Direct Deposits And OTC Trading Introduced By ICONOMI To Boost Adoption

ICONOMI has revealed that it will be launching on their platform a fiat currency ramp-up service. This will allow direct deposits as well as over-the-counter deals with a view to boosting mass adoption on the platform. Users will consequently be able to participate in the crypto economy by being empowered to buy and sell Ethereum (ETH) and bitcoin (BTC) using fiat currencies of their choice. They will also be placed in a position of diversifying their digital asset portfolio by investing a basket of digital currencies via DAAs – Digital Asset Arrays.

When making a trade OTC users will be able to purchase Ethereum or bitcoin by paying with their bank account. The Ethereum or bitcoin that they consequently purchase will then be deposited into their ICONOMI account. The fiat currency ramp up will take place in several stages. Initially there will be a minimum of 50,000 euros required for fiat withdrawals and deposits.

Create an account

To participate all that users will be required to create an account with ICONOMI and then make sure they meet the requirements prior to making the deposits. Once a user is verified as a tier two user, they can then email ICONOMI and they will then be guided through the process of depositing. It will also be possible for the DAA managers of ICONOMI to seed their accounts using euros thus allowing for a process which is more streamlined and faster.

In the second phase of the fiat currency ramp-up service availability will be offered to more countries beginning with those in the Eurozone. During this phase all ICONOMI users will be in a position of using their ICONOMI services by making direct deposits straight from their bank accounts.

ERC20 smart contracts

The ICONOMI platform makes use of smart contracts that are powered by Ethereum in order to manage investments. One of the funds that ICONOMI offers and which also counts as the flagship fund is the Blockchain Index (BLX). The fund consists of projects that are established and well vetted. Currently BLX consists of 33 assets and these include Lisk (LSK), Qtum (QTUM), Monero (XMR) and Dash (DASH) besides bitcoin and ether.