The buy-backs are calculated using the fees ICONOMI charges for the crypto funds. There are several types of fees. Fees of 0.5 percent are charged for the sale of a DAA. In addition, “management fees” must be paid, which are determined by the DAA manager. And 30 percent of the self-defined fees must be paid to ICONOMI.
ICONOMI uses all revenues to cover its own costs first. Anything left over is used for buy-backs. So far, over 211,685 ICONOMI tokens have been bought back and burned. Here you can find the buy-back and combustion address.
How to buy Ethereum Code
ICN can be purchased on Binance*. In just a few minutes you can create a user account there – but of course always with a secure password and two-factor authentication! The good thing about Binance* is that you don’t need verification if you want to pay out less Ethereum Code than the equivalent of two bitcoins.
Once you have created an account with two-factor authentication and strong password, you can deposit Bitcoin, Ether or any other currency offered. Binance offers the pairs BTC/ICN and ETH/ICN, i.e. you can buy ICN with Bitcoin or Ether.
If you already own Bitcoin or another currency, you can send it to Binance, exchange it for Bitcoin or Ether and then buy ICN tokens. If you do not yet have digital currencies or do not wish to exchange them, you can purchase digital currencies from these providers:
Bitcoin Exchange Language User-friendly Guide
Bitpanda* English Yes Bitpanda Manual
Coinbase* English Yes Coinbase manual
Bitcoin.de* German Medium –
Cex.io* English Yes Cex.io Manual
Afterwards you only have to pay in your desired digital currency via the menu items Medium > Deposits/Payouts and then purchase ICN with ETH or BTC.
ICONOMI Token (ICN) safe storage
The ICONOMI token is an ERC20 token, which is based on the Ethereum blockchain. This means that an ether address is used for ICN tokens.
The safest Ether Wallets:
Hardware Wallet User-friendly Open Source Currencies
Trezor* Yes Yes Bitcoin, Ether and ERC20 Token, Litecoin etc.*
Ledger Nano S* Yes No Bitcoin, Ether and ERC20 Token, Litecoin, Ripple etc.
Ledger Blue* Yes No Bitcoin, Ether and ERC20 Token, Litecoin, Ripple etc.
Conclusion of ICONOMI
A broad diversification of own investments is the golden rule for investments. It’s not so easy with crypto currencies, there are thousands of digital currencies and all projects sound kind of interesting. Moreover, currency technology needs to be understood and this is not always easy for newcomers. It is therefore difficult to find a promising project that is not fraudulent and where the framework conditions are right. This is made easier by specialized asset managers. They invest in promising projects for the individual investor and follow developments.
This takes some of the investor’s work off his hands and at the same time gives him a broadly diversified portfolio that reflects the individual fluctuations of the respective digital currencies.
The idea behind it is good and the funds also facilitate the entry into crypto currencies. The risk is shared and the investor diversifies his investments, as with funds on the stock exchange.
Disadvantage of the platform is that the users have to trust that it is secure against attacks and access – as with a normal crypto exchange. ICONOMI stores the private keys, which is why the user must rely on security.
In addition, your own token leaves an aftertaste, at least as long as there are no further possibilities of use, e.g. on the platform.
In conclusion, the idea behind Iconomi is a good one. Risk-averse investors can diversify without a lot of work. And as soon as deposits per Euro and Dollar are possible on the platform, Iconomi will unfold its full potential.