Back in fall 2017, Bonpay had an Initial Token Sale for its internal currency — BON. Since then, BON didn’t get a lot of attention — the company was dealing with the WaveCrest collapse, reintroducing the cryptocurrency cards and finding other partners to do business with. However, BON is about to make a comeback — here’s why.
Reasons why BON’s value is about to explode
The Bonpay Card launch is coming
Bonpay as a whole has been very secretive since the fall of WaveCrest. The careful “we are working on it” didn’t particularly inspire confidence. It took until the end of March for the communications channel to reinvigorate, yet even then the information remained limited.
Well, things are about to change. The last couple of Bonpay press-releases has been much bolder and full of optimism.
The launch of the Bonpay Cards is set for summer 2018. This usually means that Bonpay will get more attention, which will magnetize the token holders. Therefore, the price of their tokens will start to rise. Besides, the tokens are necessary to use all the features of the Bonpay ecosystem.
BON is a utility token
After the launch of the Bonpay Cards, Bonpay will start introducing the new features for the token holders, currently detailed in their roadmap. Of course, things can change, but at the moment, this is what one can expect from Bonpay Premium:
– No fees on card processing. That’s a rather simple, but at the same time dominant feature. As long as one is willing to freeze a certain amount of BON Tokens on their account, they can transfer any amount of Bitcoin to their card and pay with it without fees.
– The Flash-Freeze. This technology allows instant Bitcoin transfers (as in, with only one confirmation) as long as the user holds the same amount of BON. For example, the users with 0.05 BTC worth of BON can transfer 0.05 BTC instantly to any Bitcoin user.
These features require users to hold BON as long as they keep using the system, which is sure to drive the price of the token up.
What kind of change is coming
It’s not easy to calculate how exactly will the price of BON change. However, one can make some educated predictions.
The token market is driven by supply and demand. And as of right now, the demand for the BON tokens is insignificant. Some people are using BON as a supplementary trading unit, but overall it’s just there. As Bonpay CEO Alex Blazhevych have mentioned in his AMA, most of their adopters are in it for a long game and do not trade much.
Well, things are about to change — Bonpay is going to get publicity, they will actually release a product and the tokens will finally become useful. This means, that the demand will spike and the current holders of BON will be able to sell at much higher prices.
How much higher is, however, still a question. All depends on the amount of Bonpay Card users and their desire to get into the Premium features. However, Bonpay seems pretty confident that they will issue at least 20 000 cards this summer — and that’s quite a lot of potential token holders.
Now, keep in mind, that this not a financial advice. Nobody knows, how much will the price grow and whether or not one should start buying all the BON.
However, if you want to get access to the Bonpay Premium or even merely flip the tokens after the launch — now might be a good time to spruce up your portfolio. To learn more about BON Tokens, check out the BON Tokensale page!
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