UPDATED 08:00 EDT / DECEMBER 09 2014

NEWS

Ziftr launches presale for altcoin ziftrCOIN

ziftrCOINNew Hampshire-based Ziftr has launched its new alternative currency (altcoin) ziftrCOIN on presale today.

ziftrCOIN is being pitched as a gateway coin to mainstream cryptocurrency, and has been “designed to onboard the next 10 million cryptocurrency users and to help fulfil Ziftr’s goal of bringing cryptocurrency into the mainstream for consumers and retailers.”

The coin comes with a range of tools: along with the altcoin itself, the company is offering ziftrPAY, a secure API enabling acceptance of payments in ziftrCOIN, other forms of cryptocurrency (presumably Bitcoin,) and credit card. The remaining tools are ziftrSHOP, an online marketplace featuring Ziftr’s retail network where users can spend their coins, and ziftrWALLET, a multicoin digital wallet.

“If you believe in the future of cryptocurrency and you want to see mass cryptocurrency adoption in the next couple years, the keys to making this happen are enabling retailers to easily accept not only Bitcoin but the many popular altcoins and getting the next 10 to 15 million users on board with cryptocurrency,” said Bob Wilkins, CEO of Ziftr and ziftrCOIN.

ziftrCOINs will start at 1 BTC for 1,600 ziftrCOINs at presale then gradually rise to 1 BTC for 533 ziftrCOINs. Participants can purchase ziftrCOIN at amounts lower that 1 BTC.

The company is also offering rewards for early participants through several partnerships, including one with Red Harbinger which offers rewards including ziftrCOIN swag,  mining rigs, and an all-expense-paid trip to the Ziftr office.

To promote use, Ziftr plans to give away 300 million ziftrCOINs in late 2015, with a maximum of 100 ziftrCOINs per person. Each ziftrCOIN will have a minimum redemption value of $1 when used within Ziftr’s retailer network.

The company believes (quite rightly) that more needs to be done to familiarze people with alternative digital currencies, with ziftrCOIN aiming to do so: “Our hope is that by giving ziftrCOINs away to people who haven’t yet used cryptocurrency, they’ll become familiar with using it within the Ziftr retailer network and gradually begin using Bitcoin and other altcoins as well,” said Wilkins. “In this way, ziftrCOIN really is designed to be the gateway coin to cryptocurrency adoption, and its success will increase the value of all cryptocurrencies.”

All ziftrCOINs purchased in the presale will become available for use in February 2015.


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