Cryptopay is not a new comer in the fintech arena, hence forget any MVP or technical white paper filled with dream features and written by wanna-be tycoons.
Cryptopay is actually a real company offering a rich set of products. A Bitcoin wallet to buy and sell cryptocurrency and fiat already counting 450k registered users and 90k+ cards issued worldwide. One among the most appealing features is to combine a Cryptopay debit card with your Bitcoin balance. Then starting from your bitcoins you can travel worldwide and make payments in thousands of points of sale.
So why a company as Cryptopay is in the middle of an ICO? Aren’t ICOs that kind of instrument especially suited for garage ideas to get some money and start development from scratch? Well, think again. ICO are becoming a valid alternative to IPO also for more structured companies. It is the present and the future of venture financing and the smartest companies in the world are now looking seriously at this form of crowd funding.
Here the milestones: at $15m Bitcoin stock brokerage, at $35m a full Bitcoin bank account bearing your name and full IBAN coordinates, and at $55m a full stack blockchain fundraising platform and financial services marketplace in a single Cryptopay account. The platform will provide handcrafted ICO underwriting and book running, fixed income instruments and more.
As usual when I come across to a new ICO I try to figure out whether or not would be worth invest some coins. So many ICOs are in the news these days, and we are all prone to the erratic investment. Serendipity in finding good opportunities is great, but how to figure out when a good opportunity is actually good? During the last months I developed a list of questions that help me in building (or demolishing) confidence about a project under crowd sale.
First question is always “are they tackling a real world problem” but this question is slightly biased on the category of projects that ask money to build a new platform with super-duper features. This is not the case of Cryptopay, in fact they are not collecting money to tackle some unsolved challenge rather they simply want to consolidate their business getting new licenses and adding new products.
This answers also to my second in line question about “technology risk?” Given the kind of milestones, no technology risk seems latent. Even the most ambitious goal of a peer to peer launchpad for customized ICOs is not the first of its kind, yet this could be a valuable market segment to cover and new ground to make an ecosystem flourish.
Another point always worth to be checked is the role of the token. Many ICOs propose the sale of utility tokens, in other words, tokens that once the platform is built will unlock some functionalities or can be redeemed to finally access to the pre-paid services. In many cases the domain specific tokens have no other function that replacing the native cryptocurrency providing little or no added value to the system. However, this is not the case of CPAY, the Cryptopay token, from their website they state “These tokens will give investors the right to receive monthly referral commissions out of CPAY aggregate revenue from existing and newly developed products”. Thus it is pretty simple and easy to understand even for the layman investor, tokens grant a percentage of Cryptopay revenues back to you.
As introduced above, Cryptopay is a company profitable since 2016. This makes a huge difference as the team already proved to be skilled in the business. A company that operates in the fintech market is half technology and half compliance. Being established in the Bitcoin market since 2013 makes Cryptopay knowledgeable on both aspects.
For the cryptocoiners interested in the sale beware that the price of the CPAY is 1 milliether and the very first stage of 50+ ether minimum purchase with 25% token bonus is unfortunately over. From now on tokens can be purchased in a minimum amount of 0.04 ether which is affordable for the rest of us. Until the 17th of October you can still get a 2.5% bonus and then no bonuses until the end of October.
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