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Sango Coin of Central African Republic Beings Public Sale (26 JULY)

Sango Coin, the national cryptocurrency of the Central African Republic (CAR), is now on sale according to details on the Sango project website.

The public sale began on Monday with the 200 million Sango Coins available for purchase at a price of $0.10. According to the website, the final listing price will be $0.45.

People looking to buy the token need at least $100 in the accepted cryptocurrencies. These coins are bitcoin, ether, binance, tether, usd coin, binance usd, and dai. The sale supports transfers of these tokens on both the Ethereum ERC-20 and Binance Smart Chain networks. The project already stipulated a $500 minimum for participation in this round but was forced to lower the entry requirement amid complaints from prospective buyers. Although these amounts are small, we will see how many people will participate in the sale.

Sango Coin
CAR

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Shortly after the public sale began, total public sales exceeded $1 million. The sale will last for 1 year and it is planned to generate 1 billion dollars in total. Although some people say that the market is in bad times, most of the people of the Centreal African seem to disagree with this idea.

Since the coins bought from the public sale will be locked for a year, the buyers will not be able to sell them for a year.

CAR’s President Faustin-Archange Touadéra announced Sango Coin as the country’s national crypto earlier in July. The token will be used as part of the country’s plans to tokenize its mineral resources.

National Crypto

CAR’s President Faustin-Archange Touadéra announced Sango Coin as the country’s national crypto earlier in July. The Sango Coin will be used as part of the country’s plans to tokenize its mineral resources. Sango Coin will run on a bitcoin sidechain, as previously reported by The Block. This sidechain is reportedly similar to Blockstream’s Liquid Network with a two-way peg mechanism with BTC and Sango Coin as the tokens in the peg architecture.

CAR became the first african country to recognize btc as legal tender.

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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