BuyUcoin, a cryptocurrency exchange platform and Blockchain Wallet company announces the launch of BuyUcoin Token (BUC) to be established with a total supply of 100 Million Token. According to company executives, the newly launched token is planned to serve various purposes such as to be used on Global BuyUcoin Exchange for paying of any kind of fee and it can also be used as a mode of payment on various online portals by users to buy products.
In a statement, the company said, the BuyUcoin Token (BUC) is established on the NEM Blockchain and follows the NEM token standards for their own token (BUC). At present, the BuyUcoin Token (BUC) is open for initial booking before it is opened for trading and other utility purposes with a total supply of 100 million tokens.
Contrary to most cryptocurrency organisations, the BuyUcoin team has decided to steer away from creating any kind of speculative interest in their token. With the emergence of a new financial asset class in cryptocurrency, Decentralized exchange protocols and related software innovation in the Blockchain industry are poised to disrupt asset trading on a global scale.
BuyUcoin plans to build a robust, easy, secure and high liquidity Decentralized Exchange, where BuyUcoin Token (BUC) will be used as one of the key base assets and coins to be spent in exchange fee with discounts and other modes of payment.
This development by BuyUcoin comes at an opportune time when the Reserve Bank of India’s (RBI) mandate, which was released on 5th April 2018, issued a directive to all banks, e-wallets and payment gateway providers to stop any kind of transaction done with Bitcoin and other cryptocurrencies within three months. This mandate will be in full implementation from the month of July 2018 when the three-month deadline given to banks ends.
Shivam Thakral, Co-Founder and CEO, BuyUcoin said, “BuyUcoin Token (BUC) is a stepping stone towards the building of next level products for the cryptocurrency Industry. With long-term perspective, we believe decentralised exchanges will take this industry forward. Currently, the intervention of several other governments around the world has created several roadblocks in the growth of this industry, while solutions remain in the basics.”
On 1st June 2018, BuyUcoin will be doing 25,000 BUC airdrop, which will be distributed to BUC holders according to the ratio of the amount of BUC they are holding to the amount of total BUC booked by that time on BuyUcoin.