BitScreener ICO Review and Rating

BitScreener ICO Review


Updated 08/03/18

BitScreener is a unified financial data and content ecosystem for cryptocurrency and traditional stocks.

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BitScreener Token Sale

06/27/18 - 07/02/18

Whitepaper Website
Not allowedSingapore, USA
Token Price1 BITX = 0.0626 USD (0.00013978 ETH)

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BitScreener ICO Review & Analysis

Information is power, particularly in the cryptocurrency space. The more tools traders have available for token tracking and data analytics, the better their ability to make smart trades and stay in the green. BitScreener has a web and mobile app operating since 2017, offering investors tracking and data services for a wide range of cryptocurrencies and traditional stocks. Now they are launching an ICO to fuel their growth into a one-stop financial data ecosystem.

What is BitScreener?

BitScreener’s value proposition is tied in traders’ desire for extensive, trusted financial data and content. Some platforms only provide charts and raw figures, whereas others provide content, without the detailed analytics needed by advanced traders.

Essentially the problems identified come down to:

  • Lack of a unified platform for analytics and content.
  • Content provided is hard to trust – either crowdsourced or provided by a platform itself, the crypto space is plagued by misinformation and shills, which inevitably leads to FUD in the market.
  • Content providers are not incentivized to provide good, unbiased content. The reason most content is consciously or subconsciously pushing an agenda is that is basically the only way the content provider can profit from their input.

BitScreener wants to grow to an ecosystem that tackles all of the issues above. They will offer financial data/analytics and content delivery all in one platform – like a combination of CoinMarketCap and SeekingAlpha. Then they implement a voting and incentivization system for user-provided content, with which the userbase can verify whether the content is useful and trustworthy. This gives users a financial incentive to provide great content, earning tokens for their efforts.

Finally, another aim of the project is to unify the worlds of cryptocurrency and traditional stocks. The two areas have a split crowd at the moment, and for those who trade both it is hard to manage a portfolio featuring crypto and stocks. BitScreener will provide tools, analytics and content for both, in an attempt to grow both markets through inclusivity.

The Token & ICO

Perhaps the most important addition the platform’s ICO brings is the BITX token. Users “mine” BITX by providing content. Following the public sale, BitScreener will have a reserve of 90 million BITX which are released to users contributing content to the ecosystem, as long as it is verified as useful and reputable by the userbase. BITX tokens are also used to unlock premium services.

The ICO, taking place in late June 2018, has a softcap of 1,000 ETH and a hardcap of 15,000 ETH (approximately US$6.5M at the time of the ICO). Total volume of BITX tokens is 450 million, with 139.5 million BITX available for public sale. 15% of the supply is allocated to the team, while 50% is retained on the platform – 30% for future operations and 20% to make up the content “mining” reserve.

The Team & Roadmap

BitScreener is registered in Singapore, though the core of the team originates from Vietnam. The team has a deep technical focus. CEO and co-founder David Nguyen holds a PhD from Oregon State University. The site lists 15 members altogether, including several back and front end developers and a blockchain engineer.

As the platform is already operating in its initial form, it’s not expected to be long after ICO for full function rollout. The team plans to implement the incentivized content system in Q3 of 2018, with a fully operating BITX token economy by the start of 2019. Further development over 2019 is focused on extending the platform’s reach, adding stock market tracking for Singapore and Vietnam initially, expanding to 30-50 countries total.

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