Trading in cryptocurrencies is certainly on the increase with the sheer volumes of tokens and digital assets being moved around reaching unbelievable numbers. However, there are some that belief the marketplace for the trading could be slightly easier and smoother in its operation, and considering the amount of money that can be spent in just a few seconds, then making things run as easily as possible should be a given.
This is the area where Konios is hoping to gain an advantage as they state that their aim is to make the process faster and smoother than ever before, so it’s going to be interesting to see how they plan on doing this.
What is Konios?
The intention of the team behind Konios is to help to cut through the red tape and problems that beset the financial industries around the world as they have started to creep their way into the blockchain industry. They are doing this by building a platform that they state will have an easy interface and encourage the buying and selling of cryptocurrencies. They are also planning on including the ability to cash out whenever you want rather than jumping through a series of hoops just to achieve this as exists with other options.
The company is also planning on taking things a bit further by operating what amounts to their own marketplace whereby people can post items for sale and then accept payments in the cryptocurrency. This does make it slightly different to other exchanges out there so it will be interesting to see how this part plays out as it is a unique approach.
The Technical Aspect of Konios
Konios is going to be run on the Ethereum platform and, as a result, will be using the Ethereum blockchain as well. Each transaction that is completed on the platform shall also use their Smart Contracts creating absolute transparency as well as being able to take advantage of the security aspects that come with working in tandem with Ethereum.
For those individuals that wish to sell something on the platform, then this will operate via the taking of a photograph with it then being placed on the platform. This can be accessed via mobile apps as well as laptops with the other party that is interested then completing the purchase via normal means. Once again, the purchase results in a Smart Contract being created that cannot be changed while the transparency aspect means that both sides know that the other has to complete their side of the deal for everything to then take place.
In other words, they are simply using the platform and blockchain to create a faster, more secure way to carry out transactions, but there are various other advantages that come with this approach.
The Advantages of Konios
Using the blockchain in this manner will result in faster transaction times and, more importantly, lower fees for everyone involved. Considering the way in which other payment processors can take a rather healthy amount, it does mean that Konios is not going to eat into profits allowing for fairer pricing.
Also, you are not going to be dealing with a third-party or intermediary at any point resulting in peer to peer transactions taking place. This is more stable an option and when you also incorporate the anti-fraud measures that are put into place thanks to using the Ethereum blockchain, then you can see why this would then become far more attractive.
Furthermore, they also state that they cut through borders and international boundaries as well as converting currency into a multitude of options resulting in a far more simplified approach that is beneficial for all involved.
The Financial Aspect and the ICO
Based in Switzerland does give the platform a boost since it deals with currency exchanges. For the ICO, they are looking at accepting fiat currencies as well as ETH and BTC although if you are in the United States then you will be restricted with taking part in this ICO.
There is a minimum investment level that has been put into place, but they have only set it at $10 which does make you wonder as to why they would bother with such a small amount. There is also a hard cap for the ICO, and this has been set at $29,000,000 which is still not a huge figure compared to what some other companies are seeking from this stage in their development.
With the ICO, they are releasing 75% of their total number of tokens, and this amounts to a rather staggering 3,750,000,000 tokens. Also, they state that there is an exchange rate during the ICO that has been set at 1 KON equating to $0.01 so even for your $10 minimum investment you will be able to get a healthy number of tokens.
There are bonuses in place with them starting at 35% before dropping down as more tokens are sold. However, with the numbers being so large the bonus could stay high for the majority of the ICO.
Overall Conclusion About Konios and the ICO
Here’s the thing, what Konios is offering is nothing new, so you are missing out on the unique aspect of what is on offer as that doesn’t exist. This is just another company offering the same as several others out there on the market, and the sheer number of tokens that they are putting out there in the ICO, as well as creating, will potentially work against their value.
Yes, they have a product and service that could be of use to some, and the minimum investment figure is not exactly going to be a problem either but whether or not this is enough to encourage you to go ahead and invest in this ICO is a question that only you can answer. Ultimately, this is the kind of ICO that you need to think carefully about, not because it is a scam as that’s not the case but simply because of its similarity to other opportunities that could be more attractive to investors.