If you don't hold any Kyber Network tokens i would suggest you get some right now!
Exchange: OkEx, Huobi, Binance
Market Cap: $490,273,786 USD(490 million)
Current Spot: #58
Price per Token: $3.66 USD
Max Supply: 215,625,349
Circulating Supply : 134,132,697
Satoshi Value: 0.0003142
Website: https://kyber.network/
Twitter: https://twitter.com/@KyberNetwork
Reddit: https://www.reddit.com/r/kybernetwork/
Telegram: https://t.me/kybernetwork - 5100 Members
My thoughts: This is a sleeping giant that you must have in your portfolio.
Kyber Network is a trust-less decentralized exchange that operates through smart contracts. Their platform will not require you to sign up KYC as they will not be holding any of your tokens on the exchange. The process will all be operated through smart contracts which will eventually lead to atomic swaps eg ETH to XRP or NEM to QTUM. Once a transaction is processed it will be done instantly without confirmations as they will have high liquidity in their reserve pool.
Token:
With the token it is used on the platform to pay for fees and gets burned in the process. This means the more people use the token the more value it will gain in the long run.
Team/Advisors:
Vitalik is one of the official advisors of Kyber Network and OmiseGo. The founders previously worked together at SmartPool which Vitalik was their advisor there as well so this shows they have built trust in working together and are very knowledgeable on building long term success for block chain.
Another great factor is the support from multiple investment firms, this shows the project has great long term vision.
Roadmap:
Their Main-net DEX will be launched this quarter of the year so this is going to gain traction very soon and explode once investors learn about Kyber Network. The release will allow instant trading with ERC20 ETH tokens once their liquidity pool is provided.
Recent Updates:
Kyber Network partners with Coinduck a Korean company helping merchants adopt use of ETH:
https://blog.kyber.network/kyber-network-enters-partnership-with-coinduck-to-popularize-cryptopayments-in-korea-a992134494da
Kyber Network partners with Coin Manager Korea’s no 1 wallet provider and portfolio tracker:
https://blog.kyber.network/announcement-kyber-network-partners-with-coinmanager-f345014a8e12
Kyber Network partners with ICX to secure future cross chain swaps:
https://blog.kyber.network/new-strategic-partnership-announcement-kyber-network-icon-78bd0f572820
Whitepaper:
https://kyber.network/assets/KyberNetworkWhitepaper.pdf
Final Thoughts: Keeping 10% of portfolio.
I will be accumulating more KNC as we go through the altcoin fever till the end of Feb. As Kyber Network gains more and more partnerships it will make the coin very valuable in the next 6-24 months. If we look at tokens like BNB or KCS they are very big on their centralized exchanges because they help reduce trading fees on their platform. We have seen the tokens in December getting 10x gains in just weeks. Kyber Network isn’t a trading platform but it will allow a person to save a lot of time doing instant conversions in one place rather than sending their tokens to an exchange and waiting for their super long nodes to confirm( Oh it grinds our gears! ).The platform will be similar to Changelly.com which they reached 1 million users in a very short amount of time. As security becomes more and more important decentralized exchanges help users not run the big risk of losing their funds on an exchange that is constantly being attacked by hackers.
You cant steal something that isn't there.
Thank you for your time. If you have any questions or feedback please let me know. :)
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Disclaimer:
Invest at your own risk. This is my opinion and is not financial advice. Always make sure you do your own research and invest what you can afford to lose.
Donation Address
Bitcoin: BTC ONLY
1HGU87U6io2ca76dsxqHT6TnaSaWCnK57m
Ethereum: ETH / ERC20 tokens
0x17875fF1A64A0D53F42044FE5408BAb558e885bF
Litecoin: LTC ONLY
MGj3nJE8ASkztQu6qDuH2Z1eUZ6X3uM2Tf
Thank you for the article. We fully agree with you that KNC is one the best picks crypto picks as per the moment. We highly value its team, numerous partnership and their key business sector - DEX (might be one of the hottest topics in crypto this year). However, for this area we have selected ZRX token. Would be great to see your ideas on ZRX.