Proof of Usefulness Report

CoinSmart

Analysis completed on 1/18/2026

+584
Proof of Usefulness Score
Industry Mainstay

CoinSmart is a legitimate, established Canadian cryptocurrency exchange with significant verifiable traction (acquired by WonderFi) and a solid regulatory standing. However, the submission itself contained exaggerated claims ('everyone', 'most people') and lacked specific data, resulting in penalties to the Quality Factors. Despite the poor submission quality, the project's real-world utility and historical traction place it in the high-value tier.

Ready to Compete for $150k+ in Prizes?

Move this data into a HackerNoon blog draft to become eligible for your share of $150k+ in cash and software prizes

View All Reports

Score Breakdown

Real World Utility+212
Audience Reach Impact+112
Technical Innovation+90
Evidence Of Traction+135
Market Timing Relevance+75
Functional Completeness+10
Subtotal+634
Usefulness Multiplierx0.92
Final Score+583

Project Details

Project URL
coinsmart.com
Description
CoinSmart has changed the landscape by making cryptocurrency accessible to Canadians with all levels of crypto experience. Breaking down the barriers of complex and confusing crypto transactions, CoinSmart offers simple solutions, learning tools for all levels, and 24/7 client support. \n\nThe user-friendly platform features enterprise-grade security, cold wallet storage, and easily-generated tax-time reports. For more experienced investors, CoinSmart offers advanced charting, order book functionality and dedicated SmartReps for wealth clients. All clients benefit from competitive fees, as well as CoinSmart’s same day funding, withdrawal and verification SmartGuarantee.\n\nwww.coinsmart.com
Audience Reach
everyone
Target Users
everyone
Technologies
Energy Solutions, Blockchain, Investing
Traction Evidence
most people have used my product

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline