Dent Cryptocurrency Review: 27 Burning Questions About DENT Answered

DENT coin is striving to become the cryptocurrency of choice for mobile data.

But will it succeed? And what threatens their success?

In this coin review, we’ll run through how Dent cryptocurrency works, plus their advantages and disadvantages. 

1. What Is Dent Cryptocurrency?

Ever been on holiday and had to go through all the trouble of changing sim cards, finding a mobile network and agreeing an affordable rate?

The problem is that across the world, mobile networks are very fragmented.

It’s expensive, inconvenient and actually quite difficult to make calls internationally.

Dent coins basically solves this by creating a worldwide mobile data marketplace on the blockchain.

Here’s a few ways this could be useful:

  • Making overseas calls

  • Avoiding expensive international phone calls/data roaming

  • Making the internet more accessible whilst you’re on holiday/travelling

  • Increasing mobile data accessibility in developing countries and more rural regions

  • Turning mobile data into a commodity that can be easily traded between peers

  • Plus, you don’t have to worry about jailbreaking your phone just to add a new sim card

The other thing is that most telco networks cap your internet usage on your phone.

So for example, most people are limited to a 1GB or 4GB monthly deal.

With Dent, you wouldn’t have to worry about being overcharged or running out of data.

2. How Does Dent Coin Work?

If you already have a contract with a mobile data network, then you probably know their limitations too.

They’re often expensive, customer service isn’t great and you’re restricted in terms of what you can and can’t do.

For example, existing mobile networks are:

  • Limited to long-term contracts

  • Charge expensive rates for international data roaming

  • Typically have poor customer service. Usually you have to call a foreign call center and there are long waiting times

  • Inflexible in terms of buying more data

  • Uncompromising with their fees, rates and extra charges

  • Rigid data plans that typically lock-in their customers for long periods of time – usually contracts are 2+ years

With Dent coin, you get a marketplace where you can buy, sell and donate mobile data on a peer-to-peer network.

That’s where their blockchain technology comes in.

Each transaction is secured with a smart contract. So once someone has swapped tokens for data, a transaction will be secured.

(I’ve explained how smart contracts work here.)

It also means that if you haven’t used all your data up by the end of the month, and you want to get rid of it, you can sell your data on the Dent marketplace for a profit.

3. What Problem Does Dent Coin Solve?

Dent solves a big problem because over 143 million gigabytes of mobile data goes unused every month.

And most of the time, you can’t roll your mobile data onto the next month.

So essentially, it’s wasted. 

That’s a lot of money telco companies gain, whilst their customers pay extra for unused data.

With DENT, just like how you can trade stocks or currencies on Forex and Wall Street, mobile data could be traded too.

In theory, this is win-win – for the buyer and the seller.

(There are disadvantages which I’ve explained later.)

But essentially, this creates a more efficient pay-as-you-go model, where customers get a better deal because they’re cutting out the middleman.

telecom industry infographic

This could liberate the mobile data industry.

Customers would no longer have to worry about expensive, rigid contracts.

Dent also has the potential to reach geographical areas that struggle with mobile data.

Whilst mobile data is a commodity in Western countries, there’s still a lot of developing countries where mobile data isn’t easy to get.

Dent coin is an ERC20 token from the Ethereum blockchain – so it comes with the benefits of smart contracts too.

As a peer to peer network, they cut out the middlemen i.e.telcos.

4. What Does Dent Cryptocurrency Do?

Dent cryptocurrency is a marketplace, where you can trade mobile data with other people.

It’s kind of like the eBay of mobile data.

There’s no middleman or Telco company trying to sell you a deal. Instead, you trade with other people, not companies.

So as a user, you can:

  • Buy and sell mobile data

  • Cash in on your unused data before it expires

  • Buy more data if you’re running out

  • Buy/sell data to use in foreign countries

  • Donate data to others

5. Who Created Dent Coin?

Dent coin was founded by Tero Katajainen, an internet entrepreneur with 20 years of experience in the mobile industry.

It’s also backed by co-founder Mikko Linnamäki, who created one of the world’s largest IMAP servers, DOVECOT.

One of the biggest problems I have with this coin is that they don’t have much experience in the blockchain space.

That could be a problem later down the line when they’re trying to scale up their technology.

6. How Is Dent Coin Different?

Mainly, their use case is different.

For example, if you look at my reviews of OmiseGo or Fuel cryptocurrency, each of these technologies is solving a different problem.

For Dent, they’re trying to liberate the mobile data market.

That means mobile data could be more accessible and even cheaper to buy.

They’re also different because they have a live app that’s working – it isn’t perfect, but it still has an average of 4 stars on the android app market.

So unlike most ICOs, their product is in beta.

7. Is DENT Working Already?

So their technology is still in development.

But Dent’s mobile application for android already has over 5,500 reviews. And most of them are positive.

They also topped the download charts in Mexico and they’ve already hit 1.6 million downloads.

iphone screenshots dent coin

But don’t get too excited just yet.

Mainly, they’ve developed their app for Nigeria and Bangladesh. So they’re mostly targeting developing countries right now.

That’s a decent start for the coin.

It also shows that they’re beginning to deliver on their roadmap promises.

8. What Do Users Say About Dent?

dent coin android reviews

Looking at the reviews, here’s some of the feedback so far.

Let’s start with the pros that user’s reported:

  • It’s easy to buy data

  • It’s cheaper than buying mobile data directly from telcos

  • Users really like the idea of buying data via an exchange

Next, let’s look at why some user’s don’t like DENT’s app:

  • Frustrating login speeds

  • A lot of reviews complain that the app has ‘too many requests’ and can’t log them in

  • They have a refer a friend scheme but sometimes the rewards don’t come through

  • Data packages are quite often sold out

So there’s obviously some teething issues but it’s a good start.

I’m also impressed that the app has already been launched to the market, although this is mainly for developing countries so far.

9. Why Is Dent Coin A Bad Choice?

Big players around the world in the mobile data industry will have more experience, resources and an existing customer base to tap into.

So if they decide to create a similar blockchain application, Dent coin might struggle to keep up.

Also, to remain competitive and incentivise transactions, mobile data via Dent has to be cheaper than other mobile carriers.

So can Dent coin secure cheaper prices? 

One of the biggest concerns telco companies might have about Dent is mobile data arbitrage.

Big data packages e.g. 15GB are going to be far cheaper in terms of $ per GB of data. So users could just buy huge packs of data, then sell GB individually on the Dent marketplace.

And the party that will lose out is the telco.

So this will hinder partnerships between Dent coin and service providers.

It’s a huge barrier to the success of their business model.

10. Can You Give Me Some Dent Coin Predictions?

So I think they’ll struggle to gain a stronghold of the Western markets.

But there are other opportunities internationally.

If they can penetrate developing markets, such as India or Africa, they’ll face less competition.

For example, in Africa only 29% of rural areas have mobile data. That’s an opportunity for Dent.

However, customers in developing regions have less spending power. Their economy isn’t as strong.

11. How High Can Dent Coin Go?

So you’re probably wondering how much could Dent coin be worth in the future right?

Dent coin has a ridiculous number of tokens. 100 billion to be exact.

That’s not a good thing, because there’s no scarcity to the coin.

But there’s a much bigger threat to their business: mobile data value.

mobile data usage

For example, mobile data products are becoming cheaper and cheaper to buy.

Whilst 1GB might’ve been expensive a few years ago, it’s actually quite affordable now. 

And I think that trend is only set to continue.

Why? Because:

  • Big touristic countries like Thailand for example, actually have mobile data packs specifically for travellers. That kind of defeats one of the biggest use cases of Dent coin.

  • As the internet becomes more media based and data demanding (videos and audio require a lot of data to stream) the standard mobile data package is getting bigger. A few years ago it’d be around 250kb, now it’s 2GB+

  • Telco markets around the world are becoming increasingly more saturated and fragmented. There’s fiercer competition than ever as more and more internet service providers pop up.

And if mobile data products continue to become cheaper, Dent’s overall value will drop too.

The other problem is that whilst buying mobile data isn’t all that easy for customers, the existing model still works.

Millions of customers around the world already have easy access to mobile data.

So is Dent coin really solving a big problem?

Sure, their concept is a cool idea. But it’s not going to change the world.

So this cryptocurrency’s potential isn’t as big as other giants like OmiseGo, Bitcoin or Ethereum.

Personally, I’m not totally convinced by their business model. And I’m not planning to invest just yet.

12. What Are The Advantages Of Dent Coin?

  • Dent could completely change the landscape of the mobile data industry

  • They’ve topped the app download charts in Mexico and Nigeria

  • Their app is already live on Android and iOS

  • They’ve hit over 1.5 million downloads

  • If Dent coin is successful, mobile data could become a tradeable commodity, just like gold, oil and currencies

  • Their founders have a proven track record of success in the technology industry

  • It’s a unique business model and they have the first mover advantage

  • As the smartphone industry grows, so does the demand for mobile data

  • It’s a liberating concept that gives more freedom and control to you as a customer

13. What Are The Disadvantages Of Dent Coin?

  • The team isn’t particularly well known in the cryptocurrency space

  • Their technology isn’t ready just yet – there’s still a few bugs that need to be fixed

  • Their business model doesn’t solve a major problem – it’s not going to change the world

  • The telco industry has a lot of competitors. For example, companies like Vodafone probably don’t want their market share threatened or decentralised

  • Their success is reliant on factors outside of their control, such as partnerships with big telco companies, which they might struggle to secure

  • Dent cryptocurrency hasn’t really built much brand recognition. If they want to gain market share, they’ll need to dedicate a lot of resources to customer acquisition

One of the biggest disadvantages of Dent coin is that their success is out of their control.

With increasingly tighter Government regulations on cryptocurrency, more telco competition and the depreciation of mobile data products, there are a lot of threats that Dent can’t control.

So as an investor, even if you trust in their technology and team, it’s still a big gamble.

14. Why Is Dent Coin Dropping?

There’s a few reasons why Dent’s price has dropped over the last few months:

  • The cryptocurrency market has struggled in 2018 due to hacks and increasingly tight Government regulations

  • When Dent coin was first launched, the whole market’s prices were over inflated. As the market’s overall market cap drops, so will Dent’s price

  • There’s less investor confidence in the market, meaning it’s a bear market where cryptocurrency prices are constantly dropping

15. Are There Any Reasons Why Dent Coin Will Fail?

For their marketplace to work, they’ll need a lot of users to adopt it.

For example, if there’s not enough buyers, sellers will lose interest and struggle to find the deals they’re looking for – and vice versa for buyers.

So basically they need power in numbers.

Dent coin’s business model relies on a network of users.

Competition is another threat to their success.

Dent coin will face a lot of competition globally in the mobile data blockchain space.

Will telecom companies really allow their data to be sold and bought on Dent’s marketplace?

Dent cryptocurrency will need to negotiate partnerships with mobile networks, which could be tricky.

Data companies profit from the existing market – there’d have to be a really strong incentive for them to change their business model.

After all, the data will need to be swapped across networks for this to work.

16. Who Are Dent Coin’s Partners?

Promisingly, Dent have announced a couple of partnerships already.

This includes Aquto and U2opia Mobile. Here’s how both partnerships will work.

Aquto:

aquto partner with dent

Operating throughout the US, Europe and Asia, Dent cryptocurrency has partnered with Aquot because they have connections to large telcos around the world.

The more telcos Dent can connect with, the more they can grow their user base and reach new audiences.

U2opia Mobile:

u2opia mobile partner with dent

U2opia mobile has links to telco companies within a few developing regions of the world including Bangladesh, Sri Lanka and Nigeria.

This could help Dent increase the use of their mobile data exchange in regions of the world where it isn’t very accessible.

17. What’s The Vision Of DENT Coin?

Their cryptocurrency essentially aims to liberate the whole mobile data market.

It dencentralises this industry, reducing the power of giant telco corporations and creating a world where customers have more control over the deals they’re getting.

How?

Here’s a few ways Dent does this:

  • It creates a union of mobile data customers who have power in numbers

  • It negotiates better deals with telco companies

  • They create more value for customers

  • They allow customers to sell off their unused data packages

18. What’s The Current Value Of Dent Cryptocurrency?

You can check their latest prices here.

For their pricing history, check out the chart below.

dent price history

19. What’s In Store For Dent Cryptocurrency’s Roadmap For 2018?

After launching their crowdsale in 2017, Dentcoin is now focusing on bringing their concept to life.

Their roadmap for 2018 has 3 stages:

Stage 1: Building partnerships with mobile data service providers

Stage 2: Attracting a community of users who will buy, sell and donate data via their marketplace

Stage 3: Lobby with EU legislators, launch internationally and create a beta version of the marketplace for mobile data exchanges

20. What’s Dent Coin’s Price Prediction For The Third Quarter Of 2018?​

So what’s the projected growth of DENT cryptocurrency this year?

Well, I think 2018 is going to be a hard year for the cryptocurrency market.

With that in mind, I can’t see Dent’s price rising significantly over the third quarter unless they announce some big telco partnerships.

Even if Dent’s roadmap goes to plan, their depends on a lot of external facts such as:

  • Cryptocurrency regulations

  • Bitcoin’s value – which influences the rest of the market

  • Exchange hacks

  • Bad publicity in the cryptocurrency market

  • The continuing depreciation of the value of mobile data

If you’re going to invest in Dent cryptocurrency, make sure you’re prepared to hold long term.

Until the market recovers, I can’t Dent’s price spiking for a while.

21. Do You Have Any Dent Coin Predictions For 2020?

They need to secure telco partnerships, build up their brand awareness and develop an optimised, secure marketplace.

That will take time.

So if their roadmap goes to plan, and if Dent coin is going to become successful, I’d expect their price to spike around 2020.

22. What Is Dent Coin’s Website?

Here’s a link to Dent’s website.

23. Where Can I Find The Latest Dent Coin News?

Here’s a few useful resources for keeping up with the latest Dent coin news:

Their Telegram chat

24. What’s Dent Coin’s Symbol?

Dent coin’s trading symbol is simply DENT.

25. Where To Store Dent?

As an ERC20 token, you can store Dent coin on any Ethereum compatible wallet.

However, it’s always safer to store your cryptocurrency offline, rather than an exchange.

I’d recommend using a hardware wallet instead.

26. Which Exchanges Can You Buy Dent Coin?

Dent cryptocurrency is available on quite a few major cryptocurrency exchanges, including Kucoin, BitForex and OKEx.

27. What Have DENT Cryptocurrency Achieved In 2018?

Dent have had a busy year so far, launching their app globally on Android and iOS.

I’ve actually listed some of their recent press releases for the coin below.

But before you read them, please note that their company will only announce good news.

Obviously, they’re only going to promote positive news – so the list below is an overly optimistic picture of their company.

So here’s what Dent have achieved recently:

  • Lately, Dent have linked their token to 130 countries across 400 telco operators (as announced on their website)

  • They’ve launched an airtime top up feature, where users can buy airtime top-ups and send them to other users on the Dent marketplace.

  • They’re topped Google Play store download charts in 9 different countries – these are mostly developing countries including Mexico, Guatemala and Nigeria

  • 0.2 Petabytes have already been sent via the Dent coin mobile app

  • Their app is growing considerably – between 11-22nd June their app transacted more mobile data than the six months previous to that

  • They’ve already passed the targets on their roadmap, hitting 2 million users months before their estimates

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