Nexus (NXX) has announced plans to conduct an initial exchange offering (IEO) through Probit Exchange. The IEO will run between the 15th and the 29th of October, 2019.
During the IEO, NXX tokens will be available at $0.20 each. Investors who purchase the tokens using Probit’s native token, PROB, will receive a 12% bonus. Those who make their purchases using Ethereum, Bitcoin, Ripple, or Tether will gain a 10% bonus. These incentives are meant to encourage more people to participate in the IEO and adopt cryptocurrencies as part of their financial systems. Nexus will be hoping that their IEO attracts several investors and the firm gets off to a good start.
Probit is an international crypto-exchange based in South Korea. The exchange provides its clients with access to 36 cryptocurrencies and the full range of trading options for these digital assets. The platform comes with cold storage for increased security for one’s holdings. Storing one’s cryptocurrency offline means that hackers cannot access the coins. Cold storage only allows authorized individuals to gain access to the crypto wallets, and it is considered one of the most secure ways of storing cryptocurrency.
Nexus has plans to further the mass adoption of cryptocurrency through a range of services. The firm will open up crypto cafes, create user reward programs for its clients, and set up a network of crypto ATMs. The company has a university through which it offers qualifications in cryptocurrencies.
The crypto options available through Nexus are vital for the mass adoption of digital clients. These services will allow more people to access cryptocurrencies easily. Crypto ATMs are one of the critical facilities in the use of cryptocurrencies, and Nexus’ provision of these will open up the industry. Users will be able to use the asset class in their daily activity, and this is vital for the adoption of crypto.
Merchants affiliated with Nexus use the firm’s digital coins for the different services they provide. Clients receive cashback rewards for every transaction they complete. The rewards are provided regardless of the kind of currency that the shopper uses. One could use any cryptocurrency or fiat currency in their purchases, and they would earn these rewards.
IEOs are growing in popularity and application as more startups move away from conducting initial coin offerings (ICOs). ICOs have placed several crypto related businesses on the wrong side of regulations as the tokens offered through this method usually violate securities laws. In a bid to ensure that they stay on the right side of regulations, crypto firms are opting to execute IEOs.
The crypto industry considers IEOs as the next step in the evolution of crypto fundraising. The exchange running the IEO looks at the proposal put forward by a startup and provides a date for the token sale. It also provides a list of currencies thy will be accepted during the token offering. IEOs are considered a safer alternative to ICOs because the exchange running the time offering has a reputation to lose if the token offering violates any of the terms provided to clients. The exchange is also responsible for ensuring that all the people buying the tokens satisfy the required KYC protocol.
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