Understanding Bitcoin and Bitcoin trading is not a buttery task. Understanding its procedure and concepts requires a tremendous amount of knowledge.
Melbourne-based cryptocurrency exchange that has so far raised $16.8 million through a continuous Initial Coin Offering, which wants to make Bitcoin trading as easy as buying a pizza.
An Initial Coin Offering or ICO is like an initial public offering, but instead of selling shares. An issuer offers digital tokens that are available for trading on cryptocurrency platforms or exchanged for services.
Nauticus is trying to build one of the world’s most functional cryptocurrency exchanges and payments platform, allowing for the easy exchange of seven fiat currencies into Bitcoin, Ethereum and up to 100 other cryptocurrencies.
As of Sunday, the company had raised $16.8 million. Not bad for just eight weeks.
Nauticus represents itself as a cheaper version of eBay’s payment platform PayPal. Moreover, it allows users and dealers to send and receive payments, but with lower fees, live market rates and the ability to settle more than a million a second.
Here is a video which shows their working principle
Apparently, the company intends to launch its exchange later this month and hopes to serve in the same path as other exchanges.
Also, the Nauticus ICO funds will be used to implement plans, hire staff, launch the Nauticus Exchange and establish a blockchain-based “mining” centre.
Furthermore, once it’s up and running, revenue generated from these facilities would support the development of subsequent business solutions, Nauticus says.