What is Iconomi (ICN)?
Future of ICN Cryptocurrency and know how to buy ICN

#1 – ICONOMI: The Basics

What is ICONOMI?

  1. Iconomi is a platform which allows its users to invest in several cryptocurrencies, through index investing managed by experts on the platform. Here, amateurs and seasoned investors alike can invest in other cryptocurrencies with ease.
  2. Iconomi tries to channel funds from the investors into the various projects which show promise on the blockchain.
  3. Iconomi aims to give its users the freedom to invest in cryptocurrencies according to their investment goals, without the added hassle of having to research each cryptocurrency, leaving the struggle to the Iconomi team.
  4. ICN is Iconomi’s very own ERC20 token, the ownership of which gives users the power to vote on changes and developments in the platform.

ICONOMI Development

  1. The Iconomi website lists four members in its “core” management, but their team has expanded into about 27 seasoned professionals.
  2. Co-founder and CEO Tim M. Zagar is responsible for co-founding a Prague-based Bitcoin payment gateway Cashila before starting Iconomi. Jani Valjavec, another co-founder of Iconomi, was also a co-founder of Cashila and a founding member of Columbus Capital Ltd.
  3. Iconomi’s COO Matej Tomazin is said to have extensive experience in business operations and management, both as a CEO and as a broker. Miha Vidmar, the CTO has more than 15 years of experience in software development and was previously the Head of Development for Halcom d.d.

 

#2 – What are the advantages of ICONOMI?

ICONOMI Technology

  1. Iconomi offers investors several low, moderate and high-risk investment vehicles with a high degree of liquidity in the form of Digital Asset Arrays (DAAs).
  2. A DAA is basically a portfolio of cryptocurrencies, which has a variety of options to choose from, diversifying an investment in such a way that risk is decreased while maximizing potential gains.
  3. Iconomi currently has about 11 DAAs to choose from, each having a management fee ranging from 1 to 5 %. An investor can choose any DAA he (or she) wants and the rest will be taken care of by the Iconomi DAA Manager. Investors needn’t worry about buying the cryptocurrencies from different exchanges or securing them, since Iconomi does all this by itself.

 

#3 – How to buy and store ICONOMI coins (ICN)?

How to buy ICN

Iconomi tokens (ICN) are available on almost 15 exchanges as of July 2018, including Binance, Yobit, Tidex and Idex. You can buy ICN in exchange for primarily Bitcoin and Ethereum, but also Tether, WAVES and WUSD.

Only one exchange currently accepts fiat currency for ICN, and that is Yobit. You can buy ICN with US Dollars on Yobit.

  1. The exchanges mentioned above are platforms on which you can buy or sell ICN, but help is usually needed to decide which platform to buy from. That’s where CoinSwitch, one of the largest cryptocurrency exchanges around comes in. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you wish with the ICN token you wish to buy, and CoinSwitch will facilitate the comparison at different exchanges.
  2. What’s more - with CoinSwitch, you do not need to create or rely on wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets, the benefits of which we’ve spoken about here earlier.

ICN Storage

  1. Being on the Ethereum platform makes ICN compatible with all of the vast collection of Ethereum wallets out there.
  2. Hardware wallets are the safest to use, and Ledger Nano S, as well as Trezor, work for tokens on the Ethereum blockchain.
  3. Exodus and Mist are desktop wallets which can store cryptocurrencies on the Ethereum blockchain, compatible with Windows, Linux and Mac.
  4. Jaxx is one of the most versatile Ethereum wallets, compatible with everything: desktops, smartphones as well as web extensions.
  5. MyEtherWallet is its most popular Web wallet, and ETHAdress is one of the paper wallets.
  6. It’s always recommended to use a hardware wallet as against any others, since it is usually the most secure.

 

#4 – What is the future of ICONOMI?

Also Read: Complete Analysis of Iconomi | Live Iconomi (ICN) Price Charts And Predictions

Market Cap and Global Acceptance

  1. Iconomi conducted an ICO soon after its launch, in October 2016. 85 million Iconomi tokens (ICN) were distributed in the ICO, raising about 10 million USD in the process.
  2. The current circulating supply of Iconomi tokens is about 99.156 million ICN, with a value of $ 0.67 USD per ICN, and a market cap of nearly 67.19 million USD, as of July 2018.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

0.622557

0.632228

0.611984

0.614313

3,03,486

6,17,30,900

Jun 01, 2018

0.95473

0.963901

0.929502

0.949497

4,39,609

9,46,68,200

May 01, 2018

1.58

1.58

1.46

1.55

17,59,640

15,73,27,000

Apr 01, 2018

0.749919

0.76391

0.677262

0.715164

5,66,976

7,47,93,700

Mar 01, 2018

1.38

1.9

1.37

1.68

58,66,480

13,79,42,000

Feb 01, 2018

2.39

2.46

1.98

2.11

38,68,800

23,82,92,000

Jan 01, 2018

2.74

2.76

2.52

2.54

30,84,440

27,33,35,000

Sep 01, 2017

2.51

3.1

2.51

2.99

39,62,710

25,08,41,000

May 01, 2017

0.515135

0.529348

0.455474

0.476756

6,42,963

4,48,16,700

Jan 01, 2017

0.307703

0.338648

0.299754

0.303233

1,98,818

2,67,70,200

Sep 30, 2016

0.198937

0.267674

0.188612

0.267674

14,652

-

Trends so far

  1. The individual price of Iconomi tokens (ICN) has fluctuated from its initial of about $0.27 USD at the time of its launch in September 2016, reaching a minimum of about $0.11 in November 2016, to a peak of $5.34 in January 2018. Its current value, as of July 2018, is about 0.67 USD.
  2. For a cryptocurrency barely two years old, Iconomi’s market cap is pretty impressive, ranking among the first 150 cryptocurrencies worldwide in terms of market cap. Its rank as of July 2018 is 131.
  3. Iconomi is not just a currency to invest in; it’s more. Although not exactly decentralized, a cryptocurrency investment manager was (and still is) the need of the hour, what with all the digital currencies coming up at a speed that’s hard to keep up with. Iconomi also has a few projects in the works, among which is one to allow investors to deposit fiat currencies on the platform in addition to its digital currencies.

 

#5 – What makes ICONOMI different from other cryptocurrencies?

  1. One aspect that makes Iconomi stand out from other cryptocurrencies is that it’s not a decentralized platform. It has a central server on which investors’ public keys and other important data are stored, setting it apart from other digital currencies, but also making it a subject of contention.
  2. Iconomi remains the only cryptocurrency to encourage and even help users to invest in other cryptocurrencies. In fact, to use the platform, you don’t even need to use Iconomi’s native token, ICN!
  3. For now, Bitcoin, Ether, BLX, CFI and ICN tokens are accepted on the platform if you wish to invest in a DAA and as management fees, but the team is working on the idea to accept even fiat currencies like USD and Euro.

 

#6 – Should you invest in ICN?

  1. Iconomi as a platform has a lot of potentials. With all the new currencies coming up on the blockchain every day, a platform to help us choose which to invest in and to actually do the investing for us seems an extremely attractive alternative to researching each currency and keeping minute track of its trends.
  2. The platform has a lot of scope for development still, and if you hold ICN tokens, you’ll get to vote on the changes and developments to be brought about on the platform.
  3. As far as valuation is concerned, Iconomi gives its shareholders (i.e., ICN coin holders) a fair dividend by means of burning tokens regularly, hence reducing the tokens in circulation and consequently increasing the value of ICN.
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