Fast Invest – FIT ICO Digital Cryptocurrency Banking Blockchain?
Fast Invest is an in-development crypto wealth management platform that will combine a digital wallet, a cryptocurrency exchange, crypto lending and investing, and a premium payment card. In order to facilitate development of the platform, Fast Invest is holding an ICO to crowdfund the needed capital and is selling its own proprietary cryptocurrency, FIT tokens.
What Is Fast Invest?
Fast Invest began its life in 2015 as an investment platform where investors could fund consumer loans in a peer-to-peer format, receiving ROI on those loans when they were repaid by borrowers.
The Fast Invest team includes CEO Simona Vaitkune and President and Chairman Genadij Anthony Fomki. Of the two, only Vaitkune has any discernible online footprint, with her LinkedIn page revealing her employment history as being involved in financial lending headquartered in Poland and Lithuania.
The rest of the Fast Invest team is listed, but only by first name. A handful of these individuals may also have a LinkedIn profile link; judging by those that do – and by Vaitkune’s own profile – the company is primarily sourced from individuals from Lithuania or Poland, though the company itself has a UK address.
In addition to the UK office, Fast Invest also has listed addresses in Italy and in Poland.
Fast Invest Product
Right now, Fast Invest plans to release an all-in-one cryptocurrency platform that will provide wallet services, a currency exchange, investment opportunities, and other perks. However, this is all currently in development, with the FIT token ICO necessary to crowdfund the company’s plans.
As the core product for Fast Invest is not yet available, the FIT token ICO is the only product that is currently available from the company. As an Ethereum-based ECR20 coin, the FIT token is only purchasable with Ethereum; spending 1 ETH grants 1200 FIT. This price remains in effect until 38,850,000 FIT are sold; after this threshold, only 1000 FIT can be purchased per 1 ETH.
According to the white paper, Fast Invest’s crypto platform will require members to hold at least 1000 FIT to gain access to all aspects at no additional cost of it once it goes live. There’s no information concerning if individuals who don’t have at least 1000 FIT will be completely unable to use the platform, or if they will have to pay for its services on an individual basis.
Fast Invest Opportunity
Fast Invest offers a few opportunities to investors interested in its FIT token ICO. First and foremost is the ability to access the company’s crypto platform when it is finished being developed, as this will enable members who have at least 1000 FIT to use Fast Invest as an investment platform or to use any of the other still in-development tools coming to the platform.
Secondly, Fast Invest plans to encourage FIT tokens to be traded on public exchanges, which means that investors can hold these tokens as a speculative investment in the hopes that the valuation will rise.
Fast Invest Verdict
Fast Invest seems to have some serious opportunities for crypto investors. The ability to access an all-in-one crypto platform provides some avenues to grow individual crypto assets, especially with Fast Invest’s plans to institute peer-to-peer crypto lending in addition to its current fiat currency consumer lending business. This certainly differentiates Fast Invest from other ICOs.
That being said, we’re not sure if Fast Invest as a company is experienced enough to be trusted to handle the development and implementation of its plans. Prior to its crypto platform project, the company was limited to working exclusively in eastern European financial lending markets; now that it’s going worldwide, it could be biting off more than it could chew.
We can’t see the future, but we’d like to think that Fast Invest will have some middling to moderate success in its ICO. We’re not confident that it’s going to grow as big as major players like Coinbase, but it might be interesting to see how things develop.