Ucoin Cash is a new cryptocurrency lending blockchain network launching on November 15. Find out everything you need to know about the platform today in our review.
What Is Ucoin Cash?
Ucoin Cash, found online at UcoinCash.co, claims to be “the next generation of advanced solution for global money transaction [sic].” The ICO for Ucoin Cash begins on November 15 and is scheduled to end on December 15.
The ucoincash.co domain was registered on October 5, 2017 (as well as ucoincash.com ucoincash.net and ucoincash.org) and seems to be a bitcoin, ethereum and ucoincash's uch mining, trading, staking and lending program all rolled into one.
Overall, Ucoin Cash UCH token emphasizes the same benefits as most cryptocurrencies (there are over 1,200+ altcoins and counting) including fast transactions, easy transfers, and a private ecosystem. Upon pleasant surprise they do offer a 21 page whitepaper that is rather vague but does at least give forth a solid effort in drafting up a document that does outline an optimal outlook (see their timeline roadmap image below).
Most at first glance might closely associate UCH with BitConnect (which has been called out by industry-figures as a ponzi waiting to fail), but BCC has been ‘successfully' (to-date paying members) operating largely due to the exponential rise in BTC prices but a system where the more you make the more you are willing to invest.
The question of “how to grow my cryptocurrency wallet/earn bitcoin” is often asked for those on the outside looking in or even considering using a utility token with a specialized purpose or niche of catered function. The real question is who is running the show and how long will the system be sustainable? uCoinCash's UCH token may become valuable, if enough people care to interact and exchange within its ecosystem, then the decentralized nature of a trusted peer to peer
You can interact with the platform using an iOS or Android mobile wallet. Ucoin Cash UCH initial coin offering tokens will also be linked up to a debit card available to order and spend funds as a payment method (looks to be by .
At first glance, Ucoin Cash doesn’t seem much different from any other cryptocurrency on the internet today. However, one of the first things you’ll notice about Ucoin Cash is that it’s being advertised to the same online communities as Bitconnect, Hextra, Regalcoin, and other infamous setup-to-fall virtual currency ticking-time bombs.
To confirm that it’s a multi-tiered referral scheme, Ucoin Cash has the same “lending scheme” and pyramid scheme-style referral system as Bitconnect and others.
Is Ucoin Cash a fraudulent model in a hyper-crowded cryptocurrency token ecosystem? Or will this program have legs and sustain itself for 3-6-12-24+ months from now? Not likely, but the hook is ‘get in first' and refer others to make money now as more people buy/use it the value inherently could rise. So the question to entertain is how risky of an investment do you want to make? Most wonder yet if this is another pyramid scheme masquerading as a legitimate digital currency? Let’s take a closer look at Ucoin Cash’s features.
Ucoin Cash Features
Ucoin Cash describes itself as “a kind of digital cash that you can use to make your payment or any money transaction whenever and wherever you travel.” The currency introduces itself like that’s some amazing thing: but in reality, this is a pretty standard feature for any cryptocurrency.
Here are some of the key features of Ucoin Cash, as advertised on the official website:
Fast: Ucoin Cash will complete all transactions within seconds.
Low Fees: Ucoin Cash claims all transactions are performed “at an extremely low cost”.
Private: Ucoin Cash promises to “guarantee your privacy”, although they don’t explain how they do it.
Secure: Ucoin Cash claims to be based on blockchain technology for maximum security and transparency.
Reliable: Ucoin Cash’s system runs smoothly.
Simple: Ucoin Cash is simple to use.
Mobile Platforms: Ucoin Cash claims to have an iOS and Android app available to users as a wallet. However, we can’t find this app available to download from either app store.
Debit Card: Ucoin Cash also claims you can order a debit card to spend your Ucoin Cash at physical stores and online retailers. This debit card is not yet available to order.
Here is a look at inside the UCoinCash affiliate members area of their referral program:
ucoincash review
Overall, Ucoin Cash claims to be “your own portable bank” that you can take anywhere you go.
The Ucoin Cash Lending Scheme And Referral System
Bitcoin scams like Bitconnect have become notorious for their lending schemes and pyramid scheme-style referral systems. However, these scams have been wildly successful. That’s why we’re seeing dozens of competitors spring up – including Regalcoin, Hextra, and now new options like Davor and Ucoin Cash. All of these currencies have the same Ponzi-style lending scheme in place.
Basically, Ucoin Cash has a 9 level affiliate program that pays you 6% commissions on the first level. You earn 6% of whatever your referral deposits into the platform.
Ucoin Cash doesn’t really try to hide the fact that its lending system is a Ponzi scheme: the company doesn’t claim to invest in any products or services. They don’t explain how they plan to advertise loans, or why anyone would borrow money at an APR of 300% per year.
Ucoin Cash advertises similar ROIs to Bitconnect. The company claims you can expect to earn 0.1% to 0.3% ROI per day along with profits of 45% ROI per month.
Ultimately, scams like Bitconnect should make you wary any time a company advertises a “lending scheme” or a “referral system”. The fact that Ucoin Cash is advertising itself in the same online communities as Bitconnect tells us that they’re targeting the same gullible investors.
Who’s Behind Ucoin Cash?
One of the easiest ways to spot a scam is when the founders refuse to disclose their identity – despite the fact that they’re asking you to send money.
As you might expect, the company is refusing to disclose any information about its management team. The whitepaper and website have no info about who’s running the company, or why you should trust them with your investments.
The whitepaper is incredibly vague about its team, saying things like “we decide to work with the most experienced and talented managers in technology, marketing, business field.”
ucoincash ico timelineHere is the uCoin Cash ICO timeline and UCH intial coin offering token roadmap:
As you can see there is a:
local exchange (Dec 16, 2017)
lending program (Dec 20)
blockchain explorer website (Dec 23)
windows desktop wallet (Dec 25 xmas)
CoinMarketCap.com UCH token (Dec 28)
Mac & Linux desktop wallet (Jan 5, 2018)
multi-exchange trading (Jan 10)
official mining pool introduction (Feb 20)
community support (March 20, 2018)
improve website features (April 20) long?
Android App Wallet (May 20)
iOS Wallet App (June 20)
International Blockchain Finance Event
Investing into other start-ups/solutions
Debit Card (Nov 25, 2018)
B2B & B2C Payments (Jan 1 2019)
Crypto coin/community ecosystem
I guess if you are still reading this post and nothing has changed by February 1, 2019 you could have done very well for yourself if all of this comes to fruition and actualizes.
But just to remind you of today, the whitepaper, by the way, consists of just 20 vanilla pages with no technical information about the platform or how it works/has user value.
The Ucoin Cash ICO
Ucoin Cash’s ICO is scheduled for November 15 to December 15. You can purchase an unlimited amount of UCH tokens during the token sale. You also get a 5% referral bonus when you refer anyone to the platform.
The price of the tokens is set at $0.80 USD to $1.20 USD, with the price increasing towards the end of the sale.
To participate in the ICO, visit UcoinCash.co, then deposit BTC and ETH into your account prior to the token sale. Ucoin Cash appears to be launching its ICO through a similar structure to USI Tech and other cryptocurrency mlm models, where only a certain number of tokens are available each day for withdrawal and in order to inflate demand.
Here is how uCoinCash UCH Token promotion is going for their upcoming ICO launch:
ucoincash token promo
The crypto-universe has saw a dramatic uptick in activity unfold over the corse of the past year, seeing a $975 Bitcoin Price January 2017 to over $7,700+ per BTC in November. Ethereum has done much of the parabolic movements going from $7 to $400 at one point this year. The newfound excitement and interest in the public eye gives way to greater attention and there for systems setup to help you grow your earnings and invest in coins that require many things to go right in order for it to be worth while. The space is very new and the potential ponzi trap setups are readily available so it is wise to understand almost anything in this industry is a risk – yet is it one you are willing to try – but always remember the golden rule of investing in never risk more than you can afford to lose.
Ucoin Cash Conclusion
Ultimately, Ucoin Cash gives us no reason to believe it’s a legitimate investment opportunity. There are way too many red flags about the company to list – from the childish whitepaper to the horrendous grammar to the 48% per month guaranteed ROIs. The team refuses to tell us any information about itself, yet expects investors to deposit BTC and ETH into their platform in preparation for their ICO on November 15.
Based on all of the information we can find online, Ucoin Cash appears to be yet another blatant Ponzi scheme, lending scam, or pyramid scheme. But you can see their lending program for yourself.
Link : https://ucoincash.co/ref/thangtb