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#Finance All projects

Magma: Cryptocurrency backed by physical gold

Network for smart economy

stage Ended crowdsale

3.7 Rating

by 9 users


    KPLs

    • Employees4

    Team

    3
    man Mark Bailey

    CEO

    Mark Bailey is a blockchain evangelist and a product designer. Mark Bailey is also a consultant for Credit suisse in Germany teaching courses on blockchain technology and entrepreneurship.

    man Charlotte Holt

    CIO

    Mathematician and quantitative hedge fund CIO, She is an advisor to tier one projects bringing Blockchain, ICO, Digital Assets & Cryptocurrencies to the financial ecosystem

    man Winnie Clark

    CTO/ADVISOR

    Winnie Clark is a blockchain attorney licensed in the state of California, USA. She has been involved in the blockchain community since 2015 and consulted on multiple token sale projects


    Advisors

    1
    man Keith Holland

    ADVISOR

    Keith Holland is a blockchain and smart contracts developer with fintech experience. Always at the forefront of technology, he has mastered Ethereum and full stack development.



    Crowdsale details

    Distribution of tokens
    • Crowdsale (70%)
    • Tech-Development (10%)
    • Team Tokens (10%)
    • Legal and Regulatory (5%)
    • Marceting (5%)
    Details Indicators
    Token Symbol MGM
    Full Token Name Magma Token
    Crowdsale Start March 16th, 00:00 GMT+03:00
    Crowdsale End May 1st, 00:00 GMT+03:00
    Domain registration date 2017-12-06
    Domain owner WhoisGuard Protected, WhoisGuard, Inc., P.O. Box 0823-03411, Panama, Panama, PANAMA

    Cost of the token

    1 token for 0.22 $

    Price without discounts

    Bonuses

    MGM Token price 0.22$, Limited supply of Pre ICO, 10% Additional Bonus on investment equal or above to 5 ETH - 02.08.2018-03.15.2018
    MGM Token Price 0.35$, 5% Additional Bonus on Investment equal or above to 5 ETH - 03.16.2018-03.31.2018
    MGM Token Price $0.45 - 04.01.2018-04.15.2018
    MGM Token Price $0.60 - 04.16.2018-05.01.2018

    Crowdsale
    Bonus Dates Minimum purchase amount
    15% March 16 — 31, 2018
    10% April 01 — 15, 2018
    5% April 16 — May 01, 2018

    Accepted currency

    • Ethereum

    Rate the project

    Estimate the project on a five-point scale or switch to the simple scale

    Five-point scale Simple scale

    Relevance of the problem and Market size

    1 2 3 4 5

    Product competitiveness

    1 2 3 4 5

    Founders, Team & Advisors

    1 2 3 4 5

    Budget allocation and roadmap

    1 2 3 4 5

    Token economy, Tokenization & Business model

    1 2 3 4 5

    Distribution & Lock up of tokens, Discounts for early buyers

    1 2 3 4 5

    Summary rate the project

    1 2 3 4 5

    Rate the project by other users

    9
    Denys Serhiichuk April 15, 2018
    Rating of project
    1.8

    Advantages

    There are variety of bonuses, which investors can get. Perhaps, that is the only possible advantage I could see.

    Risks and disadvantages

    9 pages of Whitepaper is not enough to cover the whole idea of the project. Plus, nothing mentioned about the Roadmap and no there are no partners.

    Comments

    The idea is not unique. There are many similar platforms, suggesting coins backed by gold. Thus, those are more successful as they have MVP, while this one - not. As a result, I would not recommend to invest in this ICO.

    Natsumi Iwata April 04, 2018
    Rating of project
    4.2

    Advantages

    Risks and disadvantages

    Comments

    Xiuli Wang April 03, 2018
    Rating of project
    3.7

    Advantages

    Risks and disadvantages

    Comments

    Phil Zander April 03, 2018
    Rating of project
    3.5

    Advantages

    Risks and disadvantages

    Comments

    Lisa Dominguez April 03, 2018
    Rating of project
    3.5

    Advantages

    Risks and disadvantages

    Comments

    Alexandr Gonchar April 02, 2018
    Rating of project
    4.5

    Advantages

    Crypto currency, backed by physical gold, is a good solution capable of providing stability to this token, which could be its competitive edge over the other coins. In addition, there is a stable and large investor who can support the project.

    Risks and disadvantages

    It is not yet clear how the tokens will be tied to gold, how the ingots will be stored and how the security will be provided.

    Comments

    This is one of the few real projects where you can invest your money and get a good profit after a while. The project certainly deserves the attention of investors.

    Veronika Arbisman April 01, 2018
    Rating of project
    3.8

    Advantages

    Cryprocurrency value is based on physical gold. Helps gold owners trade, loan, invest and use their commodities for profit. Use ETF of physical gold as it securing. Exceed its mined amount of gold. Platform uses its own market place for the trading of precious metals.

    Risks and disadvantages

    No road map, really small list of advisers and moderate team for such heavy project.

    Comments

    Platform will help investors move their gold rapidly and easily and hedge gold against market volatility. First physically gold based cryptocurrency where holders can redeem their coins against physical gold anytime. 100% transparency of information about gold. ETF will help investors to trade gold much faster than physical gold does.

    Sofia Medda April 01, 2018
    Rating of project
    3.5

    Advantages

    The target market of the project is quite big. Banks are supposed to participate. So if successful, the project is going to be a solid one.

    Risks and disadvantages

    There should be much more information about the founders. I don`t see a roadmap... What does this project have already done?

    Comments

    I think it would be useful to connect with the team in order to get more information.

    Jordan Semanda March 26, 2018
    Rating of project
    4.7

    Advantages

    The use of gold as security assures the consistence in value of the Token. The initial crowd sales are promising. The use of blockchain and smart contracts ensures transparency. The platform provides access to MGM gold tokens through loans to those with insufficient funds. gold and other minerals to be traded on this platform are very valuable which means the value of the token will increase in a short time.it ensures safety of the investors assets.

    Risks and disadvantages

    The project might require a dynamic team of advisers.
    Disclosing the companies gold reserves might cause insecurity.

    Comments

    The idea of using physical gold attracts many investors and is an advantage over any cyptocurrencies. The blockchain also gives authentic ownership of the valuable assets which makes the trade market authentic.

    See more reviews

    FAQ

    General Questions

    What is Magma Coin?

    MagmaCoin co-funded by Dubai’s largest private multi-billion dollar company.The first Blockchain-based universe for decentralized trading, investing and education in financial markets, virtual goods and cryptocurrencies.

    What types of blockchains are supported by Magma?

    We are starting with the Ethereum blockchain technology, but will be developing an abstract interface that supports any chain that adheres to a set protocol that can create and confirm payment channels on Clove

    What type of gold does Magma use?

    We use 99.99% investment grade 1 kilo gold bars that are fully allocated. Our gold is sourced from an international gold refiner called Al Etihad Gold Refinery Dubai.

    Can I get my physical gold?

    Yes and anytime. You can redeem your physical gold if you wish.

    Contact our Customer Support team at +60 3 2633 4852 to place your delivery request.

    You will then receive an email confirmation of your gold redemption order
    Once the order is confirmed, you will receive an email notifying you about your gold shipment

    Our bullion provider uses a recognised courier service to deliver your gold to you. Your gold will be sent to the address that you provided to us that is logged in our database.

    Magma trade

    How will the tokens be distributed?

    Out of the 21 000 000 Mgm Tokens 50% Will be sold during Pre-Ico and ICO.

    What is the token sale address?

    Contract Address:
    0xf4BC877BC0405FB37fc7E368Eb0eA660D7c5900B
    Join our Token Sale here
    https://www.magmacoin.org/get-register-with-us

    How do I add the custom token?

    Token Address: 0x5ce146bd472fc026d227731282ec095597ac26a3
    Token Symbol: MGM
    Decimals: 8

    Where can I trade Magma?

    Offcourse you can
    After the pre-ICO and ICO Mgm will list on HiBtc, Cecex, And bittrex.

    How can I take part in this Pre-Ico And ICO?

    Just register your information at https://www.magmacoin.org/get-register-with-us
    All information will be provided after registration.

    When will I get my tokens?

    Tokens swap occur when the ETH transaction is verified on the ETH blockchain, which is normally immediate So you will get your Mgm tokens Almost immediately.


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