BasketCoin profile
BasketCoin Profile (BSKT)
Score: 2.06 | Very Poor
Speculative Nano Cap
Project Safety Score

Wed, Dec 1, 2021 7:56 PM

Score 2.06
Rating Very Poor
Market Cap $0
24hr Volume $3696.62476368
Price $0.10776783327157
Review

BasketCoin

token

Ethereum

"Deflationary token, secured with a basket of cryptocurrencies, with the possibility of staking. BasketCoin is: Deflationary, With collateral - covering its value, With the system of repurchase and burning of BSKT tokens. A fee of 2% of the value of each transaction will be taken from the transfer - half is burned out, the other half goes to the staking/reward redistribution pool which indeed speeds up the process of reducing supply. Smart Contract itself assumes that a total of 90% of all BSKT will be burned -> supply will decrease from 21,000,000 to 2,100,000 The BSKT token is secured with a basket of seven cryptocurrencies that cover its value. The security so adopted is intended to ensure a constant and stable increase in the value of tokens. Thanks to the correct match of coins in our basket, its value is less susceptible to fluctuations appearing in the cryptocurrency market. The BSKT token security chart looks like this: Bitcoin (BTC) – responsible for 25% of the value of the coverage, Ethereum (ETH) – responsible for 25% of the coverage value, Polkadot (DOT) – responsible for 10% of the coverage value, Smarkey (SKEY) – responsible for 10% of the coverage value, YfDAI.finance (YF-DAI) – responsible for 10% of the coverage value, USD Coin (USDC) – responsible for 10% of the coverage value, Basketcoin (BSKT) – responsible for 10% of the coverage value. All listed cryptocurrencies that make up the BSKT basket will be used to generate additional profits on platforms such as: Crypto.com (profits of 3%-12% APR), YF-DAI (profits up to 72% APR), Swissborg (profits up to 20% APR), and other decentralised profit-generating platforms in DeFi format. Revenues from these platforms will be used in the repurchase process for the redemption and burning of BSKT tokens, contributing to a significant reduction in supply on the secondary market. 90% of the above profits will be used for repurchase and burnout, while the remaining 10% will be used for ongoing and necessary expenses related"

Read more in the whitepaper:
https://basketcoin.io/BasketCoin-WhitePaper_EN_v_2_7.pdf

BasketCoin Smart contracts and audits.

Below are the available smart contract addresses and any associated contract audits.

ETH: 0xc03841b5135600312707d39eb2af0d2ad5d51a91

BasketCoin Project Statement

Project statements are provided by senior members of the project team and serve to tell the reader why the project has honorable intentions and why is definitely not a scam.

Please get in touch to submit a project statement for this project. Emails must be sent from official domain email addresses and will be verified before being accepted.

Full Report

BasketCoin Safety Report

BasketCoin has a safety score of 2.06

BasketCoin is a nano cap token.

BasketCoin is suited to a speculative investment style.


BasketCoin Profile

This profile has enough data to perform a thorough analysis. But any missing data will have a negative impact on the overall rating.

Missing Data:
  • bitcointalk thread
  • tradingview profile

BasketCoin Red Flags

There are currently no BasketCoin red flags.


BasketCoin Development Score

The BasketCoin project has 2 active source code repositories.

There have been no commit to any of this accounts repos

  • 5 Watchers
  • 1 Star
  • 4 Mentionable Users
  • 0 Vulnerabilities
  • No commits in the last 28 days
Highlights:
  • daily repo updates
  • no stars
  • no watchers
  • no mentionable users
  • no repo stars

BasketCoin Sentiment Score

The sentiment score indicates how well the wider community regards the project. We analyse social media platforms such a Reddit, Twitter etc to access if the community is talking positively or negatively about a project. Or if they are even talking about the project at all!
The more articles that are available to analyse, the more confident we can be about the score. If there is not a lot of data available on the internet to use, this should be a redflag as it can indicate that no one is posting or writing about this project.

Highlights:
  • The overall sentiment is very positive
  • Extremely low number articles to calculate the sentiment

BasketCoin Community Score

The community score indicates how active community is. Are they writing lots of articles and engaging in lots of conversations on the web? Where is the crypto communities attention spent? There are so many hours in the day to spend writing, reading, researching a project. So how much of this time is spent on BasketCoin?

The larger a community is then the more eyes are on that project. Sharing information, red flags and concerns is more likely the bigger the community is. And larger communities are alot hard to censor and control - therefore they provide a diverse range of opinions.

Overall BasketCoin has an poor community rating, small communities can be easily manipulated and bullied (banned from telegram, deleted from discord etc) into towing the project line. If a project is new and doesnt have a big active community then in general as the project grows the community score will increase.

Highlights:
  • no reddit articles
  • no hashtag tweets
  • poor gitHub account watchers

BasketCoin Awareness Score

The awareness score indicates how well BasketCoin is known in the main stream. Its all very well for a project to have a discord channel to have 1000 users chatting all day about how great the BasketCoin is but a good measure of longevity is how well the project is known by the general public.

Overall BasketCoin this project is not known by the general community. If a project is new and has not had a lot of marketing or exposure then in general as the project grows the awareness score will increase.

Highlights:
  • very poor search result total
  • no number of news articles mentioning BasketCoin
  • no number of headlines about BasketCoin
  • very poor number of BasketCoin YouTube videos

BasketCoin Credibility Score

The credibility score indicates how credibility a project is. Does it have a ridiculous name? Is it run by a 13yr old in their basement? Is it just 2 days old and too early to tell?

Highlights:
  • Early project age (released Mar 9, 2021)

BasketCoin Volume Score

The volume score is the simplest of all our metrics and quite often the bottom line metric. It doesnt matter how well a project scores on the other factors, if it is only shifting a few thousand dollars a day in volume then there is a high chance you will left holding a bag

Highlights:
  • no USD 24hr volume

Red flags come in all shapes and sizes

At the end of the day a cryptocurrency project requires you to part with your hard earned cash in order for it to become succesful.

You expect a level of transparency and professionalism from a project that is asking for your money.

There are all sorts of red flags which you should be weary of;

  • 404 (missing) websites
  • Expired SSL certs
  • Malware/Hijacked sites
  • Suspended Twitter accounts
  • Private Subreddits
  • SEC investiations

If you spot anything suspicious/resolved then please let us know.

BasketCoin Red flags
  • No red flags
    No red flags have been identified. That doesnt mean its a 100% safe project, it just means that no red flags have been brought to our attention.

BasketCoin Exchanges
BasketCoin Explorers
BSKT
Member Ratings (BSKT)

--/5

0 reviews
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Do you think BasketCoin is a scam project which will disappear in a rug pull in the next few months or do you think BasketCoin is here to stay?

And more importantly let us know your experience and warn others if you have noticed something suspicious.

87.50%

Complete
Profile Status

How complete is this profile:

A few missing data points

This profile is still waiting for the following data points

  • bitcointalk thread
  • tradingview profile
Member Signals

--/5

(no reviews)
Member Ratings
Market Cap Rank:
6139
Voted:
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Bulls v Bears:
neutral
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