Encrybit ICO Review
Today, there are more than 200 cryptocurrency exchanges in the world, and each of them tends to stand out and become, if not the first, but the best in some area. Therefore, it is strange to see another ICO project with the aim to create a new exchange, which will definitely become different. As people say, sky's the limit. However, this does not mean that it can be achieved by endlessly repeating the same actions that others have done before you. If you want to get what others don't have, you need to stop, think and start doing things that nobody's ever done before. This is the way to achieve truly outstanding results, and only this way the legends of business are born. Whether the Encrybit project becomes a new leader among cryptocurrency exchanges or just another pale shadow of competitors, we will try to understand in today's review.
First of all, let's see how this project is perceived by international rating agencies. Among the 14 agencies we consider, the project has been rated by only three: ICObench, ICOmarks and TrackICO. Let's note that almost all the indicators of Encrybit received maximum ratings. The only exception is the ICO profile, where the agencies' opinions were divided. TrackICO put the maximum of 14 points for it, but ICObench and ICOmarks are not so confident in its detail sufficiency, so they gave 3.7 of 5 and 7.7 out of 10, respectively. On the other project indicators, no agency has any complaints. The team is 10/10 from ICOmarks and 4/4 from TrackICO. Social Networks activity -10/10 from ICOmarks and 9/9 from TrackICO. ICOmarks gave a maximum of 10 points even for the site, and it is very rare, you can believe us!
The creation of the best crypto-exchange is not an easy task, so you need to offer something new and unique in order to get into the market leaders. The team, in our opinion, went on the original way and for the beginning conducted several surveys among traders regarding the conditions, which they are not satisfied at the moment in the work of other exchanges. Encrybit brings the results of the polls, after that it offers a solution to each problem the pages of the white paper. For example, as Encrybit poll shows, one of the sources of major concern for traders are high commissions for withdrawals. Encrybit decided to solve this challenge by keeping the trading fees marginal, with withdrawal fee depending on the miners and their mining fees without having a fixed amount as other platforms. Unfortunately, it is not specified what kind of currency it is necessary to mine for paying the minimum commission for withdrawal, because the exchange tokens will not be mined. In addition to the reduction of commissions, the exchange plans to introduce many technical analysis tools (competitors cannot boast of having them), social trading, alerts and other useful benefits. There is no doubt that a very strong team is needed for implementation of all the possibilities of the project. Let's look at the team.
The team’s CEO is Jitendra Rajput, who has been engaged in entrepreneurial activity since 2011. Prior to that, Mr. Rajput held various positions in IT companies. Also, according to his LinkedIn profile, Mr. Rajput is Member of the British Blockchain Association. Fabrizio Cane, the CTO at Encrybit, has an interesting career path. He worked as a Technical Lead in such well-known companies as Abbot and National Stock Exchange, and also worked as Software Architect in Bank of America. In general, many Encrybit employees have been involved in the IT and blockchain industry in one way or another. This applies to COO Yogesh Trivedi, CMO Darshit Parmar, Information Security Expert Alberto Daniel and many others. We believe that with such an experienced team the project will be able to implement almost any tasks. If where there is a will, there is a way.
Unlike a team the white paper is unambiguous. On the one hand, the document details all the problems and "pains" of cryptocurrency traders, and then the written way how Encrybit intends to solve them, what steps will be taken, and that it will give in the end. Here the guys did their best. On the other hand, in the white paper there is no mention about such standard sections as “Team” and other platforms and introduce many technical analysis tools, social trading, alerts and other useful benefits.
Social network. the Encrybit Telegram - 17000. Twitter- 12600 subscribers.
The strong sides of Encrybit are an experienced team of likeminded people, a great community and the view of final product.
“Market research”. They are found in the white papers of almost all projects. It's strange that there are no such sections here. Also in the document there is no to assessment of the competitive environment, nor the financial and economic indicators, which the project plans to reach after the investment (three sentences in the section "Revenue Model" no need to count). But the competition among cryptocurrency exchanges is very large, and the main players need to know in person! In our opinion, the White paper of the team should be significantly improved, so that when a potential investor read the white paper, he has no unsolved questions, and he rushed to buy Encrybit tokens.
Advertising is one of the main motivation to purchasing, so the special attention of all projects, of course, should be given to promotion, extension of the community and attraction of new investors. In the crypto industry, the main tool for this purpose is the social network. Judging by the number of subscribers in Telegram and Twitter, the Encrybit team uses them to the full. The most popular way to get information from the community seems to be Telegram, where just over 17000 people are registered. The second most popular is Twitter with 12600 subscribers. But Facebook is not considered as the main channel of promotion by the team, because at the time of review writing Encrybit had only 997 subscribers in this social network. However, Facebook, as a rule, does not help very much in the promotion, so this social network could be neglected.
To summarize, we can say that the strong sides of Encrybit are an experienced team of likeminded people, working in the IT sphere for several years, a great community and understanding of what users expect from the final product. But the White paper requires further elaboration. We recommend the team to work on it before the crowdsale. In general, we wish the project luck and successfully reach hardcap!
We offer you a review of an innovative project that differs from its competitors. The developers of Encrybit have set a goal - to achieve maximum ease of use for users.
Encx ICO position in the currency market
A large amount of attention was paid to the security of the developers. It is completely based on the blockchain system. Smart contracts provide a guarantee for the fulfillment of all the conditions of cooperation. This ICO project uses a multi-layered Firewall system that can be managed from multiple locations. And the Watchdog algorithm is used to monitor the exchange activity and disable hacker attacks.
The priority of their work is amazing customer service that will make their business a success. They optimize support with the establishment of timelines. Multilingual client support adapted to be fully supported by multiple language variants.
Encrybit is a modern trading platform where traders can work with popular tools for technical analysis. These are tools for market research: data analytics, trading strategies, cryptocurrency news, social channels and online announcements. Users can analyze the movement of the market and the price impact of all processes.
The Encrybit ICO project attracts its customers with well-planned promotions, events, sales. They have fair and transparent policies for the benefit and respect of their users.
In the course of work, the project is developing a transparent favorable outcome policy so that it can achieve the most favorable outcome. He will improve the ratio of the coin listing process, the trading fee structure, the airdrops and forks.
Rating of progress using Encx in trading
Encrybit ICO is based on a modern trading platform and minimizes the use of API’s to trade on third-party paid platforms. The project offers the following functionality:
• set of professional graphics tools;
• online trading;
• social trading (stocks, blogs);
• wide book of characters (L1, L2);
• B1 (business analytics) report generation tool to make it easier for customers to manage their investments;
• coin reader;
• news feeds;
• alert notification and more.
The Encrybit ICO team invests tokens in various sectors:
- 50% Token for Sale;
- 2% Referral and Bounty;
- 2% Advisors;
- 11% Encrybit;
- 10% Founders;
- 10% Early Investors;
- 5% Team;
- 10% On-going development Funds.
We offer you an innovative investment platform that processes many trades and supports a convenient interface. This platform uses 162 million tokens in its work. The crypto price of tokens sold in ICO is $ 32,400,000. Now Price in ICO is 0.2 USD.