Nimfamoney ICO Review
Initial Coin Offering has enabled many developers to easily raise funds for their projects. These projects touching every available aspect. They often take mainstream and already well known ideas or services and empower them with the blockchain technology. Today we will have a closer look on such project that is Nimfamoney.
If we were to briefly describe this project in two words it would be a "lending platform". That's that easy and that straigh-forward. An idea known for docades, ever since the first trades took place. Back in the day you borrowed something from someone and promised to give it back, if not they'd probably killed you. Then the banks came and bring legal means with them. You signed all the papers, they checked your background if you are able to pay it off and then officialy grant you this money. Then the Internet came and you could do the same while sitting in your house with the computer. But today, when the blockchain revolution is happening, Nimfamoney takes idea of loans even further. They want to create token which main aim is to be quickly invested in high profit projects.
Buy 1 get 3?
During the ICO phase an investor can buy NIMFA tokens. Every token allows an investor to borrow 3 other NIMFA tokens after the Initial Coin Offering phase when the platform will be fully developed. Which means that you basically triple your initial investment without any problems. The tricky part is that it is still a loan, so you don't get to cash out these tripled coins to your pocket, but they rather want you to earn money by investing these coins.
Loan for an investment
Today's market is full of new projects, especially ICO projects that get introduced to the exchanges almost everyday. There are numerous tokens and coins already listed and traded. They start with the price that is not even a full dollar, but can go up to tens or even hundreds. And that's what Nimfamoney wants you to profit from.
The general procedure would like this:
You buy these NIMFA tokens right now during the ICO phase. Every token makes you alligible to borrow three of them. You leave them some initial percentage of the borrowed amount that will act in a way as any potential collateral. You invest in the cryptomarket, other ICOs that are already starting and when they make it big (big doesn't necessarily mean big, if a coin starts with the price of $0.01 and gets ONLY to a $1 it's a growth of 100%) you wake up pretty rich quite quickly. You give back the NIMFA tokens that you had used to invest in these small ICO projects, as well as also give 10% of your profit and you are leaving the lending platform with your initial NIMFA amount and your new profit from trading.
Of course you could have invested in these other ICO projects directly instead of Nimfamoney and you would still earn quite significant profit, but keep in mind NIMFA tokens allowed you to multiply that profit three times and there were no worries or problems with the loan as they are often are in classic banks.
The future of loans
What makes this kind of platform superior to any classic and mainstream lending companies or banks is the simplicity. There are no long and suspicious papers to sign, they don't check your background, then don't even ask for your information. Everything takes place thanks to the blockchain and with the anonimity that we've got thanks to this technology. Bitcoin's success relied on the anonymous and instant payments that were possible because of the blockchain. Nimfamoney offers anonymous and instant loans.
NIMFA as holding investment
An investor that will buy these tokens will surely use them to triple his new investment, but if we take into consideration only holding the NIMFA tokens, there is still a profit to be made, as the price has the chance to constantly raise, providing the platform will be used and well prospering. As with every loan you return the initial amount of money and 10% of your profit, Nimfamoney is constantly earning more money with every loan, therefore the value of the token can raise slighlty with every succesful loan.
The team is relatively small, but managed to fill all the necessary roles. The CEO of the project has experience in managing as he has already funded succesfully few companies, so he surely knows what he's doing. There are pogrammers with the experience focused on popular programming language, as well as the blockchain technology and smart contract development. And besides the technical part, the as much important field that is marketing is also in good hands to make sure that the platform won't end up without any users.
ICO phase and the token
The sale of tokens has started on the 29th of August and will last a month. The initial price and exchange rate is set at 1 ETH to 110 NIMFA tokens. It is supported by and can be stored in normal Ethereum wallets. Especially because of the tokens aim, they will surely be listed on as many exchanges as possible.
The are no risks connected to the sole execution of the platform as they have already been testing it with some lenders and with the raised funds it will easily be finished. The only problems may araise because of the sole aspect of this project and these are the problems connected to the lending industry. They are vulnerable with losses from dishonest lenders or people that won't be able to pay back the money or invest it poorely. But there are many lending platforms that are doing well so there are ways to survive in this industry. So it's a matter of investor's choice if he believes they know how to handle the business, but the prospects are promising.
You can check out what our users think about this ICO here at TokenTops.com
You may also like
You need to login to create comments.