The following is not financial advice.
Welcome to back The Scoop!
This is the next post at a place where we share analysis and opinions for interesting coins, tokens and pure gems in the vast landscape of the blockchain world. There's so many coins out there, but not a lot of free information (looking at you, paid groups) and analysis on them. The Scoop aims to change that by sharing and improving the data available for a given coin by focusing on evaluating instead of predicting.
What is StealthCoin?
It's a privacy coin that's switched to POS for energy efficiency, TOR integration and a tiny premine. It's also one of the supported coins on Ledger Nano S and Ledger Blue hardware wallets, making storing the coins safer and easier for users.
Slack:
https://stealthcoin.herokuapp.com
How to use with Ledger:
https://support.ledgerwallet.com/hc/en-us/articles/115003503733-How-to-install-and-use-Stealthcoin
Quick Technicals
Algo: X13 POW/POS
Block time: 60 seconds
Block reward: 16 XST
POS Award: 20% annually
Where's the wallet?
https://github.com/StealthSend/Stealth/releases
Whitepaper (broken link for now):
https://dl.dropboxusercontent.com/u/9200425/xst/Stealthsend_Whitepaper_brief0914.pdf
How many of them are they?
CMC says ~27m circulating supply.
Who's the team?
We haven't seen open profiles on the team.. maybe they are stealth? :-)
BCT profile on StealthDevs:
https://bitcointalk.org/index.php?action=profile;u=347346
Bitcointalk thread for more info:
https://bitcointalk.org/index.php?topic=836009.0
What motivates them?
1% premine, so quiet fair.
Marketcap and Competitors?
~14m cap with ~50k volume, so quite a bit of potential here.
Similar projects or target industry...
- PIVX ($PIVX) -> ~430m
- NavCoin ($NAV) -> ~139m
- Zoin ($ZOI) -> ~22m
How is XST different?
Privacy coins are hot right now and likely into the future due to their native utility. Also, being listed on Bittrex gives it access to a greater pool of investors than many other of the same type of coins.
Pros
- privacy coin
- nice wallet
- active dev
- very low premine
- ledger support
- blocknet support
Cons
- competition
- low volume
Check out their website for more info:
https://www.stealthcoin.com
Any constructive criticism?
More marketing, contests, giveaways, weekly updates, etc could lead to more volume. Seems like the team has a quite a small budget as of now and keeping up the Christmas momentum that was created in the market would be helpful for growth.
Also, more transparency on the team, whitepaper/technical docs and a detailed roadmap would be fantastic for the community.
Where is it traded?
Bittrex claims most of the volume for Stealthcoin, but it's also listed on Cryptopia.
https://coinmarketcap.com/currencies/stealthcoin/#markets
The Final
Based on the FA, XST looks like a low to medium risk with high reward potential if they continue to deliver and catch on. Picking it up under 5k sats would be bargain or around a $1 would be an upper entry while still expecting solid, crypto-style gains.
And that's your scoop!
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https://www.investfeed.com/thescoop