SWOT ANALYSIS OF LEADWALLET

SWOT ANALYSIS OF LEADWALLET

For every project, there is the need to determine its strength, weakness, the inherent opportunity in such sphere as well as threats that could deter or push the project to move forward. Today I will be doing a SWOT analysis of a new cryptocurrency wallet named: LEADWALLET.
First, this is a cryptocurrency wallet for storing and sending of cryptocurrency. Think of it as your normal cryptocurrency wallet.

Strength:

From the whitepaper, LeadWallet promises to serve various functions such as to send, spend, store, staking of PoS coins, signing multi signatures for contracts, an e-market, as well as an exchange. All these functions stand an advantage that LeadWallet has over other wallets. LeadWallet prides itself to be different from other wallets out there by providing services that other wallets don’t offer.

Weakness

LeadWallet so to say is totally a new project. Developing an app especially a functional cryptocurrency app is not a child’s play. There is the need to know if this app being developed will serve the purpose for which it is being developed. The end-users need to know how safe their funds in this new wallet are and also what guarantee is there for the future development of the app. Being a new app with no product or MVP yet serves as a major weakness of the app.

Opportunity

Cryptocurrency is advancing and spreading across various entities. With every utility project being tokenized, more projects being deployed on the blockchain, there is a massive opportunity for LeadWallet to thrive in the space. The project stands a chance of proving itself and being part of the big players in the long run.

Threat

Because this is a new wallet, trust on the part of users to engage with the new wallets for their funds' storage as well as the task of building a community of users to use the wallet when launched all pose as a threat to the growth of the wallet app. If there are no users ready to use the wallet, the developmental efforts go to waste.

Conclusion:

If LeadWallet gets her facts right, she stands a chance of making a name for herself in this space within a short period of time.

Links

Website: https://leadwallet.io/
Whitepaper: https://leadwallet.io/docs/whitepaper
Telegram: https://t.me/leadwallet
Facebook: https://www.facebook.com/leadwallet/?_rdc=1&_rdr
Twitter: https://twitter.com/leadwallet