CRYPTASSIST – The Easy Way to Dive Into the Crypto World
Overview
Nowadays our world is constantly changing. Whether for good or bad, we should keep track of those changes and try to adapt ourselves to the new environment and technologies. This is not an easy task, especially when you want to take part in a whole new sphere, but you are not sure in your knowledge in depth of the given topic. Such is the case with many people and cryptocurrencies. These people might have a desire to invest or just to be part of the whole crypto community, but they just do not know how to do that, or even think that is something nearly impossible and hard to grasp. Here comes the project called “Cryptassist”.
This is a truly innovative platform that has the potential to become one of the best places for all people, experienced in the crypto world or not, to trade, share, communicate, exchange and even donate money. The platform aims to combine all kinds of features, in order to present to the user a place, in which he/she might find everything he/she might need. I will try to briefly comment on some of the most significant features, shown in the website and in the whitepaper. The first such feature is a revolutionary Debit Card, that will be used in ATMs worldwide without problems, using almost 50 cryptocurrencies. Below, you can see a model of that card:
The second absolutely innovative feature for the crypto world is something that I believe will be a huge success if initiated some day in the future. It is called “CryptoGO” and its model is based on analogy with the so popular game PokemonGo. The idea here is the same – people going to specific places to search crypto currencies, the only difference is that in this case, the rewards are expected to be tangible. It seems like a dream, I know. Of course, in order to fund such proceedings it is mentioned that people probably would have to watch some ads or projects of other companies before they are told the hiding of the cryprocurrency, but that seems a small price to pay, in the general picture. That feature is good for business on the other hand, so it is a win-win situation. Premium Airdrops are also going to happen sometimes, which means that top currencies like Bitcoin, Ethereum and Litecoin will be dropped.
Another feature that is planned for the platform is called “Cryptstarter”. As in “Kickstarter” users will be allowed to place their ideas for projects, and receive funds eventually. Projects will be ensured with timetables, something like potential roadmaps, so future inverstors can be sure where there money is going. That feature may motivate many people with creative ideas to try to achieve their dreams, which is truly great.
Another feature that cannot go unmentioned is the Licensed Crypto Exchange that is planned. The exchange will provide a real-time trading of digital assets and live blockchain integrations.
Feature number four, is probably the most vital, from a humanitarian point of view, because it deals with the process of donating money. Simply put, Cryptassist aim to create a platform in which donating money will be transperant and donors will be able to track their contributions. According to them, this is the main problem at current stage, so in this way they think that by using blockchain technology, they can secure the whole process and help both non-profit organizations, foundations and donors. This is a very honorable act on behalf of Cryptassist, but their contribution to society’s well-being doesn’t stop here. Cryptassist claim that 2% of the total funds raised during the ICO will be donated to international ocean conservation and reforestation non-profit organizations. No matter what are the intentions behind that at, whether to truly help or to attract more people to invest, I do not mind either. The sheer fact that they try to contribute to a positive change in the world is enough for me to appreciate their efforts.
A feature that I found intriguing was the Webshop. There, people would be able to buy products, using one from nearly 50 cryptocurrencies. It sounds insane. This is something that is still not common, so such an idea is definitely innovative. It will make more people find purpose to buy cryptocurrencies.
The last feature I want to share, albeit there are a couple of others, which I will leave for your reading if you are interested after all those I have already mentioned, is the Arbitrage Alerts System. This system will make an individual account of every potential buyer and alert him/her in the exact right moment, when he/she is able to make profit. This system will take into account many factors, such as different exchanges and countries, in which prices vary, so one can buy crypto in one price one exchange, and in the same time the price might be different in another. The alerts will not be free. Users will pay for them in CTA. Each alert will always cost $0.01 USD, no matter the price of CTA.
All these features seem extremely good on paper, I hope that some they they’d have the opportunity to function in real life.
Main characteristics
The roadmap’s span is 2 years. This is good, because it does not present to people imaginative 10-year plans, but just 6-7 stages, that are achievable. The stage which is currently undergoing is the ICO. Probably the biggest milestone for 2018 is to be the launch of the Mobile application. Mobile app is an advantage, for sure, which will attract many people to try the platform.
The team staying behind this project is huge, compared to other projects I have encountered. Nearly 20 people, from managers through developers, to analysts are listed in the Whitepaper. Apart from that, there are also almost 10 advisors. This is a very promising feature of the whole project, because it shows how many people actually believe in the whole idea, and are ready to work for its development. As in every company, there is of course one person that stands on the top, and should be an exceptional one, as he is the leader. In this case this is the person from the picture below - Henri Oostebring, CEO of CryptAssist. He is said to be highly experienced in the crypto sphere, ever since it exists. He looks as a reliable person, who has a vision and ambition. Considering the team he is a leader of, chances are success will come, eventually.
The Whitepaper is 58 pages long. It is not a short one, but considering the multiple features of the platform, that are briefly outlined, it is a genuinely informative one. It contains both graphics and text. There is a good balance of both, keeping the reader engaged. Some not so understandable terms are explained explicitly, in simple language, which corresponds with the idea of the platform, which is, again, to be suitable for all kinds of users. So, if one wants to know details about the platform, the Whitepaper is definitely worth reading.
The first thing that stroke me when I opened the website was its vividness. A very colorful website, which is always a good way to catch people’s attention. All features of the platform are briefly mentioned in the website, showing people the general ideas of the whole project. All in all, the website is informative and tries to give people the most information in less space.
As in every other sphere in life, nowadays social media is inevitable part of people’s lives, and it plays a huge role in the development of companies. In our case with Cryptassist, I might start with viewing their Facebook profile. There, they have almost 6000 followers, and very high rating. People comment and share their posts. In Twitter, things are much better. The platform has 11000 followers, which is huge, considering that the project is still in ICO stage. A basic Google search leads to different articles and forums. As I can see, people are interested in the project.
The tokens, used in the platform are called CTA. TheHard Cap is $236.25 M USD and the Soft Cap is $36.98 M USD. A very innovative idea, connected with the CTA is that when people pay for services, using CTA in the platform, this money will in a way “burn” from the whole amount, and that will create deflation, which can potentially increase the value of CTA.
Comparison
When talking about crypto exchange, we cannot go without mentioning probably the most popular app for exchange of cryptocurrency – Coinbase. I will not compare the social media knowledge of both platforms, because as you might presume by yourselves, Coinbase is hugely popular, working since 2012, with 5 M downloads from the App store. We cannot measure that, but what I can do is try to compare the already working app of Coinbase, with the project of Cryptassist and particularly the part connected with the exchange of currencies.
The first thing I notice, which is a bonus for the Cryptassist platform is that their exchange will offer a 50% discount when trading fees are paid with CTA coins. This is a good way to encourage people to invest in crypto, by selling their own currency, but that is a benefit for both parties, because people pay less, and the platform develops so everybody wins. I haven’t heard of a policy in Coinbase, that reduces trading fees. In fact, the fees there are quite high, and transactions can take up to a week. Cryptassist aim to add various cryptocurrencies, and even give the opportunity to people to vote, which currency to add, while, as you might know, in Coinbase in the current moment there are 3 currencies – Bitcoin, Ethereum and Litecoin, and since recently they have added BitcoinCash.
So in this aspect, Coinbase is dealing only with the 3 most popular currencies, which does not give people the opportunity to invest in the new currencies. In that way when people are able to buy in crypto from there, these currencies are already very popular so their price is very high, and all possible profit is almost lost. I think that in order to have a beneficial for people exchange platform, it should be focused on new currencies, so people can invest in them as long as they are cheap. Yet, there is nothing wrong to own your bit of the 3 main ones, after all, no one knows what is going to happen with their prices in the future.
Cryptassist strives to be the leading multi-exchange platform and to be the one app, that gives people the chance to trade with up to 50 exchanges. It is a very bold vision. Another huge difference is the aforementioned Credit Card, in which holders would be able to store and trade money. In Coinbase one is not secure to keep his/her money in the app, the only secure way is to buy a separate wallet.
What I noticed is that some of the features, namely the Cryptassist Community Forum, Cryptopedia and News Updates are very close to the idea of the Bitcointalk website. There, people discuss everything related to Bitcoin and Altcoins. The idea of the platform to create another places, in which the buyers can inform themselves is fantastic. In that way, they’d have all the information needed in one place. Probably, the fact that Bitcointalk is a developed site already, may lead people to believe it is more reliable. Yet, if everything goes as planned, the similar platforms created by Cryptassist can be very successful, indeed.
A similar project I have found is the “Taylor- Crypto Trading for Everyone” platform. This platform also wants to give people opportunity to trade with cryptocurrencies easily. Yet I find their webste very confusing. It is a mixture of information, that says nothing sufficient about their views and ways of working. They work only with ETH, which is a disadvantage, because it restricts potential buyers. What shocked me was definitely the amount of followers of the platform on Facebook – 172 000! Yet, not many people like or share their posts, which leads to some suspicions. I am not sure whether this is normal, I will leave that deduction to you. What I found as a similarity between the 2 projects was the fact that in Taylor, one also gets notifications by a trading automation tool, that monitors hundreds of markets in real time and signals you when the most attractive investment opportunities occurs. As I have mentioned before, Cryptoassist plans to have that function too.
Summary
I am immensely fascinated by this project. Having so many great ideas in one place shows me that many people have sacrificed their time to create something beautiful and effective, which is all I look for in a project. What I particularly liked, while I read the Whitepaper was how every feature consisted of a plan to engage the people in every stage of its development. By that I mean, for example the Crypstarter and Community Forum, where people will be welcomed to participate in discussions and leave comments. Every feature tries to implement different ways for interaction amongst people, supporting and helping each other. That’s the best thing I find in this project, probably because that’s not a usual feature in today’s society. Another thing I like is the professionally looking team. All these people, together, seem capable of great achievements. What I find a little disturbing is the fact that the project is too good to believe. All these features are great, but I am quite doubtful whether all these can be working one at the same time, in one platform. I hope it all works out eventually.
Disclosure: This article is participating in the ICO Bounty Media Campaign for reward. Please be advised that everything written in the article is my personal opinion and it is NOT investment advice.
Cryptassist Whitepaper: https://www.cryptassist.io/assets/downloads/whitepaper.pdf
Cryptassist Website: https://www.cryptassist.io/
Username at Bitcointalk: RoonyBlack
Profile at Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1702358