Today we take a look at Credits(CS) coin and what it is. Credits had an ICO from the Feb 17th, 2018 to Feb 28, 2018 and has an estimated value of 43 cents at the time of this writing. Credits seems to be touting itself(like most other coins) as a lightning fast, low-fee, transaction token built on a superior platform. The credits team is amazing at social media marketing and has raised a lot of hype for this coin which is why the value of the coin skyrocketed to above $1 before coming back down towards its ICO price. Credits will have smart contracts capabilities and looks to do business with banks and financial institutions.
Credits currently has an online wallet which you can register for but no desktop wallet. They do not seem to be an ERC20 token because they tout having their own superior platform on their website and so are not based off the Ethereum network like other ERC20 tokens.
Despite their whitepaper and roadmap, there are major concerns for me about the Credits token. Their github repository is almost completely empty except for one file that contains 5 lines of code. The 5 lines of code also makes it sound like that are an ERC20 token, which is the opposite of what they present on their website. Every single coin I’ve looked at, regardless if they are a good coin or junk coin has a github repository with source code and this code not having one really worries me.
I have also checked out several of their discussion points on bitcoin talk and reddit and whenever someone brings this point up, they try to dismiss it as FUD. The lack of transparency of development and any source code and the lack of a desktop wallet makes me very hesitant to buy into this coin.
I would personally hold off on this coin for a few months and see how its doing then and wait for more transparency from the team to make sure its not just a large marketing gig with no real substance underneath.