10 interesting facts about CryptoPing ICO
Jun 26, 2017 Posted / 3285 Views
In the current scenario where the cryptocurrency markets are so eventful and there are a lots of people investing and trading in cryptocurrencies, it's really hard to know what is happening with each of these coins, whether the price of a particular coin is rising or falling, whether it is the best time to invest, etc. Cryptotraders put in lots of effort and time in finding out the recent trends by reading many forums and gathering information online about the profitability of the coins. Since the markets of the crypto coins are volatile, this makes the process so tedious. And also there will be coin developers with their false promises who just stop the crypto coin traders from getting any profit.
So that's where the real use of something like CryptoPIng comes into play. Let's delve into the details of this highly innovative and efficient cryptocurrency and its ICO which tops the list of all new cryptocurrencies.
CryptoPing is a bot which monitors the current market data, statistics, news and social media to monitor the crypto markets, and whenever there is a sudden rise in the market value of a particular altcoin, the bot will notify the customers using mobile apps like messengers. The bot looks to users just like another chat contact. All the algorithms for the bot's market watching and analysis have been well tested and verified already. Its ICO (Initial Coin Offering) happened for a month starting from May 25 gaining them 4724 investors with 1000.02 BTC investment. Its ICO works in a different way. After the ICO, all unsold tokens will be burned which may increase the market price unexceptionally high which is good for the investors. Before ICO was launched, the services of CryptoPing was freely available to the users. Post ICO, there will be a small subscription fee in PING tokens for obtaining the bot's services.
One of the main advantages of investing to this new Cryptocurrency ICO is that this bot is useful and advantageous to experienced and new crypto traders in the same way. All the users will be obtaining the messages of a price hike in a particular crypto coin at the same instant from the bot. So it gives an equal advantage to all its users. It is up to the traders how each of them considers the bot's signals and invest at the right time for a crypto coin.
To cover different devices and platforms and to deliver the signals on time, CryptoPing bot will be using messengers. This is the reason why more and more users, whether new to the crypto market or experienced are attracted towards this bot. Because messengers will be used by everyone. The bot is considered by any user as another chat contact. It has all the necessary algorithm and commands to manage the notifications and even inexperienced users can make use of the bot signals since the apps are so user-friendly.
The message from the CryptoPing bots may look simple. But it has all the necessary fields and information about the particular crypto coin for which the price hike had occurred. The information usually users receive through the mail are: The coin ticker, The link to an exchange or medium that produced the signal, trading volume difference that happened in the last hour, change of the specific coin rate to BTC, intensity of signals on the coin for the last 7 days and coin market capitalisation value in USD. From the data, it is clear that the message is self-sufficient and reliable for any users new to the crypto market or the experienced ones to invest in a coin.
The platform used in building CryptoPing is the Waves. The Waves is a platform which works on blockchain technology which has all the functionalities of the BitCoin, but extending them further to facilitate not only the transfer of value transfer but for other applications also. This doesn't mean it's a replacement to the BitCoins, but it is a platform where all Bitcoins, other crypto coins, assets or fiat currency are transferred and exchanged in a completely decentralized manner. The waves have its own wallet for facilitating the crowdfunding. Many of the CryptoPing users are new to cryptomarkets or trading, so the developers wanted a simple platform for the working of their tokens. That's why the bot was developed in Waves platform.
The CryptoPing ICO which started on may 2017 and lasted for a month has helped the ICO gain 4724 investors with 1000.02 BTC investment. And also the innovative features and the utility of the system have gained huge popularity and there are 25,000 potential subscribers for the project. Maximum total amount of investments was 1000 BTC. 9,000,000 PING tokens were reserved for the ICO, and the left 1,000,000 is for 10% referral program payouts for increasing the usage. Tokens were purchased for different cryptocurrency like BTC, LTC, WAVES, DASH, ETH, etc. All unclaimed coins will be burned after analyzing the investments of the ICO.
After the ICO ends, all the unclaimed tokens will be burned. Burning means all those tokens will be sent to an address without a private key rendering them unusable and inaccessible. This method will help the crypto coin to further raise its value in the market. They will keep a public log of the subscription payments and burned tokens after the ICO. Every investor will be getting transparent details about the investments and the remaining tokens.
The initial supply of the PING tokens is limited to 10,000,000 out of which, 9,000,000 PING tokens are reserved for the ICO, and the left 1,000,000 is for 10% referral program payouts for increasing the usage.
From every subscription transaction for the CryptoPing, they will burn a certain amount of transferred tokens: 75% of subscription fees during 6 months after the subscription is introduced, and 25% of fees for a year after that. After the completion of ICO, CryptoPing will start to require a small subscription fee in PING tokens to get access from the signaling bot and other upcoming services from the same.
Once the subscription is introduced and PING tokens are added to the exchange services and market, the withdrawal of tokens can be done by the investors. Subscription mode goes live after the developers add CryptoPing to exchanges and release social trading functionality.
There is a problem that, if the user is not that experienced in technology, they may use third party services with API keys from their accounts for the exchanges. When the third party services get hacked, the hackers will obtain the user's credentials via their API keys. The advantage of CryptoPing is that they will not be storing any keys on their servers so that hackers cannot get any details of users even though the servers are hacked. And all API keys will be stored only on users devices, they are not needed for CryptoPing services.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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