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What is Compound Token? What is this DeFi craze? Is it worth the risk?



Compound Token Review

Compound Token listed on the CoinmarketCap on June 17, 2020 at around $74 then lost XX% value to land at $64 then it quickly shot upto $334 in less than 3 days. At the time of this writing Compound is coasting at around $200.

What is the craze behind this DeFi token? 

If you want to understand What DeFi is, use cases, advantages, etc., click here

What to expect in this article?

  • What is Compound?
  • How does Compound work?
  • How to Lend and Borrow on Compound?
  • How does Liquidity Mining work on Compound?
  • How much interest can I receive?
  • Advantages and Disadvantages of Compound
  • Red Flags you need to consider
  • How to earn interest on Compound using Coinbase Wallet?
  • How to earn interest on Compound using Exodus Wallet?
  • How to earn interest on Compound using MetaMask wallet?
  • How to earn Interest on Compound using Ledger?
  • Conclusion

What is Compound?

Compound is a Decentralized Finance (DeFi) project that allows you to place your crypto assets as collateral to earn interest and even take a loan against your crypto collateral.

There are many DeFi projects out there that let you deposit your crypto to earn interest, however, what makes Compound special is the ability to earn a spread between your deposit vs. your loan while earning COMP tokens. The COMP token is currently trading at over $234 dollars.

How does Compound work?

To get started with Compound you will need to have some crypto.  As of today, the cryptos that are accepted on the Compound platform are:  0x, Augur, Basic Attention Token, DAI, Ether, USD Coin, USDT, Wrapped BTC.

For every cryptocurrency you deposit on Compound platform you receive a receipt of deposit in the form of cTokens. That means, for example, if I deposit Ether on the platform, I will receive cEther. These ERC20 cTokens are proof that you have deposited money on Compound. When you are ready to take your money out, you simply exchange your cTokens for the underlying asset.

You can check how many cTokens you can receive from your crypto assets.

Compound Ether

For example, cETH is valued at .02001216 ETH which simply means that for every 1 Ethereum(ETH) we deposit on Compound we get 50 cETH.  You will always retain this 50 cETH until you are ready to redeem your ETH.  

When you redeem your 50 cETH you might receive 1.1 ETH, the extra represents the interest you have accrued for the time you have supplied your crypto asset to the platform. In theory, cTokens increase in value over time based on the interest that gets accrued into the cTokens.  In addition, you would have accrued COMP tokens throughout the duration of your deposit.

How to lend (supply) money on Compound?

To get started, you need to click on the App button on the Compound website.

Compound finance 01

You will then be prompted to connect with one of your wallets to transfer the funds.  Right now, there are three options:  Coinbase Wallet, Ledger and Metamask.

Compound Finance App

Click on the option that best suits you. Once connected, you can transfer the money into your Compound account.

How to borrow on Compound?

Once you have supplied the assets on the platform, Compound lets you borrow against your collateral.  Generally, there is a collateral to borrow limit, that means, for every $100 you supply to the platform you will be able to borrow a certain % (depending on the asset), in this case, let’s say the limit is 75% then you can borrow $75. 

How does Liquidity Mining work on Compound?

Liquidity Mining is a concept that has evolved in the past year with the DeFi projects. 

Incentivizing users for providing liquidity to the platform is termed as Liquidity Mining.   Liquidity mining replaces the rigs and PoW with the ‘usage of platform and creating value on the platform.’  

Let’s use an example.  For a platform like Compound to run it needs two parties: those who are willing to put their assets on the platform and those who are willing to take loans from the platform.  Because most DeFi platforms require ‘collateral’ to borrow, the users act as borrowers as well as lenders. 

In other words, the users create liquidity on the platform by both supplying their assets and then taking loans against their assets. For creating liquidity on the platform they are rewarded with COMP tokens.  While the increasing price of the COMP tokens is definitely a factor in wanting to access more, these COMP tokens also provide them with ‘voting’ rights so that people who have provided the most to the platform can also have a voice in how the platform operates.  

To avoid 51% attack, Compound keeps 50% of voting rights with the core team while assigning 50% voting rights to those who acquire most COMP tokens by providing liquidity to the platform.  

Bubble in the making?

Some industry voices have raised concern that the Compound’s model of creating value by exchanging one asset to ‘game’ the system to generate more COMP tokens will not sustain in the long term.  For instance, one could take a $1450 USDT loan against crypto collateral of $1500 and receive COMP for bringing their assets to the platform as collateral and for taking the loan. However, some people are now taking that 1450 in USDT back to the platform (as a supply) and taking a loan against this USDT in USDC (for example, $1400), thus getting paid for lending and borrowing again.   

In this situation, the liquidity on the platform will show as if it has a supply of $2950 and lending of $2850, however, in reality the total assets on the platform are only $1500 and total lending is still $2850.  In other words, total asset collateral is much less than the money lent.

And we have only run 1 iteration. People have been playing multiple iterations of this gaming model to inflate the value on the Compound platform.  

This is very close to the broken fractional reserve model that Banks use in the traditional financial markets and having this model in a place that is highly unregulated is somewhat disconcerting.  

Advantages of Compound

Elite team backing the project

This is what distinguishes Compound from other DeFi projects (some may even be superior to Compound) but Coinbase and the VC relationships that Compound has is quite crazy.  This is why Compound got listed on Coinbase so quickly bringing exposure to a big trading base.  

Interest income

The US Banks pay almost no interest on your deposits.  In certain cases, you are charged with ‘maintenance’ fees while the bank turns around and makes money on your money.  The DeFi changes this equation and provides an opportunity for your money to work for you.  DeFi platforms like Compound and Celsius Network help you earn interest on your cryptos.

No lock-ins

The thing we like the most about the up and coming DeFis’ including Compound is that there is no lock-in period.  You will earn interest for the time you held your cryptos on the platform.  You will have complete control on when you get in and get out.


When you are in a fix for some immediate cash but don’t want to sell your crypto wealth – platforms like Compound can be of immense help (don’t forget to look at market volatility aspect below in the disadvantages).

No credit checks to borrow

Traditional financing options are available to people with good credit history.  People who do not have good credit history are penalized with massive interest rates.  DeFi takes away the need for credit checks to borrow money.


Compared to the loan sharks in the traditional market the interest rates on the DeFi platforms are quite reasonable.   The only drawback is that you need to have collateral to avail the loans which is counter-intuitive for many people in need.  In the future, when the non-crypto assets are brought to the DeFi platforms – they could upend the existing loan shark practices with the roots.

Disadvantages of Compound

Market volatility

What happens if there is a flash crash and a quick recovery?  Between March 10 through 12th of 2020, Bitcoin fell from $8000 to $4900, a crash of 40%.  In the next 30 days or so Bitcoin cruised through its $8000 price point.  If you had taken a loan using Bitcoin as Collateral (let’s say you took $6000 against $8000 Bitcoin, when the price tumbled, your bitcoin would have been liquidated to cover the $6000 loan.  You could have lost in the eventual recovery.    The whole point of using Crypto as collateral is to AVOID liquidation of your favorite cryptos but that is exactly what will happen if the market faces a flash crash.  You must be aware of this before putting your assets as collateral.

Same is true if the value of the asset you borrow increases.  For instance, let’s say you put your $1000 in DAI as collateral and borrow Ethereum.  Let’s assume that on the day $750 (maximum loan) was equal to 3 Ethereum at $250 each.  If Ethereum’s price shoots up to $500 each, you would have experienced a partial liquidation since the asset you borrowed has gone over the underlying ‘collateral’.

Auto-Liquidation of crypto

This is a no no for longterm crypto hodlers who never want to liquidate their crypto wealth and if the market takes a nosedive (like it did in March 2020) you will run into the risk of auto-liquidation of your crypto wealth to cover the ‘loan’.  You cannot do anything about it as these smart contracts are executed automatically when the value of your collateral goes to a certain level you agreed to when taking out the loan.

No customer support in case sh*t hits fan

If you run into problems or there is loss of funds either during transfer or after transferring the funds for whatever reason, your options to get help might be limited to none.

Collateral, instead of credit rating

If you have Bitcoin but need USD – you could simply sell your Bitcoin to avail the USDT.  The real value of a loan is where people are short on money.  Compound doesn’t address this market since it needs people to have collateral.  Compound model works for people who have cryptos that they don’t want to dispose of because they expect the prices to go up, as such, they could use a platform like Compound to take care of short-term cash flow issues through a collateral based loan.

Limited crypto options

Compound may add more assets in the future but for now they have limited options which could deter many potential clients from using the platform.  

Meager interest rates for non-Stablecoins

Compound’s model is based on demand and supply.  Since most people want to avail loans in stablecoins like USDT and USDC the volume for those stablecoins is through the roof while other good cryptos lack demand on the platform, this in turn limits the interest rates on these crypto collaterals.

Gas fees

Every transaction on Compound costs you gas (fees in ethereum). You have to keep an eye on the fees you are paying each time you transact on the platform.

Red Flags with Compound to consider

Hacks/future vulnerabilities in smart contracts

You don’t know what you don’t know. This is particularly true about the smart contracts and system vulnerabilities in the crypto space. What happens if someone finds an exploit in the code to mine Comp or what happens if the system is hacked by brute force?  What happens to the coins that are collateralized on the platform?  There were some concerns about the Compound code that was brought to the company’s attention.

Connecting your wallets to withdraw might be risky

You are connecting your Coinbase/Metamask wallets to Compound. What happens if there is a glitch in the contract or someone deliberately attacks through brute force to execute unauthorized transfers?

Not fully decentralized

Don’t let the name DeFi fool you.  Compound aspires to be a fully Decentralized Finance platform in future, however, it is not fully decentralized at the moment.  This means, in theory, the team can override the control on the assets on the platform to walk away with your funds, again this is in theory not that the team will do such a thing.

What happens if and when Comp token value falls down?

People are getting creative and choosing to get paid in Comp tokens.  When people have accumulated Comp tokens and dump it on the market, what happens?  If the value of Comp falls down drastically, it could disrupt the entire model on which the current framework works.

How to Earn Interest on Compound using Exodus?

Earn Interest with Exodus Wallet & Compound Finance

Exodus cryptocurrency wallet now allows users to connect to the Compound Finance DeFi platform, so you can now earn interest on your Dai tokens. ► Want to fi…

How to Earn Interest on Compound using Coinbase Wallet?

You can easily connect to coinbase through compound app and start lending your chosen coin and earn interest.Coinbase compound finance

Compound coinbase

Coinbase compound finance

Source: Coinbase

How to Earn Interest on Compound using MetaMask?

Compound Finance – How to Lend Dai & Eth Tokens | Passive Income

A short video guide explaining the basics of how to lend on the Compound Finance platform. In this guide I’ll take you step by step through every process and…

How to Earn Interest on Compound using Ledger?

Using Compound Finance with a Ledger Nano S | DeFi Security

If you have over $1,000 worth of value in your Compound Finance or other DeFi accounts, you need to add another layer of protection with a Ledger Nano S hard…


Compound is an interesting project.  We are not fully convinced about its future sustainability and for that reason we are sticking with Celsius Network for now until this hype cycle dies down with Compound and then we will come back to test it out for ourselves. 

Many Compound fans might think that we are missing out on an awesome project and they may be right, however, we have decided not to FOMO a long time back even if it means missing out on a few good opportunities.

You do what is right for you.

Thank you for reading and sharing this article. We appreciate you.


Compound Whitepaper

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Is Elrond better than Ethereum? Should I invest?



Elrond Token review

Elrond(ERD) Token Review

Would the modern magic of internet work if we were still using dial ups? If you are from the generation that doesn’t know what a dial up means, it looks like this:

AOL Dial Up Internet Connection Sound + You’ve Got Mail (America Online) 90’s

Take a walk down memory lane and listen to the AOL (America Online) Dial-up internet connection sound and the famous You’ve Got Mail. Subscribe to Adventures…

Essentially, it would take you 30 seconds to 3 minutes to connect to the internet and open a text email.

If you were to load the YouTube website at the 56kbps speeds (considered good in those early internet days), it would take you probably 20 minutes.

We tried to load YouTube at 56 kbps speeds and after 7 minutes we were still waiting for the page to load. Compare that to the broadband that loads YouTube in a split second.

You can test what it feels to browse at 56kbps here.

While it is quite an extreme and dramatic example, I think that is the closest you can come when you try to explain what Elrond is in comparison to Ethereum.

At its current state, Ethereum processes 15 transactions. Compare that to Elrond which processed 35000 transactions during the test net run.

Obviously, the test environment is different compared to the real world.

Ethereum 2.0 could solve some of Ethereum 1.0’s flaws with claims of 100,000 to Million TPS. That is something we have to wait and see.

OK, what is Elrond?

There have been at least 100 Ethereum killers on the market since the birth of Ethereum.  Ethereum (Classic) couldn’t kill Ethereum, so we are not sure others will.

What is Elrond

Ethereum currently has serious scalability and TPS issues. Listen to this clip where Vitalik admits that Ethereum 1.0 cannot scale.

No Title

ICO prospectus: “Build scalable apps on Ethereum.” Mod: “Youre saying the concept of launching something that doesn’t scale then rebuilding it as something thats scalable was part of initial the plan.”Lubin: “We knew it wasn’t going to be scalable for sure.”Vitalik: *nods*

Ethereum 2.0 could be a whole another story.  However, it is not a reality at the time of this writing.

Elrond on the other hand already delivers on what Ethereum 2.0 is ‘aiming’ to.

In a somewhat hyped elevator pitch, Beniamin Mincu, CEO of Elrond, said that Elrond is a 1000x improvement over other protocols in the blockchain space.

In a nutshell, Elrond offers a high throughput blockchain ecosystem that makes use of sharding that ‘scales’ (adapts) with the demand put on the network.

This adaptive sharding helps Elrond to be efficient, secure, scalable and provide a high rate of TPS.

This is why Elrond boasts itself as A highly scalable, fast, and secure blockchain platform built for internet scale.”

ERD Scaling

What makes Elrond Special?

The strength of Elrond, in our opinion, is not in its novel or groundbreaking innovation.

It is in the simplicity of picking the ‘best’ of all the blockchain protocols that preceded and only solve the issues that these protocols failed to solve.

For instance, Elrond picks sharding from Zilliqa but makes it ‘adaptive’.  It picks interoperability from Cosmos and implements it at Virtual Machine level.   

Elrond says it as much in its whitepaper: “Elrond was designed upon and inspired by the ideas from Ethereum, Omniledger, Zilliqa, Algorand and ChainSpace.”

If we are to compare blockchain revolution to the internet, we have to assume that many companies will be replaced by newer solutions. 

Whether Elrond is that ‘next generation’ blockchain or if it will be eaten away by another project is something we have to wait and see.

For now, let’s focus on what Elrond promises that makes it special.

“1000x improvement” over its predecessors

“Elrond is a new blockchain architecture that can bring 1000x cumulative improvement in scalability, throughput, transaction speed and transaction cost,” that is how Beniamin Mincu, CEO of Elrond, explains the project.  


Elrond promises to be able to ‘adapt’ to the scaling needs of the network.  The project uses what is called ‘adaptive sharding’.

For the technically inclined, here an excerpt from the whitepaper:

“Elrond proposes a dynamically adaptive sharding mechanism that enables shard computation and reorganizing based on necessity and the number of active network nodes. The reassignment of nodes in the shards at the beginning of each epoch is progressive and nondeterministic, inducing no temporary liveness penalties.”

Sharding is the process of breaking down a big problem into small ones to solve it faster.


Elrond uses a modified version of Algorand’s Secured Proof of Stake concept.

Secure Proof of Stake randomizes the ‘selection of a node’ so that security is not compromised through 51% brute force.

Elrond goes one step further on this sPoS model where it introduces ‘stake and rating’ criteria to be even eligible to be randomly picked as a node.

Adaptive sharding is the ability to scale up or down the number of shards depending on the transaction at hand.

Obviously, that is a dumbed down English explanation of it, as we understood it.

This makes selection of nodes ‘random’ while taking meritocracy into consideration.

The rating is dynamic and is recalculated at the end of each execution.

ERD Token

Many investors in the crypto space don’t care what the project does if the tokenomics are weak.

  • Transaction fees

Elrond’s utility is acting as the ‘native’ token on the network to pay for the transactions. The more transactions that take place on the network the more Elrond will gain in demand.

  • Staking

Elrond offers crazy returns on staking. This means, there is a probability that many tokens will be locked out of circulation which could boast the price.

  • DApp Deployment

Like any other blockchain network, Elrond token acts as the ‘utility’ on the DApps deployed on the network.

  • Validator reward

Validators are rewarded for their work and Elrond token is used in disbursing these rewards.


Crypto space is excited about the team that is involved in the Elrond project.

Just looking at the profiles of CEO, COO and CIO showcases that you are not dealing with a group of wannabes.

Elrond Team

The team brings in the right mix of technical prowess and business acumen.

Many blockchain projects either lack a strong technical forte or suck at running the business.  Elrond may not have that problem due its ‘experience mix’.

Partnerships and Integrations

This is one project that is making a lot of buzz in the past two months, with continuous updates and partnerships. Here are a few:

ERD and Indacoin

ERD and Indacoin

Indacoin is a fiat gateway with over 500K users which allows users to buy crypto with Visa or Mastercard using USD, GBP, EUR and many other currencies.

ERD and dfinance

elrond and dfinance

Elrond will work together with dfinance to enable users to build Elrond native assets as well as allow Elrond users to access DeFi platforms on dfinance.


Elrond and EDV

ERD tokens are now available on LDV, a Romanian crypto exchange and a fiat gateway. ERD/EURO and RON/ERD pairs will be available on the platform.

ERD and

elrond and

Users of can now buy ERD token on their app. is considered one of the easiest modes of buying and selling crypto. With deposits and withdrawals of erd token enabled on, the token is now available for over 3 million users of

ERD and Utrust

Elrond integrated with one of the leading payment gateway for ecommerce, Utrust.

ERD and Swipe

Swipe partnership elrond

ERD is partnered and now available on swipe, a multi currency digital wallet. Swipe has over 500K users.

The other partnerships and integrations include Stateless Money, Staked, Moonpay, FinNexus, and many others.

Elrond is gaining traction fast and furious. Will it amass enough steam to surpass other blockchain protocols?  

We have to let the time answer that question.

ERD Token Metrics

ERD Token Metrics

Source: Elrond

*These token metrics are about to change after the EGLD swap.

Some pump and dump chat

You will notice that Elrond is showcased on the Samsung official video introducing Samsung Blockchain.

Samsung Blockchain wallet elrond

First and foremost thing everyone is excited about is its mainnet launch. 

We believe the rise in price is not just because of its mainnet launch, but also the high staking rewards that are expected to yield after the mainnet launch. 

With over 5 Billion ERD tokens already staked during the testnet, it is possible that more users will stake their tokens for passive income.

Risk factors

Late to the party, not to the town!

There are a lot of blockchain platforms in the blockchain space. Many promise sun and the moon with 100K to a million transactions per second.  

Most of these promises are just that as of now, promises.

Elrond is late to this TPS race, however, it could do what others have failed: Actually live up to its claims on the Main net.

In this sense, Elrond is late to the TPS party but it is not late to ‘make a mark’ for itself in the blockchain town.

More advanced projects in the space

What happens when Ethereum addresses its TPS issues, scalability aspects and makes it incredibly easy for people to launch DApps?

Ethereum already has a massive penetration in the space that it could leverage.

Beyond Ethereum, there are other projects like Zilliqa that could pose stiff competition to projects like Elrond.

And, do not forget Cardano, a project that is preparing its arsenal for a hostile takeover of the crypto space.

What is a head in Elrond’s Roadmap

Elrond Roadmap

Source: Elrond

Elrond Swap


With the launch of Elrond Mainnet, Elrond token (ERD) will be swapped for Elrond Gold (EGLD), at a 1000:1 ratio. Simply put if you hold 10,000 ERD tokens, it will be swapped into 10 EGLD. In terms of price, if the current price of one ERD is $0.024, the price of 1 EGLD (*1000ERD) will be $24.
Elrond has garnered quite a lot of buzz before the mainnet, now it all comes to how the project is going to progress beyond mainnet.

How to swap ERD

As per their official Telegram channel, exchanges are making preparations to support Elrond swap to Elrond Gold.  The tokens will be swapped in about 30-60 days and the ERD(ERC20, BEP2) will be replace with eGLD. Check with your exchange and look out for communication about the swap support. Till then, ERD trading will run as it is over the exchanges.

Pros of Elrond Token Swap

The swap is expected to reduce the current total volume of 21 Billion ERD tokens to 20 million eGLD and to 30 million over the next ten years which in theory should make the coins dearer.  How this will work in reality is something we have to wait and see. Case in point but in reverse is VeChain, which was trading at $9 before the swap at the ratio of 1:100 and the price dropped so low that it has not yet recovered.

Cons of Elrond Token Swap

In our opinion, it is easy for a coin to jump from 1 cent to 2 cents and 2 cents to 4 cents, however, there is a psychological barrier from investors to let a coin trading at $20 to move to $60. However, if you see from a percentage, the underlying gains are the same. 1 cent to 4 cents is a 400% jump, however, it will take a lot for a $20 to jump to $80. If Elrond proves its value in the blockchain space then the project may pump in spite of the denomination.
Thank you for reading and sharing this article. Stay safe and healthy!

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Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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V-ID is bringing real world use case to Blockchain, can it succeed?



Vidt Token review

VIDT Review, use cases, future prediction

What follows is the byproduct of our research on whether or not V-ID is a good project.  

We have a tendency to FOMO, so read everything with a grain of salt and always DYOR.

What is V-ID?

Anything digital can be altered. How then can you be confident about the authenticity of the digital files you are dealing with?

“V-ID is a blockchain powered document certification service. The VIDT API enables organisations to certify and secure their digital data against fraud and manipulation.”

You can tag digital files using V-ID and anyone around the world can verify its authenticity by simply using V-IDs free checker.

If any information is changed within the file, V-ID flags it.

This technology has an immediate use case in the real world to fight digital frauds. Especially in dealing with:

  • Invoices
  • Scientific papers
  • Contracts
  • Official documents
  • Diplomas/certificates
  • Data from Internet of Things

Watch this quick video to learn about V-ID.

Introduction to VIDT V-ID Blockchain Powered Validation

The V-ID validation service uses blockchain technology to end all document fraud. Our client base, with customers like Airbus Space & Defence, operates in va…

Take a simple example of purported crypto ‘recommendation reports’ that float on the internet. How do you know they are what subscribers were given?

How can you be sure that the document is not manipulated by someone to ‘alter the buy up to and sell at’ prices?

In this simple situation, using V-ID, one could verify the authenticity of the document.

In a world of Deep Fakes, a solution like V-ID can be a lifesaver.

How big is the problem that V-ID solves? 

According to the Javelin Strategy report, Identity fraud cost $16.8 Billion dollars in 2019 alone.  

Obviously this includes credit card and account takeover frauds. However, when a solution like V-ID becomes integrated, there is an opportunity to curb these identity thefts as well.

Fraud Detection and Prevention which was valued at $17.33 billion is expected to grow at an 18% (CAGR) rate from 2019 to 2025.

The more diverse our technology becomes with the advent of Internet of Things, Artificial Intelligence, Cloud Computing, Augmented Reality and reliance on smart mobile devices, the more we grow vulnerable to fraud.

In our opinion, the fraud space is only going to grow bigger and faster.  

V-ID has an opportunity to place itself as a reliable solution by leveraging the blockchain’s resilience.

VIDT Technology

Source: V-ID

Using V-ID

Any solution’s success will depend on its ‘ease-of-use’. We tested the V-ID ‘certification’ to get a taste of the platform.

When we scanned the QR code of the document, it took us straight to the document where we could easily verify that it was indeed ‘authentic’.

The ease at which you can verify someone’s credentials, certifications, diplomas, etc., is simply awesome.

Users can verify the authenticity of other documents through their free online checker. Obviously, the company has to be signed up with V-ID for the documents to be ‘stamped’ on blockchain.

V-ID promises verification in 5 seconds.  Here is a video that shows how the verification works.

VIDT V-ID verification live demo

The V-ID validation service uses blockchain technology to end all document fraud. Our client base, with customers like Airbus Space & Defence, operates in va…

All in all, the concept behind V-ID is quite simple and easy to use.  

This ease of use accompanied by an amazing use case is what forms the basis for blockchain’s adoption.  The tool makes you forget about the blockchain altogether.

Does V-ID need Blockchain?

Yes. We think V-ID has a blockchain use case.

When it comes to providing a hack-resistant environment and resiliency to the underlying system, blockchain really shines.

The V-ID makes use of blockchain the backend without inundating the end users with the intricacies of ‘how blockchain works’ is quite admirable.

“Currently V-ID offers anchoring in Ethereum, Bitcoin, IBM Hyperledger, Fantom, LTO Network, Digibyte and Binance Chain.” 

For V-ID, in our opinion, Blockchain is not just a fancy jargon to allure people to the project but rather it is a smart technology choice to meet the business objectives.


Vidt Team

Source: VIDT

Marnix van den Berg, Founder & CEO, has over 17 years of experience.  He is supported by 3 other Founders on the project.

Pim Voets is the Founder and Lead Concept Design, Ceciel van Helden is the Founder and Lead Programmer, Wico van Helden is one of the Founder.  

The teams section of the website shows about 9 team members and 6 advisors, including Chris Robinson, Ex-CTO of American Express.  

Just between the 4 founding members have a combined experience of over 70 years. Wico van Helden has hands-on experience in taking a company IPO.

Progress, Case-studies and traction

V-ID has been associated with many brands.  They showcase few case studies on their website:

VIDT Case study

AMSPEC is using the V-ID technology to verify the authenticity of their inspection reports

How AmSpec protects data integrity with V-ID

Amspec has started to utilise V-ID blockchain validation technology to protect the authenticity of their inspection reports. This means that recipients of a …

V-ID made history by bringing 17th Century Rembrandt to the blockchain.  This verification was made possible with CMS Law acting as notary, collaboration with Duowes Fine Arts and V-ID.  

VIDT Rembrandt on chain – V-ID collaboration with Douwes Fine Art and CMS

For the first time, V-ID’s validation platform, known for securing digital files against manipulation, extends its activities into the physical world, by val…

V-ID is bringing certificates and diplomas onto the blockchain.  To this end V-ID has collaborated with NYENRODE and HBO Drechtsteden.

V-ID successfully installed the first IBM Watson-connected IOE sensor with V-ID data anchoring.  

IBM & V-ID install first IoE sensor on IBM NL headquarters’ roof

V-ID partners with Caltrix Consultancy to offer a tailored solution for any financial organisation to comply with KYC/AML challenges. 

LTO Network and V-ID entered into a partnership by rolling out an immediately applicable, GDPR-compliant blockchain solution for companies and governments. 

This alliance allows for any party to verify the authenticity of the diamond using the certificate, and the authenticity of the certificate using the V-ID service.

The brands with which V-ID has worked with and the diversity of the projects they have been involved in bring a lot of confidence in this project, in our opinion.

Price – Revenue Model

Companies need cash flow to sustain and grow. It is important to have a revenue plan for the company to thrive.

V-ID offers 3 different pricing options that you can see below.

VIDT Price chart

Euro 2 per file may seem like a big deal but companies have the option to use the verification only for sensitive documents.

For example, on invoices or contracts, to ensure authenticity.  

Challenges to consider

Icon Latest UpdatesOne of our favorite projects, ICON, also rolled out the Broof concept which helps organizations verify certification.

Blockchain projects, like ICON, with existing capabilities could potentially ‘extend’ their solutions in the verification arena.  This could pose stiff competition.

The verification problem is so big that it can accommodate more than one player, however, the more players you have the more it dilutes the upside potential.

What Blockchain identity verification will not solve!

Demand for counterfeits

When all is said and done, counterfeits exist because they have market demand.  Without demand a product doesn’t sustain long.

There are millions of people who want to experience luxury on budget, by choice or because of lack of choice.

The projects like V-ID cannot solve the counterfeit market for those who specifically seek them out.  

However, the project does solve the ‘authenticity assurance’ demand for people who are paying the full price for the genuine product.

Market for ‘copies’

Digital products have an amazing advantage which is its major flaw and that is: it can be replicated without much effort.

If someone is deliberately seeking out for a pirated copy of something, there is so little you can do.

VIDT, Coinmarketcap and where to buy and sell?

V-ID Blockchain has its own native crypto with ticker symbol: VIDT.

We have to specify this because there is another project on coinmarketcap with VID symbol and we had few folks who seemed to be confused.

At the time of this writing, VIDT was ranked at 224.

At this time, you can buy and sell VIDT at KuCoin.

In conclusion

Blockchain finds a great ‘real-life’ business use case in V-ID.  

The association of the project, even if indirectly, with big brands like IBM, AirBus and more is just a testament to the viability of this solution.

While it may be possible for other projects to try and emulate the V-ID solution, the focus and dedication of the V-ID team could put up a mighty fight, in our opinion.

Ultimately, the problem of fraud is quite big and could easily accommodate success of multiple players.

In the end, we are coming to the same opinion about V-ID that Chris Robinson, ex-CTO of American Express, did and that is “V-ID is a rare combination of 3 things — A great idea in a large and almost green space market. A company with a proven track record and real-world customers. And, finally, an exceptionally high quality team and advisors.

Thank you for reading and sharing this article. Stay safe and healthy!

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We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Crypto News Today #43



breaking crypto news

Cryptocurrency Weekly News

What a week for the crypto bulls to come out!

Bitcoin performed exceptionally well and all the hibernating Crypto bulls spewed their predictions all over the internet.  

The hype frenzy was quite unreal and we are worried about the newbies that might buy into the hype and get in at the peak.

While most hypers were hibernating, we are keeping our calm and tracking the crypto space for the past 4 years.

If you want to see all that contributed (and continues to contribute) to the Blockchain, Bitcoin and crypto adoption – you just have to see the most important news since 2017.

In the spirit of continuing the tradition of keeping up with what matters, let’s dive into this week’s digest!

Brave and Guardian bring Firewall and VPN to iOS

brave-logoBrave Privacy browser that supports the Basic Attention Token (BAT) has partnered with Guardian to bring Firewall and VPN capabilities to the Brave Browser on iOS platform. In an announcement, Brave team disclosed that “with this partnership, the companies are integrating their technologies to enable the fastest, safest, most private Web browsing experience. Brave now offers Brave Firewall + VPN, available for download from the App Store. This partnership allows people to take back control of their own data, browse the Web, and use their apps more safely and securely.”

Ledger market data breach

Ledger Nano S reviewUnauthorized third party access using an API Key has compromised the contact and order details at Ledger.  A total of 1 Million email addresses might have been compromised. According to the official statement “Contact and order details were involved. This is mostly the email address of our customers, approximately 1M addresses. Further to investigating the situation we have also been able to establish that, for a subset of 9500 customers were also exposed, such as first and last name, postal address, phone number or ordered products. Due to the scope of this breach and our commitment to our customers, we have decided to inform all of our customers about this situation.”

Coinbase explores [more] new digital Assets

coinbase best exchangeCoinbase is exploring more digital assets to add to their platform.  These 19 digital assets include, as per the official post,  Ampleforth, Band Protocol, Balancer, Blockstack, Curve,, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC. Obviously, there is no guarantee that all of these tokens are going to be added but it is quite interesting to see some of the good projects making the list.

Putin signs Crypto bill into law

Russia just passed a bill that will allow the companies in Russia to issue digital assets as long as they seek and procure approval from the Bank of Russia.  According to Reuters (translated) “They can be an object of collateral, purchase and sale transactions, exchange of one type of digital asset for another. At the same time, CFAs are not and are not recognized as a means of payment.”

SEC Wants to Start Scrutinizing Binance Chain Transactions

sec crypto regulations“The Contracting Officer has determined that CipherTrace Inc., is the only source that can reasonably meet the SEC’s requirement […].  CipherTrace products are the only known blockchain forensics and risk intelligence tool that can support the Binance coin (BNB) and all tokens on the Binance network.,” read the official statement issued by the SEC.  This makes it clear that the transactions that people have conducted on Binance assuming they are ‘immune’ from the US government’s scrutiny are going to be surprised by what follows.

Cardano mainnet launched

cardano staking newsCardano has successfully launched its mainnet and introduced its ‘Staking’ phase ‘Shelley’. The entire crypto community has been eagerly waiting for the launch and has received the upgrade quite positively with Cardano (ADA) price coasting at 13 cents. Generally, when the community is not happy with the upgrades and mainnet launch, it tends to show in the negative price action. The stabilizing price movement indicates that the Cardano community has welcomed the mainnet launch.

Thank you for reading and sharing this article. We appreciate you.

We have been tracking the most important news in blockchain and crypto space since 2017. You can check out all the chronicled news here.  

Consider subscribing to our newsletters to receive these news updates in ONE neat email per week along with other freebies that we give away once-in-a-while.

Thank you for reading and sharing this article. Stay safe and healthy!

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We never
spam your inbox and we only send one email per week
with updates, news, eBooks, tax updates, and more!
knowledge, not spam!  Subscribe here.

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Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Sure Weight Loss


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