Your questions answered
We have had some questions from investors so we have put together answers to some commonly asked questions. Remember, you can always email us at [email protected] if you have any questions about any aspect of the company.
How easy is it to buy Brikcoin?
It’s as easy as online banking, and probably more secure! Simply go to BRIKCOIN.net and click on ‘BUY BRIK NOW’. You can sign up for a BRIKCOIN account or log in by using either your facebook or linked in account. You can buy BRIKCOIN via credit card, wire transfer, BTC or ETH.
Crypto currencies are very volatile - is Brikcoin any different?
Yes. The crypto currencies you’re thinking about have no asset base outside of the crypto market, so they’re totally dependent on trading trends. Brikcoin has the surety of it’s property portfolio, which it owns entirely, in the most stable and highest growth property investment markets - UK affordable housing. To think of Brikcoin as a crypto currency is a bit of a misnomer. It’s more accurate to think of a Brikcoin as a share in a property development company, or stock which simply trades through secure blockchain technology.
I’ve heard about all the scams in crypto currency. How do I know I can trust Brikcoin?
Unlike most blockchain companies, Brikcoin is a UK listed limited company governed and subject to the UK’s strict corporate governance rules. Furthermore, we are the UK’s first blockchain company to be fully backed by the ownership of the properties we buy or develop; which will support the value and growth of the company. BRIKCOIN has a team of highly experienced professionals driving the company forward; each individual is well respected and known for his or her track records and information on them is highly visible in the public domain.
Have you got anything agreed with any local authority or landowner at the moment to move forward with the scheme?
Yes, we’ve just completed our first property acquisition a £1.25 million, 31 unit block of flats in Hartlepool, North East of England. We are in direct communication at the highest level with 18 of the 32 London Boroughs and have on going communications with the GLA, again at the highest level alongside Government ministers. Furthermore, we have forged strong ties with many other Local Authorities throughout the country, garnering the support of local MP’s and SCS’s. As a private developer, BRIKCOIN will be moving forward with several more schemes over the coming months.
How would I sell the coins at a later stage and what would be the process?
Unlike traditional property investment where your cash can be locked in for many years, liquidity is one of the benchmarks of our business model and that is where blockchain excels. We are working to form partnerships with several large exchanges to list BRIK. Announcements will be made on the first exchange before the end of the crowd sale. These exchanges have millions of pounds worth of volume in trading every day. They are open around the clock to investors from all around the world, so BRIK will be very liquid.
If I have gained in coin value how do I go about ensuring my investment is as a tax efficient possible?
Each country has its’ own tax rules and regulations. You might find the following helpful the UK Governments Policy Paper ‘Cryptoassets for individuals’ and a summary article from Coin Telegraph:
Do I have to declare this investment on my tax return?
Kindly see below the UK Government’s Policy Paper ‘Cryptoassets for individuals’, other governments will have their own set of guidelines:
As BRIK is not regulated under the FCA, how are you claiming that this is a scheme that would be of interest to pension fund holders who would not be allowed to enter into such agreement?
It is the pension funds themselves that interact with the conventional side of our business in buying the leases. The pension funds will simply be buying the long-term lease from BRIKCOIN, the private company. They will have no transactions involving the coin. The coins are merely a security linked to the entire revenue growth of the company BRIKCOIN; we have revenue streams outside the sale of the lease to the pension funds, like property management fees, development fees and future blockchain developments.
Is the company going to be registered in the UK and what will be the structure?
The company is already registered in the UK as BRIKCOIN Ltd. Registered Office: Kemp House 160 City Road London EC1V 2NX. The public listing is available at: https://suite.endole.co.uk/insight/company/11968282- brikcoin-ltd
If you build housing and the local authority decides not to move forward and also the key worker agencies and organisations don’t take up the offer, would you look at renting them out at open market rent as this would be more profitable and give investors a better return?
If I recommend somebody to invest will I have a referral link?
How have you decided on the value of the coin?
Initially, in the Crowd Sale, the pre-trading token price is £0.01 or 1 penny. We wanted to set our total market cap as low as possible, while having enough to cover operational costs, to create a situation where there was as much room for growth in the value of the token as possible. So we have a very lean core team and a lean marketing strategy to bring tokens to the public as affordably as possible. Raising £5 million for 50% of our coins, puts our valuation as one of the smallest companies in blockchain and definitely the smallest in our sector. Good news for early investors in BRIKCOIN.
In reality, who is your competition in this marketplace as there would appear to be several other companies doing the same thing?
We believe we are miles ahead of our competition in the real estate space for two reasons – firstly, we have a specific countercyclical niche that we target and secondly we have a new and totally unique development and financial model, thereby giving our investors far greater value. Most of the companies selling tokens for real estate have no real, transparent plan to invest that money and only promise you their supposed expertise. BRIKCOIN is already operational, showing you exactly how we will invest, build and deliver the profits. Our company is also giving more tokens for much less, which means that every investor has a bigger stake and we all have greater room to grow. Moving forward we will create more revenue streams that will all feed into the same company, including blockchain data storage for property data and much more.
How secure are the servers that hold the data?
The tokens are built on the Ethereum blockchain (ERC-20) so there is no risk of fraudulent transactions. As for your personal data for KYC during the token sale, our dashboard is built by a company that specialises in software for token sales and has handled dozens of similar fundraising platforms. We are working hard to make sure every precaution is taken to keep all your personal data safe and to only collect data that we absolutely need.
Is the platform GDPR compliant and does it also comply with the Data Protections Act 2018.
Who will own the deeds to the land and properties?
BRIKCOIN the company will hold the deeds and the assets on their books and this in turn will be reflected in the value of the token.
Can the coins be put in a trust for my Grandchildren?
Yes, there are many companies online that draw up digital wills or you can set your wallet that holds the coin to be digitally transferred to anyone you wish. Additionally, there are hardware wallets available that you can store the coins on and physically transfer to your family or friends.
BRIKCOIN and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.