costs for gamblers. They will do this using two cryptocurrencies: Dragon Global Chips (DGC) and Dragon Tokens (DRG).

Investors who may wish to take part in the Dragon Token ICO will want to be informed about the nature of the company’s business model. We’ll start out by explaining how the Dragon network is proposed to work, why we think the Dragon Token ICO may be a huge opportunity for investors, and how new investors can get their piece of the Dragon Token ICO action.

How Will Dragon Token Make Gambling Cheaper?Dragon Coin ICO Review

Can you imagine the headaches a Junket (private gambling room/house financed by investors) must experience when handling tens of millions of dollars in fiat money, just to facilitate the wins and losses that happen on the gambling floor? It is estimated that the larger casinos lose about 5% in banking costs, transfer fees, and other inefficiencies native to the present financial system.

Another problem is the issue of staking. When a high-net-worth gambler comes to a junket in Macau, they might request that a certain amount of cash (Hong Kong dollars in this case) will be staked at a certain table so that there will be enough money there to pay out to the gambler’s potentially very high winnings.

Dragon Token wishes to change all this. The company’s efforts are focused on the gambling market in Macau. Macau is a nation-state that’s technically part of China, but which basically makes its own rules and has its own citizens and culture. Gambling makes up 40% of Macau’s gross domestic product, and those wealthy or connected enough to get there experience a vibrant gambling scene.

Dragon Token will lower costs for junkets, lower risk for gamblers, and eliminate inefficiency at all points with their unique two-Token model. Here’s how it works:

  • Dragon Tokens (DRG) have a variable value established through supply and demand, like most other cryptocurrencies. Gamblers can buy Dragon Token DRG as a digital currency to be used in physical or online casino environments. This way, the user doesn’t have to carry cash or use credit. The Tokens are stored on the blockchain and are accessible to no one but their owner. In a gambling environment, Dragon Token is traded for Dragon Global Chips (DGC), which will be the tokens actually used in games.
  • Dragon Global Chips (DGC) are a fixed-value token, kind of like Tether. The price will never go up or down. These tokens are used in gameplay on the Dragon Token network, just like physical gambling chips are used in casinos all over the world. They’re just digital instead. The gambler wins or loses Dragon Global Chips, depending on luck and skill, and at the end of the day can trade them back for Dragon Tokens (DGR) which can then be stored for future gambling sessions or traded for fiat currency like USD.Dragon Coin ICO

Being able to hold and transfer value digitally, with the security and immutability of the blockchain, sounds like an amazing solution to gambling’s high roller cost problem. It will also cut costs inherent to traditional banking and fiat currency systems.

What Are Dragon Token’s Long-Term Plans?

Dragon Token already has deals worked out with 4 large junkets in Macau. The system will be first implemented and tested here. If it works as well as is expected, the system will inevitably find new clients throughout Macau. In the medium-to-long term, Dragon Token wants to expand out of Macau and into other Southeast Asian countries, and later worldwide.

As Dragon Token is not legally defined as a “currency” in some world regions, this may have big implications for gambling. While one user may not be able to gamble fiat dollars, legally speaking, they may be able to gamble with virtual currencies without running afoul of national laws. Dragon Token is on the cutting edge of this new approach to legalized gambling.

Why Might Dragon Token Be a Good Investment Dragon logo 2

Dragon Token isn’t just for gamblers. The Dragon Token ICO is drawing interest from a lot of general cryptocurrency investors, who see a great deal of potential that Dragon Token holds for the Macau, and later global, gambling industry. Specifically, Dragon Tokens offer a great deal of potential upside, as it is likely that Dragon Token usage will spread beyond the current 4 junkets currently committed to using it. Also, users who are willing to hold Dragon Global Chips (DGC) within the Dragon Token ecosystem, get the benefit of cryptocurrency stability, as the price of the chips will never vary.

In our estimation, Dragon Token offers the most versatility and return-potential for crypto investors, regardless of gambling savvy. If you’re convinced that Dragon Token is promising, you’ll probably want some information on the Dragon Token ICO. That’s what we’ll supply now. But hurry! At the time of this writing, the Dragon Token ICO will start in less than 2 days!

How to Invest in the Dragon Token ICODragon Coin ICO

Dragon Token is an ERC20 token, meaning that it is launched using the technology of the Ethereum blockchain. As an ERC20 token, it is also storable in any Ethereum wallet, though not all Ethereum wallets will display Dragon Token DRG (which can be pretty distressing to new buyers.

To make sure that your payment to the Dragon Token ICO is sent without difficulty, and that your Tokens are delivered to you with the same convenience, start a MyEtherWallet account. MyEtherWallet.com is a great online wallet that stores every Token ever released through Ethereum, as well as Ethereum itself. Go there now and create your account by inputting the information requested. Then write down or take a picture of the private keys/secret codes provided you. These will be how you can regenerate your MyEtherWallet, or view your coins through another wallet, later.

Once you’ve made your account, you’ll see your personal Ethereum wallet address in the top right of the homepage. You’ll need this later, so make a mental note of where it is so you can easily find it. MyEtherWallet

Buying Ethereum to Buy Dragon Token

It’s only natural that, being an ERC20 token, Dragon Token would accept Ethereum for its ICO. Hopefully you already have some Ethereum of your very own. But if you do not, get some at Coinbase.

You definitely should not send Ethereum straight from Coinbase (or any other exchange wallet) to the Dragon Token ICO. The smart contracts that handle the transaction of Ethereum to DRG will automatically send your Tokens to the address from which you sent them. As Coinbase has no mechanism for making Dragon Token available to you, if were to be sent to a Coinbase address, you would pretty much lose your investment into a black hole. So don’t do that.

Instead, move your Tokens to the MyEtherWallet account you just made. Remember that address I told you to take note of earlier? Copy this and “send” or “withdraw” your Ethereum from the exchange to the MyEtherWallet account you control.

How to Sign Up for the Dragon Token ICO

As the Dragon Token ICO ends in less than 2 days, time is of the essence. If you have already registered and worked your way through the KYC identity process, you can move ahead in this guide. For everyone else, let’s get you signed up.

dragon coin review

Start by going to DRGToken.io and signing up for the ICO, using the blue button pictured above.

dragon coin ico

Now input the information requested of you, including a new password and user name.

dragon coin ico

Once you’ve registered your email by replied to the Dragon Token message sent to that address, you’ll be able to get into your account, but you’ll still have to complete the KYC identity verification process. KYC is the way the Dragon Token ICO team makes sure you are who you say you are, which helps them prevent fraud, breach of international law, and other kinds of general dishonest nonsense. Hopefully after submitting the personal information required, your KYC will be verified super quick so you can take part in the Dragon Token ICO. 

Sending Money Into the Dragon Token ICO

Congratulations, your KYC verification process is complete and you can now take part in the Dragon Token ICO. In your Dragon Token ICO dashboard, you’ll find the Ethereum address you must send money to in order to receive Dragon Token DRG. Copy this address and go back to the MyEtherWallet account, as pictured a few images above in this guide.

Choose to “Send Coins”. Choose ETH for Ethereum. Choose how many/much you wish to send to the Dragon Token ICO. Then paste the Dragon Token ICO address into the address line as requested. Send the Tokens and in a few seconds, they will have been received by the Dragon Token ICO team.

It’s important to note that you won’t receive your Dragon Token DRG until about 45 days after the ICO is closed. It may happen earlier, but the Dragon Token team has given themselves this window of time in which to work. Once available, your Dragon Token will appear in your Dragon Token wallet.

From here, you will be able to transfer it to the MyEtherWallet account we had you make earlier. You’ll also be able to send your Tokens to the Dragon Token wallet which will be in the mainnet system once this is available to customers. If you don’t live in Macau, or don’t plan to visit there soon, it’s unlikely you’ll be able to use Dragon Token. Therefore, most investors will be better served by storing their Dragon Token tokens in the MyEtherWallet.

Final Thoughts on the Dragon Token ICO

Dragon Token represents a major disruption in the gambling industry. While this disruption has not yet matured into an industry innovation, at least not one widely adopted, it holds incredible promise for the future.

Investors are chomping at the bit to take part in the Dragon Token ICO, because they understand the ramifications of this new currency model for gambling on Macau and in the rest of the world.

We hope you are able to quickly register and complete the KYC process necessary for taking part in the Dragon Token ICO. If you are successful, you may be able to buy one of the big cryptocurrency winners of 2018, and beyond.

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