The digital world today, is becoming a sure thing in everyone’s life year after year, everyone knows this, big financial institutions are making their way in the crypto space dragging everyone’s attention. There are thousands of choices, but there are only a few winners. You would not want to put all your life savings in a token that has nothing behind it, you would risk waking up next day and realize that all your money were gone.
You will want to learn more about this Goldfinch for FOMO. So on this article, we will review the token by explaining what the coin is about, listing the pros and cons, the supply and how legit/safe the token is for investors.
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What is Goldfinch?
Goldfinch is a decentralized protocol that allows for crypto borrowing without crypto collateral.
A core limitation of current crypto lending protocols is that they require overcollateralization with crypto, which prevents the vast majority of borrowers in the world from participating. By incorporating the principle of “trust through consensus”, the Goldfinch protocol creates a way for borrowers to show creditworthiness based on the collective assessment of other participants rather than based on their crypto assets.
The protocol can then use this collective assessment as a signal for automatically allocating capital. By removing the need for crypto collateral and providing a means for passive yield, the protocol dramatically expands both the potential borrowers who can access crypto and the potential capital providers who can gain exposure.
There are 5,072,242.00 GFI in supply.
Pros and Cons of Goldfinch
Pros of Goldfinch
- There is a surge in the market price currently
- Project whitepaper available
- Contract on Binance Smart Chain
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
Cons of Goldfinch
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Not listed on some exchanges
- No Github profile
- They have no reddit acount
- No Bitcointalk thread created
- No traceable features on tradingview
Is Goldfinch Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Goldfinch have developed a problem solver but with a very weak back up for the token they produce.
Is Goldfinch Safe?
Being willing to invest in any token is a question entirely up to you to answer. Goldfinch token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Goldfinch on the comment section below. Don’t forget to rate and leave a review.