When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of ToaCoin.
Origin & Background
ToaCoin is a cryptocurrency which has been developed for primary use in the travel industry. Many cryptocurrencies are designed with particular objectives in mind and this is no exception. The team behind the cryptocurrency wants travel companies to adopt the cryptocurrency as a payment for services. However, the team must produce a big enough community and an impressive value first.
The main aim of the company is to make travelling simpler by the usage of cryptocurrencies. Also, if they succeed with their ambition you will no longer have to exchange your money anywhere because you can pay with cryptocurrencies!
How Does ToaCoin Work?
On the whole, this is another cryptocurrency that you can use to purchase goods and pay for services online. If you hold ToaCoins, you may receive more tokens during the year. This procedure is known as staking. Staking can roughly be described as holding coins and then obtaining more coins pursuant to the number of tokens that you hold. The primary purpose of staking is to assist the blockchain in validating transactions.
Staking might produce a small increase in price, about 2% per year. However, it makes the users that hold the cryptocurrencies richer than they were initially.
ToaCoins has its own blockchain, which is something that many cryptocurrencies do not have. This is good because it gives the company independence. You will need a particular wallet to store ToaCoins because they have a particular code. Hence, you can install this wallet on your mobile device or desktop. They are accessible for Windows, MAC, Linux, Android and iOS.
Pros & Cons
We have not identified any obvious pros with the ToaCoin other than those mentioned above.
One might argue however that there are significant risks in having to convince an entire industry of changing their way of business in order to be successful. Also, the independence of having its own blockchain can just as well be a risk factor for the ToaCoin.
If you have concluded that this is the coin for you, congratulations! Buy ToaCoin here.