SAFEX / SEC / Safe Exchange

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April 5th, 2018 – Version 3

SAFEX0

Definition from the SAFEX Website

Safe Exchange is a marketplace that enables its users to buy and sell goods and services using a complete suite of anonymous systems that are married to the blockchain that we call Chille. Our goal is to provide a platform that protects people’s civil liberties from criminals/hackers and overzealous states affecting its citizens. This system that is developed with simplicity, and accessibility. We ask for the community to join us as volunteers, developers, investors, and evangelists seeking to provide a new paradigm for the internet and commerce that takes place upon it.

Community Enthusiasm – 1 out of 5

  • The Project Team is rarely active with updates to the community.
  • Not many people outside of SAFEX know about SAFEX.

Active Development – 2 out of 5

  • Supposedly there is work in the background.
  • One of the devs is Daniel Dabek from the MAID team.

Exchanges – 1 out of 5

Price – https://coinmarketcap.com/assets/safe-exchange-coin/

  • Traded in January and February 2017 between 20 and 25 sats.
  • Price moved up in 2017 and fluctuated from 100 to 300 sats since.

safe-exchange-coin price

Wallets – https://github.com/safex/safex_wallet/releases

  • Windows
  • Linux

Information

April 5th, 2018 Summary

Safex is a different type of digital currency. It is not PoW or PoS. It is more like investing in a stock and expecting to receive dividends. Owners of Safex can expect to earn a percentage of the transaction fees from another blockchain called Chille instead of mining rewards.

Chille will be a Decentralized Marketplace, and parallel work on the Chille blockchain is already being done.

Safex has fallen hard from a year ago when it was listed on both Bittrex and Cryptopia. After being delisted from both exchanges in 2017, many in the community stopped supporting its growth. At this point, even the core team and developers rarely make any comments or communicate with the world. It is so hard to sell now the developer started offering to buy at 200 sats just to keep a market open.

My recommendation…

I am unable to really give any kind of positive recommendation. I can’t tell you if Safex is done for sure, but it sure appears as if nobody is paying any attention to it. I believe the only thing holding the price up is the offer from the dev to pay 200 sats, and the fact that it is really hard to sell. The website is terribly done, slow, and it is very difficult to find the information someone would visit the site to find.

After a Rah-Rah post on February 12th, 2018 there has been almost no communication from the team. If there is still a team they are working in silence. There does not appear to be an active Discord or Slack channel any more to ask questions, just the forum.  I would not be surprised to come back and review Safex again in a year and proclaim it dead.

I was a huge proponent of Safex when I first found it, but I can’t recommend it any more. The current price of nearly 200 sats is just way too high for the 2 billion coin supply and all of the unknowns. If it was 2 sats I would take a chance.