One of the most difficult tasks in financialsphere is to determine the reliability of the organization for cooperation. For the young crypto industry, this issue is even more pressing than for regulated traditional markets. Therefore, investors and traders need convenient tools to study the profiles of companies offering financial products or services. The first such service for the crypto market was WikiBit.
Features of the project
WikiBit is an open platform that collects basic information about the activities of organizations, related to blockchain or digital assets, whether they have the necessary licenses, solvency, the degree of regulatory oversight, the level of risk of the proposed products and dozens of other criteria.
The main sources of data aggregation arepublicly accessible government databases in more than 30 countries and exposure of fraudsters by auditors. All verified information, combined with user reviews, traffic analyzer systems and computer models, allows you to form a comprehensive assessment of the security level of each listed project.
The platform does not post advertising publications, does notcharges fees for ranking or reviews as it is designed to help investors and traders avoid fraudulent trading platforms and scam projects.
At the moment, the tool has already combined data on more than 5837 exchanges, 8364 tokens and 26 regulators around the world. So far, the platform has no analogues.
Areas of reliability assessment
On the site, all information is divided into several main blocks:
- project ratings;
- checking and exposing auditors;
- black list;
- cryptoindustry news;
- user reviews.
In the block of ratings for each of the projectsa brief description of the key characteristics, an average rating, all known problems and negative aspects in its activities is carried out. Related reviews and news are also displayed at the bottom. This block is divided into three categories: exchanges, tokens, blockchain projects.
The block of disclosures describes the results of personalcompany office visits by WikiBit employees. The reality of each review is confirmed by photographs with the platform logo in the hands of the reviewer. The auditors assess the situation and the staff in the office at the legal address of the project, and based on everything they see, they make an expert opinion.
All tokens and blockchain projects with low valuation,compromised or untrustworthy, collected in a separate blacklist. Although its design is identical to the rating block, each description in large print contains a warning about suspicious aspects of activities and a potential high risk of cooperation.
User feedback database
This section deserves special attention.because it aggregates complaints from clients of organizations. Most negative reviews are accompanied by photographs confirming violations. All complaints are divided into several types: problems with withdrawing funds, fraud, and more.
Reports of serious violations may be the basis for the visit of the auditor to the office of the said company.
In addition to publicly available ratings and reviews, WikiBit also has closed materials and analytics, access to which is opened by a VIP subscription.
To use the resources of the platform at any convenient time, you can download the WikiBit mobile application in the App Store, or by clicking on the platform logo below.
From the main site, you can go to the terminal page based on TradingView charts with prices for over 200 cryptocurrencies and tokens.
The platform has a separate section dedicated tothe world's largest bitcoin trust Grayscale. It contains a wealth of analytical information with charts for asset allocation, current positions and rates.