People are asking the same question again and again “Will OneCoin be convertible to cash in October 2018.” I decided to write a short article about OneCoin conversion to Fiat currency on 8 October.
But wait a minute, did you really understand the vision of OneCoin?
If Yes, it awesome. If no, read this article carefully.
What is the Vision of OneCoin
Before asking the question “Will OneCoin be convertible to cash in October 2018” you must understand the vision of Dr. Ruja. OneCoin aims to be the global digital currency of the future.
The purpose of OneCoin is to be used in different physical stores and online shops around the world. But I don’t know people are asking about converting it into fiat currency.
The success of OneCoin is totally based on OneCoin. If users will remain loyal, the OneCoin can make a rapid growth. On the other hand, converting OneCoin into fiat currency can cause the decrease in the value of OneCoin.
You can promote Dealshaker. Try to introduce new merchants to Dealshaker. If you have a physical shop, you can put your deals on Dealshaker and sell your products by using OneCoin as a medium of exchange.
The above mentioned is the responsibility of the users to spend their coins on Dealshaker instead of cashing it out with Fiat currency. Let’s talk a little about the responsibility of the company.
One of the issues that Onecoiners are facing is the KYC approval. The KYC approval is an easy and fast process but I’m still confused why it takes too much time to approve KYC. The company announced to handover the KYC approval process to the third party but we are not seeing any progress.
Hope the company will take steps to make the process of KYC approval fast and efficient. Other steps that a company must take is to create positive hype about OneCoin before its launch to open market.
It will attract more people to OneCoin and people will be purchasing OneCoin on the exchange. The company can hire the blogger for the positive review about OneCoin.
The community can also help the company to create a positive hype about OneCoin. The community can use their social media accounts to spread some positive news regarding OneCoin.
All we need is the knowledge about OneCoin vision before asking about its conversion into fiat currency. Now, let’s talk about the process of OneCoin conversion into cash after 8 October.
Will OneCoin be convertible to cash in October 2018
The Company has announced that OneCoin will appear on xcoinx exchange October 8, 2018. After OneCoin’s launch to open market, any person around the world will be able to purchase OneCoin from members who possess OneCoin and are willing to sell it on this exchange.
According to the GLG members of OneCoin, the coin will not appear on any other exchanged due to security reason. We have witnessed many crypto hacks and losses of altcoins. That’s the reason the company doesn’t want to compromise the data of users.
As I have already mentioned, If all the OneCoin users will rush to cash out their coins with fiat currency the price of OneCoin may go down.
That’s the reason the company is working to make a proper plan for stabilizing the price of OneCoin. There will be a limit on selling your coins. You will not be able to sell all of your coins at once.
The limit could be ‘how many coins you can sell on any given day or week’. The company may announce the details of limitation in October. We don’t know yet the details of those restrictions.
The Responsibility of OneCoin Holder
As we know Dr. Ruja is a visionary lady and she put the idea of OneCoin in front of the world back in 2014. She introduced the concept of KYC to the crypto world. The whole cryptocurrency is following the KYC concept.
Now, it’s the responsibility of OneCoin users to help Dr. Ruja in turning her dream in reality. OneCoin is mainly based on its user base and the user must be loyal to OneCoin after OneCoin launch to open market. Here loyal means, the user should not directly cash out the OneCoin into fiat currency. The user must use the coins on Dealshaker for purchasing different products.
Share this article with your friends and fellows to let them understand the vision of OneCoin. Remember, OneCoin is not an investment plan. The aim of the OneCoin is to be the global digital currency of the future. It’s the only user that can make the OneCoin successful.
Message from Konstantin Ignatov: