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Bitquence ICO: Why Have I Invested in a Brand New Token?

Bitquence is a new token which will be launching soon. The developers behind it have launched an ICO (Initial Coin Offering) in order to raise funds and I have decided to get involved. It’s my first ICO and I’m excited to see what happens!

I’ll talk more about Bitquence in a sec, but first a quick explanation of ICOs.

What is an ICO?

An ICO is where developers behind a new cryptocurrency project sell a number of tokens in order to raise funds. All sorts of people get involved, mostly speculative investors. No-one is guaranteed to make money from an ICO offering, but one that flies can return a small fortune!

Most ICOs raise money in Bitcoin, Ethereum or other cryptocurrency.

The largest ICO at the time of writing was for EOS, raising a massive $185m. That’s even more staggering when you consider that the Token Purchase Agreement read:

As mentioned above, the EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, expressed or implied. Although EOS Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security, or commodity or any kind of financial instrument.”

That sounds like investors were buying thin air, but it was more to avoid any issues with US regulators than anything else. After all, the ICO was advertised in Times Square, New York City!

What is Bitquence?

Bitquence (BQX) is described as, “People-powered cryptocurrency services for the blockchain“.

Their mission as stated on their website reads, “Bitquence’s Mission is to make the daunting cryptocurrency market accessible to everybody, accelerating adoption of blockchain technology and democratizing ownership of cryptocurrencies“.

It goes on to read, “We make cryptocurrencies easier to purchase and transfer allowing the average individual to participate in the New Economy. We believe in the philosophical mission established by Satoshi Nakamoto [creater of Bitcoin]. By creating a secure layer that is accessible to the average person, we put the power in the hands of the people – where it belongs.”

Bitquence say they will offer:

  • Security
  • Simplification and transparency
  • High liquidity and access
  • Get started quickly
  • Community concensus
  • Mobile universal wallet

  • Here is an introductory video:

    Forbes Magazine have even noticed the ICO. Roger Aitken wrote, “An initiative targeting mainstream consumers with a ‘user-friendly crypto wallet’ and touted powerful features to enhance accessibility, Bitquence today launched a crowdfund backed by an international group of experts. The project is driven by the idea that people are ‘irrevocably changing’ the way they interact with financial services.”

    He goes on to write, “Described as being a ‘multi-year project and vision’ by its founders, Bitquence aims to go market by the end of 2017 with the Bitquence wallet, Cold storage, Proof of Stake and portfolio diversification. Next year plans are slated to initiate the liquidity network, value transfer and fiat gateway.”

    Why am I getting involved?

    Firstly, I have not been part of an ICO before and it’s pretty exciting! But also, I have a mammoth profit locked in already from cryptocurrency investments and an ICO is an opportunity to hit a really big return. If it goes to nothing I’ll lose a small amount, but I’m fine with that.

    If Bitquence becomes the next Ethereum though… JACKPOT!

    How to take part

    It’s easy to take part in this ICO, simply click here and send some Ethereum (ETH) over to Bitquence. You’ll receive your tokens once the ICO ends.

    I have invested approximately $1,750 worth of Ethereum and I’m sitting just below halfway on the investor leaderboard. As long as I finish in the top 100 investors, I will receive:

  • Unique collectible physical Silver Bitquence Tokens numbered #002 – #100
  • You may also pick a unique number if available eg 888
  • 10,000 bonus BQX tokens
  • Free Bitquence transactions fees for 1 year after live platform launch
  • Priority pick in order of contribution for Bitquence ID

  • I’m not entirely sure the value of any of it, but 10,000 extra Bitquence would be nice if it takes off!

    This is certainly speculative, but I’m at the point at which I can afford to go for some high risk returns. Please do your own research before you think about getting involved.

    Note: If you decide to contribute and use the link below, I will receive a bonus number of tokens at no extra cost to you. If you prefer to go directly and cut me out, that’s fine 🙂

    Click here to get involved in the Bitquence ICO

    Bitquence (BQX) infographic

    Update: 26th October 2017

    I have decided to lock in a good profit, just in case the worst should happen.

    It was a bit fiddly as I had to open a Binance account, send Bitquence tokens to the exchange, convert them into Bitcoin, send the Bitcoin to Localbitcoins and sell them.

    However, I recouped my initial $1,750 investment and banked around $10,000 profit on top. In addition, I still hold 25,000 BQX which is currently valued at an additional $22,500 ($0.90 each).

    Fiddly? I’m fine with that!

    Tagged in:, ,
    Steve first invested in Bitcoin during 2015 at a price of just $230. He has since diversified into Ethereum, NEO and many other cryptocurrencies.


    1. Jason

      July 6, 2017 - 7:25 am

      Looks promising Steve, I hold Bitcoin, Ether, Antshares and Trig.

      Looks a bit awkward to send ethereum to the ICO or am I being thick?

      • Steve

        July 6, 2017 - 2:54 pm

        I clicked on the “contribute” button and it popped up with all the details. I entered the ETH address, gas, data plus ETH amount I wanted to invest and that was it done.

    2. Bruno

      July 7, 2017 - 12:08 am

      Done! I’m in with a small amount (wish I could afford more), I used your link. Thanks for sharing this article Steve.
      This is my first ICO too and I agree this looks promising.
      Question: are you following any particular crypto expert/investor for investment opportunities like this one or are you using mainly forums like reddit?

      • Steve

        July 7, 2017 - 12:16 am

        Hi Bruno, welcome aboard! It makes sense to be careful as we don’t know whether this will fly to the moon or not. Hopefully it will make us all a bunch of profits that we can reinvest and grow further.

        I look through Reddit, but many of the posts are complete rubbish – like all the stock market forums. It’s difficult to find impartial views when so many have a vested interest in the price rising. I use Google news a lot and I tend to pay attention more to articles which quote a trusted investor/expert directly or, as with this ICO, an article in Forbes magazine.

        The recent bull market has made it very easy to make profits though and long may that continue!

    3. Paul

      July 7, 2017 - 7:32 am

      Hi Steve, thanks for this. Having read a fair bit online im up for a punt! Problem is when I click through to contribute it may as well be in Japanese! Any suggestion for someone who hasn’t had any involvement in bitcoin? Cheers Paul

      • Steve

        July 7, 2017 - 3:27 pm

        Hi Paul

        You can buy Ethereum at Coinbase, then use that to invest in the ICO. You will need to transfer your Ethereum to another wallet first as Coinbase won’t allow it to be sent directly. It’s a bit fiddly, but you soon get used to it.

    4. Sebino

      July 9, 2017 - 8:01 pm

      Howdy Steve – for some reason it isn’t letting people in US contribute. How were you able to?

      • Steve

        July 9, 2017 - 8:28 pm

        I noticed that, Singapore too. I’m British so didn’t have any issues.

        • Sebino

          July 9, 2017 - 11:47 pm

          Ohhh makes sense. Ok, thanks!

    5. Jez

      August 15, 2017 - 3:25 pm

      Hi Steve, you and your website got me in to the whole crypto currency thing. I would like to say a big Thanks!
      Back in July I used your link and bought some BQX tokens in the ico. They seem to be doing really rather well so far – Are you keeping hold of all of yours or cashing in any of them?
      I also wondered if you buying in to any other ico’s.

      • Steve

        August 16, 2017 - 3:05 pm

        It was the perfect time to get involved! A few ups and downs, but very positive overall.

        I’m holding my BQX for the time being. Will wait to see what happens to the price once they hit the exchanges properly.

        I haven’t looked into any other ICOs at this point. Would like to watch BQX a bit longer first. I notice that there are a LOT of ICOs coming up and they can’t all be the ‘next big thing’ so it’s going to take some research.

    6. Jez

      October 27, 2017 - 1:12 pm

      Hi Steve, just read your update. I bought some BQX after reading your initial post about it (Thx for that!) – and through your link of course. I have kept 100% of mine and have been involved in some other ICO’s since but none have been as good as Bitquence. I joined all the telegram groups of tokens I bought and I have to say I love the Bitquence telegram group and the team behind it. When it dipped for a while I bought some more as I think it will do really well in the long term (I aim to hodl until 2019/20) but time will tell if this is the best decision. I am bit surprised you converted back to Fiat any reason for that? – I’m not sure where we stand on a tax point with cryptos…

      • Steve

        October 27, 2017 - 4:23 pm

        Hi Jez, it’s been a cracking investment!

        I still hold the majority of my BQX, but I just wanted to lock in a good profit so that I can let the rest ride for free. I bought some Substratum with some of the profit too, so we’ll see how that goes.

        Cryptocurrency in general is high risk, so I keep the percentage of my total investment portfolio down to a sensible level. Because the prices keep going up, the value soars and I have to sell something to bring it back into line.

        In terms of taxation, I don’t know whether there are any clear guidelines yet. I imagine we will treat it the same as a stock market investment, for example, and pay tax on capital gains. Get professional help with that to be sure as it’s a grey area.

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