Factom (FCT) Analysis

Market Cap

$13,001,111 USD

Volume (24h)

$3,959 USD

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3.4

SAFETY

Ranking factors:

Markets

How many exchanges are there to trade this coin?

Factom Markets Rank: 4/100
Volume Ratio

How actively is this asset being traded on the market?

Factom Volume Ratio Rank: 1/100
Market Cap

The total cost of all coins available.

Factom Market Cap Rank: 91/100
24h Change

Is the price moving up or down?

Factom 24h Change Rank: 51/100
Social Following

How many users are following this coin?

Factom Social Following Rank: 95/100
Google Trends

How many users are searching for the coin?

Factom Google Trends Rank: 1/100
Twitter Citation

How many users are talking about this coin in Twitter?

Factom Twitter Citation Rank: 4/100
User Voting

How popular is this coin among Cointobuy community?

Factom User Voting Rank: 92/100

Factom investment analysis

FCT is a blockchain platform that allows the storage and validation of documents. It records entries in a unique list that distributes a copy of the documents to everyone involved in the transaction. However, these entries can not be tampered with or altered after they are added to the list.

This type of setup is meant to be used as an audit trail for businesses that need to maintain integrity in their chain. Your Factom investment is a decentralized, distributed protocol that is run on top of bitcoin. FCT is a platform for global data integrity.

$1.38

+45.9%

$2.02

451/3235

by Safety

2312/3235

by Profit

How to buy Factom?

You can buy Factom on several top exchanges. The most abundant trading pair for this coin is for Bitcoin, but it also has Ethereum pairs on a few exchanges should you wish to exchange these tokens instead. The volume, however, is heavily slanted toward the Bitcoin pairing though so it most likely will offer the best deal for your purchase.

The only options at present for storing your coins is either through the official wallet for the project or through a paper wallet. A paper wallet is the most secure option as your coins cannot be stolen. However, the official software wallet will give more convenient access to your assets.

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To invest in FCT is to invest in businesses all over the world. The need to validate and secure documents is an ever-present problem, and audits are made constantly to ensure the integrity of documents, supply, and many other records in the business world. A blockchain solution to this problem could save an enormous amount of money by making older auditing systems redundant.

In a legal environment, the FCT system can perform a few important functions. Firstly, it can prove that a document existed in one form at a certain time. Secondly, it can prove that a document existed, and was then linked to a newly updated document. Last, it can also verify an updated document.

All of this is stored on the blockchain's ledger where it can't be tampered with. In order to perform these actions, users will be required to purchase "Factoms" the currency of the chain to complete tasks.

This project has already attracted a lot of media attention and for good reason. It solves a very large paint point for scaling businesses. They've had write-ups from The Wall Street Journal, Reuters, Business Insider, and many other premium business publications.

In fact, this could be a blockchain company that helps show many skeptics exactly what the blockchain is capable of. This technology is no longer just a speculative asset, but a serious tool to be used in our everyday lives.

Factom has a solid development team that has consistently hit their project goals. They also have a strong following on many social media platforms, and they do a good job at keeping their followers updated on what's happening with the project.

While there are quite a few other blockchain products working towards similar goals I think that FCT comes off very strong on their proposed solutions. They've attracted attention in all the right places, they're on track with development, and they've branded themselves as a professional project deserving of the business world's attention.

In the next ten years, I wouldn't be surprised if many businesses you patronize every day are using their system to audit their documents and to communicate better with all of their branches and employees.

CEO Paul Snow is a long time cryptocurrency advocate who has spoken on behalf of the blockchain to the US Senate. As the main face behind this project, he seems to be making the right moves and acquiring the right connections to move this project into the limelight.

The FCT business model is a simple one. You send data. They verify data, but out of that simplicity comes something much bigger. That simplicity turns into a potential fortune in savings both monetary and time-wise for almost any industry that needs a way to make their chain more efficient. I have a feeling that in a few years this may be a very valuable asset indeed.

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