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There seems to be an explosion in new cryptocurrencies these days. Each new coin that comes out claims to solve a problem or attempts to corner a particular market segment. Cryder, one of the latest offerings on the table, attempts the second strategy. Cryder aims to be the first decentralized taxi platform for freelance drivers.
With the rising popularity in ride-sharing apps like Uber and Lyft, it’s no surprise that a cryptocoin would be developed to help people engage in ride sharing without having to rely on a centralized authority to manage transactions. As a result, Cryder opens up a potential revolution when it comes to transportation, but is it worth your investment? Read on to find out.
Cryder seeks to offer a decentralized payment platform for freelance drivers. In doing so, these individuals will not have to rely on other ride-sharing applications to conduct their business.
As a result, drivers will be able to turn a better profit because they won’t have to rely on other services who charge transaction fees and other nickel-and-dime type strategies to boost their own profit while taking money away from the drivers themselves.
Moreover, because Cryder has the potential to create tremendous savings and enhanced profitability for drivers, riders will be able to get the lift they’re looking for at a reduced cost. Therefore, Cryder has the potential to bring sweeping changes to the way people get around.
Features and Uses
Cryder offers a number of interesting features in its attempt to break into the highly profitable ride-sharing economy. Accordingly, their features focus on ease of use, security, and accessibility.
0% Commission for Drivers
Cryder offers a 0% commission for drivers. This is going to be a must-have feature for this coin initially, as they will be hard pressed to break into a market that’s dominated by some of the biggest and fastest growing companies in the world. This 0% commission allows drivers to generate a higher profit, while offering lower prices to their fares.
Cryder doesn’t rely on a centralized authority for their services. This sets them apart from other ride-sharing systems and enables drivers to operate how they want to, bidding on different ride requests in their area. Moreover, it ensures that drivers will have predictability with their finances, as the lack of centralized authority means that there won’t be any unforeseen and sudden change in the regulations or payment systems they rely on for their living.
Cryder is built on the Ethereum Blockchain, providing tremendous security and privacy for users and drivers alike. The consistent and predictable behavior of the Ethereum Blockchain means that laws, regulations, and limitations need not apply.
Open Source Development
Cryder is being developed and compiled in an open-source environment. The company will publish and maintain their own app, but it can be used by anyone to make their own version. This offers plenty of room for expansion and innovation, while also potentially creating a way for the coin to operate in markets other than ride-sharing.
Plans for Expansion
Another important feature that the coin has going for it is the ambitious but achievable roadmap the company has laid out. They aim to have their Cryder alpha release by March of 2018, and are working to incorporate solidarity developers, P2P specialists, Android/iOS engineers, and more in the efforts to expand to EMEA, Asian, and North and South American regions.
Cryder was conceived of as a way to tackle a few different problems at the same time. The coin was initially considered based on the fact that Uber is available in less than half of the countries worldwide, and Lyft is a US-only operation.
In response, the Cryder team created a decentralized and unregulated coin and open-source development tools to counteract the lack of transportation options for most of the world. Their whitepaper was released in March, 2017, and their pre-sale will start on Oct. 20.
Total Supply and Circulating Amount
Cryder (CDT) will have a total circulation of 455,000,000 coins. 50,000,000 will be offered for pre-sale starting Oct 20, 2017, and ending Nov 3, 2017.
The sale will be in Jan, 2018, and will have a distribution cap of 400,000,000. This leaves 5,000,000 tokens for bounty. The presale exchange rate will be 1 ETH = 9,000 CDT. The Jan. sale will have an exchange rate of 1 ETH = 3,000. Both the presale and the sale allow for unlimited tokens per person, with a minimum transaction amount of .1 ETH.
Conclusion – Should You Take a Ride with Cryder?
Cryder is an interesting choice when it comes to your cryptocurrency investment. On one hand, specialized coins are everywhere, and in order for these coins to grow in value they’ll have to either stake out a large portion of the industry they specialize in, or will have to expand beyond their initial industry.
Cryder has the potential to do both of those things, but we’re a bit cautious on them at this point. The initial offering rate of 9,000 CDT for 1 ETH is a bit high for our liking, and the sale price of 3,000 CDT for 1 ETH is even worse.
If Cryder does experience huge growth, it will be slow enough that you’ll have a chance to take advantage of it after the initial sales and still turn a profit due to the nature of its industry-focused design. See how the pre-sale goes at the very least before sinking any substantial amount of capital into Cryder.
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