The CoinFi proposal involves the setting up of the world’s very first decentralized market intelligence platform for cryptocurrency investors. It will offer crowd-sourced, professional curated research, as well as trading algorithms, market news, analysis and more.
The presale begins on January 15 and the public crowd sale is due to begin on February 8.
To work out the chances of the CoinFi ICO being a success we need to first of all take a look at what it is all about.
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Token: COFI tokens
Hard Cap: $15 million
Payment Methods: ETH
Total Cap Size: 300 million COFI tokens
Technology: Automated trading bots and data feeds
Pre-ICO Date: January 15, 2018
Public Sale Date: February 8, 2018
The democratization of Wall Street is the overall aim of this project. It will do this by bringing real-time market intelligence to online cryptocurrency traders in a number of ways.
For example, the system will receive input information such as volume, price, and news. By using these details with machine learning algorithms, the result will be useful output data that can be sent to traders in real-time through the likes of emails, push notifications, and SMS.
This will allow those traders who use this system to act quickly to changing market conditions and developing news. The COFI tokens can be used in a number of ways: to unlock premium content, to compensate content creators, and to access material that can only be given to a limited number of users.
Project Use Case
There are a few different situations in which the CoinFi proposal could be of great help to traders. For instance, it can allow for easy identification of abnormal market conditions such as rapidly rising prices or an intensification of social media activity.
It can also be used to help investors to discover relevant information in real-time and to read the latest news. Therefore, the aim is to give traders everything that they need to invest wisely, as detailed in the White Paper.
COINFI Team Overview
The CoinFi team is made up of a number of members. Timothy Tam is a co-founder who comes to the project with a long history in market trading. Another co-founder is Han Chang, who is an early Bitcoin investor and developer, he also founded a bitcoin exchange in China. The final co-founder is media startup expert Nate Tsang. Between the three of them, there is a combination of industry knowledge, technical expertise, and marketing experience. The three pillars of a good ICO.
Glen Thomson is the director of operations, while Dominic Wells is the director of content. David Danzeiser is the PPC marketing manager and Nav Aulakh is the community manager.
The CoinFi project also has a broad mixture in its advisory board members. Among them are Deven Soni, Erika Evasdottir, Alexander Svanevik, Nate Ginsburg, and Zachary Pardes.
The team appears to have a good blend of experience from all of the different industries that need to be combined in order to make this project work.
What's also important about the team is they have a lot of leadership experience, a lot of marketing experience, and many of them have worked in startups before. While they may not have all worked for big name companies, all of them have achieved a lot of success with scaling companies from zero. Plus, several of them HAVE worked for big name companies too. It's a win-win situation in terms of experience.
How Does The Token Work
The COFI tokens can be used in a number of ways by the people who get involved in this project. As a starting point, users will have to lock and stake their coins in order to get access to the platform.
After this, people who provide useful, high-quality content will be rewarded with coins. In addition, the coins will give traders a way of getting involved in auctions for the high-value content that can only be given to a small number of users.
Of course, the way that this coin incentivizes users to create and share valuable information that helps others to make decisions on their digital currency investments. Bearing this in mind, it is easy to see why the coin is such a vital part of the project.
What Do Investors Gain
With the CoinFi ICO, the idea is that the COFI tokens grow in value as they become more useful and more heavily exchanged. This means that there is the potential for them to become good investments that become more valuable to early investors.
CoinFi are going to have a marketcap of $30million after crowdsale, which is incredibly low. Their competitors have a marketcap of $120m to $300m respectively, which means there is potential here for COFI tokens to 10x in price in a short time. Of course, nothing is known for sure, but this is why we've given maximum points for Tokenomics.
Naturally, there is the choice of buying tokens in the pre-sale, waiting for the public sale or getting hold of them once the system is fully up and running. Early investors get a discount that reduces over time, so it may be worth buying into the project early in order to secure a good price.
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Opportunities & Risks
There is no denying that the idea of investing in cryptocurrencies is something that a lot of people are now interested in. Yet, the lack of quality information and the presence of contradictory new stories can make this more difficult than it first appears to be.
Therefore, the first big opportunity is to get involved early on and invest in tokens that could be worth a lot more once they become more sought after. There is no guarantee of this happening, but it is definitely a possibility that makes it worth exploring as an investment.
The other possibility is that anyone looking to make money from other digital currencies may decide that it makes sense to use this platform to find the relevant information that they need to make informed decisions. In this case, they have the chance of gaining money from any increase in the value of COFI tokens as well as making smarter investments on other currencies.
In terms of risks, there are the usual ICO issues of possible hacking attempts or unfavorable legislation being introduced. As well as these risks, there is also the fear that a lack of interest in the ICO leads to it being less successful than expected.
ICO SIGNALS :
The current levels of interest in cryptocurrency investing means that the CoinFi ICO could prove to be extremely popular among investors who want to find out more about how to invest in this way. The team has put together an interesting proposal that could provide a sensible way of earning money as well as of making more informed investment decisions. Speaking of the team, this has been one of the most well-run ICO's we've seen in terms of marketing and communication, which is something a lot of other ICO's could learn from. If they market their platform as well as they've marketed their ICO, we see them doing very well.
As with any ICO, there is no guarantee of success but the experience of the team and the way the proposal is put together certainly gives a degree of confidence.