BTC BROS
BTC BROS
Sep 13, 2017 · 6 min read

Welcome Cryptopians,

Following up on our new Word Press page on ICO’s, we’ve decided to give KEX Coin this fortnights in-depth review.

Now before anyone gets their knickers in a twist, we all know the perils that can be created by asset backed tokens/coins and grow ever weary of Ethereum based token sales.

KEX Coin actually sits on the Bitshares (BTS) Blockchain, meaning instant transfer and trade ability is being proposed. The coins themselves are backed by acquired and rented student accommodation, with the promise of the coins being used also as a payment method for rent among other things.

Many deem this as the main pitfall behind the concept, as without a payment system KEX could be easily written off in the Crypto world, as just another business trying to raise funds through means of an ICO, which is a pattern we see more and more businesses and scammers using to fleece unbeknownst Crypto holders out of their hard earned Satoshi, or Ether. Looking at it from another angle though, KEX could actually be onto something here…

What Is KEX Coin?

KEX Coin (KEX) is a Cryptocurrency that sits on the Bitshares (BTS) Blockchain.

Currently, the idea behind KEX is that the value of the coin will be held in acquired and rented student property in the UK. Although, due to this, many have doubted that KEX may be a true Cryptocurrency at all. However, our researchers have spent time not only evaluating KEX, but also speaking to the team behind it and they have confirmed that KEX will also be used for other things like payment of rent, payment for services, incentives and more…

We mentioned, in our blog this week that if they are in fact used in this way then KEX will indeed create affordable accommodation for many students, as well as a good return for investors and the team behind it.

The Guys Who Are Backing It

The KEX ICO and KEX itself is a project formed by Simon Lee and Cryptoversity founder and Blockchain expert Chris Coney, who has partnered with the Kexgill Group for this project.

Founded in 1978, Kexgill is one of the largest student accommodation providers based in the UK and is the only organisation offering both Halls and Houses in nine major cities across the UK. They currently own 2,800 student beds nationwide and also 430 multi-family apartments in Germany.

They have won multiple awards for student accommodation and housing across a number of awarding bodies and continue to do so in 2017.

The Kexgill representatives working on the project are:

Dr. Michael Lee (Kexgill Founder and Chairman)

Simon Lee (Kex Coin Founder)

Richard Stott (Kexgill Group Managing Director)

Michelle Fang (Financial Analyst and Mandarin Translator)

So, Why Bitshares?

Reading their whitepaper it seems as though KEX decided to go with a Bitshares base, due to the fact that the coin will be instantly issued, with the ability to be traded instantly also.

Our researchers found that KEX were very open about this and they’re reasons why it is a better option for them than other bases. However, the fact that they’ve decided to go with something other than an Ethereum base, was slightly impressive.

There has been much question of ‘Dumping’ on the first day, as it seems likely that some will want to do so, however KEX have come up with a few ways of trying to steer clear of this happening. One is the incentive of extra growth on the hodl of KEX over a period of thirty years, during which Kexgill propose to ‘buy back’ coins, using 50% of the property portfolio purchased through the ICO each yearly quarter. This is an even further interesting concept that seems to attract most of the public's questions.

Read the whitepaper to gain further clarity on this.

ICO Details

Active Bounty: No

Total Supply: 10M

Total available for Crowdsale: 8.5M

Base: Bitshares (BTS)

ICO START: 15/9/2017

ICO END: 15/10/2017

How To Participate in the ICO

Sometimes when looking at ICO’s and how to participate, there are so many stipulations and processes, you can get tired just reading the guidelines. KEX have a very simple approach at how to get involved in their crowdsale and only stipulate payments to be made on the Bitshares Network using Open Ledger. Check out the guide below, or download the PDF.

  1. Go to https://kexcoin.com/ an click ‘Buy Kexcoin’:

2. READ and agree to the Terms and Conditions:

3. READ and agree to the Anti-Money Laundering Disclaimer:

4. You will then be taken to the Bitshares Exchange, Open Ledger:

5. If you already have an Open Ledger account, Login:

No account, click create account:

6. Make sure on the ‘Registration Type’ Screen you select ‘Account Model’:

7. Once you have logged in or created an account click on the Exchange to the top-left of the screen: (Note: You will need to deposit some BTC into your account before the next step, a guide detailing how to deposit can be found here.)

8. Click on ‘Find Market’s Just under your username toward the top-left of the screen:

9. Just under the ‘Find Markets’ button, enter ‘KEX’ into the search box. You will see ‘KEXCOIN’ appear in the list, as pictured below:

10. Click on the ‘KEXCOIN’ result and you will be taken to the KEXcoin market, where you will be able to place your order in the same way as any other Crypto-Exchange: (If you’ve never used an exchange before, please refer to the KEXcoin step-by-step guide.)

11. Once your order has been placed, you just need to sit back and wait for the ICO to begin! (Note: Remember the whitepaper stated cost for each KEXcoin is 0.0025 btc. However, higher bids may be placed. A technical break down of bid placing for KEX can be found in the KEXcoin step-by-step guide.)

Summary

So, what do we think of KEX?

Overall KEX sounds like a fantastic idea and investment opportunity, offering a solid asset backed market and benefits for students. The question of how the final payments system will develop and eventually be rolled out is the only thing on our minds. If KEX manage to put this together as they’ve said, KEX will not only become a great investment opportunity, but also a sound Cryptocurrency, placing the starting blocks for a future digital student accommodation financial eco-system.

KEX On Social Media

Facebook: https://www.facebook.com/Kexcoin/

Twitter: @kexcoinofficial

Telegram: https://t.me/joinchat/CHwvZEHIZ2FIfDHhm6UAdQ

Bitcointalk: https://bitcointalk.org/index.php?topic=2091167

Bitsharestalk: https://bitsharestalk.org/index.php/topic,24831.0.html

Thanks for reading!

See you in two weeks for another In-Depth ICO.

BTC BROS

btcbros

BTC Bros Medium. Blockchain, Cryptocurrency and ICO News, Views, Events & Updates.

BTC BROS

Written by

BTC BROS

btcbros

btcbros

BTC Bros Medium. Blockchain, Cryptocurrency and ICO News, Views, Events & Updates.

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