Every 48 hours, CoronaCoins are burnt based on the deaths caused by the virus. The scarcity of the coins leads to the gain in value. The developers claim that they are planning to donate 20% of the money to Red Cross via its 2019-nCoV relief effort. Cryptocurrency developers have created a new digital coin, named CoronaCoin, that lets users bet and earn money based on the number of people who fall ill or die due to Coronavirus. CoronaCoins decrease in number as and when more people get infected. The scarcity of the tokens leads to the gain in value. According to the devs, its total supply is based on the world population – around 7,604,953,650 (over 7 billion). The website says: As the number of infected/dead from the virus increases, the number of tokens is manually burned every 48 hours. On February 28, around 85,366 tokens were burnt. Sunny Kemp, a user who identified himself as one of the developers, told Reuters: Some people speculate a large portion of the supply will be burned due to the spread of the virus, so they invest. CoronaCoin developers are planning to donate 20% of the money to Red Cross via its 2019-nCoV relief effort. In response to many people calling the coin a “tasteless idea,” Kemp referred to the World Health Organization (WHO) also issued pandemic bonds. “How’s that different?” he asked. CoronaCoin is backed by proof-of-death data maintained by the WHO. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ethereum Price Prediction: ETH/USD indicators and patterns align for a rally – Confluence Detector FX Street 3 years Every 48 hours, CoronaCoins are burnt based on the deaths caused by the virus. The scarcity of the coins leads to the gain in value. The developers claim that they are planning to donate 20% of the money to Red Cross via its 2019-nCoV relief effort. Cryptocurrency developers have created a new digital coin, named CoronaCoin, that lets users bet and earn money based on the number of people who fall ill or die due to Coronavirus. CoronaCoins decrease in number as and when more people get infected. The scarcity of the tokens leads to the gain in value. According… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.