What is MidasCoin?
MidasCoin is the backbone of our company Midas Payment LTD. Unlike traditional cryptocurrencies, we secure the value of MidasCoin against real gold.
The gold is held in a gold reserve with a guaranteed daily increment, allowing us to effectively guarantee the value. This allows us to provide our customers independence from the volatility many cryptocurrencies face today, and allows merchants the opportunity to reduce the risk in accepting cryptocurrencies.
MidasCoin is distributed with absolutely No Premine and No IPO, using a custom distribution model called Scrypt Proof of Mining (Scrypt PoM).
Because MidasCoin is backed with real gold, we are able to provide intrinsic value for both the consumer and the merchant.
Merchants can accept MidasCoins for their products or services, and using our Midas Debit Card they can withdraw their earnings from any MasterCard accepting ATM!
Miners who point their hash rate towards our exclusive Proof of Mining pool will be rewarded with MidasCoins, with which they can redeem for real Gold Grams or other products and services offered on our WebShop. Our Proof of Mining, or PoM pool is the first of its kind. We’ve also included a very generous referral system, so make sure to stop by the pool!
The investors behind the Gold Reserve
We have established a group of venture investors behind Midas Payment LTD who belong to a large franchise of pawn shops, including several brands and shops within various cities within Europe.
This includes but is not limited to Rome, Madrid, Lisbona, London, Paris, Bruxelles, Vien, and Amsterdam. These investors have committed to contributing towards the gold reserve during the MidasCoin distribution time frame of 36 months.
The starting gold reserve is 20,000 grams (24K), held in a safety deposit box at Centrum Bank AG – Kirchstrasse 3 – 9490 Vaduz Liechtenstein.
Our investors have committed to increase the reserve with a minimum of 333 grams of gold a day (10,000 monthly) for the first 12 months, 667 grams a day (20,000 monthly) for the next 12 months, and finally 1200 grams a day (40,000 monthly) for the last 12 months.
The midas value is 100% transparent and constantly increasing. Learn more about how it is generated and how to retrieve it through our Economic Data API.
All this sounds great, how do I get started!?
If you’re a merchant, you can find whatever you need at this same site. If you want to learn more information about the MidasCoin currency, such as coin specifics, download wallet, claim bounty, use our mining calculator, and much more…