By Spencer Kellogg | USA
DeepOnion is ripping up the charts. With a market cap booming past 15 million dollars (DeepOnion Marketcap) in the last week, $Onion looks like the can’t miss crypto currency of 2018. Only weeks ago the project had a small cap of 3 million dollars but that figure has swollen 5x behind a surge of interest from new users and speculators. While other coins and platforms have raised hundreds of millions through ICOs (Initial Coin Offerings) and made their founders rich overnight, DeepOnion has been one of the only cryptos to swim against the easy tide of greed, centralization & far too often empty promises of today’s wunderkinds and ‘tech insiders’. Sporting one of the largest and fastest growing interactive communities in the space, DeepOnion looks far from a pump and dump coin and an asset worth researching. While many altcoins have bled massively against BTC in the last month, DeepOnion has only gained momentum and trading volume. Let’s look at what sets DeepOnion apart from the rest of the market and why it is a great investment opportunity for 2018!
From its inception, DeepOnion’s philosophy was to do thing differently. Obsessed with privacy and anonymity, the currency has been built on top of the multi-layered web platform Tor. Famous as an onramp for early internet black markets like the Silk Road, the use of Tor signals a giant pirate flag to a crypto community feeling the whirlwind effects of mainstream adoption. Other deep privacy currencies like Monero and PIVX have thrived in this space although neither of them have boasted the level of anonymity or untraceable privacy that DeepOnion promises. The emphasis on no identity contracts and the free movement of money and goods is a signal to the user base, a commitment to an individuals right to execute market trades without the watchful eyes of a paternalistic government or 3rd party. Though DeepOnion reads like a meme with its strange name and its Guy Fawkes logos, it is in actuality, the living breathing embodiment of our most basic rights as prescribed in the Constitution.
What sets DeepOnion apart most from the rest of the small-cap coins and platforms is its rapidly growing interactive user base. With over 2000 pages on their BitcoinTalk announcement thread and 6000 users on their own forum, DeepOnion has what many other new (and old) coins do not: a dedicated network of holders and participants. This network of users and traders have helped create a sustainable price floor without any serious reversals of movement in market cap. While other coins can swing wildly from day to day, the only swinging DeepOnion has done is consistently upward. The distribution model of Onions is performed through airdrops that reward different levels of participation and holding of the asset within their community. Instead of 1 giant cash grab with angry speculators pooling on the sideline, DeepOnion is performing a slow distribution process with close to 20 million coins being dispersed across a 40-week span.
They began by giving out Onions to the highest ranking members of the BTC chatroom, BitcoinTalk. In October, they loosened the ranking hierarchy and many new members flooded into the chatrooms. The airdrop of Onions occur every Friday morning and the requirements to participate are simple: stick 100 onions in your DeepOnion wallet and get some free ones! For every 100 onions you have in your wallet you can expect to receive between 5-7 onions a week. At almost 4 dollars an Onion that’s over 20$ of free Onions for simply holding the asset! For those who are not a member of BitcoinTalk, you can purchase Onions on the open market at the New Zealand crypto exchange Cryptopia (Cryptopia). Right now, Cryptopia is the only exchange trading DeepOnion. This, in my opinion, is an obvious bullish sign because it suggests that the majority of traders and volume are still yet to interact with the coin. If you do not have money to buy Onions, the founders recently created an internal reward system, called DeepPoints, for users of their own DeepOnion Talk forum which awards posting in their forums with small slivers of Onion that are distributed in a secondary airdrop performed every Sunday. To find out more about the Airdrop rules and requirements spend a few minutes going through the various reward systems in place for participation: (DeepOnion Airdrop)
Who are the founders of this community? Take a look at their website (DeepOnion) and you will find no listing of any celebrity blockchainers or crossover silicon billionaires stamping their verified sticker of ‘guru’ on the project. In fact, you will find no listing of any founders at all! This provides an eye-raising amount of risk to the common investor but shouldn’t keep astute traders and thinkers from investing a small part of their portfolio in this asset. In my research, I have found this crypto to be one of the most intriguing and unique assets in the entire crypto community. Every single market that I have watched explode in the past year possessed a combination of features to spur on its growth: strong tech, eclectic vision & boundless hype. DeepOnion is rich with all of these characteristics and more. While many founders and early adopters of the crypto community at large are looking for more ways to deepen their pockets, DeepOnion has been busy inventing new traction and ideas to help reinvent the space and protect the users of its product.
I will always advise every person to do their own research but I believe DeepOnion to be a steal, even at these recently inflated prices. I would suggest keeping your eye on the currency during the next couple of weeks as we head into the new year and try to pick up some Onions if the market cap pulls back under 10 Million. However, we may not see that figure again and if you are interested in the project you might want to take the risk on and get in now because it is showing no signs of slowing down. In the meantime, head over to the DeepOnion forum and start asking questions and collecting some Onions, the can’t miss crypto of 2018!