There are tons of altcoins out there, but it can be hard to know which ones are worth your while.
Some of them can be pretty crappy. It’s hard to predict how they’re going to perform on the market.
CoinFi is aiming to change all of that.
CoinFi is a platform offering curated research, trading signals and algorithms, market-changing news, and more that is both crowdsourced and provided by professionals.
The coin backing the platform, COFI, would allow buyers to invest in the tool itself.
The introduction of such a technology would change the landscape of cryptocurrency trading in a big way, especially as it grows in popularity.
But does that mean that this token is the next big thing?
Before we can get into the potential and value of CoinFi, let’s talk about what the platform and coin actually are.
CoinFi is a platform offering professionally curated and crowdsourced research, trading signals, algorithms, and news to give traders real-time market insights.
The CoinFi (COFI) token is an ERC-20 token that will be used to access the platform’s advanced trading signals and premium features and research.
Tokens are staked and used to encourage users to share their market wisdom. This also helps to reduce volatility.
If you want early access to CoinFi’s public beta, you can sign up now on the CoinFi website.
The official public beta launch of CoinFi took place on April 6, 2018, so the public can use the platform and test it out.
If users curate news, provide analysis and research, or share trading signals, they will be rewarded with CoinFi’s token-for-information feature.
The core components of the CoinFi platform are:
CoinFi’s in-house contributors will post their own news and analysis of the coins assigned to them to cover.
Users will have the chance to fact-check writers’ work. An account’s reputation can decrease or increase based on what the crowd finds, meaning that the platform is completely decentralized.
Content quality will depend on page view, upvotes, and other social signals like the trust score of the contributor.
Signals will be offered on the platform, along with bots and algorithms created by the CoinFi team and other users.
The company will have an auction system for any third party products that are built or sold on their platform.
The community is built around the idea of reputation. Users will be able to vote content up or down with other community members.
Users can also offer subscription-based content depending on the success of their own analysis pieces.
Tokens can be used in many ways by those who are a part of the project.
To start with, users have to lock and stake coins in order to gain access to the platform.
From that point, people who provide content that other users find to be high-quality will be rewarded with coins.
The projected use of funds is as follows:
Token distribution is a bit different. For token distribution:
Since COFI gives users the incentive to create and share valuable information that helps others trade crypto, it’s easy to see how important that the coin itself is to this project.
Here’s why CoinFi has huge potential.
CoinFi is an ICO, which means that investors can exchange fiat currency for digital tokens that have a stake in the CoinFi foundation.
This allows businesses to create equity without giving up any real, tangible equity. If CoinFi delivers on the platform, this could be a huge payoff to investors.
Many cryptocurrencies are seen as a bubble because there’s nothing “backing” them. Initial Coin Offerings, or ICOs, do have something backing their value.
However, some ICOs fail to deliver what they have promised. CoinFi appears to be on the right track, though.
CoinFi also has a pretty large community backing in comparison to some other altcoins.
Such a large backing is a pretty good indicator that people trust this coin and this company.
The idea with the CoinFi ICO is that the tokens will grow in value as they are more heavily exchanged.
For early investors, this is good news, since the coins have the potential to become more useful as time goes on.
The CoinFi market cap of $30 million after crowd sale is quite low, especially in comparison to similar coins.
This gives COFI tokens the potential to 10x in price in a very short amount of time.
With any ICO, buyers have the option of purchasing tokens during the presale, waiting for the public sale, or buying the coins when the full platform is completed and running.
Since early investors get a discount on COFI that decreases over time, it’s likely smart to buy into the CoinFi project early on to snag a good price per coin.
The CoinFi proposal could be a huge help to traders since they’ll be able to track market conditions or social media activity across the crypto market.
The platform can also be used to discover real-time information about new coins or catch up on industry news.
Overall, the end goal of the project and platform is the give traders the tools needed to invest wisely all from one platform.
Here’s why CoinFi might be undervalued.
The demand for some kind of analytics tool in the cryptocurrency world is huge.
It’s hard to track and predict coin prices. But the CoinFi team has a background in investment and finance, so the potential for investors is likely huge.
If the platform is successfully executed and introduced, it would be a gamechanger for token traders, regardless of their experience in the trading world.
The COFI tokens allow users to access higher levels once they hold more tokens, which prevents too many users having access to premium information.
Overall, CoinFi has huge potential for both long-term holding and flipping.
All of the projects that compete with CoinFi have market caps that are at least over $100 million.
With the huge market awareness and community backing for CoinFi, there will be a much larger demand for the coins than there will be supply, which will drive up prices.
For long-term holding, this would be a great investment coin.
Cryptocurrency investing is the Wild West, but if investors have credible information to make trades, they can outperform most of the market.
CoinFi introduces this opportunity. If the platform is executed correctly and found to be a success, it’s value will only increase. And so will the coins that investors hold.
Right now, COFI isn’t on any huge platforms. You can only buy it through two exchanges.
The first is KuCoin.
The second is Gate.io.
Because COFI isn’t listed on any major exchanges yet, it’s likely undervalued.
As it is added to more exchanges and the project advances, I expect the price to increase.
With so many new coins coming out every day, it can be hard to know how to trade and when to hold onto your coins.
Even identifying which coins are worth your money is tricky.
CoinFi aims to solve that problem with research, market insights, news, trading signals, and trading algorithms.
These will be provided by both professionals and users of the platform.
The CoinFi token backs the platform and allows for buyers to invest in the technology, which has already attracted some big attention from the press.
And a huge community backing is standing behind this coin and it’s platform, giving it huge potential.
Since the market cap of COFI is much lower than similar tokens, the demand is expected to become much larger than the supply once this coin takes off.
For that reason, it may be best to invest in COFI now. Early investors receive a discount in comparison to those who wait to buy once the platform launches.
It’s also not available on many exchanges yet, so it isn’t readily available yet, which is causing this token to be currently undervalued.
Before going all in on a coin, it’s important to do your own research.
What do you think about the potential of CoinFi?