Hi Folks,
Me Again. We have seen from my last 2 posts I have started my Crypto Journey on Coinspot in Australia and invested a small amount in Stellar which I hope to increase when the price is right to do so. Now I just wanted to touch on my second small investment Safex.
As with Stellar I was looking for a Crypto in the lower price range when I seen Safex on Coinspot. It was sitting at the bottom of the list of available crypto via coinspot and $0.012 AUD in the price range I was looking for. As per my previous post I had a quick look at the charts and noticed this coin had an all time high of around $0.03 AUD and the break even point seemed to be in the $0.012 AUD range so perfect for purchase.
Safex as the name suggests is very big on security and privacy. The platform is designed to create a marketplace to compete in the e-commerce space with emphasis on an efficient, low cost, safe and secure way to exchange goods and services. Their website and wallet look professional and the website is soon to undertake a facelift. I personally like the concept and the potential for real world application.
I must admit there were some hesitations to begin with. Firstly they have a small development team and have been treading water so to speak in the market for sometime. There have also been some missed deadlines in regards to their development thus far which is not ideal but I will touch on this a little later.
Despite the above I must admit that from what I could see the development team seem quite dedicated to the task and I was really impressed by the Dan Dabek who leads the project. There were plenty of you tube videos available to see Dan talk about the project and his passion and dedication seems obvious. I believe the development team to be quite invested in the project for the long run and they actively make themselves available on various forums etc. I suggest you watch some of these videos and check the forums for yourself.
Safex is also looking to differentiate itself from the traditional type of blockchain and looking to offer a point of difference to other coins available. Here is where things could get interesting. They are looking to run a separate blockchain which is currently in development and known as Chille. Chille will run separate to the Safex blockchain and act as the currency used to trade in the marketplace. The small fee’s associated to using this marketplace will be paid as dividends in Chille to Safex holders. This appears to be quite similar in how NEO holders receive dividends in GAS as an example. Safex holders will also have voting rights in regards to any changes in development etc which is pretty cool if you are keen on the technical side of things.
There appears to be a reasonably active Safex community on reddit and the Safex forum which is a positive with most users appearing to be Hodler’s. There are good things coming up in the next 6 months in regards to development and improvement’s as well as the imminent release of the Chille Whitepaper which could have an impact on price as well. I will be trying to increase my Safex Holdings as time goes on in the hope of accruing a substantial amount assisting in the earning of Chille. I feel this Crypto could be a diamond in the rough so may be worth taking a closer look at this!
At time of writing Safex has gone above $0.017 which is approx. a 30% increase on my investment over 2 weeks. As mentioned in my earlier post the market is seeing a lot of movement at the moment so look into this carefully before buying and as always GOOD LUCK!
https://www.coinspot.com.au?affiliate=NHEHW
https://www.reddit.com/r/safex/
https://safex.io/
https://safe.exchange/
Also any upvotes, resteem or comments are very much appreciated and definitely welcomed
N.B – Any opinion or view in this article is expressly my own. I have no formal qualifications in regard to Journalism, investing or programming. I am not a representative of any company mentioned in this article and it has been written to aid you in starting your Crypto journey as well as the hope of assisting myself in gaining additional affiliates through the Coinspot exchange.
