What is LIFE Token?
Future of LIFE Cryptocurrency and know how to buy LIFE

Cryptocurrencies, no doubt have become quite the rage in the present-day business world! However, many experts claim, and perhaps rightfully so, that their full potential is nowhere close to being achieved! This is because adoption is still low, largely due to the fact that it’s hard to transact using cryptocurrencies.

#1 What is LIFE Token?

LIFE: The Basics

  1. Going by the need to create a more accessible cryptocurrency, LIFElabs with its digital savvy business leaders created a cryptocurrency called LIFE. This digital currency runs on the Ethereum blockchain and is named so because it serves as an apt acronym for its actual name – Lightweight Intermediaries For Exchange.
  2. It largely caters to main causes of large organisations that wish to reward their employees by gifting them such coins. Apart from this, it also seems to serve the larger cause of philanthropy by being eligible for use in global charities and various other humanitarian causes.
  3. LIFEtokens are fast catching up to their name and popularity and can either be used to purchase items from a community of its growing retailers or simply traded in the market.

LIFE Development

  1. Life is managed by Lifelabs, which consists of a leadership team of 5 co-founders: Iain Stewart-Bridges, Alistair Hammond, Karl Higbee, Darren Talbot, and Jonathan Bushnell. The team brings with itself extensive experience across sectors - such as technology, fintech, and compliance.
  2. It also has an advisory board with a rich experience in marketing, cryptocurrencies, and more.
  3. Sanjay Jadhav is CTO of LIFE Labs and he is known for building disruptive & challenging products and has taken a decision to integrate LifeLabs Wallet with CoinSwitch which solves the problem of avoiding integration with several exchanges and instead focus on delivery of other core products. His current plans are to develop and deliver the Wallet app which is the key ingredient for the future of his product roadmap.
  4. The wallet app will be integrated with the exchange which will allow users to buy LIFE from exchange(s) and Fiat in the near future.
  5. LIFE users will also be able to earn & redeem loyalty rewards from their Wallet, allowing users to HODL, buy other goods & services and/or buy other coins and tokens.
  6. At its core, LIFE embraces digital transactions by providing a wallet to hold digital currencies, a loyalty reward provision with e-commerce, and the ability to exchange digital currencies. These services are all powered by the Ethereum Blockchain, a trusted and heavily-adopted Blockchain – known to some as a ‘global computer’.
  7. The secondary objective of LIFElabs is to build a platform as a service (PaaS) for the philanthropic sector to access the utility of Blockchain to further their respective causes. Services in this platform include tracking and pooling – the ability of social organisations to enforce trust with donors and deliver their message to an ethically-minded audience in a trusted platform.

 

#2 What are the benefits of LIFE?

LIFE Technology

  1. Since LIFE is aimed at larger circulation, in order to make it more accessible and attractive, LIFElabs plan to launch LIFEcards that it claims will work in a manner similar to ATM cards.
  2. LIFEcards will be one of three primary services LifeLabs intends to build - the others being the LIFEwallet, and LIFEapp.
  3. LIFEwallet is intended to be a user-friendly, graphical wallet that will store LIFE tokens and facilitate user transactions. It allows you to store, access and transfer digital currencies. It is designed to be accessible to all, with the perfect balance of usability and security for users.
  4. LIFEapp will offer users access to their LIFEwallet, and other services, bridging the gap between the core system and end users.

LIFEcards

  1. Using LIFEcards, the purchaser of LIFE tokens can transfer it into a local or country-specific currency and use it to spend on day-to-day items.
  2. LIFElabs also promises to provide the option of converting Bitcoins and Ethereum into everyday fiat currencies which can then make investor buy daily use items. The card also claims to ship with a feature of converting the currency back to digital forms to be transferred into its digital wallet, eligible for any web transactions.
  3. ID and Security: As per its whitepaper, Lifelabs intends to “integrate Civic secure identity platform into [the] wallet, card and charity voting portal.” This will allow multi-sig authentication for enhanced user security.
  4. NFC Integration: The LIFEcard intends to integrate NFC payments into its core, allowing users to make transactions using Android Pay, Samsung Pay, Apple Pay and other NFC enabled services.

LIFElabs intends to launch multiple versions of the LIFEtoken, such as:

  • Philanthropic LIFEtoken: Designed to support humanitarian projects across sectors such as education, environment, health and welfare.
  • Personal LIFEtoken: Designed for the mass users for personal transactions
  • Business LIFEtoken: Designed for merchants and retailers looking to adopt the LIFEtoken as an alternate payment mechanism.
  • Rewarding LIFEtoken: Designed to support reward and loyalty based programs for customers and employees, by businesses.

 

#3: How to Buy & store LIFE?

How to buy LIFE

  1. LIFE can be purchased on major cryptocurrency exchanges like CoinExchange, Tidex and HitBTC. However, investors looking to purchase LIFE should first buy Bitcoin or Ethereum as it is not possible to purchase LIFE with fiat currencies.
  2. The advisable strategy so far is to buy as many coins as possible in the pre-launch phase, to take optimum advantage of any post-launch value hikes. After purchasing LIFE during the pre-launch phase, a unique reference number is given to the user which guarantees the allocation of LIFE to the buyer.
  3. The unique reference code and cryptocurrency wallet once submitted on the website after launch, will show the purchased LIFE as a part of one’s online wallet.
  4. Coinswitch, the largest cryptocurrency conversion platform in the world, is an ideal way to get your hands on some LIFE tokens. It supports over 275 cryptocurrencies currently. It aims at providing a seamless experience to trade by integrating with reliable exchanges, and helping its customers get the best rates whilst also ensuring their security.

How to store LIFE

  1. Life’s official wallet, called the LIFEwallet, is yet to launch. When it does, it should be accessible from its official website. LIFEwallet is expected to be available across platforms such as desktops, mobile devices and tablets.
  2. LIFE is also ERC20 compliant, which means Ethereum compatible wallets can be used to store LIFE. Some popular options are listed below:
  • MyEtherWallet
  • Coinomi
  • MetaMask
  • imToken
  • Jaxx
  • Ledger Nano S
  • Trezor

 

#4: What is the future of LIFE

Complete Analysis of LIFE | Live LIFE (LIFE) Price Charts & Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

0.000147

0.000168

0.000126

0.000165

16,956

13,077,900

May 01, 2018

0.000339

0.000376

0.000273

0.000364

21,935

6,096,120

Mar 01, 2018

0.000618

0.000655

0.000433

0.000453

260,447

8,559,250

Jan 01, 2018

0.000694

0.001058

0.000664

0.001058

93,929

5,411,120

Nov 01, 2017

0.000075

0.000149

0.000070

0.000073

11,704

-

  1. LIFE as a currency is seen to be a stable asset for its purchasers as the last few months haven’t seen too many big drops or gains.
  2. Its visible peaks were on April 28 2018, where the currency was recorded to be $0.00045645. Having traded in November at 0.000075, it quickly reached a peak of 0.000694 in January 2018, delivering a staggering 9.25x returns for its investors.

Future prospects

  1. Initially, the currency will be made available to masses in the form of rewards. Therefore an increase in circulation is supposed to tip up its market value once rigorously in circulation.
  2. Owing to its circulation and its rising market price, its popularity might create a social impact by ensuring more awareness about Blockchain and its application. As a result, a large community of people will have access to more credit and funding.
  3. Its integrations with brands such as Cryptosaurus (a cryptocurrency fiat trading portal), Pure Living Homes (a home rental/ownership portal), Money Mindful (a finance education and community portal), and Tarian PLC are important milestones in its path to global adoption.

 

#5: How is currency different from other cryptocurrencies?

  1. Unlike other cryptocurrencies available in the market, this currency’s inception was intended to let the general crowd have access to the digital currency revolution. Therefore, it claims to be a long-term, sustainable currency with a lot of opportunity for growth in the future.
  2. In order to make it more easy for the general masses to use it in everyday life, the LIFEtoken comes with a LIFEcard, wherein you can easily transfer digital funds and spend them easily. The digital card can also convert Bitcoins and Ethereum into easy to use, everyday cash.
  3. With the feature of converting digital cash back into cryptocurrency as per the wishes of the currency owner, creators aim to bridge the wide gap between online wallets and day to day spending.

 

#6: Should you invest in LIFE?

  1. The current supply of LIFEtokens is around 88,942,165,923 tokens, whereas the hard cap is fixed at 100,000,000,000 tokens. Considering the practical approach of its launchers and their aim for it to be a widely used digital currency, the potential for a natural build up in its value may be apparent to investors.
  2. It is hoped to be a healthier and dependable alternative, where the market value is not dependent upon speculation or manipulation of demand in the market.
  3. At the same time, where this currency boats of a greater scope to be incorporated into daily life transactions, the launch of LIFEcard (and even the LIFEwallet) seems to be delayed. This might be detrimental to the value of the currency as it deters a demand-driven currency from being in circulation.
  4. The value either remains stagnant or dips further below while the early investors sit at home in anxious anticipation of the card launch.
  5. At the same time, delay in the LIFEcard launch is not playing in the favor of makers or the early investors.
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