Dear members,
On June 15th, 2015 trading of OneCoin will start!
We have received several inquiries regarding the trading and therefore we would like to clarify some of the inquiries we have received.
Where will OneCoin be traded?
OneCoin will be traded on the OneExchange in the backoffice. All members can buy and sell coins there.
What about the market capitalization of the coin?
One of the highlights of our event in Dubai was to see OneCoin climbing up the ranks in market capitalization.
It is a huge success for us, that OneCoin cryptocurrency is now listed on one exchange. You can calculate market capitalization by multiplying coins mined with market price (e.g. coins mined*market price). You will see that we have already surpassed Litecoin and we expect to continue climbing the ranks.
Why can’t you find OneCoin on coinmarket and other exchanges yet?
Because OneCoin is a very new cryptocurrency, not open for trading for everyone (yet). Currently only the ONE Network can mine and trade the coin at the ONE Exchange.
There are many cryptocurrencies on the market – not all necessarily listed on all exchanges. All listing and trading of cryptocurrencies are held with private, anonymous owners of exchanges - and they decide alone what currencies to accept and list. It is up to them, if they would like to list OneCoin and when they will list OneCoin.
OneCoin is a successful, genuine cryptocurrency. We believe that soon other exchanges will notice our success and hence will list and trade OneCoin.
We are extremely pleased that OneCoin is listed on www.xcoinx.com. We are confident that more will follow in during this and the next year. Until then visit www.xcoinx.com and watch OneCoin’s development.
Why are there limits on buying and selling the coin?
Currently OneCoin is still in its very early stage. Only 150 Mio coins out of 2.1 billion have been mined. This is only 7% of the total amount of coins. In comparison, Bitcoin has mined over 50% of the total coins. Therefore there is still a long way to go for us and our coin and the mining.
However our goal is to open the trading as early as possible, so our members can get used to it and start using the coin. In the first month we have set limits of 1.5% of the total portfolio or 50 coins to be bought or sold (limits are similar like today for Tokens). These limits will be increased gradually the more coins are mined. When enough coins are mined, the limits will be removed completely.
What we need to avoid is big fluctuations of the price in the beginning – and we want everyone to have the same chances to buy and sell the coin. Our target is to keep the price development of the coin stable – and not to boost the value of the coin too early.
People who joined with a Tycoon in the early days (e.g. September 2014) and did two splits should have now more than 50.000 OneCoins – which means that their account is worth more than 50.000 Euro. OneCoin is a long term opportunity – and as a network we should remember that it is not only for speculation and investment purposes only, but to be used extensively.
Can I buy OneCoin packages with OneCoins?
Yes you can! You can spend 5.000 OneCoins per week if you are on a Tycoon package, 3.000 OneCoins if you are having an Executive Trader, 1.000 OneCoins on a Protrader, 500 OneCoins on a Trader package and 100 OneCoins on a Starter.
How long is the waiting list for mining currently?
Currently it is 35 days.
What happens with the tokens market? How can I buy coins from the mandatory accounts?
Tokens will not be sold on the OneExchange any more, as the coin trading has started. The mandatory accounts can buy them, but the mandatory accounts can also buy OneCoins directly, to avoid the waitlist for mining and join at a lower price.
On May 31st, 2015 the promotion for mining and tokens splitting is over. What does this mean for the members?
The promotion allowing you to mine with your tokens NOW and still enjoy a split after they went into mining is over on May 31st, 2015. All accounts will continue to split as according to the rules. But if YOU send your tokens into mining be aware that they will not split any more if your account is still eligible for splits. Also be aware that escrowed tokens cannot go into the mining during the escrow period
All members that have submitted their tokens for mining before May 31st, will receive a split on these tokens, depending on their packages and if eligible for splits.
Members that have acquired packages after June 1st will have the option to submit part of their tokens for mining whenever escrow period is over or they can decide not to go into mining yet keep their tokens in order to receive a split as entitled to.
Members that submit all tokens for mining after June 1st will not receive a split on the tokens that went into mining.
Only members that have tokens in their tokens accounts after June 1st will receive splits as follows:
Starter package splits once. You upgrade to Tycoon. It will split two more times.
Tycoon package receive 2 splits
You buy a starter package. It splits once. You upgrade to trader. It will split again once. You upgrade to tycoon – the account will split only once more, as every account can split up to maximum three times
Best regards,
The OneCoin Team