Other than my introduction post, this is going to be my first real article on Steemit!
This one is about a cryptocurrency that has great potential and we're still in the earliest stages of the project.
The only time I found such a great project as early and undervalued as this one, was when I found Siacoin and it went up 71x from the point where I bought.
I consider this the "Steemit of traders".
So let's get into it, shall we?
When I research coins, I check for a number of things and this coin meets many of my demands.
-No crazy ICO's etc
Although the developers are anonymous (for now, they might expose themselves further down the road) they have proven to be skillful and able to deal with problems in a short period of time.
They also stick to their ETA and know their product.
There is 1 challenge to overcome for the product, but more about that later.
The community is great.
The community is quite large for a coin with such a small market cap and there are quite some well known traders/investors in there.
The community is very helpful and supportive, many of them mine the altcoin as well.
There is no product yet, as it is currently being built, the first version will be launched late Q3/Early Q4.
Given the fact that the developers honor their ETA's, I expect it to be launched late September.
Thus far we have seen previews which are promising.
The product has a real use, it has potential and it is incredibly well timed.
This is something that will fit perfectly into the cryptocurrency market.
The logo is simple and professional.
The texts on the website are clear and give you the full picture.
They haven't put money in marketing yet, which is in our advantage.
I believe that we are currently buying into an extremely undervalued project.
Just a week ago, a project that aims to build exactly the same had a 14 million dollar ICO filled up in a matter of minutes.
That project got more than 50% of its funds hacked, but it is obvious that people are very interested in such a project, even at a way higher price.
No crazy ICO (initial coin offering) valuations:
Due to a few successful ICO's in the past, (and those coins instantly being purchased for 4x the value whenever the coins would hit any exchange) the ICO values have gone crazy.
A lot of inexperienced investors, virtual money and a good story and you have yourself a deadly cocktail.
I don't think any startup ever needs any more money than $10m as their initial funding and even that number is only for those that require a lot of money for licensing and legality.
I steer away from all overvalued ICO's.
I will write a detailed article about what I look for in an ICO and what the signs are to not invest, very soon.
Having said all that..
5 Best Cryptocurrencies to Invest in 2020
It's time to expose the altcoin it is all about.
The name of the altcoin is Equitrader.
It's currently trading at a value of 1.5 million dollars.
The altcoin is only purchasable at Cryptopia and Coinexchange, plans of adding it to bittrex will be worked on as they move closer to the first final product.
Here you can sign up for Cryptopia: https://www.cryptopia.co.nz/Register?referrer=MarcDeKoning
Recently Coindash.io raised $13.800.000,- in a matter of minutes, for exactly the same idea.
Equitrader had an ICO for just $800.000,-and they have never marketed themselves thus far.
They are nearing completion of a first platform.
They are aiming to build the following (This part I copied from their bitcointalk-topic)
"EquiTrader rewards traders for sharing their insight on successful altcoin, bitcoin, and financial market analysis and trades, and provides a social community for traders and investors of cryptocurrency, stock, futures, and forex markets.
EquiTrader is a robust tool and platform for traders and investors to discuss their ideas, where traders get rewarded for their forecasts.
With interactive financial and cryptocurrency charts for analysis, EquiTrader provides a complete suite of advanced tools and technical indicators suitable for both beginners and advanced traders.
The EquiTrader platform provides traders with:
· Trading charts
· Trade alerts
· Trading indicators
· Technical analysis tools
· Social features
· 24/Hr Support
EQT tokens are used to reward traders for sharing their technical analysis of financial markets and trading forecasts."
Right now cryptocurrency trading is extremely popular.
This platform allows people to follow successful traders for a fee.
(The platform takes a part of the fee to pay for their costs)
This means that the analysts/successful traders get rewarded for their work.
Because this platform is where they will get rewarded for their work, they will come to Equitrader and their followers will go where ever the traders move to.
Currently a lot of traders are trying to help others to be profitable as well, often hoping to get a donation in return.
With this platform you achieve a few things:
-Traders get paid for what they do
-Inexperienced traders don't have to give their money to the traders to get the same results
-EquiTrader's swarm intelligence helps to accurately forecast the most profitable trades.
Etoro has been using this system for years with regular stocks and it is a very successful product.
The cryptocurrency market has no such product and this platform will most likely be first to finish and be able to get a major part of the community to use it.
There is 1 challenge that needs to be solved soon.
It is a small issue with mining the crypto currency which often occurs when someone is trying to abuse it (I am not able to accurately explain the issue as I don't know anything about the specifics of mining)
For that reason they are considering changing to another blockchain before the initial launch of the platform.
They've promised it will be uneventful and all tokens you buy beforehand will be safe/yours.
Launch of EquiTrader token, complete with block explorer.
Encourage development of pools for Proof-of-Work (PoW).
To launch commercial banners and execute digital marketing plan for our project on web sources of financial markets and cryptocurrency trading community with a budget of $8,000 to attract first movers.
Leveraging the experience of crypto-enthusiasts to implement all-side beta testing of EquiTrader platform and advance its functions.
Get listed on at least one exchange.
Get listed on coinmarketcap.com.
^All completed, on time.
Public release of EquiTrader platform < Might even show up a little bit sooner
Improvements to the incentive system
Beta testing for EquiTrader Android/iOS App and Mobile Wallet
Backend work and proof-of-concept for EquiTrader social trading platform for enabling shadow trading
Public release of EquiTrader Android and iOS App and Mobile Wallet
Frontend and UI development for EquiTrader social trading platform
Beta testing for EquiTrader social trading platform
Public release of EquiTrader social trading platform
This product has been proven to be profitable in other industries and I am sure it will work here as well.
We get to buy in before any marketing is done and the $800.000,- that was raised will cover all of the costs for the next 2 years in terms of development and marketing.
There are tons of networks that work with a cryptocurrency to reward users of the platform, a great example would be Steemit.
Cryptocurrency trading is a real hype right now so the timing of the product is simply amazing.
Comparing it to other cryptocurrencies makes it very obvious that $1.500.000,- is a very, very low estimation, which simply is the case because they had a very moderate ICO.
My personal prediction would be a valuation of $80.000.000,- by early 2019.
Although I really believe in the project, the rule of "Don't put all your eggs in the same basket" applies here as well.
Don't invest money you can't afford to lose and don't bet it all on 1 cryptocurrency.
Thank you so much for reading in full if you made it this far.
If you think the article was a bit long or could be improved, make sure to comment down below!
If you want me to write about something else, please let me know as well!
I will write about a lot of cryptocurrency/blockchain related topics soon, make sure to follow me if you think those are interesting!
I might also dig into other topics like extreme sports, entrepreneurship and fitness, but for now my focus is on cryptocurrencies.