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Cryptonex (CNX)

Market Cap

$93,220,413 USD

Volume (24h)

$2,004,097 USD

3.8
SAFETY

ranking factors

  • Markets

    How many exchanges are there to trade this coin?

    Cryptonex Markets Rank: 3/100

  • Volume Ratio

    How actively is this asset being traded on the market?

    Cryptonex Volume Ratio Rank: 2/100

  • Market Cap

    The total cost of all coins available.

    Cryptonex Market Cap Rank: 97/100

  • 24h Change

    Is the price moving up or down?

    Cryptonex 24h Change Rank: 51/100

  • Social Following

    How many users are following this coin?

    Cryptonex Social Following Rank: 65/100

  • Google Trends

    How many users are searching for the coin?

    Cryptonex Google Trends Rank: 1/100

  • Twitter Citation

    How many users are talking about this coin in Twitter?

    Cryptonex Twitter Citation Rank: 51/100

  • User Voting

    How popular is this coin among Cointobuy community?

    Cryptonex User Voting Rank: 95/100

Cryptonex investment analysis

CNX is a proof of stake coin that has among its goals the ability for users to exchange any world currency for the cryptocurrency. Their roadmap also has plans for debit cards and integration with financial institutions.

While the ideas on their roadmap sound appealing they don't currently have a working product of any kind, and they aren't really doing anything that others have not already started doing, but better. At worst, a Cryptonex investment is wasted money on a possible scam coin. At best it's simply a mediocre pipe dream.

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current price
$2.05
Potential Profit

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing possible profit rate in the coming months.

+326.1%
Potential Price

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing the possible price in the coming months.

$8.74
Rankings

The current coin position in cryptocurrency rankings by Safety Rank and Potential Profit.

155/878
by Safety
515/878
by Profit
historical data

How to buy Cryptonex?

You can purchase Cryptonex on a relatively small number of exchanges. All of them are ones that I tend to avoid due to issues with how they are run. They have their own exchange which seems to show zero trade volume which is a red flag for me to stay away, but should you wish to buy some coins there is at least one option with some trading volume. They also have an option to purchase it from them directly, but the process seems very shady.

If you need a place to store your CNX tokens you can use their desktop wallets for Linux, Mac or Windows. They do not currently have a mobile wallet available. Keeping coins on any exchange but especially the ones this asset is listed on is not advisable. Many smaller exchanges have a habit of going down without warning, and if they do you very well may never see your money again. If you do need to use one of these exchanges; purchase your coins, and then immediately transfer them to a safe wallet in your possession.

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Is it safe to invest in CNX now?

At best, Cryptonex is a mediocre coin. I can't seem to understand how they've achieved the market cap that they currently have because they haven't really done anything. While they make a lot of promises in their roadmap they've yet to actually deliver on any of them, and their presentation isn't even very impressive.

For a coin claiming to be able to work with so many high-level financial institutions, they have not invested any time or money in their website or branding which is pretty off-putting. While I am all for community-based tokens the fact is that it takes a certain level of professionalism to execute the type of deals this project needs, and I don't think they have it in them.

In fact, I question the legitimacy of the team they supposedly have working for them. I won't say this coin is a scam, but others are certainly making those accusations. I would personally not feel safe to invest in CNX in its current state.

Even if you did believe that they were legitimate the fact remains that they aren't really doing anything new. While there's certainly merit to Crypto debit cards and expanded access to the ability to purchase tokens with fiat currency it's being done by many, many much larger startups now.

Far bigger players than CNX have tried to break into the crypto bank card market, and they've had massive problems with regulators doing so, even with hefty connections and experienced advisors at their disposal. The ones who are succeeding are however doing it much better than Cryptonex.

If you'd like to invest in a token working in this space there's a lot to choose. TenX, Monaco, and OmiseGo to name a few of the big players. These projects have better branding, more funding, better development teams, and an overall better platform for their users.

I just don't see how CNX would ever compete with these gigantic projects. Not to mention providers like BitPay and Coinbase who are already offering much of what this currency wants to achieve.

On their website, they spend a lot of time trying to convince you that they have a large following and equally large growth potential, but I feel this is likely being manipulated. Their empty website and their social media full of either spam or people angry about not being able to use their airdrop tokens all seem to say. "Move along folks. There's nothing to see here".

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Comments (1)

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Melissa 5/25/2018

Any “up to no good” coin, with a shitty idea, can soar high in the market, especially when the team behind the project understands the market. However, regardless of how grand or trivial the solution a blockchain base project brings, I think if they have gained some reasonable followership in the audience, then they deserve some credit. Given this project, what I can pinpoint is it lets you trade your token for fiat money. It’s a kind of decentralized exchange nothing more. Bringing in more currencies into their menu will go a long way in boosting its relevance, popularity, and hence its value. This is a welcome development and one that has room for increase. Well, I am still watching.