Everex is a Singapore incorporated company looking to help the unbanked. Currently, they are doing micro transfers between Myanmar and Thailand. They recently completed their Initial Coin Offering (ICO) back in September of 2017.
Why do I feel that Everex is a good investment choice?
Everex is aiming at helping migrant workers. They have completed a test pilot of helping migrant workers transfer $850,000 THB back in 2016. There are currently many unbanked people in the world, and if Everex goes mainstream, they will take in a lot of revenue. Furthermore, they are using a part of their profits to perform buy back of Everex tokens.
Who are Everex's competitors?
Currently, the main competitor is OmiseGo (OMG). However, Everex has many advantages over OMG. They are one of the first companies to start using the Ethereum Blockchain, and they helped create the popular website "Ethplorer.io".
Furthermore, they are B2B2C whereas OmiseGo is B2B only. Everex also provides Lending and credit scoring to clients, which OmiseGo does not have.
What are the challenges that Everex faces?
Since they are doing transfers across different borders, the exchange rates of different currency may fluctuate. However, Everex has come up with CryptoCash, which is a stable currency and pegged to Thai Baht. Currently, they are based in Singapore, and doing transfers between Myanmar and Thailand. If they were to branch out, there might be policies that affect the way they operate.
The future price prediction of Everex.
Currently, I feel that Everex is undervalued. Everex's market cap is currently less than $30M, whereas OmiseGo (Evx's biggest competitor) has a cap of $800M. Given that Everex has more functions than OMG, and is still new in the market, I believe there is a lot of room for growth for Everex. I'm expecting a minimum of 3-4x in the next 3 months, and more once Everex perform their first Share Buyback.