It looks as though the notion of commodity backed cryptocurrencies is more than just a passing fad. Yet another digital coin, a gold backed crypto named Jinbi, is entering the market soon in hopes of adding even more intrinsic value to the market of available coins.
How Does the Jinbi Cryptocurrency Work?
The Jinbi token is not backed by a specific amount of gold. Instead, the entire stock of coins is backed by an ever-growing production and storage of real-world gold. Jinbi has partnered with International Precious Metals Limited and IPML will assist Jinbi in sourcing, mining, smelting, and storing what is projected, by 2019, to be a 150,000-ounce collection of gold. Investors will potentially benefit from both a rise in the coin’s price as well as the regular distribution of dividends. The developers at Jinbi state that they will be reinvesting profits back into the operation of the organization as well as distributing dividends to coin holders at specific production milestones. These dividends will be paid in either gold, Bitcoin, or Ethereum.
If you want more specific information on how the Jinbi gold backed cryptocurrency will work, we suggest that you read the Jinbi White Paper.
When Can I Buy Jinbi?
The Jinbi coin is not available for public consumption right now, but the company is offering a presale of the coin that will begin on May 29th, 2018. If you want to be a part of the presale, visit the Jinbi Cryptocurrency Official Website and register your email with them. Being among the first to buy Jinbi comes with a special incentive. If you make a purchase during the presale, you will receive a 20% bonus on your purchase.
If you want to wait until the official Jinbi Initial Coin Offering (ICO), that will get underway on June 1, 2018. Some sales made during the initial coin offering will include bonuses, but none of those bonuses will be as lucrative as the bonuses offered during the presale. If you purchase Jinbi during the first week of the ICO, you will receive a 15% bonus. If you purchase Jinbi during the second week of the ICO, you will receive a 10% bonus. Finally, if you make your purchase during the third week of the ICO, you will receive a 5% bonus. No further bonuses will be offered after that third week of the ICO.
In terms of the pricing, all Jinbi coins will be sold at a price of $7.04 USD/coin during both the presale and ICO periods.
Jinbi Price Projections
The team members behind the Jinbi coin are making some pretty striking projections regarding the asset’s future value. The current model employed by the developers is projecting that a single Jinbi coin will be worth as much as $32.94 USD by 2020 and as much as $997.92 USD by 2025. As confident as these projections might be, however, they are not entirely out of line given some of the projections being made about the future increases in the value of gold. There are some, such as the people of Capital Economics, who believe that the price of gold will climb over $1,400 USD per ounce in just the next two years.