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NEM Wallet Review

NEM was written from scratch in Java and JavaScript and is the first reputation based algorithm.

Other features include P2P secure and encrypted messaging system, multi-signature accounts and an Eigentrust++ reputation system.

NEM cryptocurrency recently went through an impressive increase in price that catapulted it to the apex in market capitalization for crypto. But it’s still difficult to buy the XEM token simply because it’s not yet available on popular fiat-enabled exchanges.

If you intend to buy or recently bought your first XEM, the next step is to send them to your account for storage.

Short-term Storage

If you choose to buy XEM tokens with the intention of disposing them within days or weeks, the best place to store them is in Exchanges or a Mobile Wallet

Exchanges

The one underlying factor that is common with XEM and all other cryptocurrencies is that you should not hold them on an exchange unless you are a trader. If you recently bought your first XEM (NEM token), it’s most likely they are stored on an exchange.

Leaving or storing your XEM on an exchange exposes you to a third party attack that can take control of your account and funds. You should only leave your XEM on an exchange for as long as necessary.

Mobile Wallet

You can use your mobile wallet like a prepaid card. You should only store the XEM tokens you intend to use. You can back up the mobile wallet by going to your account, click on “more”, “export account” then click “View private key”. Write the private key on a paper or take a screenshot and secure it in a safe place. You can also import the private key to Nano Wallet or NCC.

Long-term Storage

You can hold on to your XEM for longer periods for speculation purposes or simply as a future investment alternative. To store your XEM safely for months or years, you need a Nano Wallet.

Nano Wallet

You can use the Nano Wallet to create a simple wallet on the main site. It’s best to use Google Chrome to download the Nano Wallet. Before you commence the installation, make sure your PC has no viruses and remember to use a strong password.

Storing your XEM in Nano Wallet allows you to access delegated harvesting. Harvesting in NEM is the process of creating blocks and earning transactions fees on that block as a reward for your work contribution. You need a minimum of 10,000 XEM in your account to start harvesting.

Wallet Backup

Now that your Nano Wallet is running on your computer, you need to back up the Nano Wallet in case your hard disk crashes. It’s best to do backups to a file and paper. Store your wallet file on different drives such as USB sticks, USB HDS, and network storage. Encrypt the file before you store it on a different drive.

Your wallet file will become useless without your password. To know your private key, log in with your password and it will display. You can write this information on a piece of paper or print it out and keep it safe. With the private key, you can control your account without the need for a password.

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How To Invest In ICO?

If you’re a novice, you’re probably considering getting in on the action, but how to invest in ICO?

For starters, a disclaimer – Bitcoin, Ethereum, and other cryptocurrencies can be a sure way to pay for items or as an investment alternative. But investments can go up or down, thus you can gain or lose money anytime.

To put it simply, proceed with caution. With this in mind, the rising popularity of cryptocurrencies is an exciting moment for technology. Even if you don’t intend to participate in the revolution, it’s worth knowing how it all works.

Let’s begin where most investments start – the wallet.

The Wallet

To participate in ICOs or cryptocurrency trading, it’s important to have your own wallet. An exchange account such as Kraken or Cex.io does qualify as your own wallet, as you don’t control their private keys. Participating in an ICO requires you send Bitcoin or Ether from your personal, private wallets.

If you send it from an exchange you will not get the ICO tokens. This is because the transfer originates from the wallet of the exchange and technically you’re not the owner of any wallets on the exchange. The use of Ether is recommended as it’s the base cryptocurrency as many ICO coins are compatible with the Ethereum standard – ERC 20, whilst the most convenient wallet is MyEtherWallet (MEW).

The Exchange Account

After performing your research, and you’re confident enough to proceed with participating in an ICO, you can then open a fiat accepting cryptocurrency exchange account. It will help you convert your domestic fiat currency into Bitcoin or Ether.

Despite the cryptocurrency markets maturing in recent years, a lot can still go wrong. Software errors could wipe out your bitcoin storage, while the possibility of user error can send your cryptocurrency into the abyss. Hackers can also break in and steal from you as it happened to Mt.Gox – one of the largest bitcoin exchanges at its prime

Participating in ICOs using Exchanges

If you’re looking for your first exchange, a good choice is US-based Kraken or London based Cex bitcoin exchanges. Both exchanges allow you to deposit fiat money from a bank account or MasterCard (Cex), and trade Bitcoin, Ether, and Litecoin.

Opening an account on both exchanges is as simple as typing your email address and creating a password. Some additional steps will get you going on fully utilizing and unlocking all the features of your new account. None of the steps involved is uncommon in other major exchanges. Both exchanges accept registrations from around the world, although some site features may be unavailable depending on the laws of your current country of residence.

Verification

The verification process is straightforward, but Kraken can be a bit strict when it comes to higher tier verifications. Kraken has four tiers with the first two taking only a few minutes. It can take longer if the application requires manual review. Tier 3 verification can take a few days to complete.

Account verification on Cex removes any limitations and amount restrictions. This gives you the freedom to move and trade, sell and buy in limitless quantities.

Account Funding

Depending on your verification level, funding of your Cex Bitcoin Exchange account can be done in several ways. Users can deposit funds or buy Bitcoin and Ether using their bank-issued visa or MasterCard. A Higher level of verification allows you to utilize your bank account directly. Kraken doesn’t allow users to deposit, withdraw or trade without verification.

Trading

Kraken offers roughly ten different cryptocurrencies for trading, though you can still make direct trades between all available pairs. In conjunction with five fiat currencies, the exchange gives adequate trading options for users.

CEX users can buy Bitcoin directly from the Exchange. The Exchange has 4 preset options, while a fifth option allows you to input a custom value you wish to buy. The fee for buying Bitcoin on Cex is 7% of the buying price.

Participating in a Token Sale

1. To participate in Change’s token offering, you’ll need some Ether, which is the cryptocurrency of the Ethereum blockchain ecosystem. Here is how you can use Kraken and Cex exchanges together with MyEtherWallet in such an investment:

  • Before you buy Ether, you first need to register an account with Kraken or Cex
  • Once you set up your account and log in, go to “Funding” and then “Deposit”
  • Select your deposit currency from the menu and complete the deposit
  • After you have fiat currency in your account, you can proceed to buy some Ether. Choose the ETH/fiat currency pair and place your order.

2. Once you receive Ether in your account, withdraw it to an external wallet immediately. This is because you cannot participate in the ICO from an exchange wallet. You can use MyEtherWallet, Mist, Parity or MetaMask. Ensure you’re always in control of your private key.

3. After your wallet is set up, log in to Kraken or Cex, copy your wallet address to the Ether withdrawal field and complete the withdrawal. The process will buy Ether successfully from the exchange and send it to your external wallet.

4. Access your external wallet on its respective URL to confirm you’re on the correct website to avoid clone sites.

5. Click “Send Ether and Tokens” from the bar, then insert “to Address” in the next step. To view the funding address, enter your wallet’s “public address” into the form for it to display.

6. Copy paste the address directly to avoid a fake address from scammers. Once you enter the Ether amount you want to send, set the gas limit to 250,000.

Trading Brokers

Trading 212, the trade name for Avus Capital, is a broker-dealer with an app that is the most downloaded trading app in the UK. The company provides complete trading operations with markets in some 2,500 instruments ranging from shares to commodities.
Trading 212 also added cryptocurrencies to the mix, helping it attract a younger crowd. Customers not only deal in Bitcoin and Ether but also in Ripple, Bitcoin cash, dash, Monero, and Neo.

Other CFD, spread betting, and forex brokers have been getting in on the action. They include Avatrade.com and Trade.com forex brokers. Another is InterTrader, which allows dealing in Bitcoin and Ether.

Then there’s UK spread betting behemoth IG Group – a pioneer in CFD and spread betting bitcoin products. As interest in crypto grows, new trading apps from brokers such as Trading 212 and others proves there’s a big market for familiar brokers to gain exposure.

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What Is NEM XEM New Economy Movement Coin?

It began as a proof-of-concept before it was adopted by the commercial blockchain Mijin, making the value of XEM – the platform’s currency to rise.

How Does NEM Work?

NEM’s architecture consists of two components: the node which is the NEM infrastructure server or NIS, and the client which communicates with the nodes.

NanoWallet supports NEM with a fully-developed cryptocurrency wallet built with HTML and JavaScript. These coding languages allow the NanoWallet to operate on any platform with a web browser. You just need to download the NanoWallet to use NEM.

Both the NCC and NanoWallet can operate offline, and this provides enhanced security using an air gap system. It also provides protection from external attacks by connecting the NIS through a firewall. If you have internet, you can interact with the NEM blockchain even with a low-end computer or mobile device. In case of a hacking attempt on the NIS, the hacker will not access the NEM wallet software, given the platform’s extra layer of security.

The Difference between NEM and Bitcoin

The NEM platform has set out two strategies to build a better blockchain.

Harvesting

Harvesting is the alternative to mining. It was designed by NEM to generate XEM and to help maintain the integrity of the NEM blockchain. When someone does a transaction, the first computer to see and verify the transaction will inform nearby users of that transaction. “Generating a block” is the name of the process. If you generate a block in NEM with more than 10,000 XEM, you will receive the transaction fee on that block as payment.

Vesting XEM and proof-of-importance

Bitcoin uses a proof-of-work system where your computer does the work for the blockchain and you get coins in return. NEM uses a proof-of-importance system when it comes to harvesting. Importance measures how much you’re invested in the NEM system.

Once you have vested 10,000 XEM in your wallet, you can generate new blocks and earn the transaction fee for all transactions on that block. The non-vested XEM in your wallet will vest XEM at a rate of 10%. 20,000 non-vested XEM in your wallet will take 7 days to reach the minimum 10,000 vested XEM.

Making Money with NEM

Get paid in XEM – Since XEM and NEM are still young, the value is low and this allows you to buy a lot of XEM for less. For example, $90 worth of XEM would get you 3,000 XEM in April 2017. By September the 3,000 XEM were worth $900 in value. Receiving payments in XEM could be an investment in the network’s future and your wallet’s value.

Get Vested – Another way to make free money is to begin harvesting as this will allow you to earn small amounts of XEM for helping maintain the system’s security and accountability. But to do this you would need a minimum of 10,000 XEM vested.

NEM is relatively young, and any new cryptocurrency will face challenges and risks in its lifetime. NEM also lacks a concrete roadmap, thus users will have to wait and see. Since it was built from scratch, it has the potential to avoid the pitfalls that befell other bitcoin forks.

Difference between Security and Utility ICO Coins
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Difference between Security and Utility ICO Coins

Initial coin offerings (ICOs) or token generation events (TGEs) are revolutionizing the nature of early seed fundraising.

They have the potential to change the mainstream investment ecosystem itself. Startups can use ICOs to raise capital by issuing crypto tokens on a blockchain – especially that of Ethereum – then sell them to investors or contributors.

Tokens are fungible and tradable just like cryptocurrencies. They’re unique as their value is derived from what they represent – such as company equity or access to a service. Their value is not measured in their utility as a currency or store of value. Recently the SEC announced their intention to consider ICOs as a new viable way to raise funds. This highlights the need for a new regulation. There are two common types ICO coins – equity (security) tokens and utility tokens.

Tokenised Securities

Tokens represent shares of a business. According to the SEC announcement, any token that cannot pass the Howey test is considered a security under the 1934 Security Exchange Act. The Howey test considers the following:

  • Is it an investment of money or assets?
  • Is the investment of assets or money in a common enterprise?
  • Do you expect to make profits from the investment?
  • Does the efforts of a promoter or third party help generate profits?

The final factor of the Howey Test considers any profit generated outside the investor’s control to be a security. This is where confusion crops up as it makes any utility token a potential security as they can be traded on a third party platform.

Equity Tokens

Equity tokens are a subcategory of security tokens. They represent ownership of an asset such as debtors or company stock. A startup can forgo a traditional initial public offering (IPO) by employing blockchain technology and smart contracts. Then they can issue shares and voting rights over the blockchain. A lender could even create tokens that represent debt owned by the company, allowing the buying and selling of loans in a high-liquidity environment.

Utility Tokens

Utility tokens often called app coins, or user tokens, allow users future access to a product or service. You can buy utility tokens or units of services sometimes at a discount off the finished product’s sticker price. You can compare these tokens to API keys, used to access the service.

They’re a means to fund projects of shared infrastructure that was impossible to fund previously. To enable the building of such ecosystems, some tokens can be “pre-mined” in addition to being sold in “crowd-sales” during token launches.

Utility tokens are not designed as investments. But people still contribute in their ICOs speculating the value of the tokens will increase as the demand for the company’s product or service increases.

The fluctuation of utility token prices is comparable to those of sporting event tickets. The value of a ticket to a future sporting tournament may increase if a certain team is expected to progress to the knockout stages of the event.

On the other hand, that same ticket may decrease in value if that specific team is knocked out in the early stages of the tournament.

In summary, while both equity and utility token prices can fluctuate, the major difference is that equity tokens entitle the holder to ownership rights. Utility tokens simply function as coupons and do not provide holders with ownership rights in a company’s platform or other assets.

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What is Iconiq Lab ICO? Review

Iconiq Lab sources, funds, develops and accelerates the best crypto, blockchain and tokenizable startups to clients own ICO or Token sale.

Iconiq Lab helps other companies’ launch tokens supported by real-world, sustainable business solutions.

The company is currently planning its own token sale and bounty campaign. They have already chosen several candidates for the program, with more expected to come onboard. To qualify as a candidate, Iconiq Lab has to do due diligence on prospective programs to verify that the said projects are legitimate.

Iconiq Lab provides both seed funding and assists the startup with legal setup and planning of its ICO. The company’s accelerator program will offer everything a startup needs which includes connections to top class advisors.

The Company’s Structure

Iconiq Lab Accelerator GmbH is structured as a German limited liability company which operates and manages the Iconiq Lab Accelerator Program. Iconiq Lab Accelerator GmbH issues the club membership tokens, ICNQ, and covers daily operational aspects of the accelerator program. It’s wholly owned by its parent company, Iconiq Lab Holding GmbH.

How it will Work

Iconiq lab will be instituting a bounty program for community members who wish to take part. Members compensation will be via ICNQ tokens on a freelance basis for content provided, sharing or retweeting Iconiq Lab posts, or identifying promising startups for the accelerator program. Currently, Iconiq Lab is assisting several companies to launch their token sales. They have sourced and perform due diligence on roughly 100 companies who have sent their application for the accelerator program.

ICNQ Presale

The ICNQ presale will commence on Thursday, 23 Nov 2017, and will remain open until the achievement of the hard cap of 1,500 ETH, or 1 Dec 2017. Participants in the presale will receive a 50% bonus on their ICNQ token buys, relative to the public sale. Participants of the presale will be eligible for similar club membership rights as public sale participants.

The ICNQ token sale will commence on Sunday, 10 Dec 2017 until the achievement of the hard cap of €8,000,000 in BTC/ETH or remain open until 21 Dec 2017. The transfer of ICNQ to holders will take place immediately after the ICO, subject to basic KYC/AML procedures. The ICNQ will be transferable through a reputable crypto exchange by January 2018.

ICNQ Token Funding Uses

Iconiq Lab will issue 8m tokens for a target of €8m total fundraising to launch, optimize, and scale the accelerator program.

  • €3M of ICNQ funds raised will be dedicated to a seed wallet which will distribute seed funding to accelerator program participants.
  • The company will use €1.5M to spread the accelerator globally to primary hubs.
  • €1M each will used to cover business and program development, marketing and PR.
  • Iconiq Lab will set aside €250k to cover legal, financial and accounting services rendered to it by third-parties.

Iconiq Lab intends to provide seed funding to companies such as Protectiq (insurance), Braincities (HR), and Topl (investment). Ideally, the company will have a Token sale and a bounty campaign, plus the business model of Iconiq Lab to help projects such as the aforementioned to set up and conduct their ICOs.

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CoinPoker ICO Review

The online community has gone through a lot in the last few years, with poker room scandals leaving players with huge losses.

Cheating cases and dishonest users who use bots and cheats to win have made players lose trust in regular Random Number generators (RNGs).

CoinPoker Head of Security Michael Josem – an expert in uncovering major poker fraud scandals – intends to change this. Using his experience, he’s helping CoinPoker develop a Fairplay blockchain based security and fraud system. It will help recognize real players from the bots and prevent cheating. This will give casual players a chance to enjoy the game once more.

Regulation

CoinPoker’s Bitcoin gambling license allows it to operate and process the bitcoins they receive and deliver to players around the world. This is a confirmation the poker room has fulfilled the standards and regulations set by governing authorities.

CoinPoker is also putting their RNG (Random Number Generator) on blockchain to guarantee transparency.

How it Works

CoinPoker allows players and gamblers to sign up, deposit and play using Bitcoin. The use of cryptocurrency will help reduce transactions’ time from days to seconds from anywhere in the world. Poker games will be played using Chips (CHP), which is a special cryptocurrency, based on Ethereum smart contracts.

Players will get paid instantly anytime they request cashouts. This is because CoinPoker will process all Bitcoin withdrawals 24/7. This will reduce the waiting time for players winning payouts hitting their Bitcoin wallet accounts.

CoinPoker’s software has also launched a free play application which is available for instant download. This platform has several adjustable player options that will allow you to customize your own preferences. The application promises to deliver what poker players desire – fun, transparency, and competitive poker games.

Players will have two different ways to play poker games and poker tournaments. The instant poker platform is perfect for players who want to play immediately. You simply sign up, register as a new player, sign in, and start playing immediately.

Deposit Bonus

CoinPoker will offer a welcome bonus to new poker players to allow them to double the value of the first deposit. If you use Bitcoin as your deposit option, you’ll receive a 100% deposit match bonus.

The advantage of the CoinPoker new player sign up bonus is that the terms and conditions are not restrictive. They will allow you to take advantage of it while at the same time not lock up your deposit.

Affiliate Program

CoinPoker features an affiliate program that will enable affiliates to earn roughly 40% of the net gaming revenue. Avid poker players looking for extra income are free to apply to this program, and get a chance to double their monthly profits.

CoinPoker ICO

CoinPoker’s pre-initial coin offering (ICO) is slated for Nov. 16, 2017. Token holders will receive a 30% bonus. Initial Coin Offering and the official launch is planned for January 2018.

To build liquidity and guarantee a larger prize pool, CoinPoker will return 15% of all tokens raised during the ICO to the community. 25% of the total revenue will, later on, be distributed amongst players on a regular basis.

CoinPoker anticipates the permanent demand for chips from the poker community will sustain and grow the value of the coin. This will make CHP attractive to both the crypto community and exchanges.

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Is Blockchain part of the Darwinian process in finance?

‘The survival of the fittest’ is a phrase that aggressive traders like to use; as we have seen, investments banks like to hold conferences with titles like ‘The Evolution of Excellence’.

The American crisis of 2007 has increased the frequency of such language. US Assistant Secretary of the Treasury at the time Anthony W.Ryan was not the only person to talk in terms of a wave of financial extinction in the second half of 2007. Andrew Lo, director of the Massachusetts Institute of Technology’s Laboratory for Financial Engineering, is in the vanguard of an effort to re-conceptualise markets as adaptive systems. A long-run historical analysis of the development of financial services also suggests that evolutionary forces are present in the financial world as much as they are in the natural world.

Birth of Bitcoin

The best source of knowledge when bitcoin was conceived is registration date for the bitcoin.org domain name on 18 August 2008. Couple of months later in November a link to paper titled Bitcoin: A Peer-to-Peer Electronic Cash System appeared on a cryptographic mailing list authored by still unknown Satoshi Nakamoto. Soon afterwards, in January 2009 the bitcoin software was implemented as an open source code.

Darwinan process applies to finance

The notion that Darwinian processes may be at work in the economy is not new, of course. Evolutionary economics is in fact a well-established sub-discipline, which has had its own dedicated journal for the past sixteen years. Thorstein Veblen first posed the question ‘Why  is Economics Not an Evolutionary Science?’ (implying that it really should be) as long ago as 1898. In a famous passage in his Capitalism, Socialism and Democracy, which could equally well apply to finance, Joseph Schumpeter characterised industrial capitalism as ‘an evolutionary process’:

Why  is Economics Not an Evolutionary Science?

This evolutionary character … is not merely due to the fact that economic life goes on in a social and natural environment which changes and by its change alters the data of economic action; this fact is important and these changes (wars, revolutions and so on) often condition industrial change, but they are not its prime movers. Nor is this evolutionary character due to quasi-autonomic increase in population and capital or to the vagaries of monetary systems of which exactly the same thing holds true. The fundamental impulse that sets and keeps the capitalist engine in motion comes from the new consumers’ goods, the new methods of production or transportation, the new markets, the new forms of industrial organisation that capitalist enterprise creates … The opening up of a new markets, foreign or domestic, and the organisational development from the craft shop and factory to such concerns as US Steel illustrates the same process of industrial mutation – if I may use the biological term – that incessantly revolutionises the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism.

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Crypto Asset Management

The finance industry is one of the most innovative and progressive industries today.

This is partly due to the high stakes and potential benefits involved. As a result, innovation in the financial services industry is fascinating and notable.

Fintech is the current definition of financial innovation. Its influence is spreading to all spheres of the financial industry.

Blockchain technology, Bitcoin’s accounting system, and various cryptocurrencies are contributors to the advancement of the current financial ecosystem.

A major barrier to cryptocurrencies is the difficulty in buying coins through exchanges. Crypto Asset Managed Funds is an alternative. It allows new investors to track various coins from a single platform, and hedge against losses with a diverse portfolio.

Crypto Asset Management

Crypto Asset Management is the management of a client’s money and securities by a financial services company. Such services assist individuals and organizations generate wealth. According to Enneking, a Crypto Asset is a trading fund with a minimum investment of $25,000.

Crypto Asset Managed Funds (CAMFs) pool money from different individuals to buy a larger amount of coins to earn bigger profits. Instead of registering with three different exchanges, you simply log-in to a CAMF platform. Such platforms allow you to choose different crypto-portfolios to invest in.

The main drawback with CAMFs is the fees are higher in comparison to buying directly off an exchange. But it’s worth the cost considering the time it takes a new investor to buy the coins they want. A diversified portfolio will give you exposure to the market with minimum losses.

Types of CAMFs

Asset Managed Funds are divided into two categories: active management and passive management.

Actively Managed Funds – Traders who explore to “beat the market” manage these types of funds. They trade actively seeking to buy high and sell low in accordance to market trends. On occasions, some are profitable though most are not.

  • Passively Managed Funds – These types of funds create portfolios from tested market trends called an index. The fund’s goal is to invest in low-risk and low-cost portfolios without the “buy and hold” approach. They make trades re-adjust the ratios in their baskets to eliminate underperforming coins. Despite a consistent growth, potential gains of passively managed funds are not as generous as actively managed funds.

Blockchain Asset Management

Deloitte describes blockchain as one of four influencers improving and restoring asset management. Blockchain technology is helping asset managers attract investors’ appetite for reliability and efficiency.

Blockchain technology operates a decentralized ledger which prevents data misconception while empowering asset managers to embrace transparency.

Blockchain allows the tokenization of assets which enable digital trading of financial assets. Fintech is making improvements that upgrade the opportunities for both customers’ and managers. Tokenization of assets allows asset managers to seek various investment opportunities in the financial markets and cryptocurrency markets.

Brickblock, Iconomi, and Melonport are all adopting blockchain to create trading platforms that empower investors to manage their digital portfolio.  Other companies such as BankEx are converting liquid assets into tradeable tokenized commodities. These companies are utilizing the efficiency of blockchain to modernize the assets they manage.

Benefits of Smart Tokens

Tokenization, digitization, regulation, and accountability are all fundamental aspects of asset management. Each is maximized by the blockchain. Smart tokens advantages over the traditional exchange model include:

  1. Continuous liquidity – Buying and liquidating takes place through the smart contract. Thus smart tokens remain liquid, irrespective of their trading volume.
  2. No extra fees – The only necessary fees for smart tokens are the blockchain platform fees (gas) which are low.
  3. No spread – Price calculation is done algorithmically. The same price will apply for buying and liquidating smart tokens.
  4. Predictable price slippage – Smart tokens enable pre-calculation of the exact price slippage.
  5. Lower volatility – A smart token with a 10% Constant Reserve Ratio (CRR) is equivalent to a 10% exchange of the entire supply of a token in the order-book. More “new credit” is produced with a lower CRR.

Example of Crypto asset Management ICOs

Blackmoon Crypto

Blackmoon Crypto develops a regulatory flexible, active platform that embraces both financial markets and cryptocurrencies. This allows the start-up to provide IT and legal infrastructure for diversified, tokenized funds that match the best of what other companies are trying to achieve on one platform.

Blackmoon Crypto token sale begun on September 12. The crypto platform made more than $20 million in one day through the ICO. It also raised $10 million via a pre-order campaign that began on August 5. According to the company, 9,500 paid accounts contributed roughly $30 million. By 2022, the start-up predicts total value assets under management to exceed $1.8 billion. By then it will have begun token distribution of the first fund – a high-yield fixed income fund.

Protos Crypto

Protos Cryptocurrency Asset Management is planning to hold an ICO to raise capital for a data-inspired crypto hedge fund that will invest in cryptocurrencies and tokens. The ICO public sale is set to begin on October 31. Protus is also a pioneer in building a strong database of digital token and cryptocurrency market data.

According to their whitepaper, the start-up plans to invest in digital assets predicted to be the fundamental foundation and largest applications in the third major computing revolution. Apart from the 12-month holding period for Regulation D buyers, the Protos token has no lock-up and will yield liquidity after trading on exchanges.

Neufund

The start-up is a community-owned fundraising platform that connects investors with the blockchain ecosystem. Neufund plans to gain tokenized equity by linking conventional contracts with Ethereum smart contracts through mutual reference and code correspondence. Blockchain and smart contracts will enable Neufund speed up the investment process, reduce investment barriers, coordinate interests of inventors and investors, and remove transaction brokers.

Neumark reflects the value of the platform, which customers earn after committing capital. As a result, the community economically owns the ecosystem. Investors are incentivized to boost the platform and help it grow with more investments. The Neufund ICO went live in the autumn of 2017.

Other top ICO asset management platforms include

  • Bancor (BNT)
  • TenX (PAY)
  • SwarmFund (SWARM)
  • Hedge (HDG)
  • CrowdWiz (WIZ)
  • OmegaOne (OMT)
  • Salt Lending (SALT)
  • Brickblock ICO (BBT)
  • EnigmaCatalyst (ENG)

Crypto Asset Management ecosystem is created on a decentralized financial platform. It’s independent of limitations and obstacles placed by the current traditional financial systems. The ecosystem aims to contribute to the growth of the crypto economy and expand tradable goods exchanged within the ecosystem. This way it will reach individuals who are unfamiliar with the potential of using cryptocurrencies in a transparent blockchain environment.

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What is Electroneum ICO?

Electroneum ICO is a cryptocurrency developed on its own blockchain.

The currency aims to target the world’ 2.2 billion mobile gaming and online gambling markets. Its mobile friendly design is ideal for fast transactions, and simple micropayments.

Electroneum’s main goal is to make cryptocurrency easier to understand for the average person. The currency’s platform will employ the CryptoNote algorithm used by Monero and ByteCoin currencies.

Who is the Founder?

Electroneum has a team of talented developers led by the founder Richard Ellis. Richard Ellis set up SiteWizard digital agency 20 years ago. More recently in 2013, he founded Retortal.com which designed a social media management platform that’s adopted by fortune 500 companies. Retortal is currently valued at USD $50 million.

Why is Electroneum Different?

Electroneum total coin supply is 21 billion with transactions having two decimal places. The currency will have a ‘real money’ impression with prices labeled 15.20 Electroneum instead of 0.009734 BTC.

In contrast to Bitcoin, the currency’s intention is to offer a convenient, acceptable transaction amount whose total supply is higher than bitcoin.

How Electroneum Works

Rather than presenting users with the option of buying an expensive mining rig or buying coins on a random exchange, Electroneum users only need to download a free app available on iOS and Android. This will allow users to begin mining immediately.

Electroneum will allocate coins to your wallet, based on a calculation of how powerful your phone is. The rate of allocating points will depend on factors such as the number of users, and the number of coins mined in the pool.

Electroneum wallets are designed to be compatible with any smartphone. A unique mobile miner running a background activity on your device will generate coins. The currency is transferable between different games, apps, and users enabling fast micro-transactions.

Electroneum ICO Target Market

The currency’s two main target markets are:

  1. a) Computer gamers: The retention rate of multiplayer online games is 20% after 30 days. The intention is to convince gamers to use the currency for transferring some of their earnings to new games by monetizing their in-game currency.
  2. b) Gambling markets: Despite many people saying bitcoin is complicated and hard to buy, many gaming companies now accept it as a form of payment.

Products

The team at Electroneum claims to have readied various products and platforms. The said products are set for release on October 31 after the conclusion of the ICO crowdsale.

The ICO Crowdsale

The Electroneum crowdsale was set to begin on September 14, with the currency selling at a 50% bonus. Buyers will receive 150 coins for every $1 USD contributed. The rate is expected to drop to $1 USD per 100 coins on the last week of sale slated for October 19 to 31, 2017. You can take part in the crowdsale by using Ethereum, bitcoin or bank transfer.

Unsold Coins

Once the ICO concludes, unsold coins will be used as a mining bonus. They’ll be allocated to a mobile mining pool to increase the chances of miners finding the mobile mining experience fun and rewarding.

Electroneum has a talented team of programmers with vast experience. The high token reserve may be questionable but their aim of making crypto payments similar to FIAT with a 2 decimal point system is commendable.

For further information visit Electroneum website.

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Islamic Financial Trading

You have some money saved up and you are thinking about investing that money somewhere to make profit off it.

So you start to explore your options and you stumble upon the vast trading options offered by financial markets. Trading in financial markets is a lucrative option because the returns are usually instant and significant.

However, Forex trading and trading in the stock markets is a controversial topic. People are concerned about whether investing and trading in these markets is halal or haram.

There are many rulings about the final verdict and every school of thought rules in the favour or against of it, based on their particular teachings. But the ruling against the trading activities that involves interest is definitely certain.

Is trading in shares and stock market halal?

A popular consensus amongst the scholars from major school of thoughts is that investing in shares per se is not haram. Buying shares of a company means that you own a percentage in that business and you are deemed as a partner of profit and loss, of that percentage.

However, one important thing to note here is that the individual has to make sure that the company he is investing in does not deal in unislamic activities. Riba or making profit in the form of interest is prohibited in Islam. Therefore, trading the stocks of the companies in which interest is integrated in the business models is regarded as haram.

What if a company deals in partially unislamic activities?

For instance, a pharmaceutical company that deals in the trading of alcohol. General ruling for such cases is that if a company deals in only an insignificant fraction of unisalmic activities (let’s say less than 10%) then it is perfectly fine to invest in buying the shares of that company.

It all comes down to common sense and your knowledge of the company’s dealings. Investing in the shares of a company that solely deals in alcoholic beverages is not allowed. On the contrary, a pharmaceutical company that deals with alcohol but not as a final product is allowed.

Is Forex trading halal?

Before dwelling into the discussion of the halal or haram nature of Forex trading it is important to understand what the term implies.

Forex trading means trading in foreign currencies in the foreign exchange market. It is a very lucrative industry that promises significant returns. And apparently there seems nothing wrong with simply trading currencies.

However, to understand the rulings of Islam on the subject, it is imperative to look at the intricacies of the process.

Forex trading is deemed permissible under following conditions:

  • The cost of transaction should be remitted immediately
  • The trading should be instantaneous.
  • Accruing interest on the trade is considered unislamic therefore the transaction should be free of interest

Usually currency trading takes place with the help of a financial institution as an intermediary, usually banks. And banks are involved in usurious interest, which is prohibited in Islam. Therefore, Forex trading under such conditions is not permissible.

Shariah law

If you want to invest in financial markets but are also concerned about following Shariah law, UFX online trading platform is the best trading option available. It provides Islamic accounts for trading Forex and CFDs. UFX is in compliance with the Shariah Law because it is a broker and not a bank. Therefore, this eliminates the chances of ‘usury’ or interest involved activities.