by Nuno Menezes
Amon is revolutionizing crypto spending in daily life with their debit card. The Amon card converts your crypto to fiat in real time for everyday purchases. The company is also launching a powerful multi-currency crypto wallet for the card, a built-in exchange and state-of-the-art artificial intelligence (AI) that ensures you get the best value out of your cryptos while using them to pay for stuff at retail stores or online. You pay for things with crypto; the retailers get your payment in fiat, and Amon Card takes care of everything in between. All it takes is a swipe of the card.
What is Amon?
According to the project’s whitepaper, Amon (ticker: AMN) is a financial cryptocurrency platform that also offers a cryptocurrency card. By providing a full suite of financial services, the company is going to offer its users the ability to do many things on the Amon platform. From using it like a credit card or using it as an exchange for cryptocurrencies, users will have a completely new set of benefits never seen before. Imagine, in times of volatility, jumping from one crypto to another without ever having to leave your Amon wallet will be as easy as a couple of taps on the app.
The Amon Platform
The platform will have its own tokens. These tokens will be made available during the Initial Coin Offering (ICO). The tokens are the base of the ecosystem that the company is developing on. Tokens will be the means for users having other benefits when using the Amon card such as discount fees, access to a priority customer service line, and earning passive payouts simply by only holding the tokens. The Amon system is using cutting-edge AI software to learn the way markets fluctuate. It intelligently learns to predict changes in the future, as time goes on this will “learn” the trades even more accurately. The platform will let users decide what currency to use in payments. Users will also be able to choose the cryptocurrency themselves or use the AI integrated into the system so that it can calculate which the best option the user should take is.
The Amon platform token ticker is AMN. The Amon ICO will start with a Private ICO on March 1, 2018, running for 24 hours. During the private ICO users will receive 25 percent AMN token bonus, a free Amon Gold card and there is no requirement for minimum investment. During the public ICO, starting on March 4 until April 4, there will be a minimum investment of 0.1 ETH. Amon tokens will be issued depending on the total number of contributions. The base price of AMN tokens will be 1 ETH = 20,000 AMNs.
The ICO will begin on March 1, and it will last until April 4. Anyone buying the tokens sooner will be eligible for more discounts than if you invest later. There is also a bonus of 25 percent for those investing in the first two days.
The circulating supply of AMN tokens is 550 million. AMN tokens will be circulating when tokens are released after the end of the sale (30 percent ICO contributors and three percent bounty programs).
450 million AMNs will be allocated for reserves and will be locked and used only in special events related to the business operations. The 250 million AMNs tokens for advisors and the team will be vested respectively for six months and one year while the remaining 416,666,667 AMNs for founders will be vested for three years with a six months release programme starting from the second year.
What is Amon trying to solve?
Amon Card is trying to solve three fundamental existential problems with crypto spending:
1) Real-time conversion,
2) Dealing with crypto volatility,
3) Boosting retail acceptance as retailers no longer have to worry about converting crypto to fiat.
The company have developed a new approach ensuring 24/7 real-time conversion to fiat and at the best possible conversion rates. By doing this and providing users with a powerful card that allows them to buy with their cryptocurrency and enabling a user-friendly approach to everyday crypto spending the company feels they are contributing well to the sustainability of the crypto ecosystem. Amon gives everyday practical use cases for crypto and gives it new life.
Types of Cards
The company will also be releasing three types of cards; Silver, Gold, and Platinum. Each of these cards will have special benefits attached to it. During the ICO a Gold card will be given as a bonus. Limits and fees will change based on the number of AMN tokens held by the user and by the type of card. The AMN tokens will grant access to exclusive benefits to the Amon Card users like:
Holders of AMN tokens will get a special fee structure. Details of the discounts and low fees will be released after the ICO and will vary depending on the type of card and numbers of AMN tokens held.
Premium Customer Service
Customer service in the crypto sector is not up to the standards of other industries. For this reason, Amon will provide different levels of customer service with 24/7 priority line to AMN tokens holders.
Although AMN tokens will not be running any masternodes, the top holders of AMN tokens will be passed on masternode benefits that Amon accrues from cryptocurrencies that do payout these benefits. For details about how it works check out Amon’s Token Sale FAQs.
For every transaction made with the Amon card, you will get a percentage of AMN tokens as cashback. Cashback is at 0.5 percent for the Gold and Platinum cards.
With the card, Amon also has a multi-currency wallet enabling users to keep all their various cryptocurrencies in one place.
Amon is introducing the future of financial services using AI and cryptocurrency. By enabling multi-currency management and AI support along with the ability to convert cryptos to fiat instantaneously the company is set to blaze the trail for crypto spending and unleash a new breed of financial services.
BTCManager does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.