Expert Coin

BitherCash ICO

Pure Lending
1.7
Total score
Category:investment

Detailed evaluation of the project

2
Product
3
Business Plan
1
Marketing Strategy
1
Team
2
The Vision
of the Market
2
Understanding of the Target Audience
1
Competitive Advantage
Basic expert assessment of the project BitherCash ICO

Product

BitherCash is a highly secure peer to peer decentralized cryptocurrency using the Scrypt PoW/POS (Hybrid) Algorithm with a self-regulated financial system. BitherCash offers a lending program and referral program which pays the lender a daily dividend on their investments and the user will receive their initial investment back at the end of the loan period.

In contrast to the existing cryptocurrencies and the ICO token market, which demonstrate high volatility, the Bither Cash project offers a stable token that people will buy because it retains its price. This is the main idea of the project. The founders of the project say the following about their product: «This currency is like the Dollar, but it is only available in the digital world. The concept may sound like Bitcoin and is actually not much different from Bitcoin». The concept of the product seems very contradictory. First, the idea of cryptocurrencies is opposed to the domination of dollar and other major fiat currencies.

Secondly, the founders of the project admit that their cryptocurrency is not much different from Bitcoin. Why should it be stable?

As for the lending platform, there are many similar projects in this area already.

Business plan

As for the BEC cryptocurrency, it will operate on the basis of the same principles as Bitcoin. BitherCash coin supply will only have 55 million coins worldwide, this resembles an economic system based on deflation and with increasing supply coin.

BitherCash coin prices tend to rise, when demand is high and the number of coins that remain is not increased. According to the founders of the project, BitherCash is worth buying because it is very cheap and in the future will become more expensive as it happened to Bitcoin. The difference is that Bitcoin is already expensive, and BitherCash is still cheap.

The lending platform offers investors a monthly income of 1.5 to 7% depending on the amount of invested funds. Investors will be able to profit and handle it daily.

The lending platform is already working, and users can evaluate its functionality.

The business plan does not contain many details or shine with originality but looks quite adequate.

Marketing Strategy

The project has no marketing strategy. It is unclear how BitherCash will capture a market share among the hundreds of cryptocurrencies and many lending platforms.

Team

The project team wished to remain unknown keeping their privacy. But this is a huge disadvantage of the project.

The Vision of the Market

A general overview of cryptocurrency market and its main problems is given: high volatility and unreliability. it is similarly said about tokens that are issued during ICO-projects. The analysis of competitive environment was not carried out, while there are already several hundred cryptocurrencies, not to mention tokens.

Understanding of the Target Audience

There is no analysis of the target audience. It is mentioned that those who haven't bought Bitcoin at a low price now can buy BitherCash. Lending platform for investors is also presented. But nothing is said about the borrowers, who should also use the platform.

Competitive Advantage

The founders of the project see two main advantages of BitherCash:

  • The opportunity to buy coins at the ICO stage at a low price and earn on their further growth;
  • Opportunity to receive daily income by investing in the lending platform;
  • Stable currency.

But the product is not different from many existing analogues. And it is unclear how the stability of BitherCash will be ensured.

Summary

Unfortunately, it is very difficult to find advantages of BitherCash project. We have to talk only about the shortcomings:

  • Vague concept of the project;
  • Huge competition among cryptocurrency projects and lending platforms;
  • Complete lack of information about the project team;
  • Lack of competitive advantages.

There is a high probability that the project will be a scam.

Description of the project BitherCash ICO

Though numerous brand-new blockchain technologies and cryptocurrencies have actually emerged over the previous few years, none has yet accomplished the development success needed for mainstream adoption -primarily due to unfavorable promotion, bubble speculations, rip-offs, and complex user-interfaces. Hacking and othercyber attacks on crypto exchanges have actually added to the general uncertainty which accompanies this brand-new technology.

In a lot of cases, merchants and Service Providers contradict cryptocurrency payments due to the fact that of the unforeseeable exposure to run the risk of posed by exchange losses, price volatility, and regulative issues. This unpredictability, integrated with a lack of management, marketing, and financial skills, prevents designers and community members from scaling numerous desirable features or services to a global phase.

While crypto certainly has the prospect to rise as a global payment approach, it remains the victim of speculation. The volatility sets off by traders seeking to make a quick dollar places it beyond the reach of a lot of mainstream users, who require that their currency hold the same value tomorrow as it does today. A steady cryptocurrency would allow both everyday users and merchants to gain from all the advantages of blockchain technology while decreasing the danger of loss caused by unforeseen fluctuations in value.

In real life, individuals interact with others by purchasing and offering the items that they need. Searching and searching for items prevail daily activities for a lot of users. BitherCash offers a platform that integrates market where neighborhood members, businesses, and users can connect, exchange currencies after lending out for some specific periods of time.

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