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5 Biggest Cryptocurrency Scams

Cointelegraph published an article detailing five notable cryptocurrency scams.

cryptocurrency scams onecoin bitconnect plexcoin centratech pincoin

Source: https://cointelegraph.com/news/unpacking-the-5-biggest-cryptocurrency-scams

“The crypto community needs to promote financial education and ethical investment practices, otherwise governments will over-regulate and stifle real innovation. The most effective way to protect investors is through education. Investors need to learn how to evaluate investment opportunities, quickly spot scams, and know how to manage risk.”

The crypto market has immense potential, but is still immature; should its reputation continue to be tarnished by shady companies and schemes, governments will not have a choice but impose regulations at a stage when over-regulation can be lethal to the market as a whole. The sooner the market learns to self-regulate, the better; hence, pointing out scams is one of the objectives of this blog. We do not give investment advice, however we do encourage the readers to use common sense and critical thinking.

When looking at an ICO…

  • Read the Whitepaper. Is it up to industry standards?
  • Have a look at the Roadmap. Has it been followed up until now?
  • Have a look at the Team. Is it composed of Tech guys, or Salespeople?
  • Is the project unique?
  • Are there valuable partnerships? Are the partnerships real?
  • How approachable is the team?
  • Is the strategy clear and concise?
  • Are the objectives attainable and realistic?

If you have already invested in coins/tokens/ICOs…

  • Have a look at your portfolio. Critically examine the progress of every item.
  • Has the company made any progress since your first look?
  • Does the project show real signs of life, or is starting to seem abandoned? (beware, – after recent price falls, many companies are thinking of exit strategies)
  • Is the team expanding or contracting?
  • How has the market reacted to any news regarding the project?

Etc.

P .S. DO NOT FALL PREY TO FOMO. Many “investors” felt FOMO when looking at Bitcoin price in December.

 

Airdrops, Buying Cryptocurrency, ICOs, News, Tokens

Competition. Is Bitlle’s appearance a wake-up call for CCRB?

Competition being the driver of progress… as well as a test of “who is who and what the fuck”…

Bitlle

Bitlle offers a… platform which offers cashback services and loyalty bonus exchange scheme to its members… In form of Etherium-based ERC20 tokens (for now)… And more.

Read the short version of the whitepaper.

Register now to get ahold of a BTL token and jump aboard the cashback/loyalty platform very early on.

“It is a pilot project of our platform and one of the tools used for primary allocation of tokens. As we speak, users can purchase goods and services via this project in thousands of online stores worldwide, receive fiat cashback and Bitlle tokens for loyalty. We test all development works first and foremost on this project.”

Bittle

The appearance of competition is nothing but positive news. The cryptocurrency market already seems overpopulated and artificially inflated. With almost 2000 tokens and coins in circulation, the market has been pushed to the degree where it becomes difficult to keep track of new developments. Google proceeds to ban open and plain ICO advertisement (the “pay us money and we will make you rich” type) to protect the consumers, however the ban (which is no more than an immune system protection of a very average consumer) will affect only new companies and only the ones too lazy to think past a flashy banner as an advertisement of their form of “revolution”.

However, companies that did undergo some form of initial coin offering have laid their hands on significant budgets and have been holding onto them for months. The question is, whether the older companies have used the funds in a cost-efficient and relevant matter (to better the system, rather than to better the appearance of a system), whether they have abided by their roadmaps, etc. Those companies will be put under, perhaps, a more serious form of pressure, – that, stemming from even newer, “younger” and very money-hungry competitors, which, most likely, have learned from the mistakes of their “fathers” and will not fall under the trap of overpromising and underdelivering.

The client loyalty market is an exciting (and very “rich” sphere), however, does it really need ten companies offering very similar services and ten tokens ?.. Do the consumers need ten extra store loyalty cards to carry around in their wallets? Wasn’t the cryptocurrency market supposed to simplify the processes of exchange of value?

Since both CCRB and Bitlle have Emirates Airlines as their cryptocurrency cashback partner, it seems that the “big business” does not mind where the influx of potential new clients will stem from.

A much closer look is necessary to compare the pros and cons of the two platforms in detail.

CCRB

Reminder: CCRB rewards the participants of its ecosystem with “cashback” in form of its own cryptocurrency, instead of traditional fiat cashback. In fact, CCRB has a very vague connection to traditional cryptocurrencies. It is merely a form of “e-cash”, which can be exchanged with actual cryptocurrencies, or some major and minor exchanges (LiveCoin, BTC-Alpha), at market rates. In effect, by making a “real money” purchase from one of CCRBs partner companies (e. g. the above-mentioned Emirates Airlines), a consumer can get up to 25% of the purchase value back in any cryptocurrency of his or her choice after exchanging CCRB ERC20 tokens to Bitcoin, Etherium, Litecoin, or back to fiat. Additionally, the CCRB tokens can be used towards future purchases (that includes the “$5” you get for registration with CCRB).

WARNING: CCRB IS A SHADY OPERATION. CCRB CARES ABOUT NOTHING BUT MAKING AS MUCH MONEY AS POSSIBLE BEFORE WITH NO REGARD TO USERS’ INTERESTS. DO NOT TRUST WHATEVER CCRB PROMISES. DO NOT INVEST IN CCRB. CCRBs T&Cs CAN CHANGE WITH NO WARNING AND LEAVE A USER WITH NOTHING. IF USING CCRB, EXERCISE MAXIMUM POSSIBLE CAUTION. 

Read: 

CCRB Token Sale Results – This is (not) a Joke

CCRB Giveaway Scam: “Refer and Get Zero”.

Airdrops, Featured, Giveaway, News, Tokens

Add To Portfolio: AELF Tokens

AELF is a fascinating project on its own, – a customisable operating system specifically designed for blockchains.  It fulfils a crucially important market niche, – enough said.

Register now to start accumulating ELF ERC20 Tokens.

aelf airdrop

Founder: Ma Haobo (founder/CEO of Hoopox, CTO of GemPay and AllCoin)

J. Michael Arrington, founder and CEO of TechCrunch, and Zhou Shouji, founding partner of FGB Capital, – members of the advisory board.

“Most notably, though, the project has received considerable investment from numerous venture capital firms. Draper Dragon, Blockchain Ventures, FGB Capital, and over 10 other investment firms participated in the token sale. In fact, the project has been so popular that the team had to turn down the majority of interested investors after reaching their 55,000 ETH goal within two weeks of starting the sale.

The project is not new, – I assume those actively following the ICO scene have heard of or already/are parts of the AELF community.

ELF is traded on numerous exchanges, including Binance (BTC, ETH), Gate.io (USDT, ETH), Bibox (ETH, BTC), just to name a few,… and still is airdropped (part 2 of the Airdrop, AKA “Azeroth Project”).

Why? 12% of tokens were reserved for promotion purposes for the first three years.

What does that mean? 

  • All you have to do is register and, optionally, follow the usual simple steps (connecting Twitter and the like). You will have immediate access to tokens you can safely add to your portfolio and, following a usual “cooldown” period, withdraw the tokens to an ERC20-compatible wallet to hold, leave it within the system as a form of reinvestment, acquiring interest, or sell for other currencies, including fiat.

Regardless of your choice, we would recommend you to read more about the company and the product the ELF token represents. Circulating Supply is not far off Total Supply, so don’t miss your chance to register!

aelf roadmap free tokens best free tokens

Screen Shot 2018-03-24 at 00.25.41

P. S.

This is Part I of AELF series of articles. Part II will describe how to make most of the bounty program.

Read more about ELF and important updates to AELF token bounty:
Continue reading “Add To Portfolio: AELF Tokens”

Important

Friendz ICO update – international App launch

According to today’s Friendz newsletter, the platform’s Android app has been finally officially released internationally.

We have previously mentioned that Friendz is an established marketing advisory company and uses the ICO for targeted fundraising. Although the FDZ Etherium token is not yet traded externally (as far as we know) app development usually positively affects the market price.

friendz mobile app launch during ico token saleEspecially if the app is something of quality.

friendz releases an android app during its ico token sale

“Why should I use Friendz app?

Continue reading “Friendz ICO update – international App launch”

Important

Friendz Airdrop

…is almost over. Join and try to get ahold of some free FDZ tokens before it’s too late. Unlike most companies going through the ICO process, Friendz is an established marketing and advertising company, successfully operating since 2016 and is just intending to use the ICO to incorporate blockchain into their operations.

ICObemch (ranked Friendz ICO at 4.6:

“Friendz is a working product with €1.2m in revenues and a community of 200k users. Friendz platform connects companies to people willing to provide support in the generation of advertising contents directly posted on their personal social media profiles. Users involved in this peer-to-peer communication process get rewarded for their collaboration on Facebook/Instagram/Twitter/Medium through our FDZ tokens. FDZ will be the standard token to manage and reward people for online activities.”

Source: https://icobench.com/ico/friendz

From today’s Friendz newsletter:

Friendz closed a new partnership with Andrew Duplessie, a Venture capitalist and entrepreneur with two successful exits. He is CEO of Tipster and runs a multi-million dollar crypto currency hedgefund that posted over 300% returns in 2017. Andrew has worked with over 15 ICO’s, that collectively have raised over 1 billion dollars and has over 250 million followers across Instagram and Facebook.”

Friendz ICO token price