As an investor, I am looking for investments that will provide me with good returns and in the crypto space, good returns means a few folds returns on the initial capital. There are many ICO in the market nowadays so we need to be careful which ICO we choose to invest our capital. While analyzing the Change Bank ICO and their concept, I cannot help but draw parallels with TenX.
At first glance, there are a lot of similarities between Change Bank with TenX. This is not necessary a bad thing and I am actually excited with the similarities as this does shows that the business concept of Change Bank is in demand by the public, if we look at the successful ICO sale by TenX where US$80million was raised. Moreover there are several plus points Change Bank has over TenX, and that is why I am excited over the coming Change Bank ICO.
Both Change Bank and TenX will have their own wallet that is able to store the various main crypto currencies and both will have a credit card for which payments with crypto currencies will be possible. This is the main product for both companies and the corresponding similarities are the 0.5% rewards for holding on the TenX Token and a 0.5% of all Change Card transactions to Change Coin holders.
Strangely TenX is rewarding the TenX Card Holder with a paltry 0.1% rewards too. But that does not incentivize anyone to hold on to their token. For Change, they are rewarding the Change Coin holders with 83.33% of the 20% revenue generated by the Third-Party Service Providers(TPSP). At the same time, 16 .67% will go to the marketplace investors who invests their crypto currencies on the investment options in the marketplace. This seems more logical as there will be more incentives to hold on to the Change Coins and also invest into the marketplace services. A win-win for Change Coin Holders.
In my opinion, the biggest difference between the two is the Change Marketplace and I believe that this is the focus by the Change team. A very strategic move as this clearly differentiates them from the competitor. At the same time, the Change Marketplace offers the Change team a very apt platform to establish partnerships with various service providers; boosting their status.
Now lets look at the likely scenario for Change Bank ICO. TenX achieved 80 USD million dollars in their ICO and Change Bank is targeting for a 200,000 ETH as a hard cap. Based on an average ETH price of 300USD, this equates to 60 USD million dollars. I suspect this will be easily achieved and we are likely to see the Change Coin overtaking the TenX token once it is traded on the exchanges. Note: while we will be tempted to flip our Change coin once it is tradeable, I think the right strategy would be to hold on to the Change coin and reap the long term rewards of the shared revenue; something I am looking forward to.