Crestonium ICO review - cryptocurrency bank with 0% fees on transactions - CryptoArenaReviews

joi, 22 februarie 2018

Crestonium ICO review - cryptocurrency bank with 0% fees on transactions

Crestonium ICO

UPDATE 04/10/2018 - Turns out that Crestonium is a SCAM.

When I wrote the article I pointed out that there is no transparency from the team, no public appearance. I wrote multiple time on bitcointalk, telegram group and even on twitter about this. Even wrote to the so called team directly.

Here is the ANN thread on bitcointalk where the Bounty Manager announced that this is a scam:

This goes to show, that no matter the whitepaper of an ICO, the project needs to be transparent overall. And the team not showing their faces means a big NO for investing anything in that project.
Another signal that this project was fishy is the lack of technical details of how they will achieve their goals.

This is the first review that I write where I feel something is fishy with the team but I don't call them out aggressively. Somehow I hoped they will eventually get in front of the cameras.

I will leave bellow the original post. I only removed their links. Let this be a lesson for us all.

We leave in the times of ICOs. Most of this market is hyped and only few of these projects are looking to offer value. It is enough to look at numbers. Over 1500 altcoins available. How many have made a difference? Only a few.

The idea of a decentralized system through blockchain remains a beautiful idea. The reality is that almost everyone involved in crypto world is using it only as an investment.

One of the problems for mass adoption is that it is not that easy to make transactions with cryptocurrencies. There are fees involved and sometimes transactions can take days. Also, for the average person setting up an wallet is not that intuitive. And last, but most important from my point of view, there are still very few places where you can spend it.

Here is where Crestonium is trying to make a difference. They want to become a platform both for storing all cryptocurrencies and for sending/receiving currency at zero (0) costs.

The problems that Crestonium want to address are critical for blockchain mass adoption. Just like Cardstack is bringing together both classic apps and the emerging (d)apps accessible from one interface, so that the average user can benefit both existing and new blockchain technology, Crestonium will bring value making cryptocurrencies what they are meant to be: currencies.

With this projects applied with success I think we can all see what will happen with The big dream of a decentralized system. Surely there are more things that needs to be addressed when it comes to cryptocurrencies. From solutions to better protect the user, to avoid criminal activity under the umbrella of cryptos and even tax regulations.

Lets talk about the 2 main unique selling points.

1. Zero (0)% fees on all transactions.
Having the ability to store different cryptocurrencies with Crestonium, spending them directly, with 0 fees and without the need to convert the cryptos beforehand is unique. This alone can accelerate mass adoption and the use of cryptos as payment.

2. Refund of bought CXS (Crestonium cryptocurrency) during ICO if CXS doesn't increase by 150% in 6 months.
I think that this is a bold move. Great for marketing perspective, but I am not sure if it is a good move, since most cryptocurrencies suffered when bitcoin crashed. So in case bitcoin goes on another massive dip and takes with him all the altcoin to its roller-coaster if won't be nice.

However the team seems determined to go with this. I talked on telegram and asked them about this. It seems they are working on smart contract to cover this guarantee. So, in case that after 6 months the minimum 150% increase doesn't take place you can ask for a refund.

The idea that they want to transmit is that they believe in their project. And although they don't guarantee an investment return they guarantee the refund policy.

What I don't like is that there is not much details about the team. There are only a couple of members with linkedin profiles. 1 g plus and 1 facebook freshly made. I will update the article with the hope that they will release more about their team.