With bitcoins and cryptocurrencies beginning their revolution in this generation, we have seen that there are people who are quite intrigued by this. They want to be a part of this revolution but are often reluctant because they find some platforms which charge quite a number amount of fees. The fees include trading deposits, withdrawals, and other basic functions. To help people overcome this rock, Soferox it is an innovative platform which comes with ‘no fees’.
With the aim to start their Initial Coin Offering (ICO) at the start of September, the last chance to buy SFX tokens at a discounted rate would be 5th October 2017. By November, after the end of the ICO, Soferox will begin their infrastructural development. To ensure and verify whether all the steps taken for a secure platform are correct or not, the hiring of an auditor and tightening of the security will be done. The initial coins that are going to be offered on the platform would consist of Bitcoin, Etthereum, Litecoin, ZCash/dash, SFX.
The most exciting feature about Soferox is the Soferox Vault. It is a great way to safely store coins and gain interests on accounts. In this, the Vault users would have to set up two different accounts viz. a Trust and The Crypt. The Trust will be a powerful tool in the cryptocurrency theatre. Both the Standard Users and the Merchant users would have access to it. There are no minimum or maximum amounts that can be stored in the Trust. Each trust will have Owners and Co-owners who can approve withdrawals. There are no fees other than a one time set up fee which can easily be recovered from the interests.
The Crypt is designed to give the power back to the individual. There are no limits to the number of withdrawals. Initially, the interest will be paid on a maximum of 100 of any coin but will gradually increase as Soferox grows. A user can open an additional account but to incur interest on stored funds, users will have to pay a monthly fee per additional account.
Soferox has an option of either opening a Standard Account or a Merchant Account. Standard Account users will have access to the clear majority of the Soferox platform. The only fees any Standard Account user would have to pay is – creating and sharing invoices and possible credit card fees. If you want a more intense account, you can opt for the Merchant Account. The Merchant Users will have full access to the system without any fees and have the ability to convert crypto currency to fiat currency.
The ICO starts in September where Soferox will release SFX at the rate of 1 ETH = 1000 SFX tokens. 88% of the tokens will be distributed during the ICO, 10% fort eh development and 2% for bounty rewards. Soferox aims to attract users to its platform without any requiring fees.