In this Cryptogrind review, we quickly investigate the company’s ownership, a number of projects & users, design, fees, security and reputation.
At the conclusion section, we provide pros and cons analysis, which could then be used to compare the results with other similar platforms. All throughout the article, we use references from XBT Freelancer and Coinality to provide you with the latest development in the freelance industry.
Unlike XBT Freelancer, Cryptogrind has a person standing as its developer and owner. The main strategist behind the Cryptogrind’s wheels is Richard Macarthy, the UK developing professional that has plotted out the idea and constructed the site.
Since its release, Macarthy built a team of marketers and IT specialist, bent on providing the service for both freelancers and employers. Although Coinality is running a firm of the same name, it helps to have a face behind the curtains.
Number of Users
To compare them properly, XBT Freelancer has over 50.000 registered accounts. Even though most of them are inactive, it is important to state that 1.400 active in Cryptogrind can be both freelancers and employers.
Compared to 100 projects offered at XBT Freelancer, the Cryptogrind’s job market is a lot smaller. Currently, there are about 10 active projects going around, with many stalling for quite some time. The base is thus quite stagnant with very little activity going around.
This signifies that platform is not earning through direct job posting, but rather from communication between freelancers and employers. As you can see in the picture below, freelancers would post advertisements about themselves, inviting employers to check them out and offer projects directly to them.
Unlike in XBT Freelancer and Coinality, Cryptogrind takes a turn towards a different direction. Employers seek out freelancers, rather than another way around. Through quick investigation, most of the projects are concerned with programming, marketing or writing positions. They are usually limited in time and scope of work, with smaller work being offered by the employers.
On the other hand, cryptocurrency industry is the main focus of the platform’s job market, much like with Coinality and XBT Freelancer. Development of the blockchain, ICO and whitepaper writing are some of the popular services offered by the freelancers and Cryptogrind.
Cryptogrind gives off a premium feel when it comes to its design of profiles and platform overall. Whereas Coinality and XBT Freelancer offers a very simple interface and profile construction, Cryptogrind seems to be interested in giving freelancers more freedom in what their profiles should look like.
We do need to come clear in the aspect of profile creation. Although looking more sophisticated and creative, Cryptogrind does not really offer that much creative freedom. You still have skills to add, space to write about yourself and pictures to post. That is where services stop, meaning that in terms of personal design, Cryptogrind is not that different from other platforms.
Costs are not shared by freelancers and employers, much like it is in rest of the industry. Both BXT Freelancer and Coinality do not charge employers a thing, even when releasing milestone. Cryptogrind employs the same policy, though at a lower rate than XBT Freelancer. The fees for milestone releases stand at 4%, which is a lot lower than XBT Freelancer’s 10%.
In addition to the lower costs, referral programs would land 2% of expenses back for each employer you bring to Cryptogrind. Employers do not pay any costs apart from miner fees when withdrawing BTCs. It is important to note that both USD and BTC are accepted for payments. BTCs are still the prime payment channel, meaning that you should include miner fees as well in your calculations.
When signing in the platform, what definitely stands out is the fact that nonverification process is being offered. Users, both freelancers, and employers can work together without providing any personal details about themselves. The only data that really matters is the work and skills offered to the marketplace.
This also might be a double-edged sword, as frauds are common in the freelance world. The only protection tools you really have are multisig escrow service and password manager. Cryptogrind is a bit more sophisticated than XBT Freelancer due to the enhanced escrow product. Still, the platform has a long way to go to reach regular marketplaces, such as Freelancer.com, eLance, and Upwork.
Rating at Cryptogrind is quite simple, as you leave stars only and a usual at that (one for poor and five for excellent marks). Whereas at XBT Freelancer you have five different rating categories, Cryptogrind offers no such service. All you see is the overall rating of the freelancer or an employer, expressed in a number of stars.
You can check out the rating system in the picture below.
Pros and Cons
Putting everything in one place, Cryptogrind does have its own share of strengths and weaknesses.
- low escrow fees of 4%, which could go lower through the referral program
- premium-feel website design
- promotion of freelancers, rather than employer-heavy projects
- multisig escrow service available
- no verification demands of both employers and freelancers
- lack of security features, aside from escrow
- a small number of users and projects going around
- simplified profile creation
- the overly simple rating system
This Cryptogrind review uncovered that, although of interesting design and project presentation, platforms falls short of expectations. It is more in line with Coinality since you have a very small base of freelancers/employers to work with.
Security needs an upgrade, especially since the platform accepts both bitcoins and USD as means of payment. Fees are indeed lower than with XBT Freelancer, which might be interesting for business people that are looking for a speedy resolution for their small projects.