Domraider ICO is legit, but do invest with care !

A lot of people from India have invested in Domraider ICO and many more are thinking the same as evident from the various telegram groups that I am a part of.

ICOs or initial coin offerings is a new found love for people who want to raise funds, sort of crowd funding, where the investment is in the form of established crypto currencies like Bitcoin, Ethereum etc.

Domraider is a European leader in drop catching where the prices are very competitive when compared to other drop catching services. The company is around for quite sometime and hence it’s ICO for the sale of DRT coins generated enough buzz in the market. Of late, a lot of people are very concerned by a recent post in DomainMagazine.com

https://domainmagazine.com/2017/09/19/the-story-of-over-e35-million-unregulated-fundraising-by-domraider–ico/

This has put doubts about the company, it’s services, partnerships or clients as mentioned on their website and whether they actually have raised that amount or not.

I too am a domain investor, got some 200+ domains thus reached out to the company and did some research on my own for the benefit of the readers, investors and fellow domainers.

The company is legit. Yes, they have been around since 2013, the clients and partnerships listed on the website are legitimate as well.
Not many will know about them since they predominantly are focused on .fr and other European extensions.

When reached out, Jonathan from the company has replied this:

“
Hello,

Thank you for contacting us about our ICO.

I can definitely confirm that we are not a scam.

To prove to you that we are a real company, you can check this site: https://www.societe.com/societe/domraider-794171140.html, and you can see that we have been in existence from 2013.
Compared to the team in 2015, when there were 5 employees, there are now more than 30! We are the european leader of dropcatching.

In 2015, our annual sales were € 307,600 and in 2016, € 500,000. But we only sold the .fr domain name. Now we have 18 TLDs on our website.
Moreover, we are now in Sweden, Italy, and soon in the UK and Canada.

We plan to develop a auctioning system based on blockchain technology. We have generated a lot of interest from companies specialized in web auctions.

We have already sold 401 357 754 DRT’s.

It is true that to begin with, we don’t use our smart contract to collect funds, thus is for KYC rules to be compliant with French and European regulations. That’s why we are using one wallet per participant. We accept Bitcoin and bank transfer payments too. DRT will be sent to your wallet on October 18th. As soon as this is done, you will be able to publicly check all addresses of all token owners and all transactions with etherscan or any other tool.

You can see our smart contract here : https://github.com/Domraider/dr-token/blob/develop/contracts/DRTCoin.sol

We are also taking part in numerous events around the world.

Hopefully I have answered all your questions, but please do not hesitate to contact me if you have any more!

Have a nice day.

Jonathan COTE “

When I did the search, the company claims are found to be true and it’s not unusual that a company raise funds through ICO without using a smart contract, as companies try to comply with their country laws.
I hope people will find the information useful.
I got no association with Domraider, neither I was compensated by them to write this.
Plus investment in crypto currency is very risky, you may lose all your investment. So, do invest after doing enough research on your end.
Happy investing.