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Tired of Traditional Fixed Income Switch To Mining Gold

07-15-2020 11:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Wishmax Investech Limited

Wishmax Investech To Partner EGW Capital For Its Upcoming Crypto Mining Business

Wishmax Investech To Partner EGW Capital For Its Upcoming Crypto Mining Business

The traditional fixed income products around the globe are facing repayment pressures, lower interest rates and longer lock in periods. Though, this has not demotivated the investors to pump in their money in bonds, ETF's, but there is an urgent demand by investors for the new financial instruments engineered for the today's tough market.

Amid the rapid spread of Covid-19 pandemic, mostly all businesses have taken a severe hit making them face a slowdown which is worsening with each passing day. The investors have become more cautious with their capital and are looking to invest in the secured asset classes even if the return on their investment turns out be slightly lower than pre-Covid times. As of now, the primary vision of the investors is to safeguard the invested principal and grow sensibly rather than aggressively.

Wishmax Investech (WIEG) has partnered with EGW Capital for rolling out its ASIC crypto mining operations. The company has plans to setup a mega mining farm based out of Wyoming, USA, which will call for investments to the tune of US $50 million. WIEG will assure a fixed dividend income of 8.00% on its coins with a potential of an unlimited upside, when staked.

EGW Capital will hold 33.33% in the Wishmax crypto mining business. EGW Capital will also work with investment bankers to raise the target investment. An email sent to Rahul Kumar, CEO of EGW Capital went unanswered, however, the sources closer to the transaction have confirmed the development.

Wishmax will soon conduct a private placement directed towards the investors based in the markets. The company plans to raise US $5 million as an initial capital and will launch its Initial Exchange Offering (IEO) on the leading IEO launchpad along with the institutional placements.

"The crypto mining business is unrelated to any mainstream business sector and has negligible impact due to Covid-19 pandemic or any other risk which a normal economy faces. A investor can park his capital in WIEG coins, stake them and earn 8.00% annually. The dividends will be paid every 60 days," said Sunder Lal, Founder of Wishmax.

Staking means parking coins in a wallet and earning a fixed income. The coins when staked will be protected against principal loss as the invested value will always be balanced against the market value. If the price of coin moves up, the investor will earn both fixed income and price upside.

"Our focus is to serve a different investment class who wish to grow without being exposed to rapid market swings," said Madhusudan Gupta, co-founder of Wishmax Investech.

The crypto mining business revolves around verifying blockchain transactions like of Bitcoin, Litecoin, Ethereum, DigiByte and Dash. Mining is the backbone of blockchain. After the mining difficultly has increased, the business has become unviable for small players and has become highly profitable for the miners who can dominate a large amount of hashing (mining) powers.

WIEG coins will be issued on DigiByte blockchain.

India Blockchain Forum
Postal Address: Times Square Unit 1, Level 2, B Wing, Maharashtra 400059
Press Contact: Atul Mishra

Wishmax Investech is focused on crypto mining and blockchain based financial lending business.

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