Oober Wallet ICO Review: New App-based Cryptocurrency Exchange Platform

Cryptocurrencies are here to stay. Despite a rather niche beginning and a number of controversies, the rocky crypto road goes on regardless.

But if one were to find a flaw in cryptocurrencies it would be their low portability. At present time, cryptocurrencies have significant limitations to their wider use.

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In other words, digital currencies cannot currently be used for day-to-day activities such as shopping at the supermarket, paying at gas stations, or taking the bus.

Digital currencies are also not particularly easy to trade into either fiat money or other cryptocurrencies. An exchange platform is required for this, and many of these platforms have been hacked, or are associated with risk or loss.

Oober Wallet comes in offering a portable exchange platform so users can change their digital assets into cash via an app.

Oober Wallet: How it works

The Oober Wallet platform can be accessed via an app, which greatly simplifies the exchange process.

The app searches nearby, suitable wallet users (‘Cashiers’) who may accept your smart contract and exchange your coins into local currency cash, at the optimum market price.

Oober Wallet offers:

  • Cross-border payment
  • Foreign Currency Exchange
  • Open API for Developers
  • Cross-border Remittance
  • Cryptocurrency Exchange
  • Small Payment

Oober Wallet in figures & quick facts

  • Token name – AIG
  • Total amount of tokens issued – 912m
  • Token price (during pre-sale) – 1 ETH = 1,250 AIG
  • Token price (during ICO) – 1 ETH = 1,150 AIG
  • Pre-sale start date – May 18th, 2018
  • Pre-sale end date – May 31st, 2018
  • ICO start date – June 8th 2018
  • ICO start date – July 8th 2018
  • Soft cap (during pre-sale) – 1,000 ETH
  • Hard cap (during pre-sale) – 10,000 ETH
  • Soft cap (during ICO) – 10,000 ETH
  • Hard cap (during ICO) – 500,000 ETH

Notes:

  • All unsold tokens will be burned.

Bonus Scheme

Oober Wallet will offer a Bonus Scheme, which will run thus:

  • Pre-sale – 25% Bonus
  • ICO Week 1 – 15% Bonus
  • ICO Week 2 – 10% Bonus
  • ICO Week 3 – 5% Bonus
  • ICO Week 4 – 0% Bonus

The Oober Wallet token

The Oober token (AIG) is described as a “utility token, the currency for interacting with the Oober platform.”

Once created, the AIG tokens will be distributed as follows:

  • ICO – 63%
  • Private Investors – 8%
  • Team – 17%
  • Early contributors – 3%
  • Marketing – 9%

Learn more about the Oober Wallet team here.

Social media presence and digital footprint

  • Facebook – 10 followers
  • LinkedIn – 2 followers

Competition

Exchange platforms for digital assets are rather common across the blockchain. Indeed, they are one of the most widespread themes for ICOs. This means that Oober Wallet enters very crowded waters.

SafeCrypt, Fondocoin, and Konios to name but a few, but there are dozens more out there.

Conclusion

Trading cryptocurrencies is an inherent aspect of the cryptomarket, so any platform that enables such task will fulfill a market need.

The problem here is two-fold. Oober Wallet is facing a lot of competition in the form of a myriad ICOs with a similar, or identical proposition.

Oober Wallet’s crucial flaw is that it has virtually zero presence on social media, which is likely to hinder its progress. This ICO currently has no whitepaper either, so things are not looking too promising at this point.

We’ll revisit this ICO’s progress in due course.

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