What Is Xfermoney
The xfermoney is a decentralized blockchain based platform that enables users to transfers funds all across the globe incurring the lowest fee. The platform offers the world’s most low-cost remittance services without charging any conversion fee. Users cannot only enjoy the unbeatable exchange rates to transfer their funds to any part of the world but also remain secure and protected. The platform also offers 24/7 customer support to assists its users.
The xfermoney is a blockchain based decentralized financial transactions oriented platform that offers low-cost funds transferability to its users all across the globe. The platform offers both seller and buyer the same exchange rate to use while mark zero spread making the rates unbeatable. The xfermoney is designed to bring innovation in the contemporary payment system where high feeses are charged. It basically intends to eliminate the role of a middleman such as brokers & banks, and connect users to carry out their transactions independently by staying in contact with each other directly.
How Does Xfermoney Work?
Xfermoney verified users can either make international transfers to their loved one or send money to their own international accounts. Moreover, the platform also allows its registered users to enjoy the power of its debit card that can be used for shopping on almost all merchants across the world. Let us be simpler.
Suppose James living in the UK wish to send some money to his brother Wayne in Australia. He would send funds to his Xfermoney Australian account. Xfermoney will match AUD-GBP with other people who wish to send funds in opposing direction. Wayne will be facilitated with funds of those who wish to send funds to the UK in a way that James funds will be used to pay users in the UK.
What we mean to say that people in the same country would be facilitated in same currency thereby without having them to exchange their currencies into other currencies. This is how conversion cost will be saved. Xfermoney debit card can also be used to shop around the world.
Earn Xfermoney Tokens
People who wish to earn Xfermoney tokens can contribute to the crowd sale of the Xfermoney ICO which is currently in progress. The crowd sale is expected to last for about 24-25 days more. The ICO is also offering bonus offers to those who wish to earn Xfermoney tokens provided that they participate in coming two days. Because as of writing this review today, i-e March 6th, 2018 there are only two days left for people to opt for the bonus offer.
Buy Xfermoney Tokens With E-Wallets
The ICO crowd sale has been started. People who wish to buy Xfermoney tokens can use their E-Wallets to buy Xfermoney tokens. The platform is based on ERC20 tokens. The tokens are also known as ETH. One thing that investors who wish to buy Xfermoney tokens need to make sure that before they buy Xfermoney tokens, they must have an e-wallet account first. Because all cryptocurrencies including, ETH and ERC20 tokens are stored in E-wallets. Therefore, to buy Xfermoney tokens E-wallets is a must.
The ICO Distribution
The ICO started offering its tokens to the public on February 26th, 2018. The ICO is expected to last for about a month and a half. Its scheduled ending date is March 31st, 2018. There will be a total token supply of 125,000,000 XFM with 87,500,000 being available for the public to subscribe. The ICO sets its soft and hard capping as 1 Million and 5 Million respectively. The base price of the ICO is 1 ETH = 8000 XFM tokens
The ICO plans to distribute its tokens under following proportion;
- 70% tokens are planned to be made public during the ICO
- 20% tokens are planned to be distributed amongst the founding members and team members of the ICO
- 5% tokens are planned to be distributed to the marketing department of the ICO
- 5% tokens are planned to be kept separated as a reserve by the Xfermoney
Funds Allocation (100%)
The ICO plans to allocate its funds generated through the ICO under following proportion;
- 15% funds generated through the ICO are planned to be allocated to the Business development department of the ICO
- 15% funds are planned to be allocated for Licenses and Approvals
- 25% funds are planned to be allocated to meet the Operational Overhead costs.
- 35% funds are planned to be spent of the Platform
- 10% funds are planned to be reserved by the Platform itself to meet any unforeseen events
The ICO also plans to offer some bonuses to its early contributors. Those investors who will be contributing within next two days will be able to receive a 25% bonus offered by the Xfermoney.
The ICO has following team members;
- Sumit Kumar is the Founder and CEO of the ICO
- Shivam Kumar is the Technology Lead at Xfermoney
- Dipankar Mishra is the Sr. Business Advisor at Xfermoney
- Gaurav Jha is the Technology Consultant at Xfermoney
- Chetas Sankhesara is the Sr. Software Programmer at Xfermoney
- Vipin Goyal is the Manager for Project Resource at Xfermoney
Invest In Xfermoney
After an in-depth review of the ICO, we hereby conclude that the xfermoney is one of those ICOs who has unique but workable objectives to pursue. The platform aims to introduce an online remittance system where users can transfer their funds to almost all parts of the world by incurring lowest charges available. We believe, the ICO is going to be successful. We suggest people should take a chance to invest in Xfermoney. However, people from countries like Singapore, Hongkong, India, and countries where investment in ICOs are not allowed should avoid investing in it.