What is Cryptoindex?
Firstly, let’s make it clear what cryptoindex is not! This is not connected to a Ponzi scheme of the same name which I believe maybe no longer around. It was at the domain cryptoindex.biz and still has very negative reviews if you simply search ‘cryptoindex’.
There are 3 main parts to the Cryptoindex project. First is the token – CIX100, then the AI software – Zorax, and finally the platform. Any in-depth information on the site regarding the platform is lacking. It seems to be a trading software which will link to a number of major exchanges and allow signals and other pricing data to be accessed. I’m sure the CIX100 token will play a role on the platform too.
Cryptoindex could be cryptocurrencies’ answer to an index fund or index ETF. It analyzes and rates over 1000 cryptocurrencies and selects the top 100 to index with its token the CIX100. It’s AI algorithm, named Zorax, accesses data collated from 2013 and dynamically rebalances the top 100 coins in the index. The site states that the platform is trying to remove all human emotion from the index selection yet along with exchange information it also is analysing sentiment data from social media.
The Potential for the Project
The Cryptoindex project is at a very early stage and so still has the opportunity for early adopters to get in now. Buying ICO tokens offers the users certain benefits such as 50% off of the platform fees along with free access for 3 months. According to their own ‘roadmap’ they appear to be behind on the projections but overall the project team and stability seem to be genuine. One ICO rating site has rated them as a stable offering and it appears that all of the team members are genuine. At this time one concern is the fact they do not yet have a whitepaper available, there is a place to sign up to the whitepaper list though.
All in all, Cryptoindex has some good potential and could be one to watch and follow their progress. They do have a good following and reputation on both Facebook and Telegram. Essentially the concept of having a simple token which in turn is linked to a dynamic index of the best performing cryptocurrencies could be a crypto investors dream. Just hodl some CIX100 tokens and let the system work for you safe in the knowledge you are accessing the top performing cryptos.
If you want to find out more then check out the Cryptoindex website. Leave any comments below if you have thoughts or experience of Cryptoindex.