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Eo.Trade – another ICO aiming to bring crypto and traditional markets together?

May 31 2018
By
Jonathan Smith

Eo.Trade is an ICO created by the people behind an already existing binary options broker – Expert Option. The full scope of the project is very broad, but each step is connected to a specific level of capital gained from the coin offering. We will present them, as well as some information on the team involved and the new token itself.

 

Who is behind it?

 

ExpertOption is a binary options broker, which we have reviewed. The company offers a very dynamic trading environment – the maximum duration of a deal is only 2 minutes. The focus is primarily on more traditional financial instruments – forex pairs, oil, metals and a few (while cryptocurrencies are also available). When compared to other similar companies in the field, ExpertOption isn’t a very credible one, due to some regulatory issues, which we have written extensively about in our review. The short version is that the “licensed broker” claim, which they make on the ICO website isn’t that correct.

 

Different systems will come with milestones

 

For now, Eo.Trade is an idea. An idea to create several interconnected websites, which will allow users to trade cryptocurrencies and more classic financial derivatives. 

 

-Eo.Trade – this will be a cryptocurrency exchange. The team has made promises for the fastest KYC and Withdrawals in the field, which is a very bold statement (alongside the one for the “most powerful engine among crypto exchanges”). 

 

-Eo.Finance – this part of the ecosystem will be a platform for multiple assets, both digital and fiat. The main service which will be offered is converting crypto to fiat and vice versa. In essence, this will be a multi-purpose wallet and exchnager.

 

-ExpertOption – this is the binary broker behind the ICO. The website is completely functional and accepts fiat currency deposits, allowing traders to place predictions on the short term market fluctuations. A fully tokenized environment will be in place, presuming enough capital is gathered.

 

-Eo.News – this will be a completely free to access news platform, which will focus on developments in both the world of cryptocurrencies and the “old fashioned” financial markets. This probably sounds the least exciting, as there are plenty of news outlets out there and consumers are used to free content.

 

Here are the milestones set for each of the four elements, as well as fifth bonus one:

 

The capital milestones for the different features (click to zoom)

 

The EO coin

 

If the Eo.Trade ecosystem sounds interesting to you, and you would like to support the project, you may be surprised to find out that unlike a majority of other ICOs, this one also accepts fiat currency investments. This is done via credit card payments.

 

Of course, crypto is also accepted, with a surprising number of coins available – a total of 35 coins are accepted, while most fundraisers only use Ethereum. On the other hand, once created the token will most likely only be traded on the eo.trade exchange.

 

The key thing to note is the EO token will be a utility token, not a dividend paying one. If one chooses to pay his fees in the Eo ecosystem with it, they will be lower. Eo.Trade and Eo.Finance will have fees, while ExpertOption will provide higher payouts to users with the asset. This is a similar model to the one used by Binance and Bibox, whose tokens (BNB and BIX) are actively traded. Here are the rates for the Eo.Trade discounts:

 

The discount rates given by the EO token

 

The distribution seems fair, when compared to other ICOs, with 70% being given away to the public. We are currently in the public. Here is the progress of the sale at the time of writing:

 

The current state of the ICO

 

This means, eo.trade has not yet reached its soft cap, which in turn means not even the most basic functionality – the eo.finance wallet isn’t guaranteed yet. That being said, one could still get a pretty attractive bonus on his investment.

 

Conclusion

 

Eo.Trade is a project, which will attempt to create an entirely new ecosystem, which will connect cryptocurrencies and binary options. A system, which truly connects both worlds would probably have immense success. That being said, we have a few concerns with Eo.Trade – first of all ExpertOption isn’t exactly a credible broker and furthermore they only offer binary options. Had a similar ICO been proposed by a well established and tightly regulated company, like HYCM, IG or FxPro, which also offers spot trading, we would have been much more optimistic. Still, the world of crypto is full of worse ICOs and despite not having the best licensing, ExpertOption seems like a technically capable company.    

TAGS: eo.trade  eo trade  ICO  binary options  expertoption  eo.finance  eo finance  eo.news  eo news 
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