Metatip. Tip your friends in seconds with META
This article serves only to educate readers on general trends and should not be relied upon to make investment decisions. We have interviewed Metatip; a cryptocurrency enterprise, to share their views only and are not promoting their offering. It is important to exercise caution and perform due-diligence before making any investment decision. This review will not accept responsibility for any loss, damage or inconvenience caused as a result of reliance on our articles.
With a market capitalisation of around $464 billion at the beginning of May, Bitcoin is the most popular of all the cryptocurrencies and is the centre of most cryptocurrency discussions. Developed in 2009 by someone using the alias Satoshi Nakamoto, Bitcoin is a virtual currency that is decentralised and able to facilitate transactions without the need of financial intermediaries like banks. Since Bitcoin’s creation, there has been a boom in the creation of other coins for different purposes. For example, Steemit; a platform for writers to publish their work, rewards their writers with a coin called Steem.
What is Metatip?
Metatip is a cryptocurrency enterprise that is built on the Metaverse Blockchain and seeks to improve convenience in peer-peer and peer-enterprise transactions through their mobile wallet app. Transactions can be conducted within 30-90 seconds at one of the lowest cost; currently 0.0001 ETP per transaction. With a vision of improving the accessibility of cryptocurrency to all, the app is made to be very user-friendly and suitable for individuals and SMEs which are not tech-savvy. Like its virtual currency, Metatip is not based in any one country and has staff working all over the globe from Malaysia to Switzerland.
The Meta Token ICO and APP
Initial Coin Offerings (ICO’s) are now the best way to raise funds for new projects. In 2017 alone, more than $5.6 billion was raised through ICOs while “traditional” venture investing in blockchain start-ups amounted to only around $1 billion. This is a huge leap from $240 million raised from token sales in 2016.
The Metatip team sees that there are a growing number of companies moving towards integrating blockchain technology into their business models.
To enable more companies to adopt blockchain technologies, the team has positioned Metatip to facilitate fast and cheap transactions between consumers and enterprises by launching their own coin; META Token, which is built on the Metaverse blockchain (click here to learn about what the Metaverse is). By building on the Metaverse, organisations can easily adopt the META Token given that the Metaverse has an easy integration which is transparent and fast. The META Token also boasts transaction speeds that are ten times faster than bitcoin and 1000 times cheaper per transactions which make it suitable for micro-transactions which will be especially applicable for transactions between consumers and small businesses. Additionally, Metatip wants to serve unbankable industries. For example, to enable Medical Marijuana establishments to transact in META Tokens given that the US federal government still classifies marijuana as a “Schedule 1” drug which has caused banks to avoid handling money from marijuana retailers to avoid the risk of being charged with money laundering.
To raise funds to grow Metatip, the team has also opted to conduct an ICO. Unlike traditional investment funding, there is no authoritative credit rating agency like S&P or Moody’s for tokens and thus cryptocurrency enterprises have to ensure that their offerings appeal to public vetting sites. These are some of the sites that Metatip has contacted for this purpose:
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