Let’s face it: cryptocurrencies are unpredictable. On December 22, 2017, the price of Bitcoin fell by 21 percent on a single day. This sort of volatility puts traders and investors, specifically those with little experience in crypto trading, at significant risk. Where to move your assets when crypto prices start plummeting?
Swiss-based platform X8Currency bridges the gap between traditional and crypto economies. With its cryptocurrency X8C, the company attempts to bring to investors, traders and savers a solution that does not only act as a safety net but also provides more utility.
So how is this safety net created? With X8C, instead of withdrawing cash from online exchanges to avoid the risk of their insolvency, an investor can choose to convert his assets to a stable and secure cryptocurrency that is redeemable for each of eight fiat currencies (EUR, USD, JPY, GBP, CAD, AUD, CHF, NZD) and gold.
By diversifying into a number of currencies and gold, X8Currency creates an automatic hedge against fluctuations in any single currency or precious metal.
This diversification process is optimized by Automatic Reserve Management AI technology – a proprietary artificial intelligence system – which chooses the best possible array of fiat and gold in order to provide liquidity and stability for investor funds.
Security, stability, and liquidity
A token like X8C is a great fit for people looking for security, stability, and liquidity – no matter if that investor is a retiree with a savings account or a large corporation.
People with little experience in trading stand to benefit by keeping their savings in X8C because it will provide a hedge against erosion due to foreign currency fluctuations.
For more seasoned investors, the currency can be used to lock in profits using existing exchange mechanisms without having to worry about bubbles
Furthermore, for large financial institutions, X8C offers excellent liquidity, which allows them to safeguard their interests in adverse financial markets. It also provides stable returns and acts as an alternative to traditional investments like bonds and bank deposits.
And finally, businesses can benefit from using X8C as they can finally accept a cryptocurrency without having to worry about volatility. This allows them to safeguard their margins.
How stability is achieved
X8C, the currency token, will be the main product that is on offer but there is also a parallel token called X8X, that is used as a key to issue and exchange X8C tokens. X8X will be based on Ethereum blockchain technology and is ERC-20 compliant.
Investors must hold X8X tokens in order to be eligible to purchase X8C tokens. A total of 100 million X8X tokens will be issued through a Token Generation Event (TGE) but can also be obtained through crypto exchanges.
Adding some stability to a fickle market
X8C contributes to one key part of the crypto market that hasn’t received much attention yet: stability. X8Currency is self-styled as “the ultimate crypto safe haven.”
This token shows that with the right technology and system, cryptocurrencies can be highly versatile assets that can be molded to any use case. Investors will be able to take advantage of the benefits that cryptocurrencies provide while still enjoying the stability of gold and fiat currencies. Adoption will, of course, be the key factor for X8C – but the platform does show great potential.
Investors can purchase X8X with Ethereum (ETH) by getting themselves whitelisted. The Token Generation Event Whitelist is currently open for signups and will close Jan 13, at 12 noon.