An upcoming ecosystem hopes to create a suite of services that will make it easier for cryptocurrencies to be used in everyday life – including professional bookkeeping, legal, and accounting services to protect a user’s interests.
MillionCoin says its platform is geared towards investors who are interested in crypto but don’t necessarily have in-depth technical knowledge about how it works. Users would be able to exchange cryptocurrencies effortlessly and perform payments quickly while limiting the fees associated with their transactions. All deposited funds would be audited to reduce the chance of fraudulent activity.
The beating heart of the ecosystem would be a marketplace known as the One Million Shop, allowing items to be purchased without the arduous process of converting crypto into legal tender first. Its founders hope that this will make shopping straightforward, quicker, and less expensive. Although multiple cryptocurrencies will be supported by the store, users would experience “additional benefits” if they use the ecosystem’s native MON token – including discounts and exclusive access to special features. The store is in the final phase of production and will open in July.
MillionCoin argues that merchants also have a chance to attract new customers and enjoy increased demand if they use its platform for selling goods. Their businesses would be verified before joining the platform, and they too would be rewarded for accepting MON tokens as payment, mainly in the form of reduced commission fees when they successfully sell an item. The company says it already has agreements with small and large entrepreneurs, and once OneMillion Shop is launched, the team plans to add 5,000 manufacturers, sellers, and service providers from over eight countries.
Automated transactions
MillionCoin’s marketplace is complemented by an intuitive trading system which allows transactions on cryptocurrency exchanges to be completed automatically. A prototype for the At.systems bot is already live, with the company claiming that its professional-standard tool can help investors earn more on cryptocurrencies.
At.systems is using the Software as a Service (SaaS) model, which means that applications do not need to be installed to a user’s device before the bot can be used. It can be accessed 24 hours a day, seven days a week, and experts on the platform have created a range of ready-made trading plans which users can follow. These plans are managed by specialized traders – all with a view to helping users’ money grow. There is no subscription fee for users as long as they have at least 500 MON tokens in their own portfolio.
Experienced crypto holders also have the chance to set their own parameters for buying and selling cryptocurrencies if they prefer. The commission charged by the bot on transactions is calculated by looking at each user’s turnover for the past 30 days, and there are also fees associated with completing transactions on crypto exchanges.
The future
According to MillionCoin’s white paper, a devoted software house featuring “experienced programmers, penetration testers, systems administrators and experts on computer protection” are ensuring that the ecosystem is secure, stable and well developed. The company also plans to offer its services externally, meaning clients can ask the team to build crypto exchanges or trading applications on their behalf or seek programming assistance with an upcoming crypto-based project.
Other services on offer include specialist advice on the legal and tax issues associated with trading cryptocurrency, helping customers to remain compliant in their country even if there is a “lack of explicit and exhaustive regulations.” The fees charged for this expertise will be settled through crypto, including the MON token.
MillionCoin says that its team brings together experienced professionals from the worlds of cryptocurrencies, marketing, law, finance, and cutting-edge programming. It hopes its ecosystem, bringing together different services in one place, will help open the door to “unused areas of the crypto market.”
Currently the ICO is in the pre-sale phase, which will last until August 17, with bonus MON being offered for ETH contributions. This will be followed by a five-phase initial coin offering which will conclude on December 17, 2019.
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