Beginner’s Guide: SWFT Blockchain Review
Blockchain is today a buzzword across the globe, and be it the financial industry or any product or service-based business. The impact is rapidly gaining momentum. We have witnessed astronomical growth in terms of transactions handled by blockchain networks. As the market expands, there are amazing investment opportunities that could give a phenomenally high return on investment compared to traditional investment tools.
Having said this, there is a flip side to it. With many projects already launched and new ones getting into the market daily, it becomes difficult to stay up to date with all the good options. Low entry barriers are also allowing many scams to enter the system. They create tokens to exit the scam at some point in time and escape with the investor’s funds. Lack of regulation in this domain makes it all the more difficult for you to recover your funds once lost.
This article’s objective is to assist you with 10 pointers, which will help you evaluate a project and make an informed decision. My humble request to all of you reading this article is not to gamble/speculate when it comes to digital currency investments. Success takes time. Hence legit projects will take time, but the ROI will be phenomenal. Becoming a millionaire overnight is a myth. It takes a lot of patience, perseverance, and knowledge to sail through this roller coaster ride and achieve your financial goals. So be smart and choose wisely.
This article uses a simple 10-point strategy to evaluate today’s SWFT Blockchain (Smart Worldwide Financial Technology).
What Is SWFT Blockchain
SWFT Blockchain is a cross-blockchain platform. On the APP, the website, or the API, users can transfer cryptocurrency with one click. Built by world experts in artificial intelligence, big data, and blockchain, SWFT became an outstanding transfer platform. Its success emerges from efficiently hedging risks and providing customers with a user-friendly platform for cryptocurrency transactions. By using SwftCoin, users enjoy a discount on transaction fees on the SWFT platform.
SWFT Exchange Platform
The PRODUCT is the heart of any business. A positive score goes to the project, which has a working or planned product, a well-defined use-case. Also, you need to evaluate if using blockchain actually makes it viable and useful.
SWFT provides a simple and seamlessly fast platform for single click exchange of digital assets across different blockchain platforms. SWFT Blockchain technology uses Artificial Intelligence algorithms, machine learning, and big data mining to provide a safe, fast, and affordable trading system.
The AI and data mining algorithms ensure that the platform can scan the market and pick the best possible exchange rate. This ensures that the customers need not worry about lack of depth in a particular exchange; simultaneously, it provides a unique Arbitrage opportunity as scanning the complete market manually for rate differences across exchanges is practically impossible.
With SWFT’s connection to global exchanges and OTC markets, the user not only gets one-click access to the most updated price charts but also saves a lot of money in case they want to involve in cross border transfers, thus making it a useful tool for both individuals as well as business enterprises.
SWFT platform’s revenue model is based on transaction fees for trades, which is relatively much lower by using SWFTC (explained below) and service fee for automatic transfers and intelligent quantitative conversion strategies using RNN( Recurring neural network) to predict price fluctuations and thus suggest optimal investment strategies.
UNIQUE OFFERING: SWFT team has launched an interesting feature – RED PACKET. This leverages the future of blockchain, where true P2P happens. RED Packet is a tool through which customers can transfer funds to an individual, group, or even do airdrops by leveraging social media channels like Telegram, WhatsApp, Twitter, etc. It’s a fun tool to transfer funds to friends, family, and a nice tipping tool to be used in social media engagement. RED packets are currently available for 31 coins/tokens and increasing gradually. RED Packet concept is sure to bring in a lot of new users to the SWFT platform.
SECURITY: SWFT uses local and advanced cloud storage solutions to ensure data protection and duration. SWFT team has also partnered with 3 cybersecurity firms to provide additional layers of security. Cold wallet storage and multi-sig ensure that customer funds can be considered fairly safe unless an insider leak happens. SWFT Blockchain also offers a completely decentralized transfer, meaning you can keep your tokens in your hardware wallet before and after the transfer. The credibility of the team in the next point helps in accessing this aspect.
SWFTC: SwftCoin is the trading fee coin of SWFT based on the ERC20 platform. The platform also provides SWFTC pairs for trading on the platform. The biggest advantage of SWFTC is that it helps in reducing the fees by about 50%. The normal transaction fee is 0.10%, but by using SWFTC, users will reduce the cost by almost half as the fee is only 0.05%. This is comparatively much lower than a few similar platforms like Changelly, which charges around a 0.5% fee. SWFTC also used as the only payment mode for service fees, thus creating a broader use case. Cross-border transfers can also be executed using SWFTC, thus expanding the USE case further.
The project scores well on the product aspect with sound technology, robust backend, and user-friendly UI.
SWFT Blockchain Team
The TEAM is again one of the most important aspects to access a project. A credible and transparent team goes a long way in establishing trust and builds confidence for long term investments.
The project is headed by CEO Mr. Ramble, who has a credible background in the blockchain industry. Few important positions he holds include President of the North American Blockchain Association in California, U.S.A; CEO of Guiyang Blockchain Incubator in Guizhou Province; Partner of Guiyang Blockchain Fintech Capital Fund in Guizhou Province; Chairman of Fujian Supply Chain Blockchain Association in Fujian Province, China; Founder of Goocoin Inc, the first Cryptocurrency Mobile App in Beijing, China. Mr. Ramble has been a pioneer in cryptocurrency and blockchain technology since 2010.
CFO Mr. Alex Witt, CMO Ms. Christina Rinker, CTO Mr. Zhanlei Ma, are also noticeable names in the blockchain domain. With decade-plus experiences ranging from equity research, marketing, PR, technology development in firms like Goldman Sachs’, Cargill, etc. they bring rich learning on board.
Other team members include Qian Wan, Xingtao Niu, Lianqiang Mao, Xin Huang, Shiyu Wang, Mo Zhang, Gang Liu, Yun Xu. They are having rich experience in technology and finance, making for a good complete core technical team.
The community management team is driven by Arvin, Melchis, Allan Cruz, Alexey, Jeff Xu, Pablo Martin, who are doing a good job with crowd engagement and management.
SWFT Blockchain Strong Points
MARKETS AND PRICING: This is an excellent indicator to assess the intent of the project. This differentiates the professionals from the noobs.
SWFT now has increased its range and offers currently 100+ coins/tokens on its exchange and trade platform. The team is doing a good job of forging new partnerships and launching new listings to enhance traffic and volume traction. With 2110+ coins (as per CMC), there is still a long way to go and give the SWFT team enough space to get more listings on the board.
Furthermore, their native token SWFTC is currently trading at a price point of $0.001 and is available on major exchanges like OKEx, Huobi, and HitBTC. As with the overall crypto sphere, the price has gone down from the January 2018 levels. However, the silver lining is that in a bear market, it is also averaging 300-350 BTC, 10000 ETH daily trade volume summing up to approx $1 million-plus. With the introduction of the RED packet, a surge of in-app SWFTC purchase is expected to add value, increasing usage, and help stabilize and surge the pricing.
APP, WHITE PAPER, AND WEBSITE: This is the first impression of the project and again is a big differentiator between professionals and new kids of the block.
SWFT whitepaper covers the basics and is detailed enough to share relevant information. The website covers the basic aspects of the project; however, this needs to be expanded to cover more detailed information about the project, usage, detailed guides, team, etc. The mobile apps have a nice user interface and quite convenient to use.
SOCIAL MEDIA: Social media is one of the strongest tools available to create a huge global customer base in the digital space. A legit team will strongly invest a lot of time and energy to build up their social media presence.
SWFT exhibits organic growth in this domain with approx 10000 members in a telegram,7500 followers on Twitter and over 5000 downloads on play store, and 400,000 registered users. The engagement levels on the social platform are quite interactive and are exhibiting positive growth trends. You can check-out the platforms via Twitter and Telegram.
COMMUNICATION OF TEAM: The communication by the community managers and teams is a good indicator of accessing the top bosses’ true intent.
The team has many community managers who also seem to be quite knowledgeable about the core product and troubleshooting and FAQs. This indicates that the core team has done some good work in knowledge sharing and team building activities and thus builds credibility that they are here for the long run.
SUPPLY and FREEZE: A legit project will always have a clearly defined roadmap for token release and distribution. SWFT scores well here as well. The total supply of their token SWFTC stands at 10 billion, the current supply in the market is 3.6 billion. The distribution ratio is 50% for sale; the remaining 50% is frozen and will be released at a rate of 12.5 billion every year. The frozen tokens are allocated in the ratio of -> 40% for the team, including salaries and management bonuses, 50% for business, infrastructure development and market expansion, 10% for research & development, and CSR (corporate social responsibility) in the education sector.
MARKET SIZE and POTENTIAL: A long term viable project has identified a niche market and is leveraging blockchain to create a global customer base. SWFT, under being an exchange, has a potential market of 125 billion dollars at the current rate and which, for obvious reasons, is expected to run into trillions in years to come.
COMMUNITY: Communicating with the community can give you a lot of indications about the project. A good project is where the community is loyal and knowledgeable; they vouch for the product and the team. Discussions in the group are constructive and project-centric. Team SWFT is making organic growth in this domain and gradually building up a loyal follower base. It’s a continuous process, though, and a lot of further effort needs to be put in this direction.
COMMITMENT: A good project is one that values commitments and delivers on time – be it a product release, partnerships, merchant on-boarding, events, commitments to investors, etc. Vice-a-versa for teams that frequently backs out from their own words. Team SWFT seems to deliver on or before time on most of their commitment as per the white paper. In-fact when it comes to partnerships, new coin / token listing, they are looking well poised to over-deliver.
Overall, the project scores well on the technical aspects and has a good product. It is time for them to get aggressive to acquire more users and coins on their platform, enhancing the overall value proposition. Very few things in the world are perfect, but we need to aspire towards perfection daily. After evaluating a project on the above parameters, if a project scores 8-10, it could be considered safe. Any score below 5 should definitely be skipped for the time being until the team proves otherwise.
Due diligence and a little time investment can go a long way in safeguarding your money and giving you phenomenally high ROI in the long run. It’s just a hunt to avoid garbage and fill your bags with gold.