1FX Coin Introduction: All You Need to Know About 1FX Project
Foreign Exchange or Forex is the biggest financial market in the world and it involves the buying and selling of different types of currencies. Traders of FOREX keep their eyes on currency exchange rates to get profit from trading foreign currencies.
The FOREX market has various key features including a wide variety of currencies available for trading, low transaction costs, trading 23 hours a day during the week, market size, and volatility.
However, the FOREX market also has a few problems, and traders, investors, and almost all parts of this industry and their profit get hit by these problems.
These problems include, traders find it difficult to fund their trading accounts with fiat currency, overseas transactions, Time Consuming, high transaction fee, and add-on taxes.
These all, while combined make it worse to withdraw your profit. There was no solution to all these problems until now, but not anymore, we are here with 1FX Coin.
1FX Coin will bring a revolutionary change in the Foreign Exchange Market. It provides facilities for its customers and almost everyone to trade in Foreign Exchange (FOREX) with Cryptocurrency.
1FX and trading platform is aimed at addressing the current inefficiencies within the market and providing effective and profitable solutions to brokers, traders, and liquidity providers by utilizing cryptocurrencies and blockchain technology.
It will effectively eliminate the intermediaries from the international money transfer process for FOREX and will reduce the risk of brokers and traders by providing opportunities and increasing the speed of transaction in the FOREX Market.
To achieve our aims, 1FX Coin is going to partner with more and more brokers worldwide in the next two years, and it will make it easy to withdraw instantly and anonymously.
1FX will offer a digital currency to brokers, traders, etc., and the trading platform will provide a medium through which users can easily convert fiat currency into 1FX Coins and then trade it in the FOREX market.
The use of 1FX Coin aims to reduce costs effectively by providing more opportunities for brokers and traders and increasing the speed of transactions in the FOREX.
Benefits of 1FX Coin
There is a long list of benefits traders, investors, and all the parties linked to the FOREX trending, and you can access the same from the whitepaper. Meanwhile, a few of the key benefits are listed below.
- By eliminating intermediaries such as banks and money transfer websites from the process of international money transfer for FOREX trading, 1FX Coin will reduce the cost of transactions.
- Users can withdraw instantly and anonymously.
- Traditional methods can take 3–7 days to wire the payment and no withdrawals on bank holidays including weekends. But 1FX provides 24/7 instant deposits and withdrawal facilities.
- 1FX Coins in the Foreign Exchange Market means more Financial-Liquidity for everyone.
- 1FX Coin is a cryptocurrency and the platform is a decentralized platform thus there will be no taxes.
- A limited supply of 600 million Coins, means coin prices will grow rapidly.
- Lower transfer fees and higher-yield returns.
- 1FX coin ideology is based on simple demand and supply economics.
1FX Coin Details
There is a total coin supply of 600,000,000, and 50% of the same i.e. 300,000,000 1FX Coins are made available for IEO Coin Sale. Other details are as below.
- Name: 1FX Coin
- Total Token Supply: 600,000,000
- IEO Coin Sale: 300,000,000
- Blockchain Technology: Ethereum ERC-20
- IEO Coin Sale: 50%
- Development and liquidity:10%
- Reserves for the company:5%
- Marketing & Sales: 5%
- Reserves for Networkers: 5%
- Bounty: 5%
IEO Pre Sale and Launch
- IEO PRE SALE JAN 26th -31st IEO Price: $0.20
- IEO PRE LAUNCH FEB 01st -14th 2021 IEO Price: $0.40
- IEO LAUNCH MAR 15th -MAR 31st IEO Price: $0.80
- IEO DUBAI LAUNCH MAY 15th — MAY 31st IEO Price: $1.60
- IEO ABU DHABI LAUNCH JUL 15th — JUL 31st IEO Price: $2.40
How does 1FX Coin work?
With Cryptocurrency and blockchain technology, 1FX Coin will be able to solve the inefficiencies in the market which until now had no solution.
- The 1FX team will partner with brokers around the world in the upcoming two years, and it will make the withdrawal of profit instantly and anonymously.
- 1FX Coin will be offered as a digital currency to brokers, traders, investors, etc, and the 1FX platform will work as a medium through which users can effortlessly convert fiat currency into 1FX tokens and vise-versa.
- They can continue trading or withdraw in fiat currency at a later stage through the FOREX trading platform, at the minimum cost possible.
- When 1FX Coins will become new normal, and everyone will start exchanging 1FX Coins then they will get more profit and cheaper transactions and there will be no tax.
1FX Coin is here to solve the existing problems of the FOREX Market. It will help traders, investors, brokers to save more profit, avoid taxation, and make transactions faster and safer. More details about the 1FX Coin can be easily accessed from the 1FX Coin Whitepaper.