Today we are going to review a new cryptocurrency that appeared on the market called Consentium. Have you ever heard of it? Know everything about Consentium by reading our review.
What is Consentium & The CSM Cryptocurrency?
Consentium is a digital currency and a group monetization chat app which constitute together a platform aimed at communities. Consentium works using a C2C (consumer-to-consumer) network service of transfers and a chat community which utilizes a monetization model.
The program will use a transactional fee redistribution program which will work as an incentive in the creation and the cultivation of strong communities on the app. The goal of the company is to manage to transcend chat apps and develop a sustainable app which will be used to host businesses and real-world communities.
Basically, Consentium wants to become the go-to platform in which all types of businesses will be able to rely on. The company intends to be one of the main platforms for communities in the market in the near future.
The founders of Consentium are Hale Bame and Chris Low, both with more than a decade of experience in this industry and founders of many other companies.
How Does Consentium Work?
Consentium uses high level chat encryption by using the SHA-256 algorithm, which enables top level security. This is required because people want their conversations to be private and they do not want to have other people hacking it, so it is more and more needed to add these measures to any social network which is chat-based.
The company also intends to have low fees and a secure C2C transfer model which will protect the consumers and be decentralized while maintaining its market value. The company intends to create a platform in which you will be able to convert fiat currency to BTC, ETH and to Consentium tokens and to offer a multi-currency cryptocurrency wallet option for its clients.
Another important point of the company will be the utilization of a Chat Community Monetization Model (CCM) and an engine which will automatically make this monetization of chats possible. Basically, 1% of every transaction will go to a pool and this money will be distributed later for creators which are working on the platform.
Consentium will have features like an incentive for users to which want to build groups with over a thousand people, an easy process for businesses which want to use the chat to communicate with their customers and cryptocurrency discussion groups.
The reward system will be based on the creation of quality groups which will be based on some important metrics like the size of the groups and the reputation of the users. The reputation system will go from 1 to 10 based on the number and total size of transactions that the users made in the last 30 days. This is made to ensure that only active users will have reputation points.
The quality of the group will be based on the total numbers of users on a certain group with more than 5 reputation points. A group with a few trustworthy individuals will have more value than a group with a large number or untrusted ones.
How to Invest in Consentium ICO?
Are you interested in investing in Consentium ICO for the CSM token? Investing in this company can be a good idea if you are planning to use this platform in the future. The best way to invest would be to use the Initial Coin Offering (ICO) of the company, which has already begun and it is in its private sale, which will last until March 14. The pre-sale will happen during a single day on March 15 and the public sale will come later.
The public sale of the Consentium tokens will span from March 16 to March 22. The sooner you buy the tokens, the better it will be their price. For more information about their price, consult the company directly.
The Consentium Verdict
Is Consentium a good investment? Yes, this company looks like it could be a great investment for you if you want to invest in a company which looks like it can be very profitable and that is run by people who have experience in the market and know a lot about how to create a successful company.
If you are interested in investing, you should do it soon because it would be a better idea to invest in this company before the end of the private sale, as the price of tokens will be a lot cheaper during this phase of the ICO and this would bring a better return on investment if you decided to sell the tokens later for a higher price.
The choice is yours. If you liked the company, we see no reasons why not investing in it. On the other hand, if you did not like it, you can always look for another company instead of Consentium. Good luck while investing.