HomeBlockCoin is currently in the ICO stage and i thought it may be an interesting coin to invest in myself. By the looks of it, HomeBlockCoin is a clone of bit connect, a lending platform where you lend bitcoin and earn a daily interest rate paid out to you in bitcoin. Bitconnect coins have gone from $1 to around $270, and a number of bit connect clones have hit the market.
I thought i would take a closer look at homeblockcoin ICO and see what it’s all about before i throw a few bucks in to test the system.
Home block coin will have a max supply of 28 million coins, and run on the scrypt algorithm similar to litecoin.
There are a number of ways to earn money with this system:
- Purchase ICO tokens and resell them later
- Lend money into the lending platform and earn interest
- Hold the coins in a wallet and earn interest
- Refer people and earn a % of what they invest
- Mine the coins using a graphics card or GPU
Currently the ICO is in the second stage and you will be able to purchase coins in just under 10 hours. Some how i missed out in the first round, i think the coins sold very fast. Currently the coins are selling for $1.25, the last price was $1, it seems the price will keep increasing based upon demand.
Take a look at the ICO details here, a total of 5 million coins will be sold during the ICO in different stages, and the price will keep increasing as the initial coin offering for homeblockcoin progresses.
HomeBlockCoin will have POS (Proof of Stake) coin mining, all you need to do is hold coins in your wallet and you will mint more, check the table below and you can see the earnings in percentages per month.
HomeBlockCoin looks like it has great potential, if it can do anything like bitconnect. With many different ways to earn money, a wallet with an inbuilt miner and the lending program i think this coin will certainly rise in value over the next couple of years.
As with all of these investment programs they are very risky, and you should NEVER put in money you cant afford to lose. I will be putting in around $50 or $100 which i am more than willing to lose to test this system, along with other bitconnect clones i am testing and will post the results on this blog!
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