What Is SAFCoin?

FHM, a blockchain company, recently launched an ICO for the SAFCOIN, a new crypto for South Africa. It aims to make digital coins easy for all in Africa. 500,000 SAFCOIN tokens will be offered to South Africans at the ICO.

This will give South Africans a chance to invest in SAFCOIN in the startup phase. The other 5 million coins will be listed on an exclusive exchange. The coins will also be launched in Africa and other global exchanges in October. Tokens purchased during the ICO will also be moved to the exchange.

Transactions are facilitated by i-Pay payment gateways via the SAFCOIN sited. I-Pay will allow investors to buy tokens from South African bank accounts. The reason for this project is that blockchain is still quite confusing to Africans. This is causing the adoption of crypto in Africa to be quite slow. With SAFCOIN, the hope is that more people can be educated about the benefits of crypto and assist them to understand where and how to trade. This will ensure that Africa becomes part of the global crypto industry.

The goal is to ensure that SAFCOIN becomes widely accepted for payments across Africa’s online trading world. As a result, this will help to boost African trade and make it easy to conduct cross-border payments by getting rid of red tape in the transaction process.

The e-commerce revenue in South Africa is expected to hit as high as $3,131 million in 2018. It is going to grow at a compound rate of 13.7 percent and will hit $5.239 million by 2022. This will also see user penetration hit 43.8%, up almost 10 points in 2018. Over 400 e-commerce businesses have said they would accept the tokens as payment. FHM will continue to search for retailers to become partners.

The ICO investors will be given a referral link, which they share with others. For each sale made via the link, they will earn a 5% commission. This can be used to purchase more tokens. For every 20 tokens sold with the link, investors will earn a token in commission.

All the tokens will be stored on a crypto wallet that is secured by private and public keys. When the SAFCOIN opens for global trading, all tokens will be moved to the SAFCOIN blockchain. The lack of crypto knowledge in Africa has meant that Africa has missed opportunities to be part of the blockchain revolution.

By opening this ICO, FHM hopes that it will educate ordinary South Africans. Job opportunities are going to be created via mining stations and trading centers, which will be set up across Africa. This will make it possible to mine and trade crypto from anywhere in Africa.

A limited number of SAFCOIN tokens produced. With time, as the demand grows, this will grow the value of the coin. This will see your net worth grow passively without having to put in much effort.

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