Welcome back to your Crypto Speed Dating experience, where you can get to know Alt coins fast and with a simple explanation of what it does.
To Recap how this goes, the point of this little exercise is to save people getting bogged down forever reading white papers.
I will give you a quick profile on the different Alts so you can hopefully separate the wheat from the chaff quickly and only spend time researching the coins that interest you most!
I will provide my own little rating underneath but regardless of my rating I will include the link to the Alt Coins website underneath for you to check out if you want to.
The more thumbs up the more I like it (max of 5).
Ok so lets meet todays attractions:
Factom (FCT) Current Price: $26.94 USD or $34.36 AUD All Time High Price: $82.60 USD
Factom is one of the most useful Blockchain tools with enormous potential for growth.
Factom's aim is to create a Decentralised Internet to make the world’s systems honest.
They want to create a future world where fraud, corruption and forgery are a thing of the past.
Factom wants to ensure people can keep their data private and secure.
Factom will do this by securing data for private and public organisations by publishing encrypted data or a cryptographically unique fingerprint of the data to their distributed Blockchain.
Furthermore, it aims to build a system that can support high volumes of data inexpensively and it is this feature that differentiates Factom from other Blockchain projects.
In a world rife with fake news and easily modifiable computer records, Factom’s service is going to be very valuable and they have already secured big name partnerships including the consulting firm iSoftStone.
Factom has also been given $199k by the US Department of Homeland Security to advance the security of digital identity for the Internet of Things.
They have also received a $500k grant from the Bill & Melinda Gates Foundation to build a Proof of Concept prototype for a digitised medical records system for individuals living in remote or developing areas of the world.
👍👍👍👍👍 - First one I have given 5 thumbs up to so far. Hard not to be impressed by the ambition and scope of this project. When the likes of the US Dept of Homeland Security and Bill Gates are giving them money, you know they must have a lot going for them. At current price it is a great time to buy it.
https://www.factom.com/
Salt (SALT) Current Price: $3.78 USD or $4.82 AUD All Time High Price: $17.60 USD
The SALT platform is where all cryptocurrency investors and traders can go to get a loan of Fiat currency.
Unlike banks, Salt is a company that holds your Bitcoin or Alt Coins as collateral until you pay back the loan.
This means you can get money for your cryptocurrency without having to sell your favourite investment.
SALT have also simplified the application process by focusing on the value of the borrower’s Crypto instead of their credit score. So bad credit means nothing to Salt as the only thing that matters is the amount of cryptocurrency you are putting up as collateral.
SALT then keeps your Crypto collateral assets safe in a fully-audited, ultra-secure architecture during the life of the loan, so members can borrow with confidence.
SALT is the only platform that is designed to facilitate loans on the Blockchain.
This is crucial because derivatives, deeds, diamonds and more are slowly heading to the Blockchain.
One last benefit of using SALT is the avoidance of having to pay capital gains taxes which can be harsh, especially in the USA. By using SALT, you completely bypass the need for paying taxes as you are taking out a loan – not converting cryptocurrency to fiat.
👍👍👍👍 - Terrific idea and one that will be very popular. A lot of investors see Crypto as a long term HODL that could pay off huge in the years to come. These investors would be loathe to give up any of it but will no doubt have times in their life where they need a cash injection. Salt is going to be very useful in this space.
https://www.saltlending.com/
Substratum (SUB) Current Price: 49c USD or 63c AUD All Time High Price: $3.02 USD
The Substratum Network will bring the decentralised web worldwide without the need for special software.
Right now the Internet is highly centralised and under the thumb of governments and corporations.
USA Today cited the research firm Forrester as saying that Amazon alone controls 42 percent of the cloud market by revenue.
The current state of the Internet is ripe for reform.
Countries like China, North Korea, Vietnam to name a few are behind great firewalls and subject to immense censorship.
We also have mega corporations that control Internet traffic, intelligence agencies that snoop and pry on people’s private data, the list goes on.
A decentralised Internet will bring change and a whole new scenario.
A lot of Tech sources are also of the opinion Decentralised internet is the future and Substratum claim that they can ‘revolutionise’ the internet using Blockchain technology & artificial intelligence.
In a Substratum spokesperson's owns words, they said “Yes, that is the purpose, we will bring the entire world the free and secure Internet.”
Substratum will make their profit from Businesses' or Entities that wish to host sites, databases and applications on the Substratum Network.
They will use SUB coin to pay the Network Members through a series of microtransactions for the requests that those members serve up.
This will essentially mean SUB becomes the currency of the decentralised web.
Substratum says “Through all these microtransactions there will be very small fees that will accumulate value to the Substratum Coin and add equity to investors portfolios as they trade on the major exchanges.”
👍👍👍👍 - Another coin with a lofty ambition that you can't help but be a little impressed with. The Decentralised Internet is coming no doubt but how big a role Substratum end up playing, who knows. Investing in these companies that are trying to revolutionise the web is good practise in my opinion because some of them will BOOM.
https://substratum.net/
UTrust (UTK) Current Price: 21c USD or 27c AUD All Time High Price: $1.40 USD
Utrust aim to provide a secure cryptocurrency payment platform by bringing the benefits of payment services like what Paypal offer to the Blockchain.
As the name indicates it aims to be the safest Crypto payment platform in the world.
Using services like Paypal has high fees due to exchange rates and can be slow.
Utrust will allow buyers to send funds to a seller anywhere in the world safely and for a low fee (%1).
Buyer converts currency to UTrust coin. Utrust Coin then goes anywhere in the world to seller. Seller then converts Utrust coin back to their own currency.
Basically UTrust will be able to do what PayPal does a whole lot better and cheaper using the Blockchain.
👍👍👍👍 - This is another project I really like although I do hold reservations. Their roadmap shows Q4 2018 as their plan for when 200+ Merchants will come on board and live transactions begin. That's exciting and all, but still a long wait to see how the product performs in the real world and that's a lot of time for competitors to emerge.
I worry Paypal themselves will recognise the opportunity the Blockchain provides for their Business and look to dominate this space with their brand recognition.
However they like a lot of other Institutional Investors will likely wait until stronger regulations are in place. so it could give a project like UTrust the opportunity to grab a foothold in the Blockchain space.
The coins are very cheap right now, so do not come with a huge amount of risk plus it only has a circulating supply of 204 million, with a max total supply of 500 million.
UTrust appeal to me as a decent Alt Coin to gamble on.
https://utrust.io/
I hope you enjoyed my Part 4 and found some Alt Coins that catch your eye.
If not don't worry, there is an Alt Coin for everyone out there!
I will be back with Part 5 soon
Thanks for reading
- Dahmsy