Reviews

Cryptoprofile ICO Review

Nov 12, 201867

Despite the gradual decrease in the number of ICO projects that we have seen in recent months, there is still much scam among them. It means that investors are still very likely to invest in a promising project and never see them again. To avoid this unpleasant outcome you need to invest in ICO through special funds, pre-checking the team and the projects themselves on reliability. However, in this case it is not possible to guarantee for 100% that the ICO founders will not disappear with your money. A different approach to solving this problem is offered by the startup Crytoprofile, scored the highest rating among the ICO projects considered last week.

The weighted average rating of the Cryptolaboratory, derived from the ratings of the 4 agencies that evaluated the project, is 94.18 points from 100. Of all the indicators considered, the team received the best ratings. ICOholder gave 4.39 points out of 5 for it, and ICOmarks and TrackICO gave the maximum points-10 and 4, respectively. ICO Profile is also appreciated by all agencies quite highly. ICOholder awarded for this indicator 4.05 points out of 5, ICOmarks gave 8.1 points out of 10, and also ICO profile received 4.8 out of 5 from ICObench, and TrackICO also put the maximum score-14 points. Of course, high ratings can not but please potential investors, because they allow hoping for successful project implementation. However, some Crytoprofile indicators have drawbacks. For example, ICOmarks believes that the project website is worth refining, so it only gave 5 points out of 10. ICOholder does not see the project activity, so for this indicator the project got only 1.5 points out of 5. Next, we will look at the project in more detail and find out how justified the agencies evaluation.

The Cryptoprofile team intends to implement the idea that they said will revolutionize cryptocurrency airdrops and prove highly beneficial for those holding CP tokens. More specifically, Cryptoprofile is an information website that will collaborate with ICO projects to assist them in fundraising. Naturally, the projects will be carefully checked to eliminate the scam. Thus, investors will be able to смогут invest in ICO without any fear of being swindled. The interaction mechanism between Cryptoprofile and ICO projects is interesting. If ICO decides to collaborate with the platform, it will be required to pay $100k in CP token for marketing of the tokens. The CP tokens returned will be locked in a smart contract for six months until the client is listed on an exchange. At the same time 10 percent of the ICO’s tokens will be airdropped to investors who will be holding the CP tokens. Such a scheme will ensure constant demand for Cryptoprofile tokens, which will stimulate their growth. We are familiar with several projects that create similar platforms, but nobody had such an original approach. Therefore, there is a possibility that this project would occupy a decent part of the market. However, a lot depends on the team, so now let's look at it.

The main team of the project is represented by 7 people, 6 of them are its founders. The first thing that catches the eye is the name of the position of the company's head – Managing director instead of the usual CEO. Of course, there is no difference, and perhaps this way the team just decided to stand out. In any case, it catches the eye. Let's start studying the team with Managing director, since we are talking about him. This position of the project is occupied by Max Ng. Frankly speaking, it is not quite clear why Mr. Ng is appointed to lead the project. Judging by LinkedIn profile, before joining Cryptoprofile, he was nowhere in charge of managerial positions. The longest-a little over two years-Mr. Ng worked at Baleno Kingdom as Assistant shop manager. He didn’t work in other places for more than a year. The same can be said about Jaclyn Lim, holding the position of Deputy managing director. And there is nothing to say at all about Alan Lew, the CTO, because Cryptoprofile is the only place of work, indicated on his LinkedIn profile. Whether Mr. Lew has not worked anywhere before, having come to the company immediately after the graduation, whether there are no achievements that can be advertised. In any case, it will be a negative signal for the majority of investors.

The White paper of the project looks a little better than the team description but not enough to mention it casually. The team describes the problems that exist in the industry in great detail. Under the words "in detail" we mean that the description of problems occupies almost 20% of the White paper. While in similar documents of other projects this paragraph occupies a maximum of 3%. The team tried too hard. The document does not contain any potential profit information that is expected to be released after the project has its full capacity. Despite the fact that the project has undeniable competitive advantages, there is no comparison with competitors in the White paper. In general, with the exception of an extended description of the industry's problems, the document has nothing special in it.

Cryptoprofile is promoting very actively. The status of the most popular channel for communication with investors is divided between Telegram and Twitter. Moreover, over the last month the number of subscribers in Twitter sharply increased from 5000 people. We do wonder how the team achieved it. In both, the project has just over 8000 subscribers. Facebook is a less popular mean of communication among investors of the project. Six and a half thousand people are subscribed to the project there.

To summarize our study of cryptoprofile, we can say that the project has found a very unconventional approach to the seemingly ordinary idea. However, in our opinion, the successful implementation of the idea will be slowed by the lack of experience of the team. Nevertheless, it will be quite possible for Cryptoprofile to become a very successful project. 



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Cryptolabaratory – young team of specialists, which have succeeded both in studying, work with cryptocurrency and sports, art, business etc. While working in this sphere we have acquired knowledge and skills, necessary for thorough analysis of news and reasons, allocate the most important and propose you, our readers, actual and informative analytics. Cryptolabaratory`s cryptoprofile ICO review should be useful while examining exchangers propositions, investing or trading.

 

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