It’s finally happened. A major worldwide government has just bestowed a huge vote of confidence and legitimacy onto the world of cryptocurrencies. Singapore, in an unprecedented move, just announced that they are officially adopting a certain cryptocurrency as Singapore’s official coin!
Virtual Citizenship Program(VCP) is their next step for promoting their new coin. There is not much information out yet, but according to official announcement, even small investors have ability to get V-Citizenship. Meaning that you will get official ID card and are virtual citizen of Singapore.
The government of Singapore just informed us that they have chosen a preferred firm for the purchase and marketing of their new coin – CashlessPay Group. The sales of Singapore’s coin officially started January 30 of 2019 and currently these coins can be bought only from CashlessPay Group.
In fact, Singapore’s deputy minister of finance, Lee Hsien Loong, informed us that their new official coin starting price is just S$0.0014 cents!! 1 Singapore Dollar equals 10987.97 IDR
That’s right, their coin is incredibly inexpensive in comparison to most other coins out there. Bitcoin for example trades at S$14,453.39 at the time of this writing, and Ethereum, trades at around S$1123.9.
In fact we were able to get Sir Richard Branson’s thoughts on Singapore’s new coin and this is what he had to say:
Sir Richard Branson’s states: “Anytime a major corporation announces even a small partnership with an individual cryptocurrency that coin’s value skyrockets. I can’t wait to see what happens when a government officially adopts a crypto. When the name of Singapore’s coin is released many people will become millionaires practically overnight.”
A few of us at CNBC were curious enough to buy a couple coins just to see how everything looks and what the trading fees are like.
It was fairly easy to get the coins, but I will show you the whole process below for those that are interested.
First step was to fill out all the details. As you can see, nothing complicated so far.
Second step, I was taken to a purchase page and had to fill out my details.
For S$342, I received 244,710 coins at 0.0014 cents each. You can see current value of my coins on the same page.
The whole process was simple and I even received a phone call from one of CashlessPay Group’s friendly agents, but I didn’t really need any help as the whole process was easy enough.
After finishing this article, literally around 4 hours, I checked my wallet again and to my surprise:
In only 4 hours, the price increased from 0.0014c to 0.0044c. At this point, I was positively surprised. I am not selling my coins as of yet because all the experts predict that the price will rise to at least S$1,105.57 per coin in matter of months.
CashlessPay Group was kind enough to give us a 100% accurate coin movement price counter, so everyone can see the increase directly on this page.OFFICIAL PRICE CURRENTLY1 coin = S$0.0041 CENTS1511944.67 IDR BUYS 33,331 COINS(Note – price is being updated every 30 minutes)
With a story of this nature news seems to be breaking every so often, we’ll be sure to update the story as needed.
You can find their promo video as well as direct coin sales here: