Pesobit: a New Cryptocurrency and Online Investment

| October 3, 2017 | 0 Comments

After a good and well-planned out start, Pesobit has released its ICO. Beginning at August 15 and ending at September 14, this ICO allows users to buy Pesobit using Bitcoin with a trusted third-party escrow.

How the Pesobit will be Distributed?

The total amount of PBT to be distributed through the ICO is 16 Million, with the total coins after POW to be 20 million, and runs a Scrypt algorithm.

The coin is unique, where it features both POW and POS- a rarity among some Scrypt cryptocurrencies.

Each day that passes brings down the ICO bounty- the first day of the ICO gives a 20% bonus, and it goes down to 15% from the second day to the first week, and 10% from there to the third week, ending the ICO bounty.

About Pesobit

Pesobit was created as a means to improve the transfer of money from one person to another, with pesobits being exchangable to Pesos and more. While mainly targeted towards Filipinos, the addition of more way to exchange the coin to other currencies makes it more practical for other users.


The coin features a low inflation amount of only 5% and offers an ICO referral and more. The wallets, conversion, and staking will only begin after the ICO, but all coins will be stored in the ICO account and will be transferrable after purchase, once the ICO ends.

Initially, Pesobit will use a stable and well known block explorer: Cryptoid. Soon, they may feature a direct exchange to Peso, a web-based wallet, and a block explorer- not often found with most coin programmers- most will only make a simple wallet and a basic block explorer, but it seems that the Pesobit team has gone out of their way to make the coin as convenient as possible.

They plan to introduce other features such as listing the coin to exchanges and creating a mobile wallet in September, with online staking, a freelancing site and remittance coming in October.

The coin is meant to be a mainly POS coin, with only 10,000 POW blocks, so it’s not expected to be such a big hit among miners, but can be lucrative to stakers and people looking for an online investment.

The main reason for this is that traditional mining isn’t worthwhile in a tropical country like the Philippines, where mining would use too many resources and would be unprofitable and occasionally complicated for new users.

POS allows new coins to be generated and allows funds to be transferred quicker. The main purposes of the coin are for freelancing, remittance, and eCommerce. While not as complicated as other cryptocurrencies, Pesobit offers a reliable system for Filipinos to transfer and earn money, with low inflation rates and convenient transfer, and is suitable for an online investment.

Category: Cryptocurrencies

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