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Syscoin (SYS) Analysis

Market Cap

$19,032,700 USD

Volume (24h)

$560,436 USD

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4.1
SAFETY

Ranking factors:

  • Markets

    How many exchanges are there to trade this coin?

    Syscoin Markets Rank: 6/100

  • Volume Ratio

    How actively is this asset being traded on the market?

    Syscoin Volume Ratio Rank: 3/100

  • Market Cap

    The total cost of all coins available.

    Syscoin Market Cap Rank: 95/100

  • 24h Change

    Is the price moving up or down?

    Syscoin 24h Change Rank: 49/100

  • Social Following

    How many users are following this coin?

    Syscoin Social Following Rank: 93/100

  • Google Trends

    How many users are searching for the coin?

    Syscoin Google Trends Rank: 1/100

  • Twitter Citation

    How many users are talking about this coin in Twitter?

    Syscoin Twitter Citation Rank: 69/100

  • User Voting

    How popular is this coin among Cointobuy community?

    Syscoin User Voting Rank: 92/100

Syscoin investment analysis

SYS is a low transaction cost coin that is also part of a cryptocurrency based business platform. Your Syscoin investment will allow you to buy and sell items on the blockchain using the included decentralized e-commerce platform.

They also provide the use of "aliases" to help alleviate the pain of using long wallet address strings to send and receive payments. Their platform includes an escrow service that allows you to have a third party arbitrator oversee your trade to up the buyer confidence level of their system as well.

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Syscoin investment price
$0.032249
Syscoin expected 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.

+32.2%
Syscoin 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.

$0.04264
Syscoin Rating

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

139/2551
by Safety
1883/2551
by Profit
historical data

How to buy Syscoin?

If you're looking to buy Syscoin is can be done on several popular exchange platforms. Bitcoin is the most popular trading pair, and this option will most likely provide the best token price for you when making a purchase since it has the most volume.

To store your tokens you can do so using the Blockmarket desktop application. Your wallet for SYS will be integrated into this platform, which is actually pretty slick looking. If you don't have an interest in using their platform yourself for buying or selling you can also store your tokens in the Coinomi mobile wallet.

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Is it safe to invest in SYS now?

Initially, I was underwhelmed by Syscoin's appearance. There are tons of other more established marketplaces already in existence like OpenBazaar or eBay auction clone Bitify. However, after digging a little deeper they do have some interesting features not present on other platforms.

Unfortunately, most people will not look that far to find these gems which could be a problem for them. A coin's website is often the first place someone goes to find out about a project, and theirs could use some real work.

There is one other problem. As much as I love the idea of a decentralized marketplace like this it's very, very difficult to get people to actually download a program to visit a market. There's no "website" where you can browse items without downloading anything, and this is a huge barrier to overcome.

Competitor Bitify, while not decentralized allows people to browse without downloading anything, and it has the added benefit of more search-ability thanks to listings being indexed in Google. This will be a large paint point for the adoption of the SYS service.

That being said they do have some very appealing features. As previously stated, I was surprised with how nice their blockmarket application is. Having everything integrated together is very convenient. It's easy to use too. Sorting through items to purchase is much easier than some competitor applications.

They also allow the use of aliases. These allow you to register a wallet address to a much easier to remember the name for sending or receiving payments. This will be a desirable feature for mainstream users, and other platforms don't have it yet.

For the privacy advocates, they allow the use of a totally decentralized marketplace with encrypted messaging that can't be shut down. This is a peer to peer platform, and to create listings you must host them on your own computer using the application. The distinct advantage of this is that there's no central website to be removed. The disadvantage is that as I said before, it's difficult to get people to use a system like this.

In short, I really like the blockmarket application, and the ease of use their product offers. However, I have some reservations about whether mainstream users will ever adopt something they have download like this to make purchases. They also have some competitors who are much farther ahead than they are.

Though with a little facelift, and the right marketing SYS might be a real competitor. Will it become the place to go if you want to buy or sell for cryptocurrency? It's too soon to tell, but I'll keep an eye out for this one before I decide to write it off completely.

If they keep innovating on user-friendliness and give people a real reason to use their platform they could give themselves some ground to stand on. If you plan to invest in Syscoin be prepared to hold for the long haul. Great things take time and patience.

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Comments (2)

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Richie 4/29/2018

I did some research and found out they made several updates in their infrastructure. New features planned for the Syscoin 3.0 release which will give it's smart contract some similarities to Ethereum and allow other blockchain based project use some of its functionalities for their own ICOs. The continuing development may not sustain the Syscoin's price surge indefinitely, but certainly provides a concrete platform from which the development team can build.The thought of seeing these coin share some features with ETH, even though I really don't understand how much they share at the moment, is really mouth-watering, and makes it a place to look out for when looking out to invest.

Danlo 4/22/2018

Hey bro. I just wanted to correct some misconceptions in your "IS IT SAFE TO INVEST IN SYS NOW?" section. Unlike OpenBazaar, Syscoin does not require a listing to be hosted on a user's computer. You have to use the application to create a listing, but then it gets saved to the blockchain and remains there indefinitely.