Author: Nikolay Dimitrov
Date: 19th of September 2017
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 the 19th of September 2017 today. This review takes into consideration investing in Cobinhood (COB) at its current ico price of about 0.05$( With 1 ETH you get 5600 COB – 40% bonus, after every week, you the bonus decreases with 10% to the 4000 COB per ETH, where there is no bonus after the 11th of October) .
We do not endorse the ICOs we are writing reports on – we just have a big pile of ICOs 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.
How do I rate an investment in this project at the current price? (TL:DR)
Project Cobinhood is basically a new exchange. The whitepaper of the project is the cleanest I have ever seen. It is almost as if I made it for myself. Informative, to the spot, no unnecessary explanation, the exact information for its exact purpose, segmented in an appropriate manner. The project seems very professional, they have covered all of the places where people can see them, they have faq’s and interviews posted in a video or text format everywhere – https://medium.com/@Cobinhood/a-primer-on-cobinhood-the-company-the-ico-the-tech-and-the-team-567296ef1f80. The team is experienced and quite capable of delivering. If the question was how much good will this project bring to the cryptoworld my answer would be a positive 9.5 ot of 10, but since the question, that interests most people, is how much money will one make if one was to invest. Some members of the community are a bit concerned about what the tokens will be used for, thus what will be the demand except speculation value. This was answered by the team in the whitepaper and in some interviews. Also in this article further down the road.
The platform covers a lot of interesting features:
- Zero % trading fees – Yes, no fees for buying and selling. People in all forums are in disbelieve, the ask all the time, where they will get their revenue from. Explanation follows.
- Offline fund storage – 98% of all funds deposited to the exchange will be stored in an offline multisig wallet, which will have multiple levels of security positioned in different countries. The remaining 2% will serve for faster transactions.
- All assets will be insured!
- 2FA( 2 Factor Authentification ) – also withdrawing will require an e-mail confirmation.
- The first cryptocurrency exchange capable of high frequency trading – in a test situation the exchange reached more than 1,100,000 orders per second and more than 10,000 book updates per second.
- Fiat trading – The supported currencies will be USD/EUR/JPY/KRW/CNY/HKD/CAD/GBP/ AUD/NTD.
- The cryptocurrency exchange with most supported languages – Chinese/Japanese/Korean/English/Russian/ French/German/Spanish/Portuguese/Arabic
- Fast customer service – 24/7 available support and inquiry answers within a day. Well, have you ever had problems with Poloniex?
- Decentralisation of the exchange in 2018/Q2
- A very important one – ICO underwriting service – they want to ensure that the tokens have liquidity directly after the ico. But the ico’s that will be listed on the exchange will have to go through many criteria to pass like smart contract code reviews, legal situation of the ico, potential and only the best ones will be listed to ensure that customers of the exchange will not be burned.
- The ICO spark program – the team will help companies to integrate their products and services through the use of blockchain.
- From what will they make money? –
- Margin trading loans – you will be able to loan you funds and the company will receive some of the money you earn from that.
- Payed prime services for individual traders – where they will have some bonuses like higher leverage on margin trades.
- The high frequency trading option will not be free.
- A percentage of the underwritten ico will be taken from the exchange as fees.
- Future services like crypto assets trading with stocks, forex, commodity, market indexes, and futures.
The first cryptocurrency exchange where there will be no trading fees. I think that this will attract a lot of customers. Considering the amount of trades some traders doe per day, I think they will be interested. On top of that the other interesting options, like security( additionally becoming a decentralized exchange) and liquidity of professionally checked ico’s released some time before other exchanges. Definitely a good project!
There are so many other exchanges right now and there are also a lot of ico’s right now that are developing exchanges that there is no way of saying who will be in the top 10. But I think that the new exchanges are coming with better features and are more equipped to handle the rising crypto market.
This is the only thing that is making me feel uneasy. The benefit of having them will be – 50% off margin trading loan interest and ico participants can get ico tokens underwritten by the team at a significantly lower rate. Also they state that there will be additional benefits to holding the tokens. Well, they might come up with something really nice onwards, also the roadmap has a lot of good future points so this will definitely increase the speculative value of the coins prior to them. So this is why I still believe that the project will be, none the less, profitable for investors.
Upcoming bullish events
For now the events on the roadmap.
The only red flag that i found is the token utility situation. The team states that it is enough for a high price and demand but some people in the community have expressed their concerns. No major red flags.
Exchange: https://trade.cobinhood.com/trade/USDT-BTC – the current exchange interface.
- Website: does it look good/presentable. – The website looks professional, self-explanatory and easy to navigate.
- Roadmap – https://cobinhood.com/assets/whitepaper/whitepaper_en.pdf
- Whitepaper – https://cobinhood.com/assets/whitepaper/whitepaper_en.pdf
- What is their progress according to the roadmap – ico stage
- What new does this cryptocurrency bring to the world, what problem does it solve, what does it stand – two very important ones – underwriting of ico and 0% trading fees, amont others already mentioned.
- How does the cryptocurrency name sound (does it sound legit and like a good brand name) – interesting name reminding of Robin Hood (also shared by the community 😀 ) – taking from the rich and giving to the poor. You make your own view.
- How does the logo look – Simple and clean, even geometrical features.
- Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation– N/A
- 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 – The team consists of around 20 developers with previous experience in big-name companies plus the CEO, CTO and advisors are with good background in establishing new succesfull enterprises and software development.
- What is the limit on supply of coins in circulation – 1,000,000,000 COB.
- How many developers participate in the coding – around 20.
- What the project survival relies on – people using its features.
- Will this project survive a cryptocurrency bubble burst and does/will it have enough of a following that needs it every day – if they have time to establish themselves on the market I think they have the potential to be big enough to survive one.
- Competition– all exchanges.
- Is there a Bitcointalk forum Announcement thread – yes – https://bitcointalk.org/index.php?topic=2169745.80
- How many pages is it – 5
- History of the coin according to the forum and general public impression of the coin throughout– read the first 10, last 5 and several random pages – mostly people in disbelief as to how will they make money if no charge for trading and answers to this same question :D. People who are not asking questions are positive towards the project. But there is no significant hype in the community, strangely enough.
- Do they have a blog, anything interesting on it? – no blog but a faq and some articles – https://faq.cobinhood.com/
- Is there a slack channel – https://cobinhoodcommunity.slack.com/messages/C6MD8L1DX
- How many members on slack – 500+
- Impressions from the conversations on slack – same as in bitcointalk, but be weary of scammers in slack(they are in every slack).
- Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers – yes – https://twitter.com/cobinhood 500+ followers and they are very active.
- Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – yes – https://www.facebook.com/cobinhood.exchange/ also very active 10,000+ likes which is quite nice for an ico.
Popularity and perception
- What does a quick google search tell us about the project – mainly information about the website and links to their different online exposure. Did not see anything alarming.
- Are there youtube videos about the coin – quite some videos, they are positive and the comments are positive.
- Is the coin associated with illegal/criminal activity or the dark web – there is no way as they will have a feature – know you customer and they will be really law abiding.
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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