When scanning through different crypto assets, it is easy to find examples of grossly overvalued coins as well as those that are massively undervalued. Here at Decryptofied, we spend a large portion of our day researching different assets to write about (and to invest in). Every once in a while, we stumble upon an asset that is just ridiculously low. After spending an embarrassing amount of time researching this coin, it seems that Cobinhood (COB) is a perfect example of this.
What is Cobinhood?
As with most good crypto-assets, it is a little too complicated for a single article. To try to sum it up, however, it is an exchange and it is an ICO underwriter. The exchange will work much like Binance and Bittrex, but with some nice enhancements. The thing that sets this exchange apart is that there are zero fees for transactions. This alone should help to draw in tons of users. The really interesting part is their underwriting. They will work with companies that want to conduct an ICO, and help ensure they are legit and properly funded and all that. This essentially removes much of the risk from an ICO for investors, which will (in theory) draw in lots of buyers. This service is where COB makes money (and what helps to increase value of their tokens). They have already had one successful ICO, which was for Cybermiles.
Why is it So Cheap?
Cobinhood was at about $.08 when we first looked at it. It has been slowly climbing, and as of this writing, it is around $.13. The market cap, which is what really matters here, is just $34 million. The best thing to compare this to right now is Binance Coin (BNB), which has a market cap of $185 million (keep in mind BNB is only an exchange, and doesn’t do the underwriting piece, which is where the big money can come in). So, why is it so low? Several reasons:
- Exchange – They are currently only on Decentrex , Mercatox, and EtherDelta. EtherDelta is the only one of those three that has any significant volume, and it is widely disliked because it is confusing and difficult to use.
- New – They are pretty new with their ICO being less than 2 months ago.
- Beta – Their exchange is still in test/beta mode. It is set to launch shortly (early December) at which point we will almost certainly see a big jump in price.
- FUD – There is a popular post on Reddit that claims that COB is a scam. We researched these claims, and found the claims to be entirely false.
What Does the Future Hold?
It is, of course, impossible to predict what will happen to any crypto asset, but it certainly looks bright for this one. Cobinhood has two great products, both of which are in great need for the crypto-industry. Their team is exceptional, and includes former Google developers as well as Tony Scott, who is serving as the Chief Strategy Advisor. For those who don’t know, Mr. Scott was the US Federal Chief Information Officer (2015-2017), former CIO of VMWare, Microsoft and The Walt Disney Company.
Whether you invest in COB or not, this company is going to be a game changer for crypto. Keep a close eye on it.