Becareful with scam coins. Scam coins just destroy cryptocummunity. Cryptocurrency is created to make payment save and secure. No cheating no suspending. But because one or more scam coins the cryptocummunity earn bad crediblity.
Lead Consultant at One27 Global Consult, Solomon Barnabas tells Cointelegraph about his ordeal at the hands of vendors of scam coins.
Barnabas says that such coin vendors always sold more referral programs to unsuspecting members with claims that the crowdfunding is necessary for adoption. This he said has caused him a lot of losses both in cash and credibility.
Barnabas says:
“The problem with such programs is that they do not only end up with losing your money, they mess up your relationship with friends and loved ones. The people that you refer to most from these programs are predominantly those who join because they trust and believe in you. Imagine having to struggle to rebuild a reputation that was built over almost a lifetime.”
Here are top three scam coins you should avoid.
- Onecoin
It is the biggest scam coin ever. It is a fake cryptocurrency. - S-Coin (Coinspace)
It is like onecoin. Like other ponzi sceme it uses pyramid refferal systems. - Earthcoin
The third top scam coin identified by Lazar is EarthCoin. Although a quick search on coinmarketcap.com reveals a market cap of $935,638 and an available supply of 9,346,468,332 EAC, Lazar does not seem convinced that the coin is genuine.
This coin also has its superblocks, whose coins were vastly pre-mined and even instamined, suggesting that some or all of a coin’s initial supply is generated automatically by the developer at, or prior to, the public launch, rather than being generated over time through a form of mining. Such tricks are usually applied in a pump and dump set-up schemes.
Link : https://cointelegraph.com/news/onecoin-leads-top-3-scam-coins-list-s-coin-earthcoin-follow