Coinvest aims to be the world’s first decentralized stock market for cryptocurrencies. Find out how it works today in our review.
What is Coinvest?
Coinvest, found online at Coinve.st, lets you invest in multiple cryptocurrencies and index funds with one account, one wallet, and one COIN. It’s the world’s first decentralized stock market for cryptocurrencies.
The project is being led by ex-Microsoft employees. Coinvest announced its upcoming ICO on November 10. They’re seeking to raise $30 million in COIN tokens to fund development of the platform. The ICO begins on December 11.
Using Coinvest, anyone can virtually invest in individual crypto-assets – or a curated index of crypto-assets – through a single coin. Coinvest also has a number of specific advantages over other cryptocurrencies index funds and exchanges – like no third party or human interaction and no KYC / AML verification required. Coinvest also has short selling and other nifty features.
How Does Coinvest Work?
Overall, Coinvest represents a new method of investing in crypto assets virtually. Users can virtually invest in crypto assets without the need for an exchange, multiple wallets, or a centralized third party.
Here’s the basic process by which Coinvest works:
- Step 1) Create a Coinvest virtual portfolio with your favorite cryptocurrencies
- Step 2) Trade and withdraw investments directly with a smart contract.
- Step 3) Spend COIN using your debit card account
You access the platform through your Coinvest app, which acts as your brokerage account, a wallet, and a debit account rolled into one convenient platform.
You can participate in the index funds created by other users. Or, you can create your own index fund, then earn rewards when other users track your fund.
You initiate a buy or short order through the Coinvest app for individual assets. Or, you can create your own custom index fund. The Coinvest app will approve and execute the trade (after checking your account to ensure there are sufficient funds). Then, the Coinvest app sends COIN tokens to the smart contract to purchase the assets or fund. The smart contract receives the funds, records the investment agreement to the blockchain, and holds funds in escrow. The Coinvest app updates the user’s portfolio holdings and balances.
Coinvest advertises all of the following features:
- No third party or human interaction
- No KYC/AML verification
- Cryptocurrency storage
- Short selling
- Limit orders
- Index funds, including personally curated index funds
- Full autonomous
- Options, margin, and futures trading (planned for future development)
- Debit card account (planned for future development)
Many of these features are designed specifically to differentiate Coinvest from other options on the market today – like cryptocurrency investment funds or exchanges. The company doesn’t accept fiat currency – unlike exchanges – for example, and doesn’t require KYC/AML verification (something that all exchanges require). It also works in a fully autonomous, decentralized, non-custodial way.
Benefits of Coinvest
Some of the specific advertised benefits of the Coinvest platform include:
- Trading Rewards: Accumulate COIN rewards with every trade on the Coinvest platform.
- Super Trader: Make profit from trades in your virtual investment portfolio.
- Index Fund Management: Collect 50% trading fee revenue from users that invest in your personal index fund.
- Value Appreciation: Platform adoption, transaction volume, and buybacks increase the value of COIN tokens over time.
The Coinvest Crowdsale
Coinvest is selling COIN tokens through a crowdsale. The crowdsale begins with a pre-sale on December 11, 2017.
There’s a total supply of 60 million COIN tokens. The price is set at a base rate of 1 ETH = 300 COIN.
The pre-sale is capped at 1.2 million tokens, with a pre-sale bonus of 50% available to investors. The overall crowdsale is capped at 30 million tokens.
Of the total supply, 50% is set for the crowdsale, 30% is set for the COIN reserve (held in a smart contract), 10% for employees and advisors, 7% for ecosystem development and partnerships, and 3% for presale reserves and bonuses.
Who’s Behind Coinvest?
Coinvest is a Dallas, Texas-based startup led by former Microsoft employees. The company was founded in summer 2017 with the goal of creating the world’s first decentralized stock market.
Key members of the team include Damon Nam (Founder and Executive), Byron Levels (Technology Director), and Taylor Rieckens (Business Development Director).
Prior to founding Coinvest, Damon Nam spent 16+ years at Microsoft as an IT services professional, assuming three different management roles within the organization.
To bring the project to life, Coinvest has partnered with Civic, Oraclize, and Crypto Compare
In terms of a roadmap, the company conducted its initial market research and analysis in summer 2017. A public release is expected in 2018, along with mobile platform support, debit accounts, and Coinvest wallet APIs.
Coinvest is a unique cryptocurrency investment platform that lets investors virtually invest in crypto assets through the use of COIN tokens. Instead of managing individual wallets and accounts, users can participate in market-wide activity with a single convenient token.
The platform is currently in development, with a full public launch expected in 2018. The Coinvest token sale for COIN tokens is taking place throughout December 2017.
To learn more about Coinvest, visit the platform online today at Coinve.st.