CashBag ICO Review

Almost every blockchain-based company that has cryptocurrency will hold ICO. ICO is a fundraising event aimed at gathering investors (users). Investors who purchase the CBC token will automatically become a member of the Cashbag ecosystem. The members can be buyers, merchants, or advertisers. For the record, CBC (Cashbag token) is the only payment tool that can be used in the Cashbag ecosystem. All tokens purchases will be converted to CBC.


Like most ICOs, Cashbag will also sell the token in 2 sales phases; presale and crowdsale. Investors who buy tokens in presale will get 40% purchase bonus of total token they buy. The token bonus is aimed to achieve the minimum sales target (soft cap) of 20 million CBC. Cashbag is not a new company.

The platform has been an online shop for several years and has worked with many world-renowned brands. This will make it easier for investors to determine their investment. Although cryptocurrency is a risky investment, with good company credibility, investors will surely feel more confident with the investment they make.  

Main Sale

The main crowdsale will be held starting March 12, 2018. It will be divided into several sales stages. The first phase will take place from March 12th, the second phase began on March 19, the third phase will start on March 26, and the final phase will begin on April 2 to 9 April 2018. 

The targets of the main crowdsale are 50 million CBCs. If the hard cap can be reached before April 9th, crowdsale will be terminated. However, if up to April 9 sales target cannot be fulfilled, then the remaining tokens that have not been sold will be burned. Token destruction is done to maintain exchange rate stability.

Cashbag determines different prices at each stage of the sale. At presale, the exchange rate of 1 ETH will be in the range of 8400 CBC. In the main crowdsale, the token will also have a different exchange rate. The 1st ETH value at the first Main crowdsale is 7900 CBCs with a bonus of 20% of total purchases.

In the second stage of the main crowdsale, the value of 1 ETH is 6900 CBC with a bonus of 15%. In the third stage of main crowdsale, 1 ETH = 6600 CBCs with a bonus of 10%, and in the last stage, the value of 1 ETH is 6000 CBCs. Investors who bought the CBC token in the last stage (2-9 April 2018) will not get token bonuses.

To become a Cashbag member, the investor (user) who buys the token in presale must purchase the token for at least 2000 ETH. While those who buy during the crowdsale period can buy the token with any amount (min 1 ETH). This is a marketing strategy that is rarely done by other companies.

Pre-ICO is usually done in a very flexible way. Not so with Cashbag; through its big name, it seems the company wants to make the presale a token selling medium for those with a large amount of ETH. It will indeed speed up the Cashbag to reach the soft cap. Soft cap is a sales target that will be the foundation for a company that uses cryptocracy to continue it's business or not. 


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