First ‘crypto-currency’ launched via crowdfunding

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LXCCoin has been launched by Crowd for Angels as the first asset backed ‘crypto-currency’, which is claimed to offer lower power consumption than competitors such as Bitcoin.

Touted as a second generation of online currency, LXCCoin is said to offer “fast transaction times, granting full convertibility towards other coins and cash, creating stability, forecast-ability and liquidity.

LXCCoin Ltd. CFO Ragnvald Hoel said: “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.”

Crowd for Angels, a regulated crowd funding platform, is seeking to raise up to £250,000 for LXCCoin, giving a valuation of £2m.

 

 

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 16 years he has been based in London writing about funds and investments . From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope.

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