BlitzPredict: Complete Coin Guide
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The world of finances is always risky and the struggle is usually in the “win or lose” manner. A lot of people claim that risk is equal to rewards and if something is risky in case of success the returns will be higher. The blockchain technology and the companies which have adopted it, in order to implement their solutions are doing their best in to solve the problems that finance world along with a number of other spheres are facing. In this article, we will take a look and try to understand the BlitzPredict platform, what does it offer to the users, BlitzPredict coin (XBP), how to buy XBP and so on.
What is BlitzPredict?
BlitzPredict appears to be a fintech solution that concentrates on the liquidity and functionality of prediction markets and sports books through blockchain technology. BlitzPredict relies on aggregator to provide users with the best odds and timely payments. Through its smart contract tool, users can interact seamlessly and effectively within the marketplace. The platform of BlitzPredict harnesses the blockchain technology in order to benefit the consumers through the provision of a streamlined set of products.
Some of the main features of BlitzPredict include providing liquidity to the users of multiple sports books and prediction markets using BlitzPay. It also facilitates automatic placement of bets on prediction markets and sports books using smart contracts where a certain criterion is satisfied. At the time of the product’s launch, BlitzPredict is going to consist of an aggregator and smart contracting the functionality to facilitate information flow between experts and platform users. BlitzPredict offers a simplified payout and funding, aggregation of trustworthy betting tips and insights, and improved gambling transparency. As a matter of fact, BlitzPredict is not the first with similar solutions, however, it is doing everything possible to be the only one with its improved implementation of the available solutions.
The background of BlitzPredict team members is very diverse as it consists of a philosopher, business people, software developers and so on. The CEO of the company – Brett Richey, has previously been the president of BlitzPick and has been involved in various entrepreneurship projects as well as startup projects. The blitzpredict team works in conjunction with nine advisors. The company is registered in the US. Eyal Hertzog, Bancor’s CEO who hit his hard cap of $150,000,000 in a matter of hours is an adviser for BlitzPredict.
The BlitzPredict coin (XBP)
The primary function of the BlitzPredict cryptocurrency is their implementation into different functions of the BlitzPredict platform. The BlitzPredict crypto is referred as XBP token. The BlitzPredict platform automatically activates and the users get winnings instantly by the end of the event in case they make a bet in one of the partnering websites through XBP. Those users who choose to make a bet through other cryptocurrencies such as ETH, BTC etc. or through a fiat currency, they have a chance to choose whether they want BlitzPay activated after an event simply if they end up spending XBP.
Another function of the XBP tokens is activating the smart contracts. The activation of the smart contracts can automatically execute a bet in case the user is eligible, for instant payouts by the time an event is about to be complete, it allows users to enter the smart contract through sports books, as well as an automatic bet for those that are recommended by experts. Other use cases of the BlitzPredict tokens include functions such as for buying information from the experts or for executing contracts automatically based on the predictions made by the experts. The tokens are also used as a reward for the contributors on the BlitzPredict platform.
These tokens are ERC20 and have a total supply of 1 billion. The company behind BlitzPredict has claimed that it will never increase the supply. As at the time of the ICO the XBP tokens available for sale where 300 million and the company has promised to burn the tokens that are not sold. The company claims that these tokens do not appear to be an equity and do not represent any other interest in the BlitzPredict business. The company is not going to come up with any secondary market that will be designed for the XBP token trade and the tokens should not be positioned as an investment. The tokens are not backed up by any sort of assets.
The distribution of the BlitzPredict coins is as follows:
- Held by BlitzPredict – 2 – year vest, 1 – year cliff – 20% of the total supply.
- BlitzPredict team – 18% of the total supply.
- Pre – token sale – 15% of the total supply.
- Token sale – 15% of the total supply.
- Future hires – 9% of the total supply.
- Strategic Partners – 8% of the total supply.
- Seed Round – 5% of the total supply.
- Advisors – 5% of the total supply.
- Liquidity Reserve – 5% of the total supply.
The use of the funds is as follows:
- Development – 45%
- Marketing – 20%
- Legal – 15%
- Security – 10%
- Operations – 10%
The BlitzPredict ICO
The BlitzPredict ICO took place from the 5th of March, 2018, to the 12th of March, 2018. The initial hard cap of BlitzPredict has been $7,300,000, however, at the time of the ICO BlitzPredict managed to raise only around $4,374,000. During the token sale, the price of one XBP token was around 0.0292 USD which at the time was worth approximately 0.00004 ETH. During the whole process, the company has been using Know Your Customer aka KYC procedures to ensure the security of the participants and to avoid fraudulent actions. Prior to the ICO BlitzPredict has held an airdrop when there were 2,500 BPZ tokens distributed amongst the participants.
BlitzPredict Price growth
Like any other cryptocurrency BlitzPredict as well has been experiencing some ups and downs since its launch. To give you a better idea, on the 28th of March, 2018, the price of the XBP tokens was $ 0.01. Later, on the 31st of March, the price went down to $ 0.003. At the beginning of April the price has more or less stabilized and as of the 7th of April, the price of XBP has reached to $ 0.004. As of the 18th of April, the price of XBP is still around $ 0.004, meanwhile, the market cap is around $ 1,137,998.
How to buy BlitzPredict?
When it comes to buying any sort of cryptocurrency, the essential part of the process is getting a secure wallet for it. Cryptocurrency wallets are designed for storing as well as receiving or sending the tokens to other parties. Nowadays, with the rising demand of cryptocurrencies there a number of different wallets with various features and services. However, the number one thing that you should pay attention to is its security as if it is not safe enough you may lose all your cryptocurrencies due to hacks and thefts. As it was mentioned above the BlitzPredict coins are the ERC20 type of tokens, which means that this cryptocurrency is supported by various ERC20 compatible wallets. In this article, we will touch upon two well-known cryptocurrency wallets that support numerous tokens and BlitzPredict is in that list too.
MyEtherWallet is an outstanding, reputable and safe online wallet. This wallet supports many cryptocurrencies that are an ERC20 type. As MyEtherWallet is an online wallet you can access your BlitzPredict coins as long as you have an access to the Internet. However, despite the conveniences that come with an online wallet like MyEtherWallet, it is important to note that similar wallets store the coins online, which is a bit risky taking into account treats such as hacks and thefts. For this reason, you are not recommended to store large sums of cryptocurrencies, in this case, XBP tokens.
Another BlitzPredict wallet is the outstanding, safe and a very reputable cryptocurrency wallet known as Ledger Nano S that is particularly ERC20 compatible wallet. Ledger Nano S is supporting a wide variety of ERC20 cryptocurrencies both the well – known ones and the relativity new ones like XBP. This wallet appears to be a hardware wallet, which makes it extra safe. This means, that the tokens on Ledger Nano S are stored offline, therefore, eliminate the risks of hacks. The convenient design and the user-friendly nature of this wallet make it easy to use both for new users and experts. However, you need to purchase the device separately and beforehand.
After acquiring safe cryptocurrency wallet that supports XBP tokens and setting it up accordingly you are ready to buy the BlitzPredict coins. Please note that you cannot buy XBP tokens with fiat currencies, therefore you need to buy cryptocurrencies such as Ethereum and only then purchase XBP. After getting yourself ETH you are good to go to a cryptocurrency exchange platform that lists XBP tokens and get those. Currently, you can buy BlitzPredict tokens from a cryptocurrency exchange website known as Idex, where you can find the XBP / ETH trading pair.
Idex is a decentralized exchange platform from the Republic of Panama that has entered the market in 2017. Despite the fact that it is a relatively new exchange platform, it is quite reputable and there have been no safety issues by far.
Finally, after you buy the XBP tokens you need to store those in the wallet you have initially acquired.
To sum things up…
Like other ICOs and fintech companies, BlitzPredict too has its own solutions, visions, and mission that the company wants to implement and improve the industry in its own way. As a relatively new company and a token they still have a long path to go through.
We hope this article helped you to get a better idea about BlitzPredict and managed to answer your questions. Make sure to visit our website on regular basis and stay tuned for BlitzPredict news, as well as the ones concerning other cryptocurrencies. Thank you for reading and see you next time.