CoinCrowd review

The goal of Coincrowd is to provide a platform for start-ups and other companies to launch their own crowdfunding ICOs. Coincrowd will provide both legal and technological guarantees to investors, and projects will be chosen by a community voting system.

This platform aims to bring the benefits of ICO fundraising to start-ups and companies both from within the blockchain world and those outside of it.

Coincrowd’s own ICO will provide investors with the opportunity to purchase XCC tokens. As a Coincrowd XCC tokenholder, the investor will get voting rights on proposed projects as well as milestone voting rights. Furthermore, XCC tokenholders have first refusal on investment opportunities of any new and exciting projects and a share of the ‘success fee’ charged (to a start-up) for hosting an ICO on the Coincrowd platform.

Features

The step-by-step process of how Coincrowd and its platform works is as follows:

  1. A start-up will upload its project to the Coincrowd platform.
  2. The project is then assessed and voted on by the community. If the vote is successful – the start-up can proceed with an ICO.
  3. XCC tokenholders will have first opportunity on the investment as it is them who are voting previously.
  4. Prior to the ICO, a minimum budget (soft cap) is established. If the ICO does not meet this target, all funds invested are automatically returned immediately.
  5. A success fee of 5% (the value of funds raised through the ICO) is charged by Coincrowd for projects which met their ICO target and milestones.

Coincrowd sees this project as being beneficial for start-ups and investors:

For start-ups, Coincrowd provides a fast and easy method of fundraising. It simplifies the bureaucratic process and offers legal support through a paid service with KPMG. There is a support network in place consisting of community members who have previously launched successful ICOs.

Additionally, there are no barriers for entry, although a small fee is required to submit a project to prevent spam attacks on the system. Plus it gives the start-up access to cryptocurrency markets which they might not have had before.

From the investors perspective, Coincrowd offers an easy way to sell and transfer investments. They have control over which projects get approved and milestone-based targets. It allows them the opportunity to invest in the ‘next big thing’ before anyone else, while keeping brokerage fees to a minimum and also providing full legal guarantees.

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