Lala World Coin Guide
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A lot of people usually associate the finance world with something full of greedy people who care about only one thing – money. The crypto finance is not quite like that though. In crypto finance, people usually want to make a change (money is good but making money and a positive change is even better). A bright example of this can be Lala World. Since day one, Lala World has been concentrating on migrants and their families. The project offers an ecosystem, which lets people solve a number of problems very easily and smoothly. Those problems may be employment issues, finding NGOs (Non-governmental organizations), digital ID’s, building communities and most importantly it capitalizes to cover the gap between cash and digital money. It will be a completely new way of making payments, taking loans, insurances and so on. Initially, Lala World has become known to the public as an ICO, however, after the successful completion of it, the Lala World platform is working fully and promoting its Lala World cryptocurrency. In this article, we will try to find out what is Lala World coin, did Lala World experience any growth and many other important details.
What Is Lala World?
Lala World offers its users an ecosystem designed for financial products, technology for those who are underbanked and communities.
Lala aims to solve this by building a blockchain-based financial ecosystem that will revolutionize the way people make payments, borrow money, access insurance, and other general banking services. All these services will be available through their online platform known as Lala wallet. Lala wallet is built on the Ethereum blockchain which is able to store various transactions efficiently hence eliminating lengthy procedures and processes involved in other centralized financial institutions. Lala also uses biometrics and smart contracts to ensure the whole process is secure, safe and transparent.
The target markets of LalaWorld are individual users, micro-entrepreneurs, and small businesses. After the creation of a new infrastructure that is peer to peer, the company wants to revolutionize the way its target market is transacting nowadays. It offers not only domestic but also cross-border payment methods, insurance, a platform to borrow money and a number of other products that are typical of banks. However, LalaWorld, in contrast to the traditional banks, has eliminated the idea of the third party. In other words, LalaWorld offers a service that is using the bright sides of both blockchain technology and the financial institutions.
The LalaWorld team thinks that the products, services and the features listed above will be able to help the grassroots and bring those on the same level with the communities. By eliminating the participation for the intermediaries saves a lot of time from the settlement phase and overall becomes more efficient. The productive, yet risk-averse structure is aiming to let people have as much control over their finances as possible. The level of complications is mainly reduced through the Smart Contacts.
The Lala World team
The team behind LalaWorld comes from Singapore. The LalaWorld team includes professionals who have relevant experience both in the business world and in technology-related spheres. The CEO Sankalp Shangari, for instance, has worked with outstanding companies such as JP Morgan in Singapore, and Deutsche Bank. He has held the position of a vice president at both of those globally recognized banks.
LalaWorld has also started to partner with a number of companies from the Middle East, Africa, Asia as well as CIS (Commonwealth of Independent States) countries.
The Lala World coin
The LalaWorld company has created its own ERC20 tokens that are known as LALA tokens. The coin supply of LALA tokens is 250 million and the tokens are not minable. At the time of the ICO, one LALA was worth 0.0001 ETH (aka 1 ETH = 10,000 LALA). The LALA tokens may be converted into BTC, ETH, and Dash. These tokens serve a wide range of purposes – international payments, various transactions and so on. In order to incentivize people to get LALA tokens, the company is giving the LALA holders rewards depending on the number of transactions, the frequency as well as the amount of the transactions. The LALA tokens may be used for the following purposes:
- LALA Transfers – Users may send money both internationally and domestically and use LALA tokens in order to avoid high fees. The users also may receive rewards for making transactions.
- LALA Bill Pay – LALA tokens may be used for making bill payments around the world. If a user makes multiple bill payments through LALA he or she will get a reward.
- LALA Lends – LalaWorld offers its users an opportunity to take loans quickly and with quite low-interest rates. Later on, those users who qualify may use the various microlending schemes.
- LALA Referral – The holders of LALA tokens may refer to other users. As a result, the LALA wallet gains a new set of free tokens. Also, the users may get a share from the revenue of the transaction that is made to refer to a new person. The only requirement is to hold the LALA tokens.
- LALA Services – LALA investors are allowed to take part in community projects and lend their tokens there. This, however, should be done only in exchange for fair interest rates. The users may lend even fiat currencies or cryptocurrencies in exchange for LALA tokens.
- LALA Participation – The investors who are involved in LalaWorld for the long run can pick a community project and have a vote for the preferred ones. This benefits both the chosen communities and the LalaWorld ecosystem.
Lala World coin distribution
- 60% of the total tokens created are sold and distributed during the pre-ICO period and the ICO.
- 15% of the total token supply is allocated to ICO founders, early investors, tech teams, and existing or future employees at LALA.
- 10% of the total is given to the advisors.
- 15% are credited to a reserve.
Lala World ICO
The LalaWorld ICO started on the 5th of January, 2018 and ended on the 13th of February, 2018. LalaWorld successfully raised $20,191,350. During the ICO the company allocated the 60% of its tokens which is 150 million LALA tokens. During the ICO the accepted currencies were – fiat, BTC, and ETH. The company has put a lot of emphasis on the KYC (Know Your Customer) process and the verification process was mandatory. At the time of the ICO LalaWorld has announced an airdrop during which it has allocated 200,000 LALA tokens to the participants from around the world.
Lala World price growth
The LalaWorld market cap has reached its highest on the 27th of March, 2018, as it went up to $ 6,903,750. Just like any other cryptocurrency – LalaWorld crypto has been experiencing some volatilities and on the 30th of March, 2018, it has decreased to $ 5,413,390. As of the 3rd of April, 2018, the LALA crypto market cap is $ 6,539,010. The LALA tokens recently have experienced a 14.77% growth and currently, as of April 3, 2018, one LALA token is worth $ 0.035019. The fact that LALA tokens had about a 15% price growth during this period of time is rather an advantage. The reason it is an advantage is that currently many cryptocurrencies and tokens are having a downfall in their prices and market caps.
How to buy Lala World coin?
As it has been mentioned above – LALA token are ERC20 tokens. Therefore, these tokens can be stored on ERC20 compatible digital wallets. As a matter of fact, in case you do not have a cryptocurrency wallet you need to get one before buying LALA tokens.
The steps that you need to take for buying LALA tokens are as follows:
- Get an ERC20 compatible wallet that works as a LalaWorld wallet as well.
- If you do not have BTC or ETH buy it from exchange websites. You may find a guide on how to buy BTC here.
- Deposit the cryptocurrency you purchased on the website that supports LALA tokens.
- Store your tokens in your wallet. Please note that you should never share your private address with anyone, otherwise, your tokens can be easily stolen.
Lala World wallets
Please note that choosing a cryptocurrency wallet is very crucial because if it is not safe enough you may become a victim of a theft or hack and lose all your coins. Some of the wallets that you may use are:
MyEtherWallet >> This is one of the most popular ERC20 compatible wallets. It is a hot wallet, which means that your wallets are stored online. Even though MyEtherWallet is a crypto wallet with a good reputation, you should be aware that hot wallets are vulnerable to hacks. On the other hand, similar wallets are very convenient to use as they let you access you tokens unless you have an Internet connection.
MetaMask >> This cryptocurrency wallet that comes in form of an add-on to browsers such as Google Chrome or Firefox. MetaMask has a quite good reputation amongst its users and it is good to use for LALA tokens.
Ledger Nano S >> This is a hardware wallet, which means it comes in form of a device and works offline. For this very reason, Ledger Nano S is considered to be one of the safest cryptocurrency wallets. It is easy to use, however, you need to buy the device.
Lala World exchanges
After getting a proper cryptocurrency wallet you are ready to buy LALA tokens. As a relatively new cryptocurrency, LALA is not listed on many exchange platforms yet. Recently, LALA tokens got listed on a cryptocurrency exchange platform known as Coss.io. COSS stands for Crypto One Stop Solution. This is an exchange platform that supports transactions, investments and offers its own wallets. It offers the LALA/BTC as well as LALA/ETH trading pares.
To sum up…
LalaWorld seems to have an interesting idea that will benefit the people who need its help. At the same time, the LALA tokens may be a rather interesting investment and a useful tool for using the LalaWorld services.
We hope this guide was helpful for you to get a better idea about LalaWorld and its LALA tokens. Make sure to check out our website for more interesting and comprehensive articles about everything crypto. See you next time..!