FAQ

Frequently Asked Questions

1.
When does the Black token sale start?

Black Insurance pre-sale ICO starts on October 1 and lasts for 30 days.
Black Insurance ICO starts on November 1 and lasts for 30 days.

2.
Where I can learn more about Black tokens (BLCK)?

The best way to learn more about the tokens is to read our whitepaper.
Visit our blog on Medium.
Be sure to check out our website as well as connect to our social media on Telegram, Facebook, RedditTwitter, LinkedIn and Bitcointalk.

3.
How many tokens will be available in token sale and how many created in total?

Total number of tokens is 575,000 000. Of these, 316,250,000 will be sold during this ICO.

4.
What is the token distribution plan?

55% tokens distributed at sale.
12% tokens kept in reserve.
26% team.
6% advisors.
1% bounty.

5.
What is the token price during the ICO pre-sale?

BLCK price is fixed to 1BLCK = 0.2 USD.

6.
Where will the ICO pre-sale take place?

You can register and  join the whitelist in tokensale.black.insure where you can also purchase BLCK tokens when the pre-sale opens on October 1, 2018.

7.
How can I take part of the ICO pre-sale, what steps are needed for that?

First you have to register, then save an ETH wallet where you will receive your BLCK tokens. When the pre-sale opens you get the unique address where to send your ETH, BTC or LTC.

8.
What I need to know about Know Your Customer (KYC) procedure?  

Due to demands made by regulators, banks and exchanges, the “Know your customer” procedure (KYC) will be mandatory for every investor — for those investing in the pre-sale phases, as well as those investing in the public crowdsale phase. If you want to proceed with a purchase when the pre-sale opens you can save some time and make the KYC right now in tokensale.black.insure .
Check out the KYC Policy here.

9.
Where I can find more detailed information about KYC procedure?

KYC procedure is very easy, you just have to show your photo ID (ID-card, passport, driving licence) in front of the camera and take a selfie. After that fancy algorithms verify your identity and your data from multiple PEP and sanction databases. This can take up to 10 minutes and when you pass the KYC verification you can proceed with a purchase. 

10.
Which payment methods are accepted during the ICO pre-sale?

BTC, LTC, ETH are the accepted cryptos.

11.
What is the expected value of BLCK?

BLCK is a utility token, not an investment asset. Therefore, we don’t make any predictions over its future price. However, below we have laid out the main factors behind the BLCK tokenomics. The interplay of these components, a well-defined utility of BLCK on the platform and its associated intrinsic value contribute to higher economic sustainability of BLCK compared to crypto tokens that lack a clear connection between their utility and intrinsic economic value.

Speculation and Investment Component. This component reflects market expectations of the future platform development and BLCK demand and the willingness of investors to hold tokens for investment and speculation purposes in response to their expectations. The speculative interest varies according to the post-ICO promotion of the token, and to the degree to which Black Insurance meets its business goals.

Governance Staking Component. This component reflects the need of different stakeholders (namely, the ones that take role in syndicate governance) to hold BLCK for staking purposes as a guarantee of their honest behavior, and for the occasional need to deposit tokens as a warrant for potential conflict resolutions. The influence of this component becomes stronger as the number of syndicates and their size and complexity increases.

Convenience and Fee Mitigation Component. This component reflects the willingness to hold BLCK instead of fiat, or other crypto tokens, for convenience and in order to avoid exchange fees by accepting market price risk.

Transaction Volume Component. The more transactions are executed, the more demand there is for the tokens used in transactions as one of the major price formation components and driving factors.

12.
What is the minimum and maximum investment?

The minimum purchase amount for all types of payments is $100. There are not limits on maximum investments.

13.
Will there be any limitations or token lock-in period for this sale?

Only Team and Advisors have vesting and sales lock-in periods, other than that, there will be no lock-in.

14.
Are there any bonuses related to ICO pre-sale?

The earlier you invest, the better bonus you earn on your investment.
First week ensures you 25% bonus.
All following weeks during ICO pre-sale ensure 20% bonus.
Referral bonuses include 5% for the receiver and 10% for sender.

15.
Can I purchase BLCK tokens from any country in the world?

From United States we accept only accredited investors.

16.
Will there be an additional issue of tokens?

There is such a possibility, but only to cover financial needs associated to expanding the Black Insurance business, and thus if it benefits all existing token holders. There is a governance process to guarantee that the existing holders won’t be affected negatively.

17.
How and when will I receive my BLCK tokens?

You receive your BLCK tokens after the ICO to your wallet that you saved in tokensale.black.insure .

18.
How do I store BLCK coins?

BLCK tokens can be stored in any ERC20 compatible wallet, such as MyEtherWallet, ImToken.

19.
Do you have a wallet?

No, you have to provide us a ETH wallet address where we send the BLCK tokens after ICO ends.

Didn’t see an answer to your question?
Send an email to [email protected] and we will get back to you as soon as possible.

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