Why I back the cryptocurrency: Iconomi
Before we dive into the why, lets look into the what— specifically what is Iconomi and it’s team doing that’s so special?
ICONOMI is a Digital Assets Management Platform; a new and unique service that allows beginners (and investors/blockchain experts) to invest in multiple cryptocurrencies at once.
So, why do I back Iconomi, and why do I think it’s one of the most valuable cryptocurrencies currently on the market? Three reasons; Team, market and product.
When looking through multiple projects on CMC, I think it’s clear to apply common rules that VC’s and Angel Investors have been doing for years; you must look at the team, market and product, and it’s viability in that order.
A strong team, will nearly always succeed in a given market, and I believe that Iconomi are a very special bunch. Their 27 strong team, consisting of 10 developers, 4 major executives and multiple Legal, HR, help and support staff has been nothing but clinical in their execution of deadlines and vision, which, in the blockchain world, vision is almost never realised. With such a large team, (not even including their off-site staff), and comparing this to other crypto projects, there isn’t many (especially ERC20 Tokens) that I believe can match them.
The team, and especially, Jani and Tim have an incredible track record with previous Bitcoin exchange company; Cashilla, a fully licensed euro and bitcoin payment processor. Cashilla, handled SEPA transfers, exited positions from BTC to EUR and even allowed the end user to pay their bills in BTC, (if you’re crazy enough). Cashilla processed an impressive €16M throughout it’s short two-years of operation, (2014–2016). A perfect example of a smart, fiat to crypto entry and exit system.
The market, Oh the market! There is plenty here for me to talk about, whether it be the rise from $12bn to $177bn in just 10-months or Bitcoin and Ethereum offering outstanding gains for 2017. Either way, it’s clear to see that the demand to satisfy new investors is beginning to rise. All the reason to look into your next investment and follow a team that can deliver. It sure is hard for any of us to pick the next OMG, NEO or STRAT that’s going to offer that min. 10x gains.
That’s why Iconomi offers something unique, and very exciting! It’s a platform that will allow new-money to flow into Crypto, and, from more traditional investors, welcoming the likes of; Fund Managers, VC’s, Private Equity and Angels. Iconomi’s stance is simple; make a platform that addresses the market; which is and will be, everyone.
Everyone is your hairdresser, the school teacher and the man in a van, they all want a viable and trustworthy place to put their funds when looking to make a smart investment. After all, the Blockchain buzzword is truly in full swing, and Iconomi are now perfectly positioned to help them.
Regardless of Blockchain, being a key growing phrase, the last five years hasn’t created a true investment need for the average user, at least not in this space yet. Only in the last 6 months has a need for people to invest into multiple cryptocurrencies been a viable addition to their investment portfolio.
Great — so people are searching for the best cryptocurrency to invest in and are unsure which cryptocurrency is right for them. That’s the problem that Iconomi is going to solve. This uncertainty mixed with google search trends on the term Coinbase, might help us understand that it’s new money entering the space, and more importantly, they want to know which market will offer the best yield.
Now, the product (Iconomi.net) is going to help solve this gap in the market, the gap being; new money missed the Bitcoin run, and now they want to pick the next Bitcoin.
“New money missed the Bitcoin run, and now they want to pick the next Bitcoin.”
The sad reality is, this isn’t 2014 anymore, they missed that boat and are searching for the next one, and now more than ever, they believe it isn’t a ponzi scheme, it is no longer for drug cartels and black-market deals. Bitcoin and other cryptocurrencies are truly an impressive asset class and should be looked at in this way. They are looking to make a move, and more importantly, they do NOT want to loose their money.
In my personal opinion, Coinbase are one of the best ways for anyone entering cryptocurrency, it’s easy-to-use, super-cool and helps bring down the wall that has existed for years that stopped new FIAT entering cryptocurrency. Iconomi, I think, will be the next.
Why will people use Iconomi.net?
Their product has an outstanding option of multiple digital asset arrays (a mutual collection of multiple cryptocurrencies), which will allow the new user to have a level of volatility that they desire. Baby steps, if you will.
The ability to buy a DAA, will automatically allow diversification, a way to spread risk and offer a more comfortable way to invest.
What’s to come for Iconomi.net?
The team are working extremely hard on the next phase of their product and they will be introducing; a FIAT gateway, allowing people to participate directly from card/SEPA, and their flagship DAA, BLX to be added on traditional exchanges. Click here to see BLX’s 300%, 6-month return.
Disclaimer: The Iconomi team expressed that; “Moving DAAs into fiat may be possible as early as this year.” — Iconomi Reddit AMA, October, 2017.
I would like to note, it’s possible, not necessarily probable.
Iconomi is an outstanding product with a skilled team in one of the largest emerging markets that the world has ever seen. There is somewhat, speculative FUD on ICN’s current token utilisation, but as companies grow and new users adopt new technologies/services, so does it’s use-cases and I think we’ll see some exciting developments for Iconomi in the next 3 months.
The ICN Token and the Iconomi team have come a long way in a year, and I believe that the introduction of new money into cryptocurrency is still to be the biggest payday yet, whether it’s institutional or not.
THAT’s why I think it’s one the most undervalued Cryptocurrencies on the market, even in this non-bitcoin drought #RIPAlts.
Thanks for listening to my meandering thoughts.