Bitdepositary

Bitdepositary is a Q-Ratio Market ICO Funding Community that includes payment solutions that will make ICOs more secure. One goal of Bitdepositary is to facilitate faster and simpler investment in ICO projects.

Bitdepositary will give prospective ICO projects the chance to present to a panel of project managers, made up of notable businesses and have their project checked and analyzed by experts. They will receive an in-depth overview of the feasibility of their project and receive feedback from tax consultants and lawyers, as well as feedback from the people who would conceivably use the product. They will also gain access to an e-money provider that will allow them to make transactions within the Bitdepositary app. The Bitdepositary platform will take some of the uncertainty out of ICO projects and make it less risky for new startups to get their foot in the door.

Details about the Company

The Bitdepositary platform was founded by the TGG Holding GmbH. The project is a joint effort between a number of different companies, programmers, marketers, and developers. Although much of the planning happened in 2017, the Bitdepositary business didn’t officially form until the second quarter of 2018.

The Problem

Since the first Initial Coin Offering launched in July 2013, the number of ICOs each year has grown exponentially. The sort of growth you see with ICO is rare and only happens when truly revolutionary ideas come into conception, such as during the dotcom bubble of the late nineties. One of the most consistent concerns regarding ICO is security, and security concerns have only increased as ICOs have grown in popularity. Recently Dowlat and Hodapp, two researchers who specialize in ICOs, studied security issues in initial coin offerings, and found that as many as 80% of ICOs are scams. In fact, it can be near impossible as investors to predict whether an ICO will be a success, a failure, or turn out to be a complete scam. The sheer number of ICOs doesn’t help the situation. Moreover, investors also have to worry about wallets and currency exchanges that are often neither secure nor reliable. The bottom-line is that as potentially rewarding as ICOs are, investing in them is almost always a risk.

The other problem is regulation. A lot of governments are cracking down on the crypto market and adding more and more rules and regulations. Unfortunately, the increased regulation hasn’t eliminated all of the fraudulent activity that has plagued ICOs in the past. Bitdepositary tackles the issue of security head-on.
The platform they created is the first ICO funding community backed by Salesforce and blockchain that offers users an integrated payment system that is highly secure yet also functional.

Solutions

The security features that Bitdepositary offers are some of the most impressive that we’ve seen in the ICO community. The security system relies in Salesforce. The Bitdepositary network is hosted entirely on highly secure German servers, which every token sale has to go through. As an additional security measure, payouts are made with wallets that are on user accounts. This means more transparency between investors and users.

Bitdepositary platform givers users easy access to lawyers, tax specialists, and other experts that will help them make better decisions when it comes to ICOs. This is key because scams are so prevalent in the ICO arena. Users will also have the support of a entire community of Bitdepositary users who have vested interest in helping the community thrive. One reason that scams are such a problem is that there are a lot of amateur investors who don’t have much experience with ICOs. These people tend to be more susceptible to scams. Having access to experts and consultants will take a lot of the risk of investing in startups.

We are impressed by the verification process used for project leaders. They algorithm they use is designed to give experienced users more weight than inexperienced users in the voting process so they can effectively weed out scams.
If you are like us and love the potential that ICOs offer but worry about scams, this is a great project to get involved in since t makes the ICO community better for everyone

Decision-making

Another issue we see a lot is missed opportunity.
Newcomers pass on an investment opportunity that would have paid off because they misinterpret the signs. The Bitdepositary platform helps with this as well. Because of the transparency of the platform, users can see what more experienced investors are doing. They way it works is rather innovative. Users can follow certain investors whose judgment they trust and they will be notified by email when that investors makes a new investment. This has the potential to help amateurs make much more intelligent investment decisions and limit the frequency of missed opportunities. When you are just starting out, investing can be quite daunting. I believe having this aid built in will make people who are on the fence about entering the investment game more comfortable taking the dive.

The Process

When a project is presented on Bitdepositary, the project is analyzed by a panel. They look at how useful and innovative the concept it, while also looking for red flags indicative of a scam. If the project passes the first round, it is receives a stamp of approval. If not, a rejection letter is issued. Next, the approved project is looked over by legal and tax professionals and has to pass another round of inquiry. Essentially, the goal is determine if the project is authentic and trustworthy.

The break down of the voting point system is as follows: Bitdepositary has a voting share of 10%, lawyers have a voting share of 5%. tax consultants have a share of 5%, community users can reach up to 10 points, and users can reach up to 100 point, depending on experience levels. Users can vote yes or no. A user is a fully-registered and verified user who owns or has owned a minimum of 500 BDT in the most recent 6-month period. A community user is also fully-registered and verified but they do not meet the minimum BDT requirement. The number of points is determined by a the user’s investment returns, experience level, and reputation. What I appreciate about this system is that the distribution is balanced. No one party has the bulk of the voting power. Yet, at the same time, the voting system is not so democratic that it compromises the integrity of the review process.

At the end of the voting process, money will wither be invested or refunded, depending on how it plays out. The project needs to meet the soft cap in order to move forward. A successful vote occurs when the project receives 55% or more of the overall vote. If it doesn’t reach that cap, the vote outcome is negative.

The Wallet

Like most ICO projects, Bitdepositary has its own unique wallet application.
In this case, the wallet is a lightweight multi-asset wallet with more security features than the average crypto wallet.
The wallet accommodates Litecoin, Dash, Zcash, Ethereum, and Bitcoin so it has a good amount of versatility. The Bitdepositary system can perform all the basic tasks that bank can, including money transfer in Euros and US Dollars.

The BDT

BDT is Bitdepositary’s own token currency. BDT is an ERC20 Token that users will be able to find on a variety of exchanges, including HitBTC, OKEx, Bitfinex, an on the Bitdepositary exchange. Thus, it will be really easy to attain the coins.

Bitdepositary will also have a credit card application. This will be a payment system that will help users improve profitability and reduce accounting errors.

Future Plans

Looking at the plans that Bitdepositary has for its future make the project even more exciting. They intend to create an international network of taxation and legal firms so that reviews can happen in every country, independently.
They also plan to integrate an application that will make it easier for individuals and companies to book flights and find flight insurance. They also intend to add more and more financial solutions so that users can have one comprehensive platform for all of their financial needs. This excites us because right now we have about a dozen different financial applications we use, and it is definitely not easy to juggle between them all.

Overview

Bitdepositary has a lot of different things that make it stand out. The expert review of ICOs projects makes it a lot easier to verify the trustworthiness of upcoming ICO projects. That, in addition to the legal and taxation evaluations that the platform requires, goes a long way toward combatting the high occurrence of scams in the ICO arena. Moreover, the ability to follow you favorite investors makes the platform a great tool for new investors who want to be able to make smarter investment decisions. The credit card service that the platform offers adds to its real-world utility. While other companies have tried to provide a funding community for ICOs.

Bitdepositary is the first one that has enough security functions to actually make it useful.

ICO

The ICO open-sale with 30% BDT Bonus starts on September 5th and runs through September 19th. The ICO open-sale with 20% BDT Bonus goes from the 19th until October 3rd. The ICO with 15% bonus goes from the 3rd until October 17th. The ICO with 10% bonus runs though October 31st. The ICO with 5% bonus goes through the end of the ICO, which ends on November 14th. The price of one token is 0.10 $ each. The softcap is $one million. The hardcap is $50 million.

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