Emerging Coins This Week: CREDITS (CS) ICO Review.
On today’s edition of Emerging Coins This Week, we take a look at CREDITS (CS) and bring you an insightful ICO review.
CREDITS (CS), who recently completed their ICO on February 18th, 2018, has recently hit the exchanges. CREDITS is a blockchain service, like a Russian Ethereum, and they’ve got their headquarters based in Singapore. From the moment CREDITS hit the exchanges, they grew 600%, until today, even though the general market showed a downfall.
What are they about and why are people getting excited?
The solution that CREDITS brings to the table relies on the speed, volume and cost they offer in today’s market. They state they can hit super-high transactional volumes (higher than visa and other competitors), with high speeds and minimal costs. They have an alpha product which is available to play with which shows users a glimpse of what this project is about, and they have about 22 partnerships lined up with other blockchain companies. The security measures they are implementing for the project include the development of an external security audit, and all the tokens are pre-mined, plus they are setting up master nodes, so there won’t be any power-hungry mining. Their full product will go live this summer.
Unlike other emerging coins that have reached amazing marketcaps with nothing more than a white paper, a good marketing campaign and a little help from John Mcafee, CREDITS seems to be more complete. They offer a comprehensive website that explains all the steps of the project, introduces the team, and sets out the future plans for the newly-emerged ICO. Pre-ICO, the reviews of the community were mixed and they currently have an ICObench rating of 3.6/5.0, ICOdrops shows medium interest, Icorating gave them a 2.9/5.0; which just shows that sometimes, the main crowd is not the best source of information.
Through their whitelist pre-ICO stage, the interest grew quickly and they were able to cultivate an extensive fanbase. Their ICO was probably not the most beautifully managed affair in history, and the Alpha release of the product was announced and delayed several times before finally being released just hours before the ICO commenced. Additionally, throughout this stage, CREDITS kept changing their rules around the caps on the ICOs, confirming at the very last day that there would be low personal caps and differing rounds and rules.
It appears that, thanks to their strategy, they were able to secure multiple investors and managed to bring the price of their ICO from $0.20 to $1.17 in a matter of days, catapulting themselves up the Coinmarketcap charts from 1200th to 129th position. The price dropped a little after that, but even though the market experienced a serious fall throughout this week, they were able to maintain the price of their coin.
At present, this coin is being exchanged on Kucoin, Idex and Tidex, and as they become listed on more centralized exchanges, it is likely to have a positive effect on their growth. CREDITS definitely looks like a promising prospect for the summer.