People buy and sell things online every second of the day and this is certainly a market where cryptocurrency is going to be able to make some headway if it is given half a chance. That is what Ubcoin is all about because they are trying to establish a marketplace where cryptocurrency is the main theme, and it has to be said that they are not exactly coming up with something that is unique or different.
The entire project is run by Ubank which is one of the biggest financial companies in Eastern Europe, so they do have extensive experience in this kind of thing even if it is not directly related to an active marketplace. However, they do have the backend structure in place, so there is every chance that the payment side is going to run as smoothly as they had hoped.
From the technical perspective, the new platform works just like any other commerce related website with the only difference being that goods are indeed exchanged for cryptocurrencies, and the potential for it to then happen in reverse as well. This means that the platform runs just like a normal website even though the payment aspects are handled via the blockchain.
In order to complete a sale, there is a Smart Contract created which links the item with the price as well as the buyer with the seller. This offers complete transparency for both parties while it also delivers a certain sense of security, which is something that both sides will be actively looking for.
At the same time, the entire platform is built on Ethereum which is known for its stability and security features, so this should also give individuals some confidence when buying or selling via Ubcoin. As you would expect, the token acts as the currency, so if the marketplace is indeed able to build momentum, then it does not take a huge leap in imagination that the value of the token is also going to increase quite considerably.
In general, we are really not looking at anything too elaborate here even though there are some nice touches related to the project in general. Also, the fact that it runs on a peer to peer basis is also not new even though it is a far superior way of dealing with buying and selling the goods to begin with.
The advantages that come with using the new blockchain based platform are pretty apparent from the outset. They provide a simple platform to buy and sell where you are aware of the currency that is accepted. Furthermore, the currency crosses international boundaries where there is no need to be concerned about Forex rates that could have an impact on the price you pay.
Also, they are not new to this kind of business either, so you would like to think that any issues would be ironed out and understood before it got to this stage in its development.
The financial side of things is also good as it provides some insight into how confident they are in their product. For the ICO, they are only looking at accepting ETH which is not unusual in its own right. There is also a minimum investment figure in place which has been set at just 0.01 ETH so they are not exactly going to be pricing that many people out of the equation.
For this period, there is both the usual soft and hard cap with the soft cap set at 2,000 ETH and the hard cap is at 29,000 ETH. They have also concluded that 1 UBC should equate to 0.000125 ETH which is also not that bad compared to other similar projects and ideas that are out there.
They will be releasing a total of 325,000,000 tokens for the ICO, and this represents 50% of the total that have been created for the project. There are also bonuses in place for those that are able to take part in the ICO with the price dropping as time progresses. Getting in early will certainly lead to the best outcome for you from this point of view.
As we said earlier, Ubcoin is not offering something completely unique just by providing a marketplace where cryptocurrencies lie at the heart of it all. Instead, there are other marketplace providers that also have their own tokens, so even that will not be enough to just take its investment potential up to a new level.
Perhaps the main point to make here is that it will largely depend on how well the marketplace is able to operate and how quickly it is able to become established. There is no doubt that the cryptocurrency itself will grow in accordance with the marketplace, but just getting that ball rolling will prove to be the hardest thing of all, this is normally the case with all ICOs so it's not a major issue.
The main reason to invest is that the platform of people who have a long history of running successful businesses, the team behind an ICO is always just as important as the idea itself.
Website: Check their website here
Telegram: https://t.me/ubcoin
Twitter: https://twitter.com/ubcoin
Facebook: https://www.facebook.com/ubcoinmarke
Whitepaper: https://doc.ubcoin.io/wp_eng.pdf
