“Hotcoins embodies the “pay it forward” concept. What makes this Facebook-based online lottery game truly one of a kind is that there is no charge to play it and all a user needs to do is send as little as $1 worth of Hotcoins to a friend in order to get 2 tickets in the draw. Hotcoins provides that unique platform wherein a person can send a gift to a friend and be in the draw for a prize at the same time,” said iCoins CEO Adriaan Brink.
iCoins Limited operates the iCoins digital cash system (www.iCoins.com)
In Hotcoins, players even have the option to ask for the money back and the person they sent the money to can return it to their friend. At the time of the draw, all Hotcoins are moved back to the players’ iCoins accounts and they have the option to redeem the money through any linked payment provider, use it to play another game, or transfer the money to another Hotcoins player. A winner will be drawn weekly.
Brink explained that the prize per draw is provided as an incentive to explore the concept of having and moving digital cash in and outside Facebook.
The iCoins chief executive also said that they promote the use of iCoins “because they’re freely transferable, legal, fast, anonymous and guaranteed at face value. We don’t impose any charges at all as long as the iCoins stay digital. Transfers are free of charge. A user also need not have a bank account or a credit card,” adding that “iCoins make it very easy for anybody to move digital cash and you can even use them in sending donations to a favorite charity or sending payments to an employee. It is a system that provides the functionality of cash in an electronic medium.”
“We are optimistic that with iCoins and integrated eWallets such as Coinjars, people will become accustomed to this more viable, cost-effective way to deal with online payments and money transfers” Brink stated.
Both Hotcoins and Coinjars are clients of, and all treasury funds are underwritten by, MintFlow Ltd. in the Isle of Man, a licensed eMoney issuer.
For more information on iCoins, visit www.iCoins.com or the Facebook Coinjars application page http://apps.facebook.com/
Meanwhile, the Hotcoins lottery game may be played at http://apps.new.facebook.com/
About CoinJars
CoinJars is an iCoins’ application on social networking website Facebook. It is a wallet application built on the iCoins platform, which includes a fully secured and licensed eMoney issuer. The application can be accessed at http://apps.facebook.com/
About iCoins
iCoins, based in Gibraltar, are developers and operators of an electronic cash system that can be integrated with 3rd party wallet servers. iCoins is a digital cash mechanism designed to allow cash transactions between disparate and unrelated Wallet systems in the digital era. iCoins are similar to bank notes. They can be acquired by a consumer on application to a suitable issuer (similar to a bank in the real world) and are always worth their face value in real money.
iCoins Limited
www.icoins.com
3 Garrison House
Library Ramp
Gibraltar
Tel. +350 20048595
Fax No. +350 20052911
-30-
FOR MEDIA OR BUSINESS ENQUIRIES, PLEASE CONTACT
Adriaan Brink
Chief Executive Officer
iCoins Limited
Adriaan@icoins.com
