On June 12th, 2021 at 01.00 PM UTC ( 08.00 WIB ) In the Petani Onine Indonesia Telegram Group, AMA started with Mr. Crypto ( CEO of Bitpal, as guest speaker and Guz Fahlev from Petani Online as moderator. When campaigning, 10 lucky AMA participants when asking questions on Free Asking and Questions From Twitter will get a total prize of $100 BUSD.
The following is a summary of AMA questions and answers announced by the moderator and guest speaker:
Before we start the first session, can you tell us about your background?
Sure! I am the CEO and founder of Bitpal. We have been developing and conceptualising this project for some time now so were definitely excited to answer all of your questions! I have worked in the IT field for almost a decade now and have a bachelor of IT and Marketing and have ventured off into the blockchain field in order to develope and improve any issues the cryptocurrency community faces today! Which is why we would like to introduce to you BitPal! The smarter way to trade.
You had a great experience, we look forward to your project to continue to grow🥳🥳
AMA session Petani Online Indonesia with Bitpal is begin🥳
Thankyou and were very excited to release it to the community in the near future🥳
( Sessions 1 QnA )
1. Could you explain to us, what is Bitpal?
Bitpal is a variant of an Escrow system aimed towards the cryptocurrency based currency. What this means is that we are a third party protection and security based platform that ensures during transactions that the Sender and receiver of Funds have a fair and safe transaction, Eliminating the risk of being scammed. How we do this is by Delaying the money sent by the buyer of good or service and allowing the buyer to chose the time he is comfortable with depending on the trust they might have. For e.g I and your friend, i trust you and would like to buy a jacket from you online. I will send 1 BNB for the jacket. You will receive a message notifying you money has been sent. And will transact almost immediately. Due to the trust factor I don’t mind the money going through before i receive the jacket because i know who you are. Say for example i am purchasing a jacket from a random seller online. The case will be the same except the time delay. Instead of money transacting immediately. It will transact in a week. Which means you have plenty of time to receive your jacket with delivery and still have (for e.g) 24 hours left on the clock till the funds transact. If the jacket does not arrive or the product isn’t as mentioned. You reserve the right to freeze the payment. As a result Bitpal will intercede and investigate into whether the customer has actually been scammed. Or whether the seller is the rightful owner of funds. On the other hand if the buyer is happy with his purchase. The funds will continue to go through. As a result our system protects both the seller and buyer.
2. What tokens does bitpal have? How many supplies are available? where can we buy it?
Our Finance team has been working hard to bring the most reasonable allocations of funds for the project. As a result we have only allocated a small and limited amount to the Bitpal Token Private sale. Here is a quick run down of allocation.
9% Private sale
36% Public sale
15% Team and founders
10% Board advisors
Looking at these allocations you will realise 15% Will go to the team and members here at BitPal in order to maintain processes and development. 20% will be locked in liquidity to assure the community of our legitimacy. The opportunity that the community has to purchase Bitpal is quite large. There is 36% Available on the public market and 9% locked into the private sale so spaces are quite limited in this matter. This is to ensure exclusive access onto our whitelist. These numbers are also low in order to prevent a drop in price at public sale. The private sale that will be held will previously require a whitelist application through filling in the forms that will be provided. so be sure to join us on telegram and twitter for announcements and updates .
3. What are the features that bitpal has? What advantages does Bitpal provide to the holders?
Besides the obvious financial benefits. Bitpal’s advantage over others is the ability to protect the users transactions in a unique manner. We are the only company to provide an escrow system that allows you to choose payment delay period. And as far as we are aware. BitPal is the ONLY cryptocurrency project that protects users in our unique order. Coming to the financial benefits. The first purchasers of the private sale will have much more benefit than the latter. Tokens sale 1 will be listed at $0.003 per token whereas the Token sale 2 will be listed at $0.0051. Public sale offering will be listed at $0.03 and the price from there will only Sky rocket. In conclusion, holders will have a financial benefit from every aspect of the project. Within the BitPal platform users can buy and sell with Bitpal tokens and BNB. Holders may also purchase items using the tokens purchased.
4. Why did Bitpal create such an ecosystem? What is bitpal trying to solve to make it easier for users?
We at BitPal believe it is every developers responsibility to improve the cryptocurrency ecosystem and the risks associated with transacting crypto online. 90% of users say they dont feel safe trusting the person theyre paying online, and that is a major issue we all need to address. Trading with cryptocurrencies can be a dangerous thing, For one it’s not trackable; which means once funds are gone, they’re gone forever. What this means essentially is paying someone online can be difficult. There are all types of scams and people out there to take advantage of your well-earned money. But we at BitPal believe we have found the solution!
5. Can you tell us about the road map? and what will be realized by bitpal in the near future?
There are plenty of opportunities that may arise in the future. Whether they lie with collaborations or an alternate coin pairing. There are many opportunities for exponential growth over the next few months including developing our very own Bitpal App on IOS and Android and integrating our services within other existing projects. Throughout our roadmap we aim on perfecting and developing the BitPal platform to make it as easy to use and secure as possible. We are also hosting many Giveaways and Airdrops for all of our users and supporters within the community. Our future is aimed towards everyone using BitPal as they’re primary form of payment in order to protect and ensure the security of their transaction. And to eliminate the risks of being scammed online.
(Sessions 2 Questions From Twitter)
Q1 : @Greyhair_08
What is your expectation/goal in terms of number of merchant users when your platform goes fully live? Which Merchant region or market are you focusing on first. I guess its probably Asia
Protection when transacting crypto should be for everyone. That’s why were aiming to provide this service all over the world. Although at the start we aim to provide services to the regions that contain the most traffic such as Asia, Venezuela, Russia, UK, USA and Australia. Although shortly as the project develops our services will be widespread and much more available in order for everyone to stay protected and assured when paying and receiving funds online. As popularity and demand grows higher we at Bitpal also aim on broadening our scope to collaborate with alternate token platforms such as Etherium and so on.
Q2 : @Rosanela08
The 24/7 Bitpal customer service is always ready to solve a dispute, is there a min and max time of how much can this process take? Are users informed of the status of the dispute as it is debated?
Customer support is a factor that our project prides itself on. In order to keep up with demand and case disputes we have prepared our employee base to make sure there is always a friendly team member on standby to address the dispute or situation you may be involved in. What this means to you as a user is immediate audit of your situation so we may resolve your case as soon as possible. Thats our promise!
Our transaction platform will also be user friendly and allow you to see real-time data such as Time until funds released, Dispute updates and Funds transferred. As well as small details such as order description and requests. Making it easy for you to understand and use.
Q3 : @jihanaudiee
Trading with cryptocurrencies can be a dangerous thing, For one it is untraceable. Has the Bitpal team found a security solution to recover lost trading funds? Can you explain how the Bitpal team handled it
That is correct. Unlike standard fiat currency transactions; cryptocurrency Funds are untraceable which is why we at Bitpal have developed a smart contract which withholds the funds for an allocated period of time (Determined by the sender of payment).
This allocated time of funds withheld must directly reflect the amount of time until goods received. For example. Johnny would like a website developed for his upcoming business, he hires a developer and they both insist of payment through Bitpal.
The developer has completed the task and is paid the funds with a delay period of Half an hour. He must send and deliver the website as promised within this period of time. After it is delivered the purchaser reviews the website and makes sure all is ok. There is still 15 minutes remaining until funds go through. If he is happy with the website he will allow funds to pass through. If he is not happy with the website or he has been scammed; He may amend the payment by clicking the AMEND button. This will freeze the time and BitPal HQ will be notified and investigate both parties to review who is in the wrong, And to determine whether the funds should continue through or be refunded to the rightful owner. Both parties have completed a safe and secure transaction. Eliminating the possibility of fault in delivery of goods or payment.
Q4 : @mylhe
BitPal private sale is coming soon so can you tell us more details about it? How to be eligible for this private sale? How will your platform prevent from big whale to take advantage with BitPal private sale? What is the benefit for early adopters of your private sale?
As previously mentioned, The private sale that will be held will only contain very limited spaces at the low price that is offered ($0.003) Per token. Another major factor that prevents the possibility of a dump in the overall price of our trade token is the limit that each individual is capable of purchasing. We at Bitpal are always keeling the customer in mind which is why Each individual will only be limited to $1000 AUD every individual in order to limit the possibility of a quick sell price dump. Protecting the investment that you have dedicated to our project! Another major benefit of including yourself into the presale is the lowest price that you will have the opportunity to purchase our token. From each sale event our price per token is slightly raised. Which in turn allows individuals to purchase the BitPal token at a lower price; The earlier that they involve themselves. Making major profit for investors at public sales.
Q5 : @Abmahmudd
Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
There are many meme coins and tokens out there that are willing to scam their users and rug pull at any moment to leave you out of pocket. Our assurance at Bitpal includes the following.
Our project : Generally a token that intends to rug pull or rather scam their users do not have a viable project that is worth persuing. Infact some tokens do not have a project at all. Our project has visions and goals and has a strong reason to exist. Once development has completed we believe our cause will BOOM due to the need for security within the cryptocurrency community.
Our small Pre sale supply : Generally when a scam coin enters the market. They have a very large pre sale amount, in order to collect as much money as they can before they run away with all your money! We at Bitpal believe we only require a small amount (9%) In order to sustain the start of our development. This is proof that our project revolves around sustainability of our project rather than the greed projected by many scam coins available on the market today!
Locked liquidity: Our liquidity is LP locked so you as the customer can be assured that the liquidity will remain untouched and your investment remains safe and sound!
As time passes and our presence gains strength the community will become comfortable with our project and will trust in the Bitpal cause. Security and safety!
(Sessions 3 Free Asking)
Q1 From : @nilbil99
What is the life-changing offers that your project could provide to its investors that would make them satisfy holding your token?
The element of our token that provides us with great advantage is the simplicity and uniqueness of our project. Till now there arent any systems that aim to provide protection to the user sending or receiving funds, and this is an issue that requires addressing. Cryptocurrency platforms are very premature in the community. Which is why Bitpal is the first token to take a leap into the future and provide something that no other team has before. This advantage allows us to remain sustainable for our investors as there is little to no competition in our field. This is our advantage, and this is why our project will become successful over the next few months to come!
Q2 From : @Jaseka25
How do you plan to spread awareness about your project in different countries/regions where English is not spoken well? Do you have local communities for them to let them better understand about your project?
MrCrypto :Protection online should be for everyone! Which is why we at BitPal aim towards catering for all backgrounds and walks of life, this includes implementing our Customer support all around the world once our project is established. This will make it easier for users all around the world to interact with a customer support that understands their needs. Awareness on the other hand is another situation to handle. As popularity of the project increases the awareness will spread very quickly, Not to mention the hard work our marketing team here at Bitpal are implementing in order to soread awareness of trading safe online!
Q3 From : Hsskshsh ( Unknown Username)
Can you give me the best 3 features to convince me and other investors to invest in your project in the long term????????
MrCrypto: Investors are alike our customers and we must pride ourselves in customer satisfaction to order to retain success. In order to assure trust in our project here are 3 features that will create stability within the Bitpal Token
Security : At the heart of our project, Bitpal aims on providing gold standard security in funds held by us from our users. Our unique protection platform also ensures that a cryptocurrency user is capable of buying or selling online with peace of mind
Reward system : Wouldnt it be nice if spending your money was rewarding? Well now it can be! Our purchasing platform Ensures the sender of funds is always rewarded for every $100 spent. Each and every $100 spent will result in a 50 token reward for our user!
Liquidity locked: Our liquidity is locked in order to provide assurance to investors and users that your investment is safely locked away where noone is able to access or withdraw for as long as the project exists! Which will be forever!
Q4 From : @Sangdz
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
Sustainability is key for any project in order to provide satisfaction for each and every investor and user which is why we have designed our system around rewarsing our users and providing a token burn system, as a result maintaining stability in token price. 2.5% of every transaction made will be burned forever! This ensures better sustainability for new users and allows investors in the project to gain financial profit from their investments, A form of dividend if you will.
Q5 From : @MOhameD21a
Where are come from your project name? What importance does the name have in your project development and functions?
Some say that our name has a correlation to Paypal. And although inspiration may have accounted to this, they are entirely different. You see there is quite alot seperating the two companies. For one; we are cryptocurrency based whereas PayPal is Fiat currency based transactions. Another major difference is in the way we secure our users. Due to the trackable nature of fiat currency; PayPal allows their users to access their money instantly. If that were to happen within the cryptocurrency community your money would be gone instantly! Which is why we at Bitpal have developed a smart contract which allows funds to be withheld until the customer has received his item. only then will the seller receive his funds safely and securely!