Looking for a Checqit Review? You’re in the right place.
Today we are looking at Checqit CQT ICO and we are going to share our full review.
Checqit is a platform established on the ethereum network and CQT tokens.
If you’re wondering whether it’s a scam or a legit company keep reading as we will reveal everything we learned!
Checqit Review
Checqit cites to be the world’s smartest, decentralized, peer-to-peer lending platform.
The platform permits users to offer collateral in exchange for a fast loan. The ecosystem is established on the Ethereum blockchain and depends on CQT tokens for all loans. You offer standard cryptocurrencies as collateral for a loan, and then get CQT tokens in return.
The token sale for Checqit starts on February 21, 2018.
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Workings of Checqit
Checqit aims to link all members with borrowers (people who require a loan for a personal or business project). The Checqit platform permits investors to lend CQT tokens to borrowers, and then get rewarded.
They also has a system permitting investors to utilize its platform to hold CQT tokens in exchange for daily returns on the Checqit wallet or Checqit card.
The Checqit wallet and card permit you to hold CQT tokens. You can make use of your physical Checqit card to withdraw the required amount of fiat money in any ATM. You can scan your iOS or Android Checqit wallet into an ERC20 token friendly ATM to withdraw your money in not more than two minutes.
The Checqit card will be accessible in both physical and virtual formats. You’ll have diverse spending limits depending on the amount of CQT in your wallet.
Every transaction on this platform will be charged a 0.5% fee. The Checqit card will provide 0% spending and exchange fees, with an initial issuance fee of 100 CQT and a yearly fee of 50 CQT. Depending on your location ATM fees will vary.
The Checqit CQT ICO Token Sale
The Checqit token sale for CQT tokens started in February 2018. 55% are allocated for the public ICO of the total supply of tokens. The residual tokens are preserved for the Checqit core team (25%), future expansion (13%), a pre-sale period (6%), and bounties (1%).
The pre-sale is set for February 21 to March 21. During the pre-sale, 1 ETH = 28,000 CQT. One can contribute with BTC, LTC, ETH, BCH, and BTG, with a minimum purchase of 0.01 ETH needed during the pre-sale.
Meanwhile, the chief token sale is scheduled for March 24 to April 21. Tokens will be sold at a rate of 1 ETH = 20,000 CQT, though bonuses are accessible all through the token sale.
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People Behind Checqit CQT
Checqit is headed by founder and CEO Nassim Benzekri, a serial entrepreneur. He has practical experience in business strategy, mechanical and software engineering, and project management. He has also been a crypto evangelist since 2011. Previously, he worked as a professional stock trader until entering the crypto world in 2013. He also develops smart contracts specializing in Solidity on Ethereum.
Other listed members of the team include Gabriel Lemay (Executive Director) and Youssef Atrassi (Infographist and Business Development Manager).
Checqit is based in Canada.
Conclusion
Checqit aims to link borrowers and lenders together making use of Ethereum-based smart contracts. It is a lending platform where lenders can proffer CQT tokens for a loan, and borrowers can stake cryprocurrencies as collateral.
There is no reason to pay to borrow CQT tokens. Checqit, however, claims it will be useful for those who require borrowing money for personal or business projects. You can theoretically exchange CQT tokens for cash or other cryptocurrencies. You can see another really cool company and awesome concept that reviewed, by visiting here.
The token sale for CQT tokens begins in February 2018. Like any lending program online, it is important to be skeptical – particularly because Checqit mentions things like “daily returns” and the fact that CQT tokens are expected to rise in price over time.
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