If 2017 showed us anything, it’s how phenomenal blockchain and cryptocurrency are. Everyone has heard the success stories, the tales of Bitcoin millionaires. Countless new investors, undeterred by warnings of a “Bitcoin bubble” have opened Coinbase accounts, wanting in on the action.
But it’s not as simple as all that.
Crypto is still being treated like an investment asset, not like the digital currency Bitcoin was originally envisioned to be, and until it achieves mass adoption, it will continue to exist as such.
And why hasn’t crypto hit mass adoption? That’s a complex situation with many factors feeding into it, but one thing everyone will agree on is how overwhelming it can be to navigate different exchanges.
For those who entered the crypto market during the highs of December 2017, Coinbase was likely your main method of trading and storing coins. Coinbase is problematic for many reasons: its centralized nature makes it vulnerable to hacking, it charges high transaction fees, and it has poor customer service.
Newbies to crypto trading – and even those who have been in the game for a while – are often hesitant to try less mainstream exchanges. It can be difficult to know where to go or whether a decentralized exchange (DEX) is trustworthy.
The hassles of cryptocurrency trading isn’t the only challenge facing investors; managing one’s portfolio is another one. Most investors have trading accounts on various exchanges, and different wallets to store their crypto holdings. Things like making a trade, spending crypto, and rebalancing your portfolio is a hassle when your holdings span across numerous accounts and wallets.
Create and Manage Your Crypto Portfolio With Midas Protocol
Midas Protocol, a blockchain project based in Singapore, recognizes all of these problems. To address these issues, it aims “to be the smartest universal wallet for all essential crypto needs from safekeeping, intelligent trading, portfolio management, easy conversion to fiat and spending of cryptocurrencies.”
Essentially, Midas Protocol intends to provide a universal solution to store, trade, and spend a wide variety of cryptocurrencies.
A look at the Midas Protocol user interface
This will include tools and services to make crypto trading as intuitive as possible, such as:
- An encrypted, up-to-date wallet with the capacity to store many different cryptocurrencies.
- An intelligent platform to analyze and trade crypto directly from the wallet.
- Locally signed transactions, meaning private keys are never shared with outside parties. This ensures privacy and security for users.
- A leaderboard for users to subscribe to and learn about high-performance investment and trading strategies.
- Ability to directly spend crypto on any website that accepts crypto-payments.
- Newsfeed and mobile notifications to provide users with news and latest developments in the crypto market, curated by AI.
The Midas Protocol platform takes the hassle out of crypto trading by analyzing the markets for investors and placing stand-by orders to automatically buy, sell, or trade a particular coin when the market fulfils pre-set conditions.
A look at the Midas Wallet user interface
By using Midas Protocol, both beginner and expert investors can easily create and manage their own portfolio of crypto assets, in one place.
The Midas wallet allows for storage, and connects with exchanges and DEXs to allow for easy trading. Advanced trading features gives investors the ability and flexibility to better manage their portfolio. And the crypto newsfeed provides users with a curated source of news that can impact their investments.
As the “smartest universal wallet for all essential crypto needs”, Midas Protocol has the potential to accelerate cryptocurrency adoption.
Roadmap
Ultimately, Midas Protocol intends to democratize the crypto investment market by making trading accessible and intuitive. And they’re well on their way to achieving that goal.
With their token sale currently underway, they are working their way towards the alpha launch of Midas Protocol in Q3 2018, which will entail an alpha version of their wallet (supporting BTC, ETH, and ERC-20 coins), basic portfolio management tools, integration with Kyber.network, and a testnet for atomic cross-chain transfers.
Once that has been squared away, in Q4 2018, they will release the beta version of Midas Protocol, which will include advanced wallet (supporting more diverse coins, including Nav, Monero, Nano, and Zerocoin) and portfolio management tools, multi-exchange integration, and testnet versions of the Midas Foundation voting function and reward implementation.
In 2019, the Midas Protocol will focus on fine tuning its tools and services, introducing AI and machine learning, and expanding their community.
The Team Behind Midas Protocol
The team behind Midas Protocol has an extensive background in blockchain solutions, security, and crypto-trading, and they are more than capable in piloting their project through the chaotic field of cryptocurrency.
Dr. David Nguyen Vu, PhD, Chairman and CFO of Midas Protocol, has a stellar history as Chairman of both Blockchain Intelligence Group, where he provided strategic advisory for ICOs, and Regulus Investment and Capital Holdings, which worked with private investment funds. He has also worked as a strategic advisor for BigBom ICO and SuchApp ICO.
Co-founder and CEO Minh Chu was also the co-founder of TomoChain and the Chief Cloud Architect of VCCloud.
Co-founder and CTO Ngoc Nguyen worked as Core Developer for Zcoin, as well as CEO and co-founder of the social network Bee Tech Vietnam.
Midas Protocol also has the expertise of a solid team of advisors familiar with the tech and blockchain fields. These include Victor Tran, co-founder and Lead Engineer of Kyber Network; Dr. Long Vuong, PhD, founder and CEO at TomoChain; Dr. Thuc Vu, PhD, CEO and co-founder of the open innovation platform Kambria.
Partnerships and Advantages
In such a competitive space as crypto portfolio management, Midas Protocol is going to need all the help it can get to stand out.
The good news is that it’s been making waves in Southeast Asia, with a few partnerships under its belt. Thanks to the connections of its co-founders, Midas is already partnered with Regulus, TomoChain, and Kambria, as well as Singapore Fintech Association.
They have also been discussing a collaborative effort with Huobi Pro, the 4th largest crypto exchange in the world, which could really put some weight behind the Midas name.
The Midas Protocol ICO
The Midas Protocol ICO is currently live.
Early investors who buy in before June 10, 2018 can enjoy bonuses, as follows:
- May 25 – 29: 30% bonus
- May 30 – June 4: 25% bonus
- June 5 – 10: 20% bonus
- June 11 onwards: No bonus
Their public ICO is scheduled to run from July 1 to July 15, 2018.
Having hit their soft cap of 5,000 ETH, they’re aiming for their hard cap of 18,000 ETH.
Once 250,000,000 MAS tokens are sold (there will be 500,000,000 in total), the cryptocurrency will be used to fuel and maintain the Midas Protocol ecosystem by:
- Paying for value-added services on the platform
- Following/copying top investment strategies from the Leaderboard
- Paying bonuses to top performing investors
- Funding the Midas Foundation
Final Thoughts
Midas Protocol has a noble endeavor of rectifying the pain points in crypto portfolio management and providing users with a simple, intuitive, universal wallet to store their holdings in.
As their project launches, they’ll meet up with some steep competition, as quite a few platforms are working on tools to help users manage their crypto portfolios and convert funds seamlessly between crypto and fiat.
With so much blockchain experience behind them and in collaboration with such high-profile names, Midas Protocol looks like it has what it takes to make waves in the second half of 2018.
To learn more about Midas Protocol and participate in their token sale, visit their website. You can follow them on Telegram and Twitter, as well as their Medium page, to stay updated on the latest news.
Related: Why Now Is The Best Time To Invest In Cryptocurrencies
