LoyalCoin is a near new crypto currency being developed by Appsolutely. The company is focused on providing digital reward’s systems for multinational companies.
LoyalCoin = Rewards Platform
Link to the main website
Link to price/market cap
Exchange Ticker (LYL)
Coin or Token
Circulating Supply (5.3 Billion)
Total Supply (9 Billion)
Market Cap Ranking
LoyalCoin is a new cryptocurrency being developed by Appsolutely. The company is focused on providing digital reward’s systems for multinational companies.
This new token, LoyalCoin, it’s supposed to be a new way for companies to reward users in loyalty programs. Appsolutely argues that it’s hard to keep track of all the loyalty systems provided by different companies, so they plan to solve this issue.
LoyalCoin aims to be an international digital currency used to integrate all the reward systems of different companies so the users can use them for easily and thus be more interested in using their loyalty services.
Registered in the Philippines, the ICO managed to raise a little bit over $4 000 000.
- How it works
- Earning LoyalCoin
How it works
LoyalCoin has superseded the traditional methods of loyalty points people used to get rewarded with its innovative universal reward point mechanism. People receive many reward points from different merchants in the day to day routine, however, it was quite difficult to use those reward point again due to various reason such as they may never return to the merchant once they had a purchase from. It could well be the case that the merchant is no longer available to use those reward points. LoyalCoin has given a solution where people can use their existing reward points at any other merchant within the network. To earn LoyalCoin on every single purchase, people just need to scan the QR code printed on the bill. LoyalCoins can be used to make payments, send funds, and to pay utility bills etc.
To earn LoyalCoins people needed to participate in the pre-sale and main sale phase of the ICO. Since the ICO has just been over, therefore, people are left with the option of buying or exchanging them on different supported cryptocurrency exchanges. People who already have bought LoyalCoins can earn more LoyalCoins by the procedure mentioned above which is scanning the QR code of a product they purchase.
The platform is based on ETH, however, it also supports BTC and XEM. Since all of these currencies are cryptocurrencies, and cryptocurrencies can only be store in e-wallets, therefore, people who wish to buy LoyalCoin need to open an e-wallet first before they can actually buy LoyalCoin. E-Wallets can be opened with different companies around the world for free, however, with LoyalCoin you do not need any other company to be offering you an e-wallet because LoyalCoin has got one of its own. With LoyalWallet, you can store all of your LoyalCoins plus any other cryptocurrency you may have.
LoyalCoin doesn’t look like a scam, but with a project of its nature, it’s entirely reliant on adoption. So far, we haven’t seen much of that. There aren’t any noticeable red flags with the project overall.
After a careful review of the project, we can conclude that LoyalCoin is surely a legitimate crypto startup since it has a very simple, transparent yet useful concept with a workable objective. The ICO was successful, target funding is achieved and all details are transparently disclosed by the ICO.
- Lots of exchanges
- Simple and useful
- No direct backing (asset, profits, commodity)
- Limited adoption