Today I ran across a very interesting ICO that I thought I would share with you. I don't really invest that much in ICO's but I thought this one looked interesting. It's a definite high risk, high reward category.
*It is intersting to note that you can earn another 22.5% bonus Bitto if you invest now in the second round of the ICO. You also have to invest at least 0.1ETH to participate.
You can access the whitepaper here: https://www.dropbox.com/s/ah16005ivorftil/The_BiTTo_Coin%20final%20Edit.pdf?dl=0
THE PRODUCT
Bitto at its core is like any other cryptocurrency exchange. It gives users the opportunity to buy and sell cryptocurrencies of all shapes and sizes. However, there are several different features that give Bitto and interesting value proposition which I will go into.
SIGNAL
Bitto will give us regular joe traders the ability to trade like a pro. By following good traders we will be able to pull off the same trades they do. This has a "90% profit rate" according to Bitto's whitepaper. I don't know about the 90% success rate. I like this idea though and it'd be something I'd love to be able to try.
LENDING
"A unique value proposition for BiTTo is the peer-to-peer lending platform, especially without the involvement of a third party trustee. BiTTo allows users of the platform borrow money from another user without losing their cryptocurrencies. A lender on the platform is guaranteed a return on investment of at least 1 percent daily. " - Whitepaper
BORROWING
"Borrowers use their cryptocurrencies as collateral and get loans in their fiat currencies deposited directly into their bank accounts. Borrowers get rewards for timely pay-ments of their loans. A point system used to measure borrower behavior also ensures borrowers can enjoy credit advantages in future. "
I'm not one for borrowing money, especially in fiat currency. This seems a bit fishy/ dodgy but if you think in terms of profit, people borrow all the time and this will draw people to the exchange.
THE UPSIDE
These estimates are based on 1 million new users being added each year. This is a very conservative estimate but I'm still not 100% sold on these numbers. Again, a lot of other factors go into the crypto-verse. Yet, if it's still around by 2021 I'm sure that the value will be quite high.
Quickly if we look at this infographic, you can see the differentiating factors Bitto claims to have over its existing competitors. Now I'd like to draw your attention to two things.
1) 24 Hour Volume:
This number is a bit bullshit. When is this 24 hour volume expected to happen? I'm sure that maybe within a year and a bit the exchange could reach this volume, but there are a lot of factors that go into this. And even if they do meet this volume, the other exchanges will most likely have a lot higher volume than them.
HOWEVER!
2) Total Circulating Supply:
Compared to KuCoin and Binance, the circulating supply of the Bitto token is around 1/4 less. This means that in theory the exchange would need only around 1/4 of the activity as the other coins to have similar prices per token. Now this isn't an exact science, but the low supply definitely means that the upside is a lot greater.
THE ONE REASON I BOUGHT THIS COIN
There was one scenario that I can see playing out that will really push this exchange to be incredibly successful.
These days cyrptocurrency influencers like DataDash, Coin Mastery, Crypto Investor all have huge fan base followings. Anytime they suggest investing in a coin it usually sees positive price action. A lot of these influencers have referral links for exchanges and make money off of these.
I can definitely see a world where one of the influencers hears about this exchange and allows their followers to follow them on Bitto. That influencer would earn money from having followers follow their trades and at the same time increase users on that exchange. If someone like DataDash starts using Bitto, then this thing will BLOW THE FUCK UP. Trust me.
CONCLUSION
Look. There's a lot of risk here I'm not denying that. But I think there is a solid product being produced here that has a small chance of being aboslutely massive. Look at where Kucoin, Binanace and their respective tokens are now. I think by the end of this year this exchange will either be dead, or it will be BIG. I'll take those odds on a small investment.
Disclaimer: None of what I have provided is legal financial advice. It is imperative you do your own research and in some cases seek professional council.
