FAQs

Frequently Asked Questions

Q. Is there a demand for vehicle transactions using cryptocurrency?

A. The top 10% of the Worlds wealth use crypto. Sales of sports, prestige and classic cars are at an all time high and vehicles are being sold across the globe. Crypto users wantthe opportunity to pay via their digital wallets but the choice of dealers or private sellers accepting crypto is virtually zero.

Q. Why would car dealers accept the AutoCoin?

A. Our international car sales portal, autocoincars.com will offer dealers the opportunity to advertise their stock worldwide at zero cost to them. This will introduce them to new markets locally and overseas. The stipulation for this opportunity is that they adopt the AutoCoin as a payment method.

Q. What will it cost car dealers to accept the AutoCoin?

A. Cost to the dealer is zero. Live feeds will populate their current stock onto the portal and remove if sold. There is no imput required from the dealer.

Q.  What is the Auto Coin?

A.  Auto Coin is the digital currency. It has various uses like all other crypto currencies; the main is to buy and sell vehicles.

Q. Who are the brains behind Auto Coin?

A.  Auto Coin is a part of the set of solutions offered by Auto Block.

Q. How does Auto Coin work?

A. Auto Coin is a crucial segment of the Auto Block platform and will change the automotive sector and its processes with the help of blockchain technology.

The network will use blockchain technologies to provide the following benefits to buyers, sellers, and insurance companies. It will enable them to:

  • Make safe and secure transactions with Auto Coin
  • Make vehicle valuations more updated and unbiased
  • Make car data consistent and available across the globe

A few of the advanced features of Auto Block include:

  • A top-notch platform to processes transactions
  • A car sales portal to be used by individuals/dealers to attract cryptocurrency users
  • A dedicated digital wallet where you can store your Auto Coins
  • A mobile app to make functions more accessible and convenient

Q. Are Auto Coins securities or utility tokens?

A. Auto Coin can be defined as security tokens.

Q. When will the Auto Coin have its mobile app ready?

A. The Auto Block mobile app is currently under development and will be completed by the 3rd quarter of 2018.

Q. What are the various ways I can use Auto Coins?

A. Auto Coin has various uses like all other crypto currencies. The main is to buy and sell vehicles. Auto coins will be traded on different exchanges.

Q. Can I trade Auto Coin on exchange?

A. Auto Coin can be exchanged on major exchanges.

Q. When Auto Coin will be available on various exchanges?

A. Soon after the Auto Coin ICO is finished it will be launched on some exchange for trade.

Q. Does your team have the experience required to complete the milestones on the roadmap?

A. Our team of professionals is from the Blockchain industry, the automotive sector, and the crypto currency market. These minds will help in making Auto Block an industry pioneer.

Q. Are any of the products or services of Auto Block already available?

A. Currently, the blockchain technology platform, digital wallets, and the vehicle valuations system, car sale portal is available, and the mobile app is under development.

Q. I am a United States resident; will I still be able to participate?

A. Unfortunately, citizens of the United States won’t be able to participate in the Auto Block sale due to local restrictions and regulations.

Q. I am resident of China; will I be able to take part in the sale?

A. No, currently the services aren’t available for China residents, and you won’t be able to take part because of regulations.

Q. Can I still participate in the Auto Block ICO if I reside in Canada & USA?

A USA & Canadian residents cannot be a part of the Auto Block’s ICO due to restrictions and regulations