Welltrado is a blockchain-based loans marketplace, still in development, that claims it will provide an ROI of 35% on cryptocurrency invested in its yet-to-be-designed lending system. In order to crowdfund Welltrado as a platform, the company behind it has scheduled an ICO for its Welltrado Token (WTL).
The Welltrado Team & Company
Welltrado lists five separate co-founders of its company. These are CEO Tomas Medeckis, CDO Kim Nielsen, CTO Zygimantas Stancelis, CBDO Arturas Svirskis, and BDO Povilas Urbonas. As a rule the team seems to inhabit northern and eastern Europe in countries such as Denmark and Lithuania. The location of the company itself, is listed as Vilnius, the capital of Lithuania.
The Welltrado Project
Welltrado developers claim that much of the infrastructure for the peer-to-peer lending project has been completed. The core functionality is the ability for investors to buy and sell loans from thousands of different loan providers around the world; for now, Welltrado says it has implemented this function across Europe.
Welltrado claims that its project is one that provides tools for investors to select both the best and the safest investments. To that end, it doesn’t work with loan originators or borrowers directly – instead it acts as an aggregator for existing European P2P lending platforms. Welltrado’s intent is to also act as an information gateway for investors in finding good investment opportunities.
As Welltrado is an active platform that’s based on blockchain technology, the company is pushing forward with its ICO to provide the requisite funding to expand their reach past Europe and into the global marketplace.
Welltrado ICO (WTL Coin) Token Details
The WTL Token, an Ethereum-based ERC20 cryptotoken, will begin its crowdsale on April 9, 2018. The ICO will run until June 4. The base price for the token is 1,000 WTL for 1 ETH. However, early investors will be able to receive bonus WTL for participating in the crowdsale in the earlier weeks of the ICO. This bonus starts at 20% during the first week and slowly reduces until May 21, when it disappears altogether.
There are no minimum purchases for the crowdsale. However, be aware that Ether is the only cryptocurrency accepted due to WTL being an ERC20 token. Unsold tokens left over at the end of the ICO will be burned. There will be 65 million tokens available in total.
WTL Token holders will be able to use these tokens within the Welltrado platform. These tokens will provide discounted rates for Welltrado services. The exact discount percentage has not been revealed at this time. However, one example given is that WTL tokens will be able to be used to pay for a Welltrado member’s monthly membership.
Verdict = Is Welltrado ICO (WTL Coin) A Worthy Investment?
Welltrado is a special case when it comes to ICO investment opportunities. With the majority of crowdsale ICOs, these companies have little to nothing to show for their business project — simply a white paper and a flashy website. Yet with Welltrado, we have a very different case, as the company has been up and running since 2016. This scores some serious points in its favor as far as positioning Welltrado as a good investment risk.
The fact that Welltrado doesn’t provide loans directly but acts as an aggregator means there’s also a level of insulation between it and investors. Without taking investor money directly, Welltrado also positions itself as much more trustworthy than most ICOs that simply expect its investors to trust in them implicitly.
Unfortunately, there are a few spanners in the works. Participation in Welltrado’s ICO is region-locked in that individuals from certain geographic locations are not permitted to invest. These locations include the United States of America, China, Hong Kong, Singapore, and South Korea, as these jurisdictions have the most heavy-handed regulations when it comes to using cryptocurrency as a securities investment.
Of course, this may change in the future, especially since the global legal landscape regarding cryptocurrencies changes all the time.