General Questions

What is the Spotcoin ICO timeline?

The Spotcoin private sale starts on April 10, 2018 and will end on June 1, 2018. Spotcoin will hold a Pre-ICO during this period to raise up to $1,000,000 USD. Spotcoin will then hold the Public Sale soon after as we continue to grow our amazing community. Join the Spotcoin Telegram group to be the first to know the official ICO date.

When will the whitepaper be published?

Version 1.0 of the Spotcoin whitepaper was published on March 10, 2018. Subsequent versions, including revisions, will be released leading to the ICO sale start.

What is the name of your token?

The Spotcoin token symbol is SPOT.

What is the token platform?

The SPOT token will be issued upon the NEO smart economy platform and will adhere to NEO’s NEP-5 standard

Why NEO?

NEO is an open source, nonprofit, community-backed blockchain token platform that aims to create a distributed network “smart economy.” NEO is best suited to provide the platform that best supports Spotcoin’s vision for the future. NEO was specifically designed to address legal and regulatory requirements for both fungible and non-fungible digital assets. NEO also incorporates digital identities which makes its network and any tokens built upon its platform an ideal solution for satisfying know your customer (KYC) and anti-money laundering (AML) requirements. NEO’s founders intend to work within existing legal and regulatory frameworks to bring real world assets to the blockchain. Spotcoin is excited about NEO’s vision and is allocating resources to directly support NEO’s goal of 100,000 Transactions Per Second by 2020.

Will SPOT be listed on exchanges after the ICO?

We are finalizing partnerships with three exchanges and will provide updates on all community channels, by press release, and here in the FAQ when SPOT listings are confirmed.

What is the token lock-up period?

The token lock-up period for private placement sale is 12 months after token distribution.

What is the total amount of SPOT tokens available for the private placement sale?

Spotcoin is committing up to 16,000,000 SPOT tokens for the private placement sale.

What is the token distribution plan?

The total token supply will be 99,000,000 where 67% will be sold during the Spotcoin private placement and ICO, 19% held as a company treasury, 8% will be distributed among Spotcoin team members, advisors and shareholders. The remaining 6% will be spent on marketing.

Why should I buy SPOT?

Spotcoin will offer its customers the highest dividend rates on the market: 51% from exchange fees, as a weekly dividend and an additional quarterly dividend of 12% from net profit earned across all Spotcoin business lines.

Is Spotcoin a mineable token?

No, the token will be minted on the NEO platform via smart contract during the toke sale. The 99,000,000 tokens will never be increased in quantity. Tokens that are left unsold from the ICO will be burned.

What forms of payment are accepted ?

Digital Currencies: GAS, NEO, ETH, BTC, SIB
Fiat Currencies: USD, EURO via bank transfer
Credit/Debit Cards: Visa / MasterCard

What level of Know Your Customer (KYC) and Anti-Money Laundering (AML) screening is required if I want to participate in the ICO?

All investors will be required to pass our KYC/AML assessment administered by our KYC/AML partner.

How can I store my tokens?

Any wallet that supports the NEO NEP-5 token standard will be able to store SPOT. We recommend the NEON wallet.

What is the Soft Cap and Hard Cap?

The Spotcoin ICO soft cap is $5 million and the hard cap is $30 million (USD).

Private Placement Sale

When does the Private Sale start?

The SPOT private sale begins on April 10, 2018, at 18:00 (GMT+4)

When does the Private Sale end?

The SPOT private sale ends on June 1, 2018, at 18:00 (GMT+4)

What is the minimum SPOT purchase requirement for private sale participation?

A minimum purchase of 100,000 SPOT is required to participate in the private sale.

What is the SPOT price schedule?

Private Sale week (date) SPOT Price (USD)

Week 1 (April 10-16) $0.25
Week 2 (April 17-23) $0.31
Week 3 (April 24-30) $0.33
Week 4 (May 1-7) $0.35
Week 5 (May 8-14) $0.38
Week 6 (May 15-21) $0.45
Week 7 (May 22-28) $0.45
Week 8 (May 29- June 1) $0.45

What is the total amount of SPOT tokens available for the private placement sale?

Spotcoin is committing 16,000,000 SPOT tokens for the private placement sale.

Can citizens from the United States of America invest in the private token sale?

Yes, any accredited investors based in the USA may purchase SPOT tokens if they qualify under Regulation D of the United States Securities Act. Please reference Regulation D - §230.501 (Regulations) to determine if you qualify. Classification as an "accredited investor" requires written confirmation from a tax advisor, lawyer or chartered accountant in accordance with U.S. regulations.

Public Sale FAQs

When is the Pre-ICO?

Soon! Specific dates will be announced shortly.

How much money will be raised in the Pre-ICO?

The Pre-ICO will raise up to $1,000,000 USD

What is the token price for the Pre-ICO?

SPOT will be sold during the Pre-ICO at a price of $0.40 (USD).

Will tokens bought during Pre-ICO have a lock-up period?

Tokens minted during the Pre-ICO sale will have no lock-up period.

Why hold a Pre-ICO?

We will have a Pre-ICO to reward the community with the chance to buy SPOT at a 20% discount.

When is the ICO?

Join the Spotcoin Telegram group where we will announce the official ICO date. We are committed to growing a strong, supportive community in order to further scale up Spotcoin in a sustainable way

What is the token price for the public sale?

SPOT will be sold during the ICO at a price of $0.50 (USD).

Are investors from the United States, China, Singapore or South Korea permitted to participate in the Public Sale?

No, citizens and residents of the United States, China, Singapore and South Korea may not participate in the SPOT public sale.

What is the minimum SPOT purchase requirement to participate in the public sale?

A minimum 50 SPOT must be purchased to participate in the public sale.

What is the maximum amount of SPOT that may be purchased during the public sale?

A maximum of 1,000,000 SPOT may be purchased during the public sale.