Iconomi (ICN) just listed on Faast!

If you find smart cryptocurrency investing to be confusing or time consuming, you’re not alone. There are a lot of factors that determine whether or not a project is credible; the project’s stated value proposition, the demand for such a solution, the experience and reputation of the team and advisors, partnerships, roadmaps…it’s A LOT to keep track of. Many people do not have the time or the inclination do all this research; they just want to make reasonably intelligent investment choices that position them for success without having to put in so much work. This is where projects like Iconomi (ICN) offer a solution. What is Iconomi (ICN) and How Does it Work? Iconomi is a platform that allows users to invest in Digital Asset Arrays (DAAs), which are basically cryptocurrency index funds. DAAs consist of a basket of selected cryptocurrencies chosen by experts (more on that in a minute) who do the research and decide which currencies are worth adding. The idea behind this is that the DAA managers do the work for you and select a diverse array of high quality projects that increase your likelihood of getting strong returns, while also spreading risk around. What differentiates Iconomi from other services like the Coinbase Index Fund are the fact that it is more accessible; anyone can participate, regardless of whether or not they are an “accredited investor”. Investments are managed with Ethereum-based smart contracts and the majority of funds are kept in multi-signature cold storage to protect against hackers. DAAs on Iconomi also allow for immediate withdrawal, so you never have to worry about your funds being inaccessible. The DAAs available on Iconomi are created and managed by companies and individuals contracted by Iconomi who have proven their expertise in building high-performing indices. In return, they receive a management fee, typically around 3 percent. There many different DAAs to choose from on the Iconomi platform, which differ in terms of currencies they include and the associated levels of risk. Users create an account, and select from different DAAs based on their goals and level of risk tolerance. Iconomi offers many different DAAs to choose from.For example, one of the most popular DAAs is the “Blockchain Index (BLX)” which is managed by Columbus Capital Ltd, and is one the most well-balanced options, including high market cap currencies and “platform” projects like Bitcoin, Ethereum, EOS and Stellar, as well as promising altcoins like OmiseGo (OMG), Zilliqa (ZIL), and Basic Attention Token (BAT). Other options include Crush Crypto Core (CCC) and Future Chain Index (FCI). In addition to the coins lists listed with these DAAs, there is the Iconomi native token itself, ICN. Originally, the plan was to reward token holders with profits as “shareholders”, but you can probably see how that would run afoul of the myriad laws regarding securities in many countries. Instead, Iconomi now follows a buyback model in which the company uses some of its profits to buy back ICN tokens from holders and then burning those repurchased tokens to create more value for investors. Iconomi Token Performance As you might imagine, this project has been generating a lot of buzz since the day it launched, first hitting the exchanges in September 2016 at $0.19 USD. After a few short-lived spikes, it corrected back to around $0.30 where it remained until summer 2017…and that’s where things started to go nuts. In June of that year, the price briefly shot up to nearly $5 before a significant drop of around 80% in the fall where it once again rose, this time caught up in the 2017 bull run. ICN reached an all-time high of $5.26 in early January 2018. The major correction of course, has spared no one, and ICN is currently around $0.38. If that sounds harsh, it’s important to keep things in perspective. There is no question that we are in a bear market right now, and it’s quite possible it could last for a while. This is the time when many people who bought at the top are abandoning ship. For people who’ve done their homework an understand that A) no bear market lasts forever, and B) cryptocurrencies are NOT just a fad, this is a buyer’s market. How to Buy Iconomi (ICN) with Faast Iconomi is offering something that people want: simplicity for crypto investing. So what’s the best way to add Iconomi to your portfolio? With Faast you can ICN (and over 100 other cryptocurrencies) to your wallet in just seconds using our easy click and drag user interface. Just select the currency you wish to swap, and it’s yours — no fuss, no hassle, no accounts, no headaches.