Genesis Vision Review: Full Coin Guide
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There is so much to learn about Genesis Vision Coin. We have keenly followed what has been happening with Genesis Vision Token (GVT). Being a potential investment, I get to ask myself many questions. Is this coin worthy to invest in? Who are behind this project? Should I wait or should I invest in Genesis Vision Coin?
These and many other questions have been crossing my mind over the last couple of months since I first had interest in GVT. As you may know, investing calls for genuine effort and caution.
That’s why when I first heard of Genesis Vision; I took time to find out what it was and what it could offer me. This review, therefore, is an outcome of my dealings with GVT.
Read on to find out all you need to know about Genesis Vision Coin.
What’s Genesis Vision?
Genesis Vision was founded mainly with the intention of creating a market for the Private Trust Management and operates on blockchain technology and integrates Smart Contract functionality. It is because of blockchain that the whole system is decentralized.
The platform had its initial Coin Offering (ICO) from 15th October 2017 to 15th November 2017.
Genesis Vision project is still in progress and is expected to be fully developed by 2020, after the implementation of its roadmap.
One unique feature of Genesis Vision is that all parties involved in transacting on the platform are united by a decentralized network. Therefore, there is no need for a middleman in any transaction and thus saving on middlemen fee.
With this fair network of smart contracts and decentralization, traders, brokers, exchanges, and investors are brought together in one central place – Genesis Vision.
Smart contracts, with their transparency and conflict-free system of trading, allow you to exchange money, shares, and other monetary transactions easily. One can comfortably do this on their own and without using brokers (only via my GVT tokens).
The team behind Genesis Vision
The Genesis Vision coin has a versatile and experienced team backed up by an equally impressive board of advisors. Some of the team members include Raslan Kamensky, the CEO and an experienced Blockchain Architect; Dmitry Nazarov, the CTO, and expert of Architect Solutions; Alexey Kutsenko, the CBDO and also CEO in charge of Tools for Brokers; Dmitry Ugarov, the lead Software developer. In total there are 11 team members charged with various responsibilities.
The advisory board also has some of the best minds in blockchain and cryptocurrency. Two of the main faces are Charlie Shrem, founder of Bitcoin Foundation, and Konstantin Gladych, the CEO, and co-founder of trading exchange Changelly.
Genesis Vision key players are:
These are legit companies licensed and allowed to transact business and other brokerage activities. They create a bridge between traders and financial trading instruments on over-the-counter markets and outside markets. They have the know-how in all trading transactions.
Advantages to brokers
- There isn’t a centralized company to deal with. All networks are able to represent the decentralized company.
- The brokers can attract all investors from anywhere in the world.
- All participants have identical terms and the network is free.
Traders or management funds who are being referred as managers could either be an individual or a company with a trading history that is well established and ready to manage investors’ money. The profit realized after management is then shared proportionally among the investors and managers.
The managers then receive a commission from management and a commission from the profit, which is, in fact, a part of the success fee.
Advantages to Managers
- Opportunities for attracting investors from any country are many without worrying whether brokers are sharing clients.
- With fairness of reporting which is transparent, there is a guarantee of fair competition with all managers.
- The manager is allowed to use any trading strategy in attracting more investors.
The investors don’t make direct market trade. Instead, they transfer their funds to the experienced traders who then manage the funds on behalf of the investors. Investors then receive their shares from their managers’ profits which are shared equally among the managers and investors.
Advantages to Investors
- Investors can access the managers from anywhere in the world and all the information on their trading and profit statistics is centralized and accessible.
- The financial instruments do not limit in any way the set of managers.
- Investors have the freedom to invest in both fiat and cryptocurrency.
- There are openness and transparency in profit distribution.
- All portfolios are available to investors on request whether high or low risk.
Getting profit with GVT
Knowing that the GVT is the usable main token for all the investments and distribution of profits, then, we can work out assumed profit using the token.
- Token rate $100 = 1 GVT.
- Investing $1000 I will buy 10 GVT.
- Exchange this with Manager’s cryptocurrency and leave it within the given time-frame.
- After the time-frame the manager turns in $1500 in a token and knowing that the token is gaining its worth, let us assume it is now at $120, I would get back 12.5GVT plus $500.
- Altogether I will have made 16.6 GVT or rather $2000.
Genesis Vision ICO
The ICO started on 15th October 2017 and closed on 15th November 2017
After a week from the final day of ICO, Genesis Vision managed to fulfill all their GVT payments and managed to avail all tokens in circulation.
Token sales = 3,327,482 GVT which translated to $2,836,724 for project development on Genesis Vision.
- Total supply – 4,436,643.93 GVT which translates to $94,442.40
- Value per token – $ 21.29 Eth (-11.67%)
- Token Holders – 6887 addresses
- of transfers – 38920
- Tokens reserved – 488,030 GVT (11%) Frozen for one year
- Tokens reserved – 221,832 GVT (5%) Genesis Vision Fund
- Within 24 hours after the close of ICO, 4 big exchanges listed GVT- Binance, HitBTC, Kucoin, and Etherdelta.
ICO use of funds
- 40% – Development
- 30% – Marketing
- 15% – Integration, server, connection and accounting audit
- 10% – Legal
- 5% – Others
GVT is the sole token of Genesis Vision and is based on the ERC-20 token standard. The GVT is set to be used for all tasks in investments, professionals’ distribution, and other administrator token transactions of internal exchanges.
These GVT coins were created during the ICO period. The number of tokens, however, is limited and technically impossible for issuance of more tokens. All unsold GVT during ICO were burned.
Etherium Blockchain is the base for GVT. Its implementation which is widely distributed corresponds to these standards.GVT is, however, also traded on crypto exchanges.
The Benefit of a token holder
- GVT token owner has no right to the profit distribution.Investors are allowed make several investments on Genesis Vision platform by purchasing at the exchange.
- Payment of the GVT token can be made with the chosen manager’s coin. This coin is regarded as internal currency since it is similar to ETF stock whereby the value of assets determines its value.
Genesis Vision price growth
It’s good to note that GVT faces price fluctuations like any other coin in the market. These are sample price movements of this coin;
- 15th November 2017 –at the close of the ICO, a single GVT rated at $1.
- On March 2nd, 2018, the opening price had surged to $29.90 against the USD. It gained further to hit an all-time high of $39.96 on March 8th. However, the bearish sentiment has seen its value drop to $21.62 on 31st March 2018.
- The market capitalization had a similar trajectory topping $145 million on 09 March 2018, before dropping to $79 million on 30th March 2018.
It is, therefore, possible to predict a long-term increase in value. For instance, you can buy 4.559 GVT with $100 today. With this knowledge and simple calculations, your $100 investment could increase to $377.508 and earn revenue of around +1621.11% (give or take) in the next 5 years.
Genesis Vision roadmap
The Genesis Vision Roadmap timeline has seven milestones that will run up to 2020. In each of these milestones, the investor’s experience will get better and more fulfilling.
The roadmap runs as follows;
- Nov 1, 2017- The launch of Genesis Vision.
- 2018- Release of Alpha and Beta Versions of the platform.
- 2019- Release of Version 1.0.
- 2020- Release of Version 2.0.
The 7 milestones that cover the entire roadmap are as follows;
- Milestone 1: Blockchain platform- this includes the release of the GV prototype on Ethereum that will develop into an Ethereum-based blockchain.
- Milestone 2: Integration-this will constitute the integration of platform with various exchanges and development of an SDK for integrating exchanges with the GV platform. This will include exchanges like NYSE and NASDAQ
- Milestone 3: Client applications-it will involve tools like Mobile applications that will be useful for investors and managers. There also will be a web application for the investors as well as managers. This milestone will also see the development of a back office tool for brokers.
- Milestone 4: Fund management (AI)- development of AI for the platform.
- Milestone 5: Legal issues – This milestone will involve getting brokerage licenses to legalize the Genesis Vision activities.
- Milestone 6: Marketing- the team envisions that marketing will play a vital role in getting the GVT to the public. It will involve three fronts: efforts to attract exchanges/brokers; expanding the market for investors, and partnerships with banks and financial institutions.
- Milestone 7: Focus on additional functionalities like the provision of cryptocurrency CFD trading, p2p social trading and concerted effort to connect more banks.
How to buy Genesis Vision?
GVT cannot be bought with FIAT cash. It is exchanged with other digital coins like Bitcoin or Ethereum.
To buy GVT, follow the following steps:
- Register for and create a Genesis Vision wallet.
- Open an account at an exchange like Binance.
- Deposit funds to your wallet using a payment method accepted at the given exchange.
- Buy bitcoin using this guide.
- Deposit the BTC in your account and proceed to trade BTC with GVT.
- Transfer your GVT to your wallet for safe storage.
Genesis Vision wallets
Genesis vision is an ERC20 token thus can be stored on ERC-20 wallets. ERC20 is a protocol for the Ethereum network. Here are a few options you can consider.
(MEW) is a client-side which is free, open-source interface for generating ERC20 wallets. It interacts with other wallets that support ERC20 tokens.
This is one of the most used hardware wallets. It can be used to store a number of cryptocurrencies. It is an USB-like gadget with a secure OLED display that confirms and double checks each transaction by a single tap on the side button. It is very useful in protecting cryptocurrencies and confidential data from accessing funds. Secrets like keys and passphrase are secured in this state-of-art element.
Trezor is an online wallet operated on hardware. It provides an advanced security on bitcoin private keys. Trezor makes secure payments without revealing private keys to a compromised computer. In other words, Trezor is a small computer that stores and secures private keys.
This is official Ethereum wallet. Mist is a web wallet. It has a user interface which is very appealing which is quite easy to use. As beautiful as its name, it has its downsides. It does not operate on its own. It needs Etherium for it to operate and therefore the need to download entire Etherium as big as it is before you operate the wallet.
Genesis Vision Exchanges
Binance which is a cryptocurrency exchange focuses on the Chinese market. It currently supports Chinese and English users. The Binance (BNB) token was created on its ICO event to fund its development. Following its success on its ICO, it began its trade in July 2017. It offers exchange interfaces on Basic and Advanced, which makes it easy to execute simple trades. It provides its professional traders easy access to advanced options like margin trading.
This the platform used to convert Litecoin/Ethereum/Bitcoin to GVT. Binance is also listed as one of GVT exchange.
- Exchange views both basic and advance.
- Supports multi-language.
- Support of approximately 100 cryptocurrencies.
- Mobile app Android version reported by some users having problems in operation.
- Hard to access long-term viability of the new platform.
KuCoin is a cryptocurrency exchange that is fast growing and reported to share its trading fees of 90% with its users. It has unbeatable low fees and offers good customer support. 50% of its profit is bounced back to the users with referrals and 40% to KuCoin coin KCS shareholders. Genesis Vision listed KuCoin as one of its exchange.
- Variety of coins.
- Low withdraw trading fee.
- Easy to create an account.
- Does not accept margin trading.
- Fiat transactions not allowed.
- Bank credit cards not allowed.
HitBTC exchange is based in Estonia. It has been in operation since 2013 and started trading with €6 millionin funding. Though it mainly focuses on Estonian and other European markets, it also considers other countries that enforce AML/CFT. GVT is listed on HitBTC as one of its exchange.
- Safe anonymous accounts.
- Supports more than 50 cryptocurrencies.
- Very low fees.
- A slow process of verification.
- No mobile app.
- Unorganized structure.
In a Nutshell
Within the few months of Genesis Vision in trading, it has made tremendous steps and has a bright future. One of the main areas of focus should be to ensure the roadmap is undertaken and implemented. If they manage to move from the web platform to a mobile platform with a GVT wallet, then we’ll surely see the value of GVT surging in coming years.
This will be largely due to the platform being widely adopted by cryptocurrency investors around the world. If you are looking for a visionary platform that will likely give you huge returns, GVT is one such opportunity.
I am glad you took time to read our review of Genesis Vision Token Coin. To get more information on cryptocurrency, kindly feel free to check our site for more content.