We've published a blog post regarding the utility and value of the Coinvest COIN token. View it here: https://[Suspicious link removed]/vimbQd.
I have read your WP and this article and still missunderstand WHY I need COIN
Thanks for your feedback BeenieMan.
We were inspired to create Coinvest as a vehicle that enables anyone to easily take advantage of investing and using cryptocurrencies with ease. We seek to eliminate the complexity involved with the current options available on the market today.
With this being said, Coinvest is an an end-to-end solution for users where you can buy, invest, AND spend cryptocurrencies... all in one easy-to-use platform / wallet and requiring only one COIN. Meanwhile the process is completely decentralized with no third-party involvement.
I`ve lost your answer in pages of flood =) Sorry
But what is your difrence withCOSS, BQX and many other multifunctional crypto wallets?
We will break your question down into two parts:
- How do we position ourselves against our competition?
- How do we compare against COSS
- How do we compare against Bitquence (Ethos)
Our closest competition at this stage of the market are exchanges.
First, Coinvest is a trading platform (and market maker) where you make investment transactions and redeem profit from your trades through a process that is completely decentralized and handled by smart contracts.
Our difference and main advantage is that we are decentralized. Our investment process is managed by smart contracts including user investment data and funds. User funds are held in escrow (and not by a centralized third-party) by the smart contract until they are withdrawn by the user. Coinvest has no ability to touch or manage those funds including the liquidity pool that collateralize and back the investments. Once funds are withdrawn from a user’s portfolio, they can be stored in the wallet or spent using the built-in debit account.
Additionally the following:
- Simplicity and Speed: No KYC requirements and validation as investments are virtual and we don't deal with Fiat currency
- Convenience: Invest in multiple cryptonized assets without having to worry about storage, multiple wallets, multiple private keys, and transferring / supporting all coin protocols
- Functionality: Coinvest enables flexible trading options to help you obtain the best value with buy, buy limit, short orders
- Cost: Since Coinvest is automated and controlled by smart contracts, third-parties and overhead are removed which leads to lower cost transactions fees
- Diversification: Coinvest enables you to curate your own personal index fund (In the future, we will allow users to invest into other user's personal index funds.)
For a complete and detailed comparison, we recommend you view pages 7 and 8 of our whitepaper at:
https://docs.google.com/document/d/1ePI50Vd9MGdkPnH0KdVuhTOOSiqmnE7WteGDtG10GuE/edit?usp=sharingCOSSAs for COSS, they claim to be a one-stop shop for everything related to cryptocurrencies (with focus on businesses and developers). This includes the ability to exchange, create smart contracts, act a payment gateway, enable commerce solutions, etc. This is grand vision to operate in every aspect of cryptocurrencies under the COSS token ecosystem. This is great, but variably different from Coinvest as we are solely focused on enabling users to buy, invest, and use cryptocurrencies. Our platform doesn't assist with smart contract creation, merchant tools, etc. While we aim to be a one-stop shop for cryptocurrencies, we are focused on users and retail investors.
Therefore our largest differences between Coinvest and COSS are:
- Audience and Mission: They are focused on developers and businesses while we are focused on consumers and retail investors
- Decentralization: Our order execution, fund management, and distributions are managed and executed by smart contracts (so there is no third-party involvement)
- Growth Potential: In order for COSS to reach it's full potential, they have to create partnerships and engage in deals with developers and businesses to gain traction. The sales cycles for this is much longer and more difficult. For Coinvest to succeed, the company needs to acquire users which has less of a sales cycle, lower customer acquisition costs, and can gain traction through virality, referrals, etc.
- Experience and Credibility: We have years of corporate experience with our team and advisors ranging from companies such as Microsoft, IBM, etc.
Ethos (Bitquence)Ethos is leveraging an API to settle trades with exchanges and acts as an intemediary (third-party) for handling your trades. This is not prefered as now you have have to manage a portfolio with Ethos and trust Ethos and an exchange for a simple trade order. Ethos has also not provided any technical specifications in their whitepaper as we have so we assume that they are still architecting their solution. Therefore our largest differences between Coinvest and Ethos are:
- Decentralization: Our order execution, fund management, and distributions are managed and executed by smart contracts (so there is no third-party involvement)
- Speed: Order execution is instant on Coinvest vs. having to wait for settlement on an exchange through Ethos API's
- Experience and Credibility: We have years of corporate experience with our team and advisors ranging from companies such as Microsoft, IBM, etc.
- Transparency and Execution: We've already documented our architecture and created our smart contracts (available for testing on GitHub) in just a few months time. Ethos has not done any of this. Execution > Ideas and slick marketing videos
To build on the execution argument, our full MVP will be released in the coming weeks. So we’ll be ahead of any players that are looking to get into this space.
Hopefully this helps clarify differences. If it doesn’t and you still have questions, please let us now.