As cryptocurrencies are increasingly being embraced by the mainstream, services to provide liquidity and user-friendliness will need to arise to fill the needs of this financial asset class. As a platform using secure face-to-face (F2F) transactions, Konios has positioned itself to play a leading role in filling these and other gaps in the nascent cryptocurrency industry.
Essentially, Konios will provide a secure app that has several key functions for cryptocurrency traders and investors. Users will be able to send and receive cryptocurrencies, exchange cryptocurrencies, trade cryptocurrencies for goods and services, check their transaction history, set security preferences, and send requests to other users to trade cryptocurrency for cash. By enabling users to obtain cash for cryptocurrencies, Konios will make them more practical for ordinary people to own, knowing that they can be converted to fiat currencies when desired.
Once users agree to a F2F meeting using the app, the cryptocurrency amount in the agreement is automatically locked into a smart contract. Upon meeting, the users will scan a QR code to verify their presence. The users will both verify when the buyer has handed cash to the seller, and the seller will inspect the cash to count it and make sure it is authentic, with tips available within the app to determine its authenticity. Once the seller has accepted the cash, both users will verify that it was accepted, and the smart contract will release the held funds to the buyer. For transactions that involve significant amounts of money, users can request an authorized validator to oversee the transaction for a small fee. After the transaction is completed, users will be asked to rate the transaction, thereby providing valuable feedback to the Konios community on the trustworthiness of other users.
The currency underlying all transactions on the platform is KON, an ERC20 token based on the Ethereum blockchain. Users will be rewarded in KON for participating in the platform and holding KON tokens. Businesses that allow F2F transactions to take place securely on their premises will also be rewarded in KON. The supply of KON will be no greater than 5,000,000,000.
The company is based in Switzerland and complies with the strict laws of that country. Moreover, the headquarters are in the city of Zug, an active hub of cryptocurrency innovation attracting the best talent in the world. The company has a lawyer who ensures that the platform is in compliance with financial laws.
The Konios ICO is taking place from May 1, 2018 to June 30, 2018. During this time, participants can purchase KON for $0.01 each. The minimum investment allowed during the ICO is $10. The Konios ICO is rated a respectable 4.3 out of 5 on ICOBench.
*I am receiving KON tokens for the growth of the community.
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