Sales of SAFCOIN, an exclusive African cryptocurrency, opened this month, giving South Africans an opportunity to invest in tokens before the rest of the world.
During the Initial Coin Offering (ICO), 500 000 SAFCOIN tokens will be made available to investors with a valid South African bank account, for just R70 per token.
In October, the remaining 5 million crypto coins will be listed for sale on local and international cryptocurrency exchanges, as well as on an exclusive SAFCOIN exchange, when the price of the coins is expected to increase. At the same time, all valid tokens will be converted into tradeable coins.
Neil Ferreira, director and co-founder at blockchain company FHM, says SAFCOIN aims to make cryptocurrency investment easy and understandable for average South Africans, from the curious dabbler to the serious investor.
“We want to make cryptocurrency trading as accessible as possible, to as many Africans as possible,” says Ferreira. “So it was crucial that our platform was easy to use, secure, and that the tokens were affordable. For the price of a takeaway meal, South Africans can be part of the growing cryptocurrency movement.”
You can become a cryptocurrency investor in under 10 minutes. Here’s how:
- Visit https://safcoin.co.za
- Register for free as a new user.
- Select ‘Buy Tokens Now’.
- Read through and accept the terms & conditions.
- Select the number of tokens you’d like to buy, at R70 each.
- Choose a verification method – email or text message – and enter the one-time password that will be sent to you.
- Pay quickly and securely with i-Pay and confirm the transaction on your phone.
- That’s it. You’re officially a cryptocurrency investor!
You will be issued with a unique referral code, which can be found in your profile section on the SAFCOIN site. Send this code to friends and family and earn 5% commission on their token purchases. For every 20 tokens sold using your referral code, you’ll earn one token.
Buying tokens through the SAFCOIN website is 100% secure, with all instant EFT transactions facilitated by online payment processor, i-Pay. i-Pay is trusted by merchants and buyers to facilitate instant payment on all smartphone and desktop devices, using a simple three-step payment process.
You will be required to enter your Internet banking details and confirm all transactions on your phone. For your peace of mind, when you get to payment stage, check that the URL is green, that it is preceded by ‘https://’ and that there is a padlock in the browser bar, to indicate that you are transacting on a secure site.
Cryptocurrency for Africans, by Africans
“Africa has typically been left behind in most cryptocurrency rushes and currencies like Bitcoin are now unaffordable for a lot of people. By investing in SAFCOIN during the ICO phase, investors can secure their coins at a lower price, with the potential to grow their investment over time. However, as with any investment, there is a risk attached and we advise investors to never invest more than they can afford to lose,” says Ferreira.
Cryptocurrency works on the supply-and-demand principle: the more people that invest and the higher the demand for the currency, the higher the price will be. An ICO is essentially a crowdfunding initiative for a new currency that allows early investors to purchase tokens at a rate that will likely be lower than the initial listing price, depending on demand generated.
When Bitcoin launched in 2010, one Bitcoin was worth $0.003. At its peak, Bitcoin surged to $17,900 in December 2017 before dropping to $6 200 in February this year.
Despite the market volatility, Ferreira says cryptocurrency is here to stay, as a store of wealth and as a revolutionary payment processing system with the ability to facilitate easy, affordable cross-border payments.
* FHM (Pty) Ltd is a registered member of the World Blockchain Association.