Ziftr is a personalized online shopping companion that helps consumers find the lowest prices for items they buy online. Due to their many relationships with retailers and consumers, Ziftr believes they are poised to help take cryptocurrency mainstream. Ziftr plans to accomplish this goal by creating their own altcoin–ziftrCOIN. Ziftr launched the ziftrCOIN presale on Tuesday, which allows people to purchase the coins before the official release.
The ziftrCOIN presale launched December 9 and will continue until January 23 (or until the coins sell out). As with most altcoin presales, ziftrCOIN prices will incline throughout the duration of the sale. Initially, 1 bitcoin will buy 1,600 ziftrCOINs, but the price will increase to533 ziftrCOINs per 1 bitcoin at the end of the sale. Ziftr plans to use the crowdsale funds to support the development of ZiftrPAY, the company’s budding cryptocurrency payment processing service.
Ziftr CEO Bob Wilkins believes Ziftr’s position as an intermediary between merchants and customers makes ziftrCOIN the ideal gateway to connect the mainstream public with cryptocurrency.
If you believe in the future of cryptocurrency and you want to see mass cryptocurrency adoption in the next couple years, the keys to making this happen are enabling retailers to easily accept not only Bitcoin but the many popular altcoins and getting the next 10 to 15 million users on board with cryptocurrency.I encourage you to participate in the ziftrCOIN Presale and help us achieve our goal of making cryptocurrency highly accessible and easily adoptable for the average consumer and retailer.
According to Ziftr, ziftrCOINs will be available for use within the Ziftr merchant network following the coin’s official release. Additionally, Ziftr guarantees ziftrCOINs will have a $1 per coin value for up to 5% of each transaction made within the network–even if the market value for ziftrCOIN is below that mark. Ziftr can guarantee this value peg because merchants pay them a commission for referring customers to their stores. Ziftr will use that commission to guarantee that ziftrCOINs retain enough value that customers find them useful (even if they only view them as crypto-coupons). If the value of ziftrCOIN rises beyond $1, the 5% limit will become unnecessary.
The $1 peg is a nice feature, and customers could find it extremely valuable for large transactions. However, potential ziftrCOIN investors should remember that the peg is not trustless–it will only exist as long as Ziftr honors it. Customers relying on the peg must trust that Ziftr will fulfill their promise to use commission to subsidize ziftrCOIN’s value..
ZiftrCOIN has a total supply of 10 billion coins which will be mined over the course of 10 years. Ziftr premined 4.5% of the coins to use for giveaways and the presale (the company is keeping 100 million of the coins).
What do you think about ziftrCOIN? Comment below!
Disclosure: The author is paid in and holds investments in bitcoin. He is not invested in or affiliated with any of the altcoins discussed in this article. Any advice contained in this article is solely the opinion of the author and does not reflect the views of CCN. Neither the author nor CCN is liable for your investing decisions, so do your homework and never invest more than you are willing to lose.
Images from Ziftr and Shutterstock.
Last modified (UTC): December 10, 2014 02:40