CryptoPing is an altcoin intelligence bot that just announced its ICO. Find out everything you need to know about CryptoPing and the benefits of their new tokens today in our review.
What is CryptoPing?
CryptoPing, found online at CryptoPing.tech, is an altcoin intelligence service that helps traders maximize the value of their trades. CryptoPing promises to spot pumps and alert you before values drop. It monitors major exchanges like Poloniex and Bittrex. In exchange for a monthly subscription fee of 0.01 BTC, you get altcoin signals from major exchanges.
This past week, CryptoPing announced its upcoming initial coin offering (ICO). The ICO will begin on May 25, 2017 at 12am CET and continue until June 25.
The ICO, like many other ICOs, is being used to fund further CryptoPing project development. The tokens can be used to pay for your CryptoPing subscription fee. If you pay using CryptoPing tokens, you get a 25% discount off the normal BTC price.
Right now, CryptoPing is free to try. Once the service goes public (which will happen a few days after the end of the ICO on June 25), then the subscription fee system will take effect.
How Does CryptoPing Work?
CryptoPing is an alternative cryptocurrency (altcoin) intelligence bot that constantly monitors altcoin markets. The bot generates trading signals and notifies subscribers via Telegram.
The project entered public beta-testing in March 2017. At the time, approximately 700 users had signed up for the beta.
The developers behind CryptoPing have a more ambitious goal, however: their goal is to create a platform where experienced traders can share nuanced trading signals publicly or anonymously, then create a learning environment for their followers.
Using this platform, you can reach developers easily, keep active chats, and share details about the project.
The platform will be available within a few days of the completion of the ICO. That’s unlike most other ICOs we’ve seen, where the final product isn’t unveiled until months or years after the ICO is complete. CryptoPing also has a working beta.
Who’s Behind CryptoPing?
CryptoPing was launched by a group of successful cryptocurrency traders with 5+ years of experience. Those traders have chosen to remain anonymous, and there’s no additional information about the team.
How Does the ICO Work?
CryptoPing’s ICO will see the release of 9,000,000 tokens based on the Waves platform. These tokens are worth a total of 1000 BTC. An additional 1,000,000 tokens are reserved for the one-level 10% referral program.
Investors who invest more than 100BTC will receive a 15% discount on tokens. Any tokens that aren’t sold after the crowdsale will be burned.
How What Can You Use CryptoPing Tokens For?
CryptoPing tokens will be used to access CryptoPing’s services. At launch, it will be the only way you can access the company’s services. However, payments via Bitcoin and altcoins will be available in the future.
CryptoPing plans to add its tokens to several exchanges. The company believes that the value of the tokens will constantly increase due to limited supply and the expanding user base. One of the key goals of the development team is to make sure the token price remains high. One way they’re doing that is by burning 75% of subscription fees paid in tokens. And, if a subscription fee is paid in Bitcoin or altcoins, then 50% of the subscription fees will be directed to buy tokens back off exchanges and burn them as well.
A CryptoPing monthly subscription fee is currently 0.01BTC or its equivalent in tokens and altcoins.
If you pay for your subscription with tokens, you get a 25% discount on your fees.
A public log of subscription transactions, buybacks, and burned tokens is available to every investor to ensure operational transparency.
CryptoPing Features and Benefits
Why should you consider a CryptoPing subscription? Here are some of the key features and benefits of CryptoPing:
- Works with major exchanges, including Poloniex, Bittrex, and Cryptopia, with more exchanges being added after the public release
- Signals are sent for all cryptocurrencies so not a single profitable trade will be missed
- Free to try; you can try the bot for free today, and subscriptions will be introduced with the public release
- Fire and forget; you just launch CryptoPing and start to receive signals immediately
Should You Use CryptoPing?
CryptoPing is a subscription-based service currently in beta. The service tracks altcoin signals on major exchanges – including Poloniex and Bittrex. During the CryptoPing ICO, you’ll be able to buy tokens that you can use for your CryptoPing subscription. A limited supply of tokens and a growing number of CryptoPing users will ensure that the value of the currency is constantly rising.
Unlike other recent ICOs, CryptoPing’s ICO will be followed almost immediately by the release of the product. The platform already has a working beta. You can access that beta for free today. Once the platform goes public, the subscription fees will kick into effect.
Ultimately, CryptoPing isn’t a silver bullet. It’s also not a trading bot. It’s just a source of information you can use to keep track of signals. It’s priced at 0.01 BTC per month, although you can receive a 25% discount if you use CryptoPing tokens.