🚀🔥 Coingrid - First ICO by a financial service provider in New Zealand 🔥🚀 - page 2.

auliahr

full member

Activity: 518

Merit: 100

Quote from: chailatte on October 29, 2018, 07:43:26 AM

Quote from: 5thangel on October 29, 2018, 02:17:46 AM

Is there a reason for only be accepting Ethereum (ETH) Huh

? Many people these days know that eth is not really fast or cheap anymore to move around.

Thanks for showing interest in our project 5thangel. The main reason why we chose ETH is for convenience reasons (eg our token is an ERC20 token).
We are happy to talk to our team about accepting other cryptocurrencies. Do you have any suggestions?

yes, you must consider receiving other coins, because not everyone is holding or having ethereum and sometimes they are more comfortable investing with other coins.

chailatte

copper member

Activity: 104

Merit: 0

Quote from: starkovblue on November 01, 2018, 03:13:06 PM

The project looks interesting, but it’s not clear what experience your team has in such cases. Everything looks like this is their first project. They don’t work for the community at all, and without it there’s no success in this project.

Hi starkovblue, thank you for your comment. Some of our team members have had experience in other ICOs or other cryptocurrency exchanges. However, you are right in the sense that some of our executive members do not have previous experience in cryptocurrency projects. Please note that our members are experts in their respective fields and have gathered to combine their knowledge in different fields to make this project possible. As a startup company, we are working with various consultancies and business advisors to combat this issue.

starkovblue

sr. member

Activity: 980

Merit: 270

The project looks interesting, but it’s not clear what experience your team has in such cases. Everything looks like this is their first project. They don’t work for the community at all, and without it there’s no success in this project.

chailatte

copper member

Activity: 104

Merit: 0

Quote from: ElectricheadGino on October 31, 2018, 02:47:15 AM

Could you please elaborate on the privacy aspects of this token? Since this has been approved by New Zealand's authorities, I assume any trading of the token would require personal information to be submitted to your company and/or the IRD for tax collection purposes and to stop funding terrorism. Also, would Coingrid automatically withhold taxes after exchanging the tokens for other currencies like they do with many investments sold in the United States (stocks, gold, etc.), or would this solely be the responsibility of the seller? From my understanding, cryptocurrency is treated as property and follows many of the rules of gold trading, but I'm not very familiar about withholding regulations as you can probably tell. This is one of the most legitimate projects I've ever seen in the crypto world and has piqued my interest. Thanks.

First of all, the fact that our token has been reviewed by authorities does not make it approved or endorsed in any way. At present, New Zealand regulatory bodies do not provide endorsements for ICOs. What we can confirm, however, is that we have had our project reviewed over a period of time, and there are currently no objections to our ICO. This was important to us before proceeding with promoting our ICO as we did not want to incur any unforeseen delays after our ICO launch date.

In terms of the privacy aspect, in order to purchase CGT during the ICO stage, users will be required to submit information to verify their identity (standard KYC which is comparable to other ICOs). This information will be held in accordance with the Privacy Act 1993, and will not be disclosed to any third party, unless that third party has authority to request such information (for example, if we are audited, certain details may need to be disclosed).

Our obligations under AML will become more stringent if we start accepting NZD in exchange for CGT and/or including when users wish to deposit fiat. It will be therefore be a preliminary requirement for all users to provide us with personal information in accordance with our KYC/AML requirements before a user may create an account and/or make any form of deposit (once our exchange is operational). At present, because we are only at the ICO of our project, we are only offering CGT in exchange for ETH.

Any tax obligations will be the responsibility of the trader / seller. We are also of the view that regulatory bodies are treating cryptocurrency as a valid form of property, however, from what we understand there is currently no guidelines or legislation that expressly touches on this issue; in this regard, there are still some ‘grey’ areas that we believe will be addressed by Parliament in the near future.

We hope this clarifies some of your queries, but please feel free to ask us more detail as we would like to be as transparent as possible for everyone.

ElectricheadGino

newbie

Activity: 18

Merit: 0

Could you please elaborate on the privacy aspects of this token? Since this has been approved by New Zealand's authorities, I assume any trading of the token would require personal information to be submitted to your company and/or the IRD for tax collection purposes and to stop funding terrorism. Also, would Coingrid automatically withhold taxes after exchanging the tokens for other currencies like they do with many investments sold in the United States (stocks, gold, etc.), or would this solely be the responsibility of the seller? From my understanding, cryptocurrency is treated as property and follows many of the rules of gold trading, but I'm not very familiar about withholding regulations as you can probably tell. This is one of the most legitimate projects I've ever seen in the crypto world and has piqued my interest. Thanks.

chailatte

copper member

Activity: 104

Merit: 0

Quote from: 5thangel on October 29, 2018, 02:17:46 AM

Is there a reason for only be accepting Ethereum (ETH) Huh

? Many people these days know that eth is not really fast or cheap anymore to move around.

Thanks for showing interest in our project 5thangel. The main reason why we chose ETH is for convenience reasons (eg our token is an ERC20 token).
We are happy to talk to our team about accepting other cryptocurrencies. Do you have any suggestions?

5thangel

hero member

Activity: 910

Merit: 508

Is there a reason for only be accepting Ethereum (ETH) Huh

? Many people these days know that eth is not really fast or cheap anymore to move around.

chailatte

copper member

Activity: 104

Merit: 0

One of the first ICOs in New Zealand!!
Confirmed by NZ Government branch (Financial Markets Authority) that there are currently no regulatory concerns!

Team of lawyers, bankers, researchers, senior developers and designers creating one of world's most secure and user friendly exchange!

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Coingrid - Cryptocurrency Simplified

● One of the first ICOs in New Zealand's. Whitepaper confirmed by local regulatory bodies.
● Coingrid Token (CGT) is used for transaction fees.
● Competitive transaction fee 0.05% per trade.
● Officially registered as a Financial Service Provider in New Zealand.
● Simplified UI designed for the masses while also offering "advanced mode" for veteran traders (prototype of "simple mode" available).
● Professional team members: senior designers, lawyers, researchers, developers, banker etc.
● The amount of tokens that our company holds will be scaled so we only own 30% of total supply regardless of how many tokens are sold.

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Private sale on NOW
Public ICO 23rd November 2018 ~ 23rd June 2019

[Whitelist now!]
https://www.coingrid.co.nz/kyc

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[REFERRAL][CGT] Earn $5 per sign up! Offer valid until $200,000 tokens runs out!

Official website: www.coingrid.co.nz
Whitepaper: https://www.coingrid.co.nz/whitepaper.pdf
Prototype/MVP: https://prototype.coingrid.co.nz
Facebook: https://www.facebook.com/coingridnz/
Twitter: https://twitter.com/CoingridNZ
Telegram: https://t.me/coingridnz
Discord: https://discord.gg/hpxVpJT

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Coingrid Token (CGT)

Coingrid is developing a cryptocurrency exchange based in New Zealand.

To facilitate the development of our exchange, we will be issuing our own token called Coingrid Token (“CGT”).

Once our exchange is live, CGT will be used to pay for trading fees. Users can purchase CGT with Bitcoin and/or Ethereum at our exchange. Coingrid will charge a trading fee of 0.05% per trade paid in CGT.

If the user does not hold enough CGT to cover the exchange fees in their account, the CGT equivalent of exchange fee will automatically be purchased at market price and the cost will be deducted from the trade. CGT is a token which means that it is tradeable.

Our exchange will be the only centralised exchange where CGT can be traded. Participants of ICO will need to wait until the launch of our exchange to fully utilise our token.

Please refer to our whitepaper for full description of features of our exchange.

Our private sale will begin in August 2018. We will be reserving an initial 25,000,000 CGT for our private sale.

SOFT CAP 10,000,000 CGT
HARD CAP 70,000,000 CGT
TOTAL TOKENS 100,000,000 CGT

Any CGT that is unsold during our private sale will be available during our public sale.

The ICO will begin on 23rd November 2018 12:00AM NZST and will end on 23nd June 2019 12:00AM NZST.

1 Ethereum will equate to 500 CGT. Our project will have a soft cap of 10,000,000 CGT and a hard cap of 70,000,000 CGT. If the hard cap is not reached, the total number of CGT supplied will be scaled. This is explained in more detail on page 7b of our whitepaper. If our hard cap is met, the total supply of CGT will be 100,000,000 CGT.

FAQ

Q: Can I invest using fiat?
A: No. During the ICO process, we will only be accepting Ethereum (ETH).

Q: When will CGT be distributed?
A: CGT will be distributed to our investors’ Ethereum wallets automatically via smart contract

Q: Where is Coingrid based and under which jurisdiction?
A: We are a registered company and a registered finance service provider in New Zealand. We aim to be compliant and abide by all applicable rules and regulations implemented by New Zealand legislation.

Q: What is the soft cap / hard cap of the ICO?
A: The soft cap is 10,000,000 CGT and the hard cap is 70,000,000 CGT

Q: What happens to CGT that I received if soft cap is not reached?
A: CGT will still operate as a utility token. Users will need to hold CGT in order to use our brokerage services and fees would be deducted from any transaction made.

Official website: www.coingrid.co.nz
Whitepaper: https://www.coingrid.co.nz/whitepaper.pdf
Prototype/MVP: https://prototype.coingrid.co.nz
Facebook: https://www.facebook.com/coingridnz/
Twitter: https://twitter.com/CoingridNZ
Telegram: https://t.me/coingridnz
Discord: https://discord.gg/hpxVpJT

Topic: 🚀🔥 Coingrid - First ICO by a financial service provider in New Zealand 🔥🚀 - page 2. (Read 698 times)