What is EthBits?
Ethbits Local is a new exchange that facilitates secure peer to peer trades allowing users to pay directly via their bank account or with physical cash. This will not be limited to Bitcoin and Ether, Ethbits Local will be adding many alt coins of which can usually only be bought online with Bitcoin.
Ethbits Local will commence trading in the UK, France, Spain, China, USA and Australia following the Token Crowd Sale in Spring 2017. But the best part is yet to come.
Ethbits will be selling some of the site tokens in order to enter the 2nd phase of development to add an additional platform Ethbits iTrade.
Ethbits iTrade will offer copy trading functions so users can copy the most successful traders on the platform to maximise their trading potential. In just a few clicks users can be replicating the most experienced traders in crypto. The more experienced traders can accumulate followers which in turn amplifies the profit they make and will also be rewarded by Ethbit Tokens.
Ethbits iTrade will also offer an iCF which is a Copy Fund that tracks the top 5 traders to make the trading process even more simplified. We will be also categorising cryptos in groups by risk and allowing users to invest in these groups based on an algorithms derived from the activities of the top traders.
Ethbits iTrade will allow the trading of 15 Cryptocurrencies and also will allow users to try the platform with virtual funds so you can try without risking anything. You can also use the platform as a normal exchange without the Copy Trading feature.
------------------------------------------What makes us different?
Unlike most exchanges ETHBITS local and Ethbits iTrade will be distributing up to 80% of the profit of its site to the holders of the site tokens in the form of ETHER. When Ethbits iTrade launches, in the 1st year Ethbits will give 80% profit from both platforms to the token holders.
In the 2nd year 60% and then in the 3rd year is 40% which continues (40% will be the profit share of Ethbits Local before the launch of
------------------------------------------What is ETHBIT Token?
What are Tokens? How will the ETHBITS iTrade Token Crowdsale work?
The ETHBIT token is a type of currency used to pay fees on the ETHBITS Local platform (for example to buy/sell Bitcoin, Ether and other cryptocurrencies). ETHBIT tokens can also be used to distribute dividends to investors. If you hold ETHBITS tokens, you hold a portion of our platform, and by holding a portion of our platform you are entitled to your share of a distribution of 40% of the platform’s profit. The dividends will be paid on a quarterly basis .
A total of 4 mill tokens will be sold and a maximum of 5 mill tokens will ever be in existence. The final number of Ethbits created will be determined by how many tokens are sold in the Token Crowdsale:
• 4 Mill tokens will be sold during the Crowdsale and all unsold will be burned .
• 10% of tokens sold will be used to drive the platform Ethbits iTrade
• 4% of the tokens will go to the core team and the remaining 6% will be used for Marketing and PR .
It’s easy to get started using an Ethereum smart contract and Ether. Receive ETHBIT tokens from our four tiers rolling out over a four-week period starting at 0.01 ETH https://ico.ethbits.com
Amount raised VS Profit Share
If less than 1 million usd if raised then the proportion raised will determine the % profit share. So the amount raised from 0 – 1 Mill usd will determine the % profit share from 0 – 40%. Everything over 1 Mill means the standard 40%.
------------------------------------------Why should I buy Ethbit Tokens?
There is an existing platform, Ethbits Local, that will start generating profit after the Crowd Sale and therefore allowing payments to the the token holders. So the Token will be attractive immediately without waiting for the main platform to be launched like similar projects. With these quarterly payments and the releases explained in our road map - Ethbits ICO