MyBit Token is a platform for alternative investing in IOT devices. Their platform utilizes smart contracts which will allow for software providers and investors to interact with each other without the need for middlemen.
Developers can use the platform to crowdfund their machines, and in return for seed money, the investors will be given a percentage of the money that this AI produces for their owners. The smart contract not only allows for proof of ownership between different parties, but it can also automatically pay them their percentage of the proceeds from operations.
Their technology can be applied to a variety of different applications, particularly in the sharing economy niche. However, investors should be aware that this asset is currently going through an asset swap. Prices for coins or tokens can become artificially inflated during these times, and those looking to make a MyBit Token investment should be careful. The circulating supply of the asset will also be increased by a large margin, which may further cause a correction in price.
The offering of exchanges upon one can buy MyBit Token is unfortunately quite small. While they have a few listings, there's really only one viable option since the volume is not very evenly spread out. That means that your only option for a medium of exchange is Ethereum, and if you're used to trading in Bitcoin, then you'll need to make a swap before proceeding. Fortunately, there does seem to be enough trading volume to make an easy trade here.
This is an ERC20 token, and that means that you'll need a compatible Ethereum asset wallet in order to safely store your investment. There are plenty of great choices for this, which can include popular options like Coinomi's iPhone and Android wallets or Meta Mask, a browser-based wallet for Ethereum assets. In any case, make sure to backup your wallet or your seed phrase for safe keeping. If your host device is damaged, you'll need this to regain access to your funds.