The platform’s token, the EXB has a value of $0.25 during the private presale period which will be followed by the main ICO beginning on May 1st.
Extrabit is already an established crypto mining company that has gained access to free and cheap electricity, its own mining facility and a team of professional crypto experts.
Opening barriers to mining
Mining for Bitcoin is very competitive with high rewards attached and it is hard for individual and small miners to keep up. Extrabit believes that centralized mining is a big problem facing miners, as well as the high cost associated with the hardware equipment, as well as paying for the electricity sources required.
The company’s local supplier has agreed to provide free electricity for five years and thereafter, electricity costs will remain cheaper. Crypto mining is known for its high dependency on complex hardware systems and the subsequent high use of electricity as a result. This means the company’s maintenance costs will be lower, making its platform more profitable.
Smart contracts are offered for investments to for assurance, and a 185 % return on investment will be given quarterly for investors who maintain a positive balance in their Extrabit wallets. 5% of the token supply will be reserved for the developers during the ICO period.
The Extrabit platform will mine BTC, Zcash and Monero and it plans to be listed on two of the main exchanges when the ICO period comes to an end. Also at the end of the ICO, there will be an Extrabit wallet available to download.
The EXB token is based on ERC20 token standard. If you want to take part in the private presale a minimum of $20,000 is required.