A lot of people keep asking several questions about Swisscoin. You see this questions even in your whatsapp groups and so on. Therefore, I have decided to write our the Frequently Asked Questions (FAQ) on Swisscoin. Please, feel free to contribute using the comment box after this article.
WHAT IS SWISSCOIN?
SwissCoin is a new digital currency also known as cryptocurrency. It works on the principle of blockchain technology.
WHO IS THE FOUNDER?
It was created by a Switzerland-based company with Werner Marquetant as it’s CEO.
Swisscoin is a product of the Swiss company Euro-Invest Solution GmbH – under Veto Conecpt AG.
WHEN DID SWISSCOIN START?
It was pre-launched on May 1st and their blockchain went live and started mining the first batch of the coin on June 4, 2016. In less than 60 days since pre-launch and 20 days since the blockchain went live, over 400, 000 registrations have been made.
WHO CAN INVEST IN SWISSCOIN?
Anybody can invest in Swisscoin.
WHAT COUNTRY CAN INVEST?
SwissCoin is a worldwide business and anybody from any country can invest.
You invest in Swisscoin by buying educational pack. When you buy this educational pack, the company gives you tokens which you would use to mine the Swisscoin. Each pack comes with a certain split. The split could ranges from 1 to 3 depending on the pack you buy.
WHAT’S THE PRICE OF SWISSCOIN?
At the Moment the Price for one coin is just €0.08, but it will grow up fast. Till end of 2016 a price about €0.30 is expected.
WHAT ARE THE DIFFERENT PACKS IN SWISSCOIN?
The packs ranges from the lowest, €25 to the highest, €15,000.
See Photo below.
HOW DOES THE MINING WORK?
The Mining of the Coins happens in “SPLITS”, then your Token get changed to SwissCoins.
WHAT IS A SPLIT?
A split doubles your tokens, and there is a minimum monthly split of 1 and maximum of 3 splits, depending on the pack you choose.
A SPLIT is a level of producing a limited amount of coins. As soon as this amount is reached the next SPLIT will start to producing (mining) coins.
With every new Split it is more complicated to produce new coins, that means the price will grow up. The price of the Coins will grow and the price for the Token as well.
That means now in the beginning of the Mining the price is very low and the best point to get started.
WHAT IS THE SPLIT INDICATOR?
The split indicator as its name implies shows how the split increases. It increases from 1 to 100%. When it gets to 100%, the split occurs.
WHAT IS THE RELATIONSHIP BETWEEN THE SPLIT INDICATOR, THE TOKENS AND THE DIFFICULTY LEVEL?
When the buy pack, you’re given tokens.
This tokens doubles (that is, multiply two) when the split indicator gets to 100%.
Then, the doubled tokens would now be divided by the difficulty level.
Assuming, you have 1000 tokens before the split.
The 1000 tokens would then be 2000 tokens after the split indicator hits 100%.
Now, let’s assume the Difficulty Level is 2, your 2000 tokens would be divided by 2 making it 1000 Swisscoins. Note that it’s now 1000 Swisscoin and not tokens again.
WHAT IS THE CASH AND TRADING ACCOUNT?
When receiving a commission with SwissCoin, 60% goes to cash account free for you to use and 40% goes to mandatory trading account, used to purchase more packs/tokens to generate even more SwissCoins for you to continue accumulating more income.
HOW DO YOU WITHDRAW YOUR COMMISSION BONUSES? After you must have earned some commission in your SwissCoin wallet, you have a couple of ways to withdraw your fund; 1. Cash-out to bank account. 2. Using SwissCoin MasterCard which will be available by September 2016 but has been postponed to next year. 3. Reinvest your fund into buying more coins and earning more money.
4. Also, you can sell directly to merchants (companies that buy and sell cryptocurrency).
WHEN CAN I CASH OUT?
According to the company, you can start cashing out your Swisscoin from next year February when the Company would officially launch it for internal trading. The launching would take place in Dubai.
HOW LONG CAN I LEAVE MY MONEY AFTER INVESTMENT?
You can leave your money in Swisscoin after investing for as long as you like. In fact, I advise people to leave it till year 2020 when the value of 1 Swisscoin would have been 10€. That means, if you have bought the €250 pack, you would have 2500 Swisscoin multiply by the €10 which is €25000. If you are a Nigerian, that would be 25000 times ₦600 which is equal to ₦15,000,000. That’s fifteen million Naira. Now, calculate that in your local currency.
You got it? So, why would you cash out now?
WHAT DO I NEED TO REGISTER?
You need a valid email e.g Gmail, Yahoomail, etc. Register a FREE account and get 100 coins for free. Swisscoin is giving the first 1 Million Members free 100 coins.
WHAT IS THE KYC ABOUT?
The KYC (Know Your Customer) is introduced to avoid money laundry, fraudulent acts and also to know you as a customer. Also, this would be used to insue the promised MASTERCARD.
You need to upload your International Passport or National Identity Card for identification.
You would also be required to scan and upload utility bill which contains your home address.
You can fund your account on Swisscoin via Bank Wiring tranfer, Bitcoin, OKpay, SwisscoinPay Asia, Swift and Sepa for now. HOW CAN I BUY PACK AFTER FUNDING MY E-WALLET? Go to SHOP, Click on BUYING PACKS, Click on the pack you wanna buy, Click on ADD TO CHART, Click on CHECK OUT, Confirm your payment and go back and check your dashboard. You would see the number of TOKENS you bought.
You can also buy directly from Swisscoin registered members who have euros in their cash account. All you need do is send your username to the person and he would transfer the euros to you which you would use to buy your pack.
You can buy from me too with your bitcoins, Perfect Money or Naira.
In case you have more questions, please feel free to use the comment box below.