ICO Analysis: CryptoProfile ICO Review

CryptoProfile ICO Review: A complete overview and evaluation on CryptoProfile ICO, which goals to create a consolidated advertising airdrop platform.

Note: This represents the author’s private opinions and doesn’t – in any way- represent a advice of an funding or monetary recommendation. Please assume warning when investing in cryptocurrencies and accomplish that at your personal threat, as this can be very unstable and you’ll lose your cash.

Overview

CryptoProfile is a number one blockchain advertising company that’s making a consolidated airdrop platform for the ICO market. The aim of the platform is to attach Initial Coin Offering (ICO) tasks with a big community of cryptocurrency fans, with numerous providers that may considerably improve a challenge’s advertising campaigns. The core providers of the platform will embrace Education, Airdrops, Bounties and Investment alternatives.

With the airdrop platform, CryptoProfile is attempting to resolve 2 core points:

Unreliable Airdrop Mechanisms: Airdrops have been a novel mechanism within the cryptocurrency market with the principle perform of distributing free tokens from ICO tasks to the plenty for publicity and advertising functions. However, the present airdropping mechanisms are sometimes m annual and unreliable, particularly for contributors that possess a monetary incentive – corresponding to entrepreneurs, writers, companions, and referrers – that enhances the publicity and publicity of the ICO.
Shady ICO Practices: It is not any secret that the ICO market is rife with shady practices, money-grabs, scams and Ponzi schemes that prey on susceptible contributors within the cryptocurrency market. The absence of any rules makes it simple for ICO tasks with ill-intent to get away with their schemes. Alternatively, the excessive failure charges of ICOs are a results of the shortage of product viability.

(See extra: Dangers in Cryptocurrency Investing)

Application

CryptoProfile appears to streamline the airdropping course of whereas preserving a rigorous customary of enterprise acumen for the reason that success of its platform is instantly correlated with the success of the ICOs throughout the ecosystem. Here is a visible circulation of how the platform will perform:

The airdrop mechanism instituted by CryptoProfile will run as follows:

ICO Projects on-boarded by CryptoProfile might want to upfront USD100k for the advertising publicity and providers of the community. In return for that, USD 100k worth of CP tokens can be given to the ICO challenge.
The CP tokens returned to the ICO challenge can be locked up in a wise contract for six months and launched when the challenge has efficiently listed their native tokens on an alternate.
The ICO challenge might want to allocate 10% of their ICO token to CryptoProfile, which thereafter allocate 100% of that token pool and airdrop to CP token holders to be able to additional stimulate curiosity and participation from the cryptocurrency neighborhood
All CP token holders can be rewarded with airdropped tokens every time an ICO is onboarded into the CryptoProfile community.
There can be an avenue for CP token holders to speculate transparently on the ICOs which curiosity them throughout the CryptoProfile ecosystem.

Due Diligence Mechanism

Every ICO challenge will have to be screened totally to make sure that they conform to the requirements set by CryptoProfile. The due diligence mechanism is as follows:

Business Viability: The challenge should be capable to tackle a present downside with an ample goal market and possible cash-flow predictions.
Technology: The challenge should be backed by a sound technological base that works and suits the general challenge objectives.
Token Economics: A secure token financial mannequin is a pivotal issue within the success of the challenge. Key variables to look out for is the diploma of centralization, escrow mechanisms and the synergy of the tokens with stakeholders’ curiosity
Team: The staff engaged on the product should be certified with the required expertise and dynamism for the challenge’s success.
Coin Utility: The worth of any token is absolutely contingent on its utility. There should be a strong use-case and utility for the tokens throughout the ecosystem.
Regulation: Given the elevated scrutiny of the higher cryptocurrency market, the regulatory elements of any challenge will have to be analyzed throughout the context of its jurisdiction earlier than the rest.

(Read additionally: Why do folks hate Bitcoin & Cryptocurrencies? Here’s 5 Common Misunderstandings)

Unique Selling Point

Novel Economic Model: CryptoProfile is among the first platforms that target making a consolidated airdrop platform for ICO tasks. The platform naturally aligns the long-term pursuits of stakeholders, with listed ICO tasks getting the advertising publicity from the in depth community of buyers who maintain CryptoProfile’s native tokens (referred to as CP). CP holders are financially incentivized to additionally improve the advertising publicity of ICO tasks throughout the ecosystem via the consolidated airdrop mechanism.

Team

Here is CryptoProfile’s staff:

All of the staff members of CryptoProfile relies within the nation of its incorporation, which is in Singapore. There is a complete of seven core members that make up the staff, headed by Max Ng, the managing director. Max has been within the cryptocurrency house since 2012, specializing in cryptocurrency training and buying and selling on his earlier endeavors. He has additionally been credited as creating a worldwide charting methodology with an estimated accuracy of 80% on hypothesis detection. Along together with his co-founders, they’re advisors to varied ICO tasks within the early stage spherical. A notable spotlight is CryptoProfile’s Global Business Development Director, Amarpreet Singh, who’s rated as one of many high 10 Global ICO/STO Advisor and was a former financial advisor to the World Bank.

(See extra:  Types of Coins to Diversify Your Crypto Portfolio & Manage Risks)

Traction

Partnerships

Here are Cryptoprofile’s companions:

Cryptoprofile has partnered with numerous instructional entities such because the Institute of Blockchain, WebLearningResources, and IKIGuide. This is aligned with their preliminary focus of spearheading cryptocurrency consciousness and training to the cryptocurrency neighborhood. CryptoProfile are additionally energetic within the cryptocurrency occasions house, partnering the likes of BlockShow (by CoinTelegraph).

Roadmap

Here is CryptoProfile’s roadmap:

CryptoProfile has been working for the reason that third quarter of 2016, starting with instructional providers and sources for the higher cryptocurrency neighborhood. It has then grown right into a full-suite advertising company that has established itself within the Asian area. The pre-sale and precise ICO will happen within the first quarter of 2019. The first half of 2019 would see the event of their native pockets and the launch of their test-net.

(Read extra: Crypto Beginners Guide: 5 Things Crypto Newbies Should Know)

Token Economics & Utility

Token Metrics

Here’s is the breakdown of Cryptoprofile’s native tokens, CP:

CryptoProfile has already accomplished their non-public sale spherical with nice curiosity and is now trying in the direction of their pre-sale spherical, which commences firstly of 2019 for a interval of 30 days. Over 1 / 4 of the whole funds raised will go in the direction of advertising bills in a bid to create the publicity and branding of the platform.

Token Utility

CryptoProfile’s native coin is an ERC 20 token referred to as CP, which is constructed on the Ethereum blockchain. The smooth cap of CryptoProfile’s token sale can be $1.1 million whereas their arduous cap stands at $30. 4 million.

CP is a utility token with the next use circumstances:

Main Currency: CP would be the major forex in CryptoProfile ecosystem, which is required to work together with the platform’s key parts. ICO tasks which can be onboarded into the platform is required to transform their fiat into the native CP tokens to entry their advertising publicity,
Remuneration: There can be a large reward pool for stakeholders of the CryptoProfile community, corresponding to content material writers and bounty hunters. They can be rewarded in CP tokens

(See extra: Will A Crash in Bitcoin’s Price Lead to Its Demise?)

Strengths

Lucrative Market Potential: The cryptocurrency market is among the quickest rising industries globally, even at when the market skilled a bear marketplace for the remainder of 2018. Though unstable, the infancy of blockchain expertise has attracted many within the house, with market capitalizations of the final cryptocurrency market standing in extra of $150 billion.
Novel Economic Model: CryptoProfile is among the few tasks round that tries to boost the airdropping mechanism that’s distinctive to the cryptocurrency market. Ensuring that every one stakeholders within the ICO advertising course of is aligned financially and for the long-term, it provides sturdy worth to their native tokens, CP.
Due Diligence Mechanism: CryptoProfile’s platform ensures that solely credible tasks are onboard. Projects can be assessed utilizing a strict customary that consists of its potential viability, expertise metrics, staff energy, and token utility. This is a constructive level for the reason that credibility of CryptoProfile’s platform is just as sturdy because the credibility of the person ICO tasks throughout the ecosystem.

(Read extra: 5 Valuable Lessons From The Cryptocurrency Market in 2018)

Weaknesses

Lack of Technical Details: The whitepaper lacks the technical particulars on the blockchain finish of the platform.
Moderate Roadmap: The second half of 2019 appears fairly uneventful in keeping with the roadmap, which sees CryptoProfile specializing in boards within the third quarter and compliance issues within the final quarter. It appears comparatively lax relative to the schedule of different ICO tasks.

Summary

From its humble beginnings specializing in cryptocurrency consciousness and training, Cryptoprofile has grown into a longtime advertising company that has its sight on redefining the airdropping course of. Being an integral and distinctive a part of the cryptocurrency world, airdrops has typically been unreliable and restricted in its effectiveness as a advertising device. With a platform particularly targeted on delivering worth to new ICO tasks and financially incentivizing all stakeholders within the course of, the long-term imaginative and prescient of every ICO challenge is extrapolated to the higher neighborhood.

Verdict: Good Project

(Read additionally: Evolution of Cryptocurrency: The Problem With Money Today)

Beneficial Resources To Get You Started

If you are beginning your journey into the advanced world of cryptocurrencies, this is an inventory of helpful sources and guides that may get you in your approach:

Trading & Exchange

Wallets

Read additionally: Guide on Privacy Coins: Comparison of Anonymous Cryptocurrencies and Guide To Cryptocurrency Trading Basics: Do Charts & Technical Analysis Really Work?

This represents the author’s private opinions and doesn’t – in any way- represent a advice of an funding or monetary recommendation. Please assume warning when investing in cryptocurrencies and accomplish that at your personal threat, as this can be very unstable and you’ll lose your cash.

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