Hybrid investment crowdfunding platform Crowd of Angels has announced an opportunity to invest in a crypto-currency. LXCCoin is described as the “worlds first asset based crypto-currency. The company states it has “both 100% real asset value and inbuilt profitability”, The expected annual rate of return is predicted to be 12%-15%. LXCCoin is seeking to raise up to £250,000 at a valuation of £2 million in this raise on the Crowd for Angels platform. As an additional incentive, LXCCoin are offering registered Crowd for Angel investors who visit the LXCCoin pitch, a wallet and two coins even if they do not ultimately invest.
Crowd of Angels states that “LXCCoin represents the ‘second generation’ of crypto-currencies and has a number of advantages over existing, ‘first generation’ coins. The main benefits of creating a fully asset backed and profitable crypto currency are full investment recoverability, making it a real and predictable asset, giving real profit, having extremely low power consumption compared to i.e. Bitcoin, ensuring fast transaction times, granting full convertibility towards other coins and cash, creating stability, forecast-ability and liquidity.”
According to the LXCCoin web site the company was founded in Denmark in 2012 and became a UK holding company in 2014. LXCCoin links the value of their currency to a “multi-currency interest bearing instrument”. Per the description, “All invested funds in the LXCCoin are invested directly in P2P lending”.
Tony De Nazareth, founder of Crowd for Angels says: “This is a truly significant development for financial innovation in the UK. LXCCoin fits within our strategy of offering genuinely interesting investment opportunities via our regulated platform.”
Ragnvald Hoel, CFO of LXCCoin stated;
“There are 1.1 billion LXC Coins with a base value of €1 to be released over 4-5 years, and with an expected 12-15% annual performance, we expect a premium of around twice the performance per year. The coin will be listed on multiple crypto exchanges, in line with rising popularity, to increase its popularity and use.”
CTO of LXCCoin Tomas Wong said;
“LXCCoin is built on two of the best crypto-coin codes available; Bitcoin and Blackcoin, as a “Proof of Stake” coin. It has close-to-zero mining, and runs on its own node network combined with private wallets open for staking; fully securing the transaction network and keeping transaction times at a few seconds per transaction. We think this is the most secure cryptocoin available and it’s designed to stand up to the rigours and scrutiny of international trading.”
The London based crowdfunding platform Crowd of Angels is regulated by the Financial Conduct Authority and the recently joined the UKCFA. Crowd for Angels offers both debt and equity investments.
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