Question 1

Has the price of LockTrip (LOC) increased or decreased recently?

Accepted Answer

LockTrip (LOC) has increased recently with a current price of ADA 0.06916837.

Question 2

What is LockTrip (LOC)?

Accepted Answer

LockTrip (LOC) is a blockchain-based travel marketplace that aims to disrupt the travel industry. It allows users to save on their bookings by reducing middlemen and their associated commissions. LockTrip works with strong brands in the travel industry providing a vast inventory of properties and airlines in one place. As a payment method, travelers can use either a credit card, popular cryptocurrencies, or the native LOC token to bypass payment fees.

Question 3

Who created LockTrip?

Accepted Answer

The creators of LockTrip are not specified, but the team is presumably composed of professionals from various areas of expertise such as travel, blockchain, and finance. They came together to create a digital platform that seeks to disrupt the travel industry with unique blockchain-based solutions.

Question 4

How does LockTrip work?

Accepted Answer

When a booking is made on the LockTrip.com marketplace, 3% of the booking value is used to purchase LOC tokens from exchanges and then burn them. This burn process is automated, transparent, and verifiable on the blockchain. By funneling the entire economy through the LOC token, LockTrip employees a unique business model to its platform.

Question 5

What makes LockTrip unique?

Accepted Answer

The unique aspect of LockTrip comes from its deflationary model. The supply of LOC tokens, contrary to other coins and tokens, doesn’t grow or remain constant. In fact, it decreases with each booking and subsequent burn. This process is indefinite, without any limit in time or the number of LOC to be burnt. Making it a platform with unique economic features. LockTrip is also unique in that it offers more than 2.1 million hotels and properties, along with more than 1,000 airlines to choose from. This vast network of partners allows for a strong competition resulting in lower prices for consumers.

Question 6

About LOC's Blockchain Technology

Accepted Answer

The token is powered by the Hydra chain, which emerged through the combination of the very best features of Bitcoin, Ethereum, and Qtum chains. This allows for cutting-edge technology and unique economic features to be present in the LockTrip platform.

Question 7

What is LockTrip's market position?

Accepted Answer

LockTrip (LOC) currently holds a market capitalization rank of #5080 with a total market capital of ADA 1.1M. The 24-hour trading volume has seen fluctuations, currently standing at 1.6K.

Question 8

How many LockTrip (LOC) tokens are in circulation?

Accepted Answer

The circulating supply of LockTrip (LOC) tokens is currently at 16.5M.

Question 9

Where can you buy LockTrip (LOC)?

Accepted Answer

LockTrip (LOC) can be purchased on various cryptocurrency exchanges which can be found in the provided HitBTC, EtherDelta, KuCoin list. Please note to always do your own research when purchasing cryptocurrencies.

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