Welcome to ONFOCOIN.com
ONFO is a public ledger and cryptocurrency token that is distributed through "network mining".
No Purchase Necessary
ONFO is distributed free to the public through the web app.
You earn ONFO by creating an account and then inviting others to do the same. You will be issued a unique invite code upon joining that you can share with others. Signing up earns you tokens, and each successful invite with your referral code will add more to your account. You also get a reward when your invites bring in new people for up to three generations. So, if you invite a friend and she invites another person, you both get a reward for sharing. Invite a lot of people successfully and you may be surprised how many ONFO you can earn without spending a penny.
Spreading ONFO all over the world will be the key to our success. You will be awarded additional tokens if your referral is outside your region! Our process of referral-based rewards is proven and grows lightning fast. All you or they will need is access to the internet. No form of payment is required in any way, not even for identity verification. If you have a Facebook or LinkedIn account, an email address, and a phone number, you have everything you need to join.
There is one catch: you MUST be invited to use the app by a current member. ONFO does not provide direct referral codes. You will not be allowed to join unless you enter a unique identifier provided to you by a current user. As the network grows, the system tracks these recruitment relationships and publishes them on demand to the user. Everyone will be able to follow over time the number of unique accounts added to the system due to their invitations rendered to others. The larger the network effect of an individual, the larger their daily compensation potential will be in ONFO.
Our app is as easy to use as an email account. Sending ONFO is almost instantaneous and they can be sent worldwide with transaction fees costing less than a penny. Unlike many other cryptocurrencies, there are no complicated private keys to mess with. You are able to send funds to someone using their email or phone number, just as it should be.
We are working hard to bring you a native ONFO smartphone app. For now, we are using a web app which can also be used on all smartphones with internet access.
It is projected that there will be about 3 billion smartphone users around the world by 2020. According to The Pew Research Center, 77% of all Americans in 2018 have a smartphone device, and that’s up from 35% in 2011. The number is closer to 90% for people under the age of 50—both figures well above personal computer use. Smartphone numbers have skyrocketed across the globe since 2013 as well, with much of Asia, Europe, Australia, and South America matching or exceeding the US in percentage of users. And while other areas lag, there is still significant access in even developing countries, and smartphones are much more accessible around the world than more traditional computers.
It makes sense for a cryptocurrency to be smartphone-based because it means more people can gain access. Imagine third-world countries where smartphones are sometimes more commonly used than indoor plumbing. With access to free apps, a widely distributed cryptocurrency such as this could become extremely popular, perhaps even as popular as the larger social networks. ONFO naturally rewards the early adopters more robustly, but as the network grows, large numbers of individuals could gain significant value simply by leveraging the power of their social connections and networks.
Limited supply is a key reason Bitcoin and other cryptocurrencies are valuable. For example, Bitcoin will only ever have a maximum of 21 million units in circulation—once they are all released. Increasing money supply is a way that governments have mismanaged and oppressed individuals and economies in the past. Without some mechanism to stop inflationary practices like this, any system of money is potentially subject to abuse. Designing supply limitations in to the fundamental computer code of cryptocurrency is great for investors because it creates the presumption that trade value will continue to go up over time. And many people see cryptocurrency as an alternative to the stock market, but with fewer rules. ONFO uses this same principle to guarantee the value of your tokens.
This does not help Bitcoin and other cryptos to achieve mass adoption, however. While Bitcoin has performed very well as an investment since 2009, it has seen a lot of volatility, or rapid change in value over short periods of time. This is largely because there are relatively few people in the world that use it. The larger the network, the more stable the token. Most investors tend to hoard their crypto, which decreases the degree to which people actually use it in commerce as an alternative to traditional money. It also intimidates many potential investors and makes them feel like they missed the boat. And merchants don’t like the unpredictability of cryptocurrency values. It makes profitability on sales and correct pricing less certain, so many won’t accept it directly.
ONFO solves this problem by regulating the value of one coin to be small. This is accomplished by "Coin-Splits". Think stock splits but for cryptocurrency. Your share of the network always stays the same. For example, if you have 10 tokens, and a 2:1 coin split occurs, you will immediately have 20 tokens. Everyone that owns tokens will automatically have twice as many which will keep the value per coin where it needs to stay. As time goes on, the number of outstanding ONFO tokens will always be proportional to the size of the network, causing a stabilizing effect to the value of the currency. So, if you happen to hold 1% of all ONFO tokens in supply and an inflation event is triggered, you will receive enough additional units to maintain your percentage—kind of like a dividend. This way, anyone who uses the system can think of their ONFO holdings much like their bank account, except that your ONFO holdings will increase as more people use it—another way to benefit from inviting lots of other users.
Rather than promoting the rising speculative value of each ONFO, we supply more units as market demand requires. Tracking the value and keeping ONFO low in value helps people to think of it more as money than an investment, and this will promote frequent use in commerce and demand for acceptance by businesses. And for merchants, stable pricing and predictable profit becomes much easier, so they’re more likely to accept it for goods and services.
This mechanism is hard-coded and cannot be abused by anyone unless the ONFO community universally agrees on such a change. It is projected that the mechanism of coin splits will always keep the value of your token stable.
The ONFO platform will mature over time and adding features such as interconnectivity with other payment platforms. At first, it will be completely free of such things by design. There will be no initial mechanism for purchasing these tokens with regular money. This will eventually be facilitated by third party crypto exchanges. The only way to get these tokens at first is by contributing to the building of network size. Your tokens will dramatically increase in value as the network grows. Getting into ONFO early could make you very wealthy eventually if you hold onto your coins. ONFO will eventually be accepted by major merchants and retailers as well, just like bitcoin, but even more rapid adoption since ONFO is much faster and will be used by far more people. Eventually ONFO will become a currency that can be used anywhere in the world seamlessly. No cryptocurrency to date has the potential to be so widely used. This is how bitcoin should have been built to begin with!
ONFO will have all the normal attributes of a decentralized asset and will be tradable even outside the app environment. It will be traded on crypto exchanges throughout the world and will be operated by consensus. Just like bitcoin, ONFO cannot be counterfeited and cannot be owned by any one organization. Like bitcoin, there are a finite amount of ONFO available. Once they are all network-mined, there will never be any more awarded. We have seen bitcoin's value go up dramatically because it is a finite resource that can never increase in quantity. ONFO works just the same way!
To date, there are numerous exchanges that trade bitcoin for national currencies. You will be able to do this as well with ONFO as the network grows. Those that mined bitcoin early on were so excited when the coins started to be traded for regular money. You will be able to do the same with ONFO in time. However, in the meantime, we would certainly not recommend buying a couple pizzas with 10,000 ONFO like some poor soul did back in 2010 with 10,000 bitcoin!
Sell them back to us!
Our organization is looking for users that would be interested in selling tokens back to the founding organization. Please contact us if you would like to sell your tokens to us. The truth is, we all have to earn them just the same way you do and realize how valuable they will be. We want as many of them as you are willing to part with!