What is Veritaseum?
According to the official website, Veritaseum is a “gateway to peer-to-peer capital markets”. It builds blockchain-based platforms that aims to eliminate the middlemen like financial advisors and brokers from the capital market. The main aim of the platform is to make it easier for the users to transfer funds globally. Veritaseum was founded by Reggie Middleton and Matt Bogosian.
The native currency of the platform is called Veri which is an ERC20 token. Users who own the Veri coins can purchase rights to access the smart contracts that manage the platform’s services.
Features of Veritaseum
One of the important products of the Veritaseum platform is called the VeADIR (Veritaseum Autonomous, Dynamic, Interactive Research. It is a trading platform that offers VeADIR users an array of trading opportunities. The Veritaseum website also mentions several other products like VeRent, VeExposure, VeResearch and others.
Where to buy Veritaseum?
VERI tokens are listed on exchanges like EtherDelta, HitBTC, Mercatox and others. The total supply of VERI tokens is capped at one hundred million while the circulation supply is just 2,036,645.
VERI tokens are based on the Ethereum network hence, they can be stored in MyEtherWallet and hardware wallets like Ledger Nano S and Trezor.
There is no reliable source that can validate whether the VERI tokens can be mined.
Veritaseum Price Trends
On 30 May 2018, the market capitalisation of VERI tokens was $171,792,672 while the price of 1 VERI token was $84.35. At the beginning of January 2018, the price of 1 VRI token was around $400 however, by mid February the price had fallen to $260. By the end of March, the price of the coin had fallen to $136. The decline of the price continued even in May.
Risks involved with investing in Veritaseum
Although Veritaseum looks like a promising platform on paper, there has been speculations and negative reporting around its credibility. Cryptocurrency experts and bloggers have raised concerns about the authenticity of the platform while several articles have also referred to it as a scam. Moreover, the platform does not have a detailed white paper that explains the objective and technology behind it.
Hence, investing your hard earned money in a platform like cryptocurrency is not a viable option as it is full of risks and uncertainty. Hence, we would advise you to invest in mutual funds instead as it is a more secure and reliable form of investment.
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