CoinPayo (PAYO) ICO Review – ICO Token News
The Payments industry in Singapore and the South-east Asian markets is growing rapidly. The Digital Payment Market in Singapore & South-east Asia market will witness a CAGR of 58.90% during the forecast period FY2017-FY2023. The market in Singapore alone is expected to reach $700 billion by 2022 in terms of value of transactions. CoinPayo envisions to be the PayPal of this growing Southeast Asian and the Singapore market. It will allow payments and booking through both fiat and cryptocurrency. With CoinPayo app, users will be able to send money, manage finances, do shopping, book tickets & pay bills with their favorite cryptocurrency. Users can scan QR code and make payment. They will also be able to make direct payments to our partner vendors such as Singtel, Uber etc. To incentivize users, CoinPayo will offer frequent discounts, promotion, & free airdrops to all its users. In short “CoinPayo will be an app for the common man, and will make it easier for them to use their cryptocurrency”.
Idea behind CoinPayo
“CoinPayo will be a payments platform for the common man with option to make payments via both cryptocurrency and fiat” Where does the need come from? Most of us currently use cryptocurrency as an investment or as a store of value. However, the main idea behind cryptocurrency was a global digital exchange medium which could be used to transact easily as low cost. Currently the reason why crypto-currency in not used in day today life is because of
- Lack of acceptability by vendors/ merchants
- Multiple stages involved in conversion and transfer
- Lack of stability in prices
An Initial ICO Token Sale or Initial Coin Offering (hereinafter – “ICO”) is the event at which a cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for funding.
The funds raised during the ICO will allow us to accelerate the building of our platform which needs a higher volume of loans than we are able to support at the moment. Offering a token instead of a traditional venture capital round enables the community to participate in the CoinPayo success story, rather than limiting it to a small, selected number of traditional venture capital funds. By acquiring PAYO tokens, token holders will benefit from our future success. A token sale is fast, transparent, and efficient for exactly this purpose.
The main advantages of the ICO model of business expansion:
- Token sales are a cost effective mechanism for raising funds;
- The ICO will be not only a fundraising event, but also a great marketing opportunity;
- Token sales provide an opportunity to engage with the community and build products in consultation with token holders and experts – delivering products that are best-of-breed to customers.
CoinPayo Token Benefits
The launch of CoinPayo token will make possible the continual improvements of the CoinPayo wallet and the CoinPayo Intelligence system. We have developed a benefit and extra-services plan for CoinPayo tokens holders. COINPAYO coin PAYO – is the core of all transactions made directly or indirectly in COINPAYO Crypto-banking platform. In our COINPAYO ecosystem, No payment can be initiated without PAYO Coins and controlled by smart contract. This not only stimulates the coin holders to use COINPAYO in their daily payments but also attracting the new users to our PAYO Coin Platform. PAYO coins will be issued only during different stages of our ICO. In future, COINPAYO will list the coins in various exchanges to expand our user acquisition and to fulfill the market expectation by providing the unmatched service.
Here are some measures/ benefits to enhance the token value:
Only PAYO coin holders are able to use the COINPAYO platform. Every time a person makes a payment, a fee equal to 0.3% of the value of the transaction in PAYO is taken from the PAYO coin holder’s account and is charged as GAS for the transaction. Ownership of PAYO creates a reserve that can be used as the GAS for future transactions.
Users of the CoinPayo will receive 0.5% on certain promotional transactions they make with the CoinPayo Wallet in the form of CoinPayo tokens (similar to how users are rewarded with air-miles). This incentive for users of the CoinPayo will have a great benefit to existing token holders since this recurring redistribution of tokens will create an additional demand for tokens in the market.
Payouts Customer Service is an important added value that we want to provide to CoinPayo users. The Crypto industry has such an escalation in the number of users that many platforms have not been able to deal with the growth and started to treat users with negligence and no culpability or assured protection, affecting the growth of the industry as a whole. We are planning to implement within the CoinPayo wallet, cryptocurrencies that operate master node systems that will generate returns for CoinPayo and for our users.
If you want to get more information about trending ICOs then check ICO list
- Ajit Bakshi Co-Founder
- Dammie Smith Co-Founder
- Deepanshi Thakur Assistant Vice President
- Joanna Charles Chief Product officer
- Anshuman Sabharwal Smart Contract Developer
- Tanya Kashyap Senior Software Engineer
- Sachin Arora Senior Vice President
- Akansha Chaudhary Business Development Manger
- Jack Dillman, ICO Korean investor
- Arnav Vohra, Blockchain Veteran & Advisor
- Anshika Anand, Blockchain – ICO Advisor
- Sakshi Sinha, Crypto Expert, Coinpayo
- 12018 Q1-Q2
Launching ICO and raising funds to build the exchange and app
- 2Tie-ups with partner like airline ticketing, mobile bill payments etc. 2018 Q3-Q4
- 3Adding Multiple cryptocurrency payment options on CoinPayo app 2018 Q4
- 4Launching the app in Singapore market with a target user base of 1mn+ users in the initial 6 months 2019 Q2-Q3
- 5Launching beta version of CoinPayo app 2019 Q1-Q2
- 6Expanding our footprints to the south-east asia achieving a target of onboarding 10 million users 2019 Q3-Q4
- 7Way forward to becoming a Bn$ company 2020 Q1
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