Earn during crashes with crypto on the Corona Fund Index Cryptocurrency (CFIX). HashCash Consultants’ are looking to base their cryptocurrency on the most unlikely of things possible, bearish markets.
How bears can become bulls for you?
By pegging the CFIX to an inverse-exchange traded fund (ETF), they hope to move in a news direction altogether. This crypto is specifically meant for the times when everything crashes. It is pegged against the S&P 500 market index. This means that you can earn even during bearish times like the covid-19 related crash.
HashCash Consultants’ upcoming Corona Fund Index Cryptocurrency (CFIX) will allow traders to earn profits even during a bear market. The backing of an inverse-exchange traded fund (ETF), is the USP of HashCash’s new crypto. It is inversely pegged with the S&P 500 market index allowing traders to earn profits even during a corona-crisis induced bear market.
The genius of this idea, though it may seem heartless, might appeal to the crypto community. This is especially true after seeing that bitcoin took a hit with the recent crash as well. Bitcoin was the bastion against the vagaries of the stock markets. Its genesis block even cited an article of the 2008 economic crash. It was touted as being the safe haven from the fiat based stock market that was built on an inefficient and corrupt system.
Turns out, the cryptocurrency world is not immune to the shocks of the stock market. The recent bashing shows that people are people and tend to freak out and cash out when things go sideways. However, to be fair to bitcoin and the others, it has held relatively stable and has not gone completely worthless. So it is still a store of value.
With HashCash’s CFIX, you can protect against shocks even further. As such as things go up, they will definitely go down.
Raj Chowdhury, CEO, HashCash Consultants commented,
“The inception of CFIX was motivated by HashCash’s aim to provide financial aid to nonprofits and research organizations battling the COVID-19 crisis. The ETF backing incentivizes CFIX, which benefits not only the traders but enables us to raise more funds for all who are affected by Novel Coronavirus, which is the ultimate goal of this initiative”
In case you think they are evil, HashCash has pledged 90% of its CFIX trade earnings to its Corona Relief Fund. The proceeds will be donated to various non-profits and organizations that are actively combating the global pandemic crisis.
CFIX is paired with USDT (Tether) and built on a blockchain platform leveraging the security and transparency that comes with the technology. Post-launch it will be listed under major exchanges across the world so that the traders can access it easily. The CFIX is scheduled for launch on April 2nd. Earn during crashes with crypto on HashCash’s CFIX.
HashCash is a global software company. HashCash Blockchain products enable enterprises to move assets and settle payments across borders in real-time for Remittances, Trade Finance, Payment Processing and more. HashCash runs US-based digital asset exchange, PayBito & digital asset payment processor, BillBitcoins. The company also offers crypto exchange and payment processor software solutions, ICO services and customized use cases. HashCash propels advancement in technology through Blockchain101 programs and its investment arm, Satoshi Angels. Further, HashCash offers solutions in AI, Big Data and IoT through its platforms, products & services.