Author: Radoy Kozumov
Date: 26th of April 2018
Do not make investment decisions based on this article – read the disclaimer before you proceed and leave the website if you disagree with it.
It is 26th of April 2018 today. This review takes into consideration investing in ElemBeEasy (ETKN) – ICO at a price of 50 ETKN per BTC.
We do not endorse the ICO’s we are writing reports on – we just have a big pile of ICO’s that people have mentioned to us could be worth taking a look at and we are going through them one by one. All shared personal statements are a personal point of view.
BeEasy is intended as a blockchain ecosystem that offers user-friendly crypto mining, crypto trading, and crypto investment management. The goal of the project is to make things easier for people that want to mine/trade or deal with cryptocurrencies in any way possible. It promises to deliver all the must-have cryptocurrency services in a single package. The software will have several different modules, each with its own function, and an easy to navigate and use interface. Let’s take a more in-depth look below. For further information about the project and the team, please visit their website, where you can also find the Whitepaper and all the relevant details.
How do I rate an investment in this project at the current price?
BeEasy aims to establish an all-in-one ecosystem containing cryptocurrency processing services such as mining, exchange, donating to charity, gaining partner goods and services, and conversion to fiat currency. They want to create a service that lets a beginner enter the crypto-field easily and that is also a good tool for professionals as well. In their Whitepaper, the team argues that the current interface for mining for example is too complicated and points out that some mining software clients still use only string lines. With their client, they offer an easy to use and navigate interface, to be used by professionals and beginners alike. Their mission is simply to get more people involved in the crypto-world and to offer an easy way in, so to say. You can use their client to monitor your wallet, exchange currency, mine currency (the team is offering to rent their users their own authentic mining equipment) donate to charity foundations and much more. They’re offerring several modules with their client:
EasyPool – a multicurrency pool for mining and mining management. It shows current wallet balance (deposited from mining from a pool), cryptocurrency pools, mining management systems and mining process controls, among others. There’s a web interface and a client software, as well as iOS and Android apps.
EasyPlay – module displaying a grid of bonuses from the project partner-vendors, where you can spend cryptocurrency from your balance. You can also see the mining timeline for reaching a specific bonus conditions, review bonuses and monitor progress.
EasyCare – A guide to the partner charity foundations of the project. You can choose a charity foundation and set up a donation. After that you can track the transaction. You can pick a charity of your choosing and set up regular donations consisting of a specific percentage of your balance.
EasyTrade – a module that shows your exchange account balance, transaction history, statistics and rates. It allows for quick exchanges.
EasyFund – shows the amount you’ve invested and your current earning power in BTC/ETH/$. The module allows investing and withdrawing funds.
EasyData – this module contains information on rented mining hash power and amount of received cryptocurrency. It allows for modifications of the rented power, a profitabillity calculator and mining process monitoring.
Let’s look at the example from their Whitepaper for the sake of clarity:
A potential user downloads and installs the software. Upon installation, the user is prompted to complete a registration process and to run an integrated system diagnostics. Then the user chooses a partner offer. The project offers bonuses from their partners, that users can acquire by using the client for mining. During the process, the user can monitor the mining progress bar and check the remaining time until the bonus goods or services are received. When the mining is complete, the software notifies the user and sends a promo-code.
The current MVP of the project is a live version of the pool at www.easypool.me They have their own data center in Saint Petersburg (currently at 1 MW phase, planning on 6 MW phase by the end of the year). They have also developed their own mining equipment for 12 GPUs.
The project started in 2017 and is currently at ICO stage. They plan to expand the client database for all services to the minimum of 10 million users by 2019-2020. The funds from the ICO stage will be used for developing mining equipment for their data center (20%), opening new offices (10%), licensing and permits in various countries (15%), development (30%), marketing (25%).
The project has earned several good reviews from respected sources and experts in the field. It’s a brave project that tackles a huge problem – accessibility. Their all-in-one package is a significant innovation in the cryptoworld and a great way to allow people to start trading or mining without having to go through tons of information (and losing their motivation in the process). Some modules will be available to download on the user-PC and the team is developing iOS and Iphone applications as well, which is definetely good news.
Currently (ICO stage) 1 EasyToken (ETKN) goes for 0.02BTC. The total amount of emitted tokens equals 250,000 ETKN and after the ICO stage is complete, tokens can be purchased through the EasyTrade module after its launch. This is an internal token and it can be used to cover the cost of all services delivered by BeEasy. The token applies different special terms depending on the module.
With EasyPool, for example, you get a 50% discount for the pool services (if you pay with ETKN). With EasyTrade you can claim a 50% discount for order fees and commissions. You can read further information on the token usage over at the project’s Whitepaper. Each module has specific terms regarding the token. If you plan on actively using the client, the ETKN token could prove very, very useful, since some of the discounts that come with it amount to 50%. As the project’s audience is growing, the value of a token for internal BeEasy system use will also increase.
Website: does it look good/presentable: – The website is quite pleasing to the eye and easy to navigate. The team have certainly put a good amount of effort into it. They have a quick Presentation and an in-depth explanation in their Whitepaper. The website is available in Russian and English. It also contains a few links to review from outside sources. The only problem that I encountered was that I had a hard time finding the contact links to their social media and Telegram pages. They are situated in the lower right corner of their Contacts page. That’s not a problem at all, it just took me some time to find it. But overall the website is very well-designed.
Website – https://beeasy.io/#main
Roadmap – You can find the roadmap at their website: https://beeasy.io/#roadmap
Whitepaper – Readily available at their website. The whitepaper is strictly about the functionality and goals of the project, it contains only relevant information. The Whitepaper starts off by describing the problem with accessibility that people are encountering when trying to enter the cryptocurrency world. Since BeEasy is aiming at providing a do-it-all tool that solve this problem, it’s a good idea to explain it. It has a few pages that detail the Legal Framework – this is an important piece of information that people should read before they invest in the project. It can’t be missed – it’s right at the beginning of the document. Overall the Whitepaper is clear and well-structured.
How does the cryptocurrency name sound (does it sound legit and like a good brand name) – BeEasy sounds good. Considering the aim of the project – to make things easier – it’s an appropriate name. The token is called EasyToken – ETKN.
How does the logo look – The logo is their name in white letters. It looks simple but good.
Who is behind the cryptocurrency, are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/GitHub research on them – Compared to the last few ICO reports we did, this particular team is not so easy-to-find online. Not that this is a bad thing – I’ve found nothing even remotely suspicious about these people. Most of them have active LinkedIn profiles with 500+ contacts, and the CEO – Aleksandr Bespalov is also involved in a few other companies. I’ve found no red flags and the whole list with the team members is available at the project’s website.
What is the limit on supply of coins in circulation – The project has already reached its Soft Cap. During the ICO stage (which is currently ongoing), there is no Soft Cap, and the Hard Cap is at 3 200BTC.
1ETKN = 0.02 BTC during the ICO stage.
After completed the ICO is completed, the token can be purchased through the EasyTrade exchange module as early as at the launch of the exchange.
What the project survival relies on – As always, investors at first, then most importantly – clients. It’s an incredibly innovative project, aiming at easing the access to the cryptocurrency world for people that want to start trading/mining, but are having trouble with the processes involved. The team must be smart with their money – the project has various different modules and they need to make sure that they develop, update and maintain them all equally good. They’re offering mining equipment for rent so there’s no margin for error, no room for mistakes in the technical execution.
Will this project survive a cryptocurrency bubble burst and does/will it have enough of a following that needs it every day – Their estimated active users are as follows:
2018: over 500, 000 service users
2019: over 2, 000, 000 service users
2020: over 5,000,000 service users
2021: over 10, 000, 000 service users.
If their prediction holds true, this will turn into a very healthy and active ecosystem. A potential bubble burst will definitely hurt the project, but trading will still continue and as long as the team ensures a good launch and stable beginning, provided the high interest remains, it should be okay. Of course, it’s always hard to predict these things beforehand, so as always – make decisions based on your own predictions.
Competition – Currently, I don’t see anything that can overshadow BeEasy in their exact niche of expertise. It’s a brave project and if it turns out to be successful, I dare say that it will be quite durable in the years to come if they deliver.
Is there a Bitcointalk forum Announcement thread – Yes
How many pages is it – 65 and growing by the day, interest has been rising significantly in this particular website
History of the coin according to the forum and general public impression of the coin throughout –
Interest has risen significantly in the last month and people seem to be optimistic. The project has earned several good reviews from respected experts in the field of cryptocurrency and the users in the several forums that I went through are optimistic and eager to see the project unfold.
Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers –
Yes, they do have a twitter. The numbers are not too impressive, but they’ve been actively posting in the last few months. The page has around 900 followers.
Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes –
Yes, their Facebook page is full of content and they’ve been posting daily. Alas, the numbers, once again, are nothing impressive – around 500 followers. But they seem very active and they have a high response rate.
Telegram link – I managed to find three separate Telegram channels, two Russian and one international. The Russian language channels combined have around 350 users, while the international one is just above 1000.
https://t.me/channelbeeasyico – Russian
https://t.me/beeasyico – Russian
https://t.me/beeasyicoeng – international
Is there a youtube channel – I couldn’t manage to find one but there are a lot of videos made by the comunity that are informative.
We have created two new Facebook groups where we share amongst ourselves:
Cryptocurrency news and upcoming events also ICO Information – https://www.facebook.com/groups/1964897273826859/
Global Macro Investments and Hedge Fund strategies – https://www.facebook.com/groups/trading.global.macro/
Thank you for your time spent reading this article. The internet is huge and I might have missed some information or read something that is not true. Feel free to criticize and point out any mistakes. In fact, please do criticize, this is the best growing mechanism. All good luck to all crypto-enthusiasts. Let us make some money.
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