Bitcoin PR Buzz

Bonpay Achieves $6 Million Soft Cap Within Days of Token Sale

Bitcoin PR Buzz | Nov 16, 2017 | 06:30

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Multi-currency debit card provider Bonpay is off to a great start in its mission to expand the possibilities of cryptocurrency by making them simple, safe, and seamless to use, having reached its soft cap target of raising 15,000 ETH in its ongoing public token sale.

Launched on October 31, 2017, Bonpay has already raised close to 20,000 ETH — currently valued at more than $6 million. Scheduled to run for four weeks, or until its milestone goal of 50,000 ETH is reached, there is still plenty of time to participate in one of this autumn’s most promising crowdsale events.

A ready to use product

With a live product already available to use, Bonpay holds an edge over most other startups raising funds for development. It already offers customers a full-feature cryptocurrency wallet and debit card accepted for use worldwide in over 130 countries and supporting more than 125 currencies.

It is this working solution that has driven support behind the token sale, with engaged users, having a glimpse of the product’s potential, lending their full support to the future of Bonpay.

The Bonpay team, advocates of the idea of cryptocurrency, realized that an underlying problem remained for the new digital form of currency and worked on a solution to practicalize it for the real world. CEO Alex Blazhevych remarked that Bonpay’s solution for spending crypto funds freely, safely, and easily through instant and seamless conversion to fiat without hidden fees was key to the successful start to the token sale:

We know that our project offers a great solution for crypto users, but we didn’t expect that it will resonance so strongly with community. Our team is grateful for support, and we promise that we will never stop improving Bonpay, ensuring the best service for cryptocurrency use.

Benefits for early participants and big backers

BON tokens are still available at a base rate of 1 ETH for 500 BON tokens. With just over two weeks remaining in the token sale, participants can still benefit from an early bird bonus of 10%. The bonus will decrease to 5% in just a few days, which expires in the final week.

Participants can purchase BON tokens with ten major cryptocurrencies including Bitcoin, Litecoin, Ethereum, and DASH, as well as with 12 ERC20-based tokens, including OMG, Qtum, and PAY.

Token sale participants will also benefit from several perks when using the Bonpay debit card, such as a 0.65% incentive reward that can be received in BON tokens or ETH, as well as a 0.15% cashback bonus for every transaction.

Furthermore, big backers who contribute more than 20 ETH will access a range of extra features, such as a special Black Card design, an exclusive affiliate program, free card maintenance for one year, priority support, improvements on an already low-fee structure, and unlimited low rates on interbank exchanges.

In addition to all the above, committed users who buy more than 200 ETH worth of BON tokens will receive lifetime free card maintenance, a personal support manager, special access to the latest versions of Bonpay products, increased free monthly ATM withdrawal limits, free use of new payment methods through crypto-enabled gadgets, and special gifts.

Funds that are raised through the token sale will be used chiefly for further development and improvements to its existing product on the iOS and Android platforms, its web interface, and its multi-card platform. Immediate plans include the launch of its mobile app that will allow users to manage funds on the go.

Currently available to EU residents, Bonpay is in negotiations with leading card-issuing companies and exchanges in Asia, Africa, South America, Canada, Australia, and CIS countries to expand its userbase..

To learn more about its development roadmap and objective milestones, read the Bonpay whitepaper or access its website.

Bonpay is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Images courtesy of Bonpay.