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By Tom Winnifrith | Tuesday 5 December 2017
Want to lose all your money? Normally crowdfunding poltroons CrowdforAngels try to get you to invest in shite companies as we noted HERE. But why stick with the old ways of losing all your dosh. Get with it. This is 2017. CrowdforAngels has written to me..
There has been so much chatter about bitcoins, cryptocurrencies, tokens and initial coin offerings (ICOs) over the past few weeks that you would have had to be on Mars to avoid the subject.
The important news is that Crowd for Angels is launching its own tokens (coins) via an ICO. But unlike other ICOs, we are issuing our tokens for free when you invest in our Liquid Crypto Bond.
Although it has a fancy name, it is a straight bond offering 3% for a 5-year term and comes with 99 tokens for every £1 invested. The proceeds of the bond will be invested in secured bonds listed on our platform. The good news is that the Liquid Crypto Bond is eligible for inclusion in the Innovative Finance ISA (IF-ISA) so interest income can be earned tax-free*.
Tokens will only be issued as part of our Bond offering, they are limited in number and the economics are based on a reduction of token numbers. Crowd for Angels is committed to using fees equivalent to 1% of the loans successfully funded on our platform for buy-back of the tokens, which will then be taken out of circulation. In this way, we expect the tokens to rise in value. The tokens will be listed on external exchanges and can be put towards an investment on the Crowd for Angels platform.
Suffice to say that this a temptation that I can resist and I urge you to do likewise.
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