The University of Cambridge, in a study on cryptocurrency usage in the world, stated that only around 3 million people worldwide are using virtual coins. The reported number makes up for a fraction, that’s only around 0.05% of the world population. A lot of people don’t adopt cryptocurrencies because they see it as more complicated, and truth be told, it’s not that easy for somebody who had no dealings with this in the past. This is where Mingo comes to help.
Mingo is an app that connects many other messaging platforms, own wallet and currency — MingoCoin (MGC) to teach new users about cryptocurrencies, and how to use it easily. Mingo also rewards users for small and healthy behaviors on the platform.
For example, after a user joins the platform, they receive 10 MGC, that can be used to invite more people to the platform. It is done by sending 1 MGC to friends and family members, whom the user wishes to see on the platform. Once the user successfully gets ten people onboard, they will receive another 20 MGCs as a reward. The whole process primes the user to conduct cryptocurrency transactions in a safe, efficient and cost-effective way. For many, this will serve as the first step towards joining the cryptocurrency community as a regular user.
For more advanced users, MingoWallet supports other major cryptocurrencies in case they want to manage their holding, specifically Bitcoin, Ethereum, Litecoin, Ripple or other altcoins. Novice users will be gradually introduced to other cryptocurrencies through gamification.
Mingo’s core principle is to make transactions as easy as sending a message and to address this specific challenge; the platform makes cross-transactions possible. So, the user can still execute a transaction without knowing the preferred currency of the intended recipient. The system will make the conversion automatically while sending and ensures that the equivalent value is delivered at the other end.
MingoCoin is the core unit of value in Mingo. Like every other cryptocurrency, the key factor that affects the value of MGC is how many users are using it. MingoCoin has its Pre-ICO ready to be launched in the next couple of days, beginning 25 September at 3 PM GMT, in advance to the planned ICO during the first quarter of 2018.
The platform aims to raise €2,000,000 through the crowdsale, and the Pre-sale will help it fund the ICO campaign and start working on the development of MingoWallet and MingoCoin simultaneously. MingoCoin aims to have an early release version ready for production by Q1, 2018.
During the pre-ICO, the platform will issue MingoTokens – MGT, which will be exchanged for MingoCoin – MGC upon the completion of the ICO.
To participate in the pre-ICO, one needs a wallet that is compatible with Ethereum based tokens. Participants in the pre-sale are urged to use MyEtherWallet, Parity or Mist to send ETH only in exchange for MGT, 1ETH = 5000MGT.
For more information visit https://mingocoin.com
Company Name: Mingo Technology Limited
Company Location: Dublin, Ireland