The world of cryptocurrencies is developing at a fast pace. I dare to say that 2017 was the year of cryptocurrencies. Eight years have passed since the initial issue of bitcoin. However, the face of forex markets has changed over the time beyond recognition. As of present, cryptocurrencies constitute an inseparable part of trading currency pairs with the total market value worth hundreds of billions of dollars. There are thousands of various types of cryptocurrencies and new ones emerge all the time.
Hand in hand with the growing amount of cryptocurrencies the problem of their exchangeability has occurred. The current ways of exchanging currencies are far from perfect. Various cryptos must use a third party (intermediary). These third parties are naturally inclined to fraud or being hacked. The character of exchanging currencies as we see now is in opposition to the very idea of decentralized currency exchange.
The project known as the Open Trade Network (OTN), established under the OTN Foundation has the ambition to change the current way of trading and exchanging cryptocurrencies. Like the Internet-connected separate computers and autonomous networks into a World Wide Web, OTN is set to connect isolated blockchain networks. The goal of OTN is to develop a decentralized platform for trading.
Ambitious are big, investments huge. To turn the plan into reality, the OTN Foundation has come up with its own currency to help kick off the project.
OTN tokens – this is the question
OTN tokens (something like OTN version 1) should play a key role in the development of the Open Trade Network. Yet, the OTN Foundation has committed to exchange, after the launch of the network, the OTN tokens for OTN coins (representing the crypto in the true sense of the word) at the rate 1 to 1. The project has a strong partner, IQ Option, the world’s leading broker highly reputed for its services in the trading of binary options and other assets.
For the mining of OTN tokens, the role of IQOption is crucial. The new crypto is only available to those who trade cryptos with IQOption. The number of tokens depends on the number of traded assets over the recent seven days. The first issue of OTN tokens took place on 16 October with the total of 350,000 tokens divided among 29 765 IQ Option clients.
The OTN Foundation plans to issue in total 100 million tokens. 21 % of the amount should go to IQOption investors and the rest be divided between OTN wallets, token holders and IQOption shareholders. Some part of the crypto should be retained for future investments.
As shown on the graph, the price of OTN exceeded in the past the level of 50 dollars. Now it has stabilised around 12 dollars. Therefore, we believe that the ideal time to buy has just arrived. OTN tokens can be bought at a crypto exchange or as part of trading with IQ Option.
You too can get OTN tokens
There are two ways to acquire OTN tokens:
- To buy the crypto at a crypto exchange such as Livecoin.net. ITN tokens were traded as of 21 December 2017 at USD 8.9.
- To start trading cryptocurrencies with IQ Option. You certainly know that in order to participate in trading you must pay some small fee. Traders with IQ Option will get a benefit: 50% of the fee will be automatically converted into OTN tokens and transferred to the wallet. Later on, you can exchange the tokens for dollars or keep them for future.
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Does it pay off to invest in OTN tokens?
The Open Trade Network offers a new perspective of trading cryptocurrencies as well as other commodities. If the vision of the OTN Foundation and IQ Option comes true this will be a new revolution. The OTN tokens are insured against speculative bubbles through the nature of the issue. The intention of IQ Option and the OTN Foundation is not to generate profit. The primary goal is to invest in an internal trading platform. It is the long-term vision that makes OTN tokens a very attractive commodity. You too may contribute to the shaping of the future of the financial sector.