Hi there! There is some real benefit to partaking in the Cosplay Token ICO right now & I want to tell you all about it!
Before I explain the details, let’s make sure we are all on the same page with regards to what an ICO is, and also have a look at some of the synonyms for that term.
ICO is an abbreviation for Initial Coin Offering. This is a special deal made available when a crypto coin or token is initially launched, to introduce it to civilization. Synonyms for ICO include terms such as Public Sale, Token Sale & Crowdsale. The ICO would be set up to last for a certain duration within which crypto projects typically try to hit certain margins with their funds raised in support of the project. The growth and performance of an ICO tells you a LOT about the project health, its sustainability and the degree to which communities are interested.
With a project such as Cosplay Token, you must know it is most definitely a highly successful project already – & it has hardly begun! Cosplay is a niche industry globally which COT are really tapping into for the benefit of cosplayers, cosplay industry participants, cosplay fans & also crypto enthusiasts!
Before I get to the core of this article there is one more term we need to look at, KYC. KYC is an abbreviation for Know Your Customer. This is a process implemented by crypto platforms such as Cosplay Token, to fend off scammers & prevent individuals from participating more than once. Obviously one of the things people are afraid of when it comes to crypto is scamming, which has happened with some other fake projects. If you sign up to work with crypto currency on any platform like a project website or a economic exchange website, that platform may insist on KYC before one can participate. This can also be required by law. KYC would include sending a photo of certain things to their platform such as a photo of your Identity Document, a selfie and then a clear photo of your proof of address (utility or government related bill will do the trick) not older than 3 months.
The COT ICO is live for another 17 days & as with all crypto projects there are perks to partaking within this time frame. COT have made two paths available as options for people who want to invest during this time. See both options explained below in a more digestible style for those who are not as knowledgeable about crypto currency & note that both of these options each require KYC.
Path 1 – Cosplay Token Website / Platform
After completing your KYC for the COT platform, if you invest during the ICO phase here you have 4 options which all include vesting periods. A vesting period is a time frame within which you are unable to use the token you purchase while it is safely locked away by the trading platform (basically a financial investment you can’t touch for a certain time), and the longer you lock it away for the more you will benefit. The COT Crowdsale will offer contributors, crypto-enthusiasts and the cosplay community a chance to purchase a minimum of 0.02 ETH (250 COT) with an added bonus depending on the chosen vesting period, which is as follows:
3 Months – 10% bonus
6 Months – 20% bonus
12 Months – 30% bonus
24 Months – 40% bonus
The COT that you purchase via their platform during the ICO will only be useable once the chosen vesting period is concluded.
Path 2 – Qryptos (QUOINE) Website / Platform
Qryptos is a crypto currency exchange platform (like a stock exchange), the very first exchange on which COT is listed! There we can exchange COT for other crypto currencies like Bitcoin and Ethereum and also some fiat currencies. The Qryptos platform perk is that there is no vesting period – the purchased COT immediately goes into your wallet and can be traded with on their exchange as soon as the COT ICO is concluded. Qryptos makes signing up for an account on their platform quick and easy. You can also earn bonus COT by investing through Qryptos between 15 – 19 August (4 day duration) for which you will secure a 5% bonus.
So that is the COT ICO broken down to as short and sweet as I could manage. Hopefully some of you have learnt a thing or two! If you have any questions feel free to let me know.
Until next post,