Safein ICO Review - Next Big Online Wallet or Too Much Competition?

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Today I want to talk about the new Safein ICO.

The cryptocurrency is slowly growing and getting more investors. That doesn’t mean you should just throw money at ICOs without doing your research.

So lets take a look at the new Safein ICO shall we?

Safein – ICO Review

So Safein is a wallet that lets you sign in to any website without registration. Sound familar?

Users verify that online identity and make instant payments while setting parameters on who can access their personal data.

Safein hard carp is set at 40 thousand Ethereum. It’s going to have a 1 billion token supply.

They will be selling 2.5% in Pre Sale and 30% in crowdsale. They will give 10% to the team with some soft of a tiered bonus structure. I would suggest doing your own research on these numbers because I have seen them change in other ICOs.

I have reviewed many ICOs in the past that were very similar to this Safein ICO.

Safein – The Good

If we look at the positives we can see that Safein has an excellent website with a great design. Looks to have lots of percieved value.

I wouldn’t suggest judging any ICO by how their website looks. People do ‘judge books by their cover’ same applies online for many.

If you plan on investing in Safein I would suggest doing some research. However I’m sure many will buy into this ICO because the website is very nice. Bad move.

Also I do believe Safein is having some sort of airdrop so give that a check.

Safein – The Bad

What are some of the negatives? Well we can see that the Safein team have the knowledge and capacity to work in this space. However they do lack in experience and for that I cannot categorize them as being All Stars.

Another thing to be aware of. Centralized data bases like Alibaba, Google or Amazon as examples. They have access points on portals linked to applications that already establish your actions and online footprint.

Safein is also looking to disrupt a market that has a plethora of competitors both in and outside of the blockchain focusing on ID verification and payment services.

You’ve got Paypal, Strype, Google Wallet, Apple Pay and the list goes on.

Safein – My Conclusion

You can see even though there are over 10,000 people in their telegram channel. I don’t think there is a lot of hype. If you ready my DAOstack review you can clearly see the different in the hype category.

The Safein team I don’t think they have the right skill set to take on a project with so much competition.

For token metrics the hard cap is reasonable but I’m not 100% what kind of bonuses they are giving out. I also don’t know if they have been locked or vested. These things can cause a price dump.

These are just some of the things I believe could be the achilles heal for Safein. But remember everyone is different this is just my opinion. The project could be amazing but it’s up to you to make those decisions.

Personally I will not be investing in this ICO. As it is the market has not completely recovered and I’m only investing in blockchain and infrastructure projects that I believe can go the distance. Remember whether you plan to invest in Safein or not make sure to do your own research.