A CryptoStandard Score of 6.9 and a Stable outlook are assigned to SprinkleCoin (ICO starts on 10 Apr 2018).
In the long run, our team believes that SprinkleCoin has potential in becoming an ecosystem which enables the use of cryptocurrencies as settlement for various financial services, considering that it is developed by SprinkleBit, a social investment company that is connected with many established investors and traders. Yet, as the competition is keen in most of the fields that SprinkleBit wants to enter, our team believes that SprinkleCoin may not be able to secure a large market share in a short period of time.
SprinkleCoin is a crypto and peer-to-peer exchange platform for easier access to cryptocurrency investments, enhancing ability and confidence to use cryptocurrency in everyday transactions. Each user has a multi-digital asset wallet that provides quicker conversion between cryptocurrencies and fiat currencies. It is an existing company founded in 2011 with a focus on social investing.
The analysis is based on our rigorous CryptoStandard Score model which is supported by over 80 parameters. The distribution of the score and the explanation are shown below:
Idea
SprinkleCoin would like to establish a cryptocurrency-focused ecosystem which includes cryptocurrency exchanges, trading platforms and a multi-digital asset wallet. The inclusion of access to different financial services makes SprinkleCoin an all-in-one option to fulfill the needs of both traders and the general public.
Competitiveness
The crypto exchange market is very crowded. Most ICOs would like to be listed on top 10 exchanges. Since SprinkleBit focuses on social investing previously, it could be hard for SprinkleCoin to stand out from its competitors. Yet, SprinkleCoin could be seen as an expansion of its original social investment service into the cryptocurrency industry. From this angle, SprinkleCoin may find it easier to emerge as a bigger player.
ICO
The details of the ICO are clear and transparent. Any unsold tokens would be destroyed, and it has a plan to get listed on cryptocurrency exchanges. The vesting period and lock-up period for tokens owned by the team and advisor are reasonable. However, it is uncertain whether there will be any future offerings.
Team
The team is diverse and experienced, consisting of blockchain, business/finance and technology experts. The advisor, Antoun Toubia, has been a senior advisor to many blockchain-based projects such as Pindify. We believe that the team will be able to effectively execute their idea with the capital raised.
Community
The admins on social media platforms are quick responders to address concerns. However, the community size is small, which means there may not be sufficient market demand for the sale currently.
Marketing
SprinkleCoin has several marketing channels, including BitcoinTalk and Medium. Yet, our team believes it should devote more resources to developing other crypto channels such as Steemit and Reddit to enhance its exposure to potential investors.
Documentation
All the documents provided by SprinkleCoin are consistent and written in simple language, making it easy for a layman to understand. However, the white paper does not cover the roadmap, team and the use of proceeds, which are instead only available on the website. In addition, the documents and websites have a notable number of obvious typos.
Financials
SprinkleCoin has not provided any financials, both past and future.
Reliability
The existence of a fully functional social investing platform with 1,000,000 transmissions per day adds reliability to the project. Yet, it is uncertain whether the company will publish its codes on GitHub.
Feasibility
A key concern of the platform is the low adoption rate of cryptocurrency, making the market size still limited. The team has to capture the early market as soon as possible to set a sound foundation for future development.
See their profile: https://cryptostandard.io/ico/sprinklecoin/
#cryptostandard #crypto #cryptocurrency #ditigalcurrency #cryptonews #ico #bitcoin #btc #ethereum #eth #ripple #xrp #blockchain #review #reviewpaper #whitepaper #ratings #professional #money #binance #fintech #newcoin #coinmarketcap #initialcoinoffering #icomarketing #coinmarket #coinmarketing
Interesting
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit