|Industry:||Payment / Crypto ATM|
|ICO Timeframe:||11/20/17 – 02/28/18|
Cointed is an existing company that specializes in building bridges between the cryptocurrency world and the real world through a number of different products and services. Cointed currently operates approximately 100 BTC ATMs in 4 European countries and has been operating a successful and financially viable cryptocurrency exchange for the last two years with over 15,000 users. Cointed is looking to expand into the global payments and crypto/fiat conversion market by continuing to market and grow its current services as well offering additional services that will be funded through its ICO; including an integrated online payment solution for online shopping as well as the Cointed Crypto Card, which will allow individuals to store a range of fiat and cryptocurrencies. The CTD token will not only help fund the build-out of additional services and expansion, token holders will also receive discounts on all CTD services.
PROS: Business has been in existence and is profitable since 2015, established ATM network in 4 European countries (100 ATMs), established crypto trading platform, lower fee structure compared to its competitors, payments and conversion between fiat and crypto currency is a burgeoning industry with extremely attractive growth profile
CONS: Late to the party? Not a first mover in the space; Genesis Coin currently operates 44.4% of all Bitcoin ATMs globally, Israeli based Lamassu has also been at the forefront of the BTC ATM industry, company’s viability is based on ability to maintain low cost on a user-friendly platform, to the extent fees escalate during expansion, Cointed will lose its primary competitive edge, no hardcap on ICO could lead to misappropriation of funds.