APX, a new cryptocurrency secured by UBQ network, was created by APX ventures as a trial blockchain project. It does in no way represent rights or equ
APX, a new cryptocurrency secured by UBQ network, was created by APX ventures as a trial blockchain project. It does in no way represent rights or equity to the venture and it doesn’t involve profit sharing. APX tokens, therefore, operate on a buy-back system that uses funds from the firm to acquire back and utilize tokens. APX Ventures undertake to continually provide support and improvement for the cryptocurrency as part of the trial. Read on for more info about the digital currency including its markets, mining and much more.
Increase in Value
The coin has a somewhat low market cap of approximately 5 million dollars essentially providing plenty room for the cryptocurrency to increase by 4 to 5 times nonstop. The company (APX ventures) promises to buyback continually and was, in June this year, able to burn nearly a tenth of the total supply. APX Ventures action helped the coin increase value substantially.
APX Ventures’ Support
The company is currently supporting the APX program in the following ways;
· Buyback and burn program – this involves the re-acquisition and use of the cryptocurrency and hence plays a huge role in ensuring there is a significant uptake of the same.
· Use via mining operations – mining is the process of obtaining the coins so as to later sake or even use for other purposes.
· Utilization on any other scheme that the company funds – this increases acceptance and usability of the gains thus increasing its reach.
APX has a real use other than using it for transactions; the possibility of the coins blowing up big time is, therefore, high. The solid development team buys and burns coins as fast as it can in an effort to maintain high prices. The cryptocurrency thus provides an opportunity to anyone who would like to jump onto the bandwagon. The returns on the coins also fairs favorably with those of its rivals such as BurstCoin, Ethereum, and BitCoin.
Crowd Funding Goal
APX has a crowdfunding goal of 100,000 dollars, and intends to attain the same in the shortest time possible. While this value may appear too huge, with the support from APX Ventures and after various industry players focus on it, its widespread uptake will obviously propel it to the target and even beyond.
Allocation of Profits
Proceeds from operations are divided according to the following outline until the cryptocurrency attains its crowdfunding target;
· 3 percent will go to NDF (Network Development Fund)
· 15 percent buying back APX tokens
· 15 percent to APX Team
· 52 percent to operations and projects
APX Ventures has a minor stake of 10 GPUs (Graphic Processing Units) in one mining firm operated by Misty Mountain Mining. The cards were available for purchase online mid-to-late May, 2017. Once entirely operational the company intends to include 100 GPU cards. APX Ventures will exclusively enjoy the privilege of renting extra hash for a substantial discount above the applicable. This arrangement will enable APX to get a competitive edge over other regular miners.
APX coins provide an interesting opportunity for anyone who would like to venture into digital currency.