FAQ

Frequently asked questions (FAQ) or Questions and Answers (Q&A),
are listed questions and answers,
all supposed to be commonly asked in some context.

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Questions

Questions you often ask

The Lyfcoin platform is a decentralized platform offers staking solutions for all ERC-20 smart contracts.
lyfcoin is an ecosystem that runs smart contracts -applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
The Lyfcoin Platform hosts the best master-node and staking coins based on thorough analysis.
Our team of experts identifies and evaluate potential new projects before it is made available for the wider audience to help the community take advantage of these opportunities.
The platform is designed for Staking, analysis of new ERC-20 smart contracts and subsequent account management for merchants allowing individuals to make fast, secure and cost-effective transactions through a decentralized peer-to-peer network.  
The lyfcoin ecosystem will offer a sustainable staking platform to all ERC-20 tokens (even the ones that are not Pos (proof of stake)).

Lyfcoin holds its value because we have not been on any major exchanges yet, we have been on small exchanges like stocks.exchange and ethen.market so far and has been qualified to go on the Coindeal exchange since January 2019.lyfcoin is a part of a package content, sold with a staking license used for the lyfcoin portal for its primary and secondary coins. Users are allowed to buy and sell lyfcoin through its own portal/exchanges or peer to peer

The price of Lyfcoin (Dollar or any other currency) is determined by market conditions and supply and demand of the coin.
However, because Lyfcoin follows the old Business Cycle Barometer the price of lyfcoin are decided by the interim cycle and the outer cycles of the barometer.
Please refer to the full article on business cycle barometer below for more details.
Market condition, such as the number of shops and business excepting the coin as payment, the growth of the Lyfcoin Eco-system and the number of wallets storing the coin.
You can easily check the Lyfcoin price once you log in to your user interface.

Staking/Airdrops refers to the percentage paid to any user for holding on to the coins for a certain period. This can be a daily percentage or a monthly. In certain cases, it can also be a one-off percentage paid during the initial stages of the launch.
These techniques are used to create demand and supply surge in the market.

A staking license is an authorised license (right to stake including the proof of stake) provided to all the customers/affiliates and networkers within the lyfcoin platform to obtain monthly/daily/weekly staking’s towards its staked coins. This applies to both the primary and the secondary coins.

Each license is valid for a minimum of 5 months to a maximum of 24 months.

NO. Price always depends on the supply and demand. As the Lyfcoin administrators, we are not able to guarantee any profits or that the value of the coin will increase. We have no guarantee that our retail eco-system will affect the value of the coin.

Lyfcoin (LYF) is a fast open-source cryptocurrency built on the Ethereum blockchain ECR20. Lyfcoin has 120.000.000 pre-mined coins.

We expect the Lyfcoin will be useable in thousands of shops around the world, and also on internet platforms. There will over time, be cooperatives with other online stores and platforms.
You will see the shops and online stores that currently accept Lyfcoin on our merchant platform soon.
Additionally, we have built a holiday platform where users will be able to use up to 40% towards booking their holidays
We have also created a set of tools which help the merchants to accept Lyfcoin.

Yes, it is similar to other coins. Only with one big difference, we have not only created a coin, but also create an ecosystem for workability and usability of the coin. We are a security token and are paving our way in becoming a regulated one.

There is a 3% transaction fee, whilst buying or selling lyfcoin as gift codes.

Just log into your account and the chat advisor will pop up into your web browser. Or you can send an email to support@lyfcoin.club.

A staking license is an authorised license (right to stake including the proof of stake) provided to all the customers/affiliates and networkers within the lyfcoin platform to obtain monthly/daily/weekly staking’s towards its staked coins. This applies to both the primary and the secondary coins.

How does lyfcoin maintain its price? or How is the price of each lyfcoin decided?
Actively trading cryptocurrencies like Bitcoin, Ethereum and many others get the lion’s share of attention these days. It is, after all, a high-risk-high-reward endeavour filled with the drama of rising value spikes and depressing price plummets.
All of the above is not under any one's control, Lyfcoin today is an opportunity where we haven't been on any big exchanges or have a daily market cap yet, where the price can be decided.
Lyfcoin, however, uses the Business barometer cycle in which the price will depend on the following 4 factors:
Proof of Sale ( all licenses booked)
Proof of Stake( all coins are staked)
Proof of Distribution ( all coins staked get monthly distribution)
& Finally, Proof of Withdrawal ( all coins get withdrawn to the exchange and all transactions take place through the same exchange)
At the completion of each factor, which fills the barometer, the price is automatically increased by a certain % which is controlled by the blockchain, hence very transparent.
Let us see a small Video to explain this process.

I hope this answers the question regarding the price increase!
how long will that take?
Well, it is in the hands of all the members, who are a part of this amazing ecosystem.