Paycoin, the new cryptocurrency that will change the world, opens to the public on January 2, 2014. Miners and investors alike have been joining in the investment pool, and the numbers grow by the day. Find out what’s going on now and what’s to come once it has launched and why you should invest.
Miners are mining hashpoints until the Paycoin is launched. Once Paycoin is launched these hashpoints are converted to Paycoins and miners will then be mining Paycoin. The mining period will be very short (a couple of weeks at most).
The opening floor value of Paycoin will be set at $20 each. The short mining period that will begin soon is just one of the key factors that will allow for its stability and thus useability. The limited amount of time for coins to be mined will drive the value up.
How is Paycoin Different from Bitcoin?
Paycoin was designed to solve the issue of volatility, seen with other coins like Bitcoin. Paycoin will maintain stability with bank backed reserves.
As mentioned, the price of Paycoins when first introduced will be $20. The price will rise more and more each day as it is adopted into the mainstream. If you buy now, you will maximize your investment so now is the time to start investing!
According to CEO Josh Garza, the coin’s initial anticipated market capitalization is $250 million. Then, he says the company will partly back that with a store of fiat currency worth approximately $100 million. This will not serve as a 100% reserve but it will help maintain stability. Another feature of Paycoin to fight exchange rate volatility is a supply schedule that will fluctuate depending on the level of miner demand. This will allow Paycoin to be both usable and adoptable….and the more people use Paycoin the higher the value for investors.
What are the Risks?
Paycoins are very much different from other cryptocurrencies that have been introduced to us. Paycoin is not just another cryptocurrency. Its every detail was conceptualized in order to make cryptocurrency work for everyone – merchants, consumers, and investors. Paycoin is bank-backed, ensuring that the value does not bottom out. If you are familiar with Bitcoin you know that it can be used to make money from buying and selling at differing prices but that makes it unrealistic for real world banking. Some investors may be okay with fluctuating prices but not merchants and consumers. Therefore, Paycoin will have much lower risks than investing in other cryptocurrencies.
For a more in-depth look at Paycoin Investing, take a look at the Paycoin Timeline of Events.