First Bitcoin Capital Corp. (OTC PINK: BITCF) a holding company specializing in bitcoin-related business launched its very own Initial Coin Offering (ICO) today. The company foresees a major shift coming in the ICO market and for diversified digital assets.
In order to capitalize on the pending shift, the company chose a name to capture the emerging trend calling it “ALTcoin” bearing the symbol “ALT.” In conjunction with this new ICO, the company is preparing to launch a new website at AltCoinMarketCap.com website for worldwide tracking capitalization of various alternative cryptocurrencies.
Speculators may already begin acquiring ALT using Tether (USDT) as the medium of exchange. Early participants will automatically receive approximately 1.25 ALT for each USDT sent to the company’s Omni wallet.
In order to ensure receipt of the ALT upon transferring USDT to the company’s wallet address, speculators will need to use their own personal Omni Wallet address and not an exchange provided wallet as the exchanges may not be prepared to credit that ALT to the senders account. After 6 confirmations, the ALTcoin (ALT) will arrive in the recipient’s personal Omni Wallet. This process is fully automated and requires no manual processing by the issuer of ALT.
The early bird bonus originally at 25%, will be gradually reduced to 20% the second week, 15% the third week, 10% the fourth week and 5% the final, fifth week, when the ICO closes. A bonus of 10% of all coins sold will belong to the company while 90% will be held by the public.
Management expects to witness ALT listed on several exchanges in the immediate future, including its subsidiary, CoinQX so that those unable to send USDT to acquire ALT may also participate and so that secondary trading may ensue. Cryptopia is the first Bitcoin exchange outside OMNIDEX listing ALT.
ALT utilizes the same Omni protocol as CoinQX’s recently launched Bitcoin Unlimited Futures, which is now trading on 3 exchanges under the symbols XBU on OmniDEX and CoinQX and as XB on C-CEX.
BITCF chose USDT as a medium of exchange for speculators to acquire ALT since it is the most actively traded Omni asset with tens of millions of coins in daily volume, trading in 11 currencies on Poloniex cryptocurrency exchange, as well as many other exchanges such as CoinQX and OMNIDEX exchanges.