Incent Offers A Unique Reward System
Incent (INCNT) is a cryptocurrency that was released in late 2016 by the developers of the Bitcoin merchant directory company Bitscan, and distributed via an initial coin offering (ICO) that raised over $1 million. INCNT is an asset/token created with the WAVES platform, a popular tool that makes it easy to create tokens that use the WAVES blockchain and distribute them with an ICO.
Incent is the first decentralized and cryptographically secure loyalty rewards program. Merchants reward customers with INCNT for buying goods, and can instantly and securely transfer the coins to their customers via a mobile app. The customer can then use the coins to buy goods at any merchant who participates in the Incent loyalty rewards program, give them to someone else as a gift, sell their coins for other more popular cryptocurrencies like Bitcoin and Ethereum, or sell their coins for fiat and put the cash in the bank. There is no cost for a merchant to use the Incent loyalty rewards program, making it much more attractive than other programs which charge a signup or subscription fee.
Most other loyalty rewards programs are centralized, and points earned by customers can expire after a period of time, be frozen for various reasons, or not work at the time of redemption. Incent is decentralized and each coin earned has real monetary value; coins never expire and can’t be frozen or taken away from customers since incent is cryptographically secure. Additionally, coins earned through the Incent loyalty rewards program are expected to appreciate in value as the cryptocurrency market generally rises in the long term.
At the time, Incent began trading on the cryptocurrency exchanges in December 2016, each coin was worth 10 cents, and it steadily declined to 4 cents by March 2017. INCNT then rapidly rose to a peak of 45 cents in June 2017 before crashing to 10 cents only a month later. This market behavior is indicative of a bubble/pump and dump, a classic phenomena on cryptocurrency markets where early speculators buy large amounts of cheap coin.
This causes others to go into a frenzy and buy as the price rises, followed by the early speculators dumping their holdings and sucking most of the money out of the market. A 2nd bubble occurred in January 2018 when the price of INCNT hit an all time high of $1.11 before crashing to $0.25 only a month later. This 2nd bubble was when the entire crypto sphere went into a speculative frenzy and Bitcoin’s price hit nearly $20,000.
A Very Useful Crypto-Platform
As of this writing, INCNT is worth $0.27; with a total supply of 46 million coins, yielding a market cap of $12.5 million. This effectively makes it the 368th highest cryptocurrency market cap, which is somewhat decent considering there are thousands of different cryptos. Obviously, Incent is not among the most popular cryptos. Regardless of market cap, Incent is an important cryptocurrency to know about since it provides merchants with an easy to use, decentralized, and cryptographically secure loyalty rewards program.