Lately, I came across this project, that is, "Cremit" and in a short time it caught my attention. I reviewed the technical document and after a detailed study I thought about sharing my points of view with the Steemit community.
With more and more investors investing in cryptocurrencies across the spectrum, there is a pressing need for a mechanism that not only insures these investments but also provides them with a comprehensive and reliable risk management solution. This is where "Cremit" comes in, offering a robust and researched solution to help business owners and investors secure their investments in cryptocurrencies. While your Lot 2 of the pre-ICO is still ongoing as you still have to launch your main sale of ICO tokens, here is our detailed analysis and review of Cremit ICO.
As cryptocurrencies become increasingly popular after the incredible returns that benefited investors in 2017, they have also become a coveted "asset" that attracts investors from all over the world. Since the beginning of the first cryptocurrency, Bitcoin, followed by the second generation of cryptocurrencies, Ethereum in particular, we have witnessed Blockchain technology redefining the way we exchange money. Currently, Blockchain projects also offer companies appropriate and articulated solutions for some complex business problems, such as facilitating business processes, making them more transparent with decentralized accounting books and processing transactions more quickly and improving security. This continues to inspire more and more companies to develop their own tokens, leaving investors with a range of options and opportunities. According to Coinmarketcap, there are currently more than 1600 cryptocurrencies that exchange property in popular exchanges. While billions are invested and traded every day, it is important to understand that each asset or investment has an associated risk.
With more and more investors investing in cryptocurrencies across the spectrum, there is a pressing need for a mechanism that not only insures these investments but also provides them with a comprehensive and reliable risk management solution. This is where "Cremit" comes in, offering a robust and researched solution to help business owners and investors secure their investments in cryptocurrencies. While your Lot 2 of the pre-ICO is still ongoing as you still have to launch your main sale of ICO tokens, here is our detailed analysis and review of Cremit ICO.
Cremit: first provider of banking and insurance services for cryptocurrencies
Cremit identifies a common problem shared by almost all potential cryptocurrency investors / investors and that is "Security of your investments". And, with security, they mean covering the risks faced by investments due to the "Volatility of the market". Clear in its approach, Cremit is developing a solution to help prospective investors and cardholders ensuring that they maximize their profits by securing their investments. Market volatility is unpredictable and there are multiple factors ranging from government policies to hacking scenarios and from market liquidity to something as nominal as an influential review that can be attributed to an unprecedented change in the value / price of a given cryptocurrency. . Cremit mitigates such risks and provides its users with greater security in terms of investment.
"This is a game changer for the cryptographic world since the biggest fear for anyone who possesses altcoins is the market volatility in cryptocurrencies.We offer insurance for Bitcoin, Ethereum and other currencies against such volatilities.You can claim up to 100% insurance for your coins insured in Cremit "- explains Cremit's White Paper. They have a well-defined slab for their insurance services along with a comprehensive process to secure their crypto assets.
Cremit offers some promising features for its users, including a Cremit Smart Wallet, access to its multiprocess payment encryption and payment exchange portal, a cutting-edge mining farm for cryptographic mining and an exclusive Certificate of Deposit / Fixed Deposit. Of these, the outstanding feature that makes Cremit unique in its services is its multiple cryptographic exchange platform and the Fixed Deposit / Deposit Certificate.
The Multi Crypto exchange from Cremit will allow users to exchange Bitcoin and other popular alternative digital currencies without charges and will also be granted insurance on the default rate for users. In addition, the Cremit exchange platform is developed to process 200,000 orders per second, which not only offers users a negligible waiting time but also makes it scalable.
Another interesting feature that users can benefit from is that Cremit offers interest against deposits and fixed deposits. Each deposit made will be entitled to a Certificate of Deposit and the interest rates will depend on the term of the deposit made with Cremit.
Strong use case and growth potential
There is no denying the fact that Blockchain is the technology of the future and today, with all the combined cryptocurrencies that already have a market capitalization of more than $ 300 billion, it is an indicator of great prospects for a platform like Cremit. Cremit points to this great market that is making big leaps in terms of growth and hopes to emerge as a market leader and pioneer in the services of Crypto Insurance and Banking. There is no doubt that a large number of investors looking to obtain higher returns on their investments will also want to secure their current and potential investments. The multiple features offered on the Cremit platform will make it easier for users to exchange cryptocurrencies and even the opportunity to earn interest on their parked assets.
The team: diverse and dynamic
Cremit has a diverse and experienced team of specialists in diverse roles. The CEO of Cremit, Amit Singh, is a serial entrepreneur with new companies in several vertical markets such as Blockchain, real estate and e-commerce. He has been associated with several successful projects in the past and is also Director of Virtual Gain Technologies Pvt. Ltd while offering his services to Cremit, which claims to be the project of his dreams. Andy Watkins, technical head of Cremit is an experienced Blockchain geek. The team has dedicated specialists with relevant experience in the banking and insurance sector, including brands and development. In addition to a strong team and talented and experienced experts who lead the Cremit Project, they have been joined by some well-known names like Phillip Nunn and the famous Blockchain Geeks, Vladimir Nikitin and Nikolay Shikilev, in their advisory board. While Philip founded Blackmore Group in 2013, he is an influential online acquaintance in the blockchain and crypto space and has traveled the world evangelizing and talking about these issues. Vladimir is a world-class professional consultant with more than ten years of experience in the legal, financial, marketing, retail and IT industries and Nikolay has 20 years of experience in large-scale projects and is also the founder of the "Private Business Club "- a private club for successful entrepreneurs.
Details of Cremit ICO
Cremit's CRMT tokens are ERC 20 tokens built on the Ethereum Blockchain. The pre-ICO of Cremit is already underway and its main sale of ICO tokens is scheduled to be launched at any time between July and August 2018. The Cremit ICO is running in two parts: the ICO presale and the main sale of ICO tokens.
The pre-sale of ICO has been divided into two phases or lots in which the initial lot that has already been claimed offered the CREMIT CRMT token value of $ 0.10 in Bitcoins. In the second batch, currently in progress, you can buy 1 CRMT token for Bitcoins value of $ 0.27. One can buy CREMIT tokens only against Bitcoins since Fiat coins or other tokens are not accepted. The total number of tokens available for pre-sales ICO is 21 million CRMT.
The total number of Cremit tokens to be extracted is 210,000,000 of which 84 million CRMT tokens are available for sale to the public through its ICO. The main ICO, which is scheduled to take place between July and August 2018, is divided into three lots. The CRMT tokens available for mass sale during the main ICO can be purchased against $ 0.50, $ 0.65, $ 0.75 in Bitcoins during lot 1, lot 2 and lot 3, respectively. One can participate in his sale of ICO tokens and buy CRMT tokens from his website.
Assignment and distribution of funds
While a total of 105 million CRMT tokens are earmarked for the ICO advance sale (21 million) and ICO's main crowd sale (85 million), another 63 million CRMT tokens are reserved for sale in the future. Of the rest, 42 million Cremit tokens (of the total 210 million tokens that will be created), 21 million each are reserved for Rewards and Bonuses and the Cremit Team.
Benefits for early investors
Cremit also promises certain exclusive benefits to its first investors who will participate and buy CRMT tokens through its ICO. Those who invest in the ICO will receive a 0.5% reward on their investment for each transaction made in the Cremit Platform. In addition, those who buy tokens through ICO will be entitled to exclusive insurance plans for their assets in altcoins. In addition, 30% of the total revenues generated through the services of Cremit will be distributed among the cardholders.
Advantage:
One of its Kind - Cremit services provides banking and insurance services, which include interest against deposits in alternative currencies, which is not only the first of its kind, but is also very necessary in the cryptographic space. This will provide users with greater security while continuing to benefit from their investments.
Well-defined roadmap: Cremit has a very well defined and detailed roadmap, as they are already progressing with their pre-ICO. The conceptualization and planning are futuristic and add to the confidence of an average investor.
Defined income streams: Cremit offers insurance services and also bank services for cryptocurrencies and has simple and defined revenue streams like any other traditional banking or insurance service provider with an additional benefit for the user to perform transactions without any particular charge .
Strong and dedicated team: the Cremit team is versatile and specialized, and includes experts with specific previous experiences related to the industry. This is a positive side for those looking to invest in the project.
High-order, scalable processing speed: Cremit's CRMT tokens are scalable and the Cremit exchange is developed to process more than 200,000 orders per second, meaning an insignificant waiting time for those who make transactions through multiple cryptographic exchange of Cremit.
Immense growth potential: given the fact that Cremit is one of the services of its kind and the huge cryptocurrency market, Cremit has immense growth potential to expand and offer its services. In addition, the lack of any existing risk management mechanism in the world of encryption is definitely a great advantage with Cremit.
Concerns
Uncler Minimum Investment Amount - The minimum amount required to participate in the ICO is not specified and also one can only participate in the ICO buying CRMT currencies against Bitcoins.
Specific benefits and bonuses: the benefits for high-level investors are not particularly clear, as the white paper talks about benefits for all ICO investors.
Geographic constraints and legalities: legal requirements should also be clarified and if there are geographic restrictions for investors.
The verdict
Cryptocurrencies are the preferred investment path among young investors today. While these investments have the advantage of offering unprecedented returns, the risks involved often dilute the benefits that are obtained. Risk management and insurance is, in fact, the next step in the world of cryptography, since sooner or later it will be one of the services most sought after by those who invest or maintain assets in terms of cryptocurrencies. Cremit is going through the idea and has meticulously planned his way to become a market leader in this space. In addition, the mere idea of earning interest in cryptocurrency deposits is more than endearing. A solid team and a well-planned roadmap show the efforts made by those behind the project. Although the only currency accepted for the ICO of Cremit is Bitcoin, this can not dissuade investors from participating in the ICO. While it may be too early to jump to conclusions, there is no doubt that the ICO Cremit is one of those that stands out and is above the crowd.
Read the white paper here https://www.cremit.co/docs/Cremit-Whitepaper.pdf