ICO Review: Cryptx – The All-in-one Cryptocurrency Company.

4 months ago kakp2 Comments Off on ICO Review: Cryptx – The All-in-one Cryptocurrency Company.
Cryptx token, source: cryptx.ie

The blockchain industry grows every day and many people of different vocations have been involved, both professionally and financially, with the bet that this industry is a revolution in process. This is changing big and established industries like the financial industry with the facilities provided by blockchain technology that Bitcoin has brought to financial transactions without the need of intermediaries.

It is true that the implementation of blockchain in the day-to-day is still minimal, one of the reasons for this is misinformation.

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CryptX is an ongoing project, with experience in the blockchain industry, whose platform will be available to anyone who makes the decision to invest in this growing industry with experts in the area that date back up to 30 years of experience.

CryptX is issued and administered by CryptX Limited, a wholly-owned subsidiary of TXG Limited. CryptX owns a portfolio of services, including a crypto-currency mining operation (MineX Mining Limited), and a data services group (DataX Technology Limited). All these companies are registered in the Republic of Ireland.

Main features

  • Combines financial, mining and data services, an all-in-one company that is growing in many areas in blockchain technology.
  • Provides token holders to receive quarterly payments of Bitcoin directly into their wallet for the benefits of the company’s operations, in a similar way to dividend-paying shares, or cash deposits which pay interest.
  • Offers the opportunity to directly liaise with senior management on matters such as strategy and operational efficiency, expecting to issue quarterly progress reports.
  • Owns a cryptocurrency mining farm for which funds were raised in a successful ICO in 2017 (MineX).
  • They expect to pay a yield of at least 12% per annum.

Novelties

  • They will mine their own cryptocurrency through their mining farm.
  • Initial investments in CryptX will take the form of ‘units’, where each unit consists of two CryptX tokens. One token will pay a yield, whereas the second token will pay no yield. The ‘no yield token’ will be issued 24 months after the date of the first yield transfer.

Token information

  • Token name = Cryptx.
  • Acronym = CYX.
  • Technology = Self-mined.
  • Max. number of tokens = 21 Million.
  • Currencies accepted = Bitcoin.

Token distribution

  • Yield Token (ICO) = 10,5 million.
  • No Yield Token = 10,5 million (issued to Yield Token holders 24 months after the first yield payment).

Funds usage

  • PR/Marketing = 45%.
  • Staff/Administration = 14%.
  • Legal = 5%.
  • Infrastructure = 21%.
  • Insurance = 5%.
  • Premises = 10%.

Cryptx funds usage, source: cryptx.ie

ICO

  • Starts = May 9th 2018.
  • Distributed on ICO = 10,5 Million.
  • Token price = €0,50.
  • Bonus = +€690 (10%) / +€3.240 (15%) / +€5.000 (20%).
  • Min. buy = €150.
  • Hard cap = €10,5 Million.

Cryptx Bonus, source: cryptx.ie

Competitors

CryptX is not a project that focuses on a specific activity since they will have an extended portfolio of varied services which will pay a return for investing in its token, but it has made it clear that at the moment one of its main activities and investment will be cryptocurrency mining. Their main competitors related to cryptocurrency mining are:

Social media presence

Additional information

Conclusions

Cryptx plans to develop targeted services which were once the exclusive preserve of banks, being a secondary market liquidity platform which will introduce a ‘trading desk’ function for cryptocurrencies, allowing users to manage their own finances and pay for goods and services directly, without the ‘middle-man’ (a bank).

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