1. Can I sign up early for the bonus program in the pre-ICO?
2. How does the bonus program work exactly?
When the ICO officially starts on 1 April 2018 people signing up will receive 1 MEDCASH token for every $.50 USD transferred. The conversion works out to 2,000 MEDCASH tokens for every $1,000 USD transferred.
However, if you sign up during a bonus week (see more info here: you receive some additional percentage. For example, during WEEK 1 of the ICO the bonus is 15%. That means, for every $1,000 USD you receive 2,300 MEDCASH.
Similarly, if you sign up during the second week of the ICO you will receive a 10% bonus. That means, for every $1,000 USD you receive 2,200 MEDCASH. And so on and so forth. The full bonus program is described here:
3. When will the MEDCASH token start trading on an exchange?
MEDCASH will start trading the minute the ICO is completed. We will advise token holders by email and we will also update that information on the Medcash page.
4. Why is the ICO set up for such a long time (8 weeks)?
The ICO will close on the earlier to occur of: (1) Reaching the hard cap; or (2) 31 May 2018. We would ask that you help us close out the ICO sooner rather than later (so we can start trading sooner) by pushing it out to all your connections.
5. Why do I get my coins over 6 months and not all at once?
Our ICO was structured by individuals with deep investment banking experience, and is designed for long term success, not short term benefits. There is a "dribble out" provision we have to abide by (see clause 3.4 in the terms and conditions here https://goo.gl/hyD2L4). Basically you get it over 6 months in equal tranches. At the risk of saying the obvious that applies to everyone and is for everyone's protection. The goal is to ensure the MEDCASH price is not affected by crazy dumping. We have seen many ICOs where they don’t have the dribble out provision and the price drops below the ICO price. No good. In any event, the real systemic price support comes when we start putting medical device companies on the Medxchange platform (see our White Paper). Remember it’s a "marketplace" and not just for information. And all buying and selling on the Medxchange platform requires MEDCASH. So when that day comes is when things should get really interesting! In the meanwhile though, we need to have a system to create a solid foundation for the MEDCASH coin. We don't see many (if any) ICOs with this level of foresight in their design. The fact is, if you see an ICO without the dribble out, run as far away as possible! You don't know who is in there with how many tokens, and they could wipe out the price in a flash. The MEDCASH ICO is designed with YOU in mind.
1. To receive my MEDCASH, does my wallet have to be ERC20 compatible?
Yes. If you are unsure, try MYETHERWALLET.COM -- please see question 3
2. How do I view my MEDCASH in my wallet?
Your wallet has to be able to add a custom token. Many wallets don't (esp. big ones like Coinbase etc). If you are unsure, try MYETHERWALLET.COM -- please see question 3
3. How do I set up a wallet on MYETHERWALLET.COM?
Step1. Go to MYETHERWALLET.COM. Please make sure you are on the correct site. Many scam sites out there. The landing page should look like this:
Step 2. Enter a strong password and please remember it. After that, you should see a screen that looks like this:
Step 3. Now, download the "Keystore File" (blue button) and save it in a safe place that only you can access (you can change the file name but keep it as a text file, NOT WORD! And don't change any of the contents). After saving that file, click the "I understand" button (red) and you should see a screen that looks like this:
Step 4. You will see your Private Key (redacted in this example). Click the "Print Paper Wallet" (blue button) save it in a safe place that only you can access (as a PDF file or an image file). Because this will contain your private key please save it in a safe place where only you can access it. You NEVER give your private key to anyone, like EVER. Your address (the shorter hash of the two) you can provide to anyone and that's where you will send and receive funds or crypto. TIP: If this paper wallet you printed is a jpeg or PDF file you should be able to just double click on it to grab your keys (control + C). Cest voila! Your wallet is set up!
4. Great. I have a wallet, how do I send ETH in exchange for my MEDCASH subscription?
Step 1. Click on "Send Ether & Tokens" on your MYETHERWALLET created in Question 3 above.
Step 2. Unlock your wallet by choosing "Keystore / JSON File" (note: you can also unlock your wallet with your private key but that is not safe unless you have MetaMask). Click the "Select Wallet File" button and browse to where you saved your Keystore File in Question 3, Step 3 above. Once unlocked, you should see a screen like this:
Step 3. For "To Address" type in
and your ETH amount
You can leave gas limit as suggested by the website if you want - this will affect transaction speed and transaction cost. Note: Miners' potential fee is gas limit x gas price
5. I signed up for MEDCASH. How do I see my MEDCASH tokens?
Step 1. Log on to your wallet (for MYETHERWALLET use the "View my Wallet" button (top nav)
Step 2. Scroll down to the middle -- on the right there is an option to "Add Custom Token" as follows:
Step 3. For "Token Contract Address" type
For "Token Symbol" type in MEDCASH (all caps, no spaces)
For "Decimals" type in 0 (zero)
Cest voila! You should see your MEDCASH there (assuming we have sent them already)
1. Where is Medxchange Limited incorporated?
2. Is MEDCASH considered a security?
No. MEDCASH is considered a “Virtual Commodity” as defined in the Securities and Futures Ordinance (SFO), as promulgated by the Hong Kong Securities and Futures Commission, and subject to the securities laws of Hong Kong.
3. What is KYC and AML and what does it have to do with me?
KYC is “Know Your Customer” and AML is “Anti-Money Laundering.” We follow the guidelines of the Hong Kong Monetary Authority and the Hong Kong Securities and Futures Commission as they relate to KYC and AML. That means for one thing, we require an address for MEDCASH token holders, but under the new rules proposed by the Hong Kong Monetary Authority on 11 October 2017 we are not required to verify the address. See the 11 October 2017 Guideline on Anti-Money Laundering and Counter-Terrorist Financing – Address Verification Requirements guidance by here: (Please note: these rules are for financial institutions (FIs) etc but we mirror these rules to remain fully compliant).