Spotcoin, an over the counter clearing house for cryptocurrencies, has announced its pre-token sale for May 1st. Contributors will be rewarded with a 20 percent discount on purchases of above 2,500 SPOT, which is worth USD $1,000.

The pre-token sale has no lock up period and will be capped at USD $1 million with tokens priced at USD $0.40. The pre-sale will stay open until May 7th and Spotcoin claims it expects to fully sell out during the pre-sale. The maximum individual contribution is USD $25,000. Larger contributions can be made during Spotcoin’s private sale, where tokens are priced at USD $0.33.

Spotcoin explained that the decision to offer a pre-token sale was because the threshold of a private sale was “too high” for its contributors, and that Spotcoin intends on a “strong, sustainable scaling period backed by an outstanding and wide-ranging community”.

To participate in the pre-token sale, contributors can sign up here and head to the Spotcoin dashboard. Registrations should be made after 6pm (GMT +4:00) on May 1st. Spotcoin will make the first announcement of its upcoming public sale date and provide updates on its pre-token sale results though its Telegram group.

More information on Spotcoin can be found on the links below.