If you’ve been hearing a lot about MartCoin lately, it is because it is a popular yet an unusual Cryptocurrency project. The project has managed to build a hype around it especially on social media. The concept sounds interesting because there is a wheel of fortune on the site as well.
Since MartCoin is an interesting subject to talk about, we have put together a review of this website here so you can make an informed decision when it comes to signing up.
The questions that this MartCoin review will be addressing are whether or not it’s a scam. We will also tell you whether or not you can make real money here.
The first thing you will notice is that the site does not mention who owns this company. In addition to that, we find that information pertaining to their physical location is missing as well. We don’t even know when it was launched, although we are able to find some hints on who.is that this project was probably launched late last year.
This lack of background information is somewhat disturbing as many scams have entered this space and are using anonymity to keep their activities off the radar of authorities.
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Who.is tells us that the domain MartCoin.io was registered in October 2017. Since the domain is privately registered, we cannot see who owns the website. That is quite disturbing as we don’t understand how someone can launch a serious project and opt to stay anonymous.
This is a very important question to ask. Before you join any Cryptocurrency project, you should definitely be concerned with this question. On the other hand, the answer should be crystal clear. We prefer to see that answer on their whitepaper.
Now, MartCoin does not have any real product to start with. Equally, there is no service that is being offered here. Also, there is reference to affiliate membership, meaning that if you join, you can earn extra money by referring others to join under you. Usually, we are not a fun of these things because such a business model is not sustainable in the long run.
For that reason, only ponzi schemes will adapt such a business model as a way of getting more investors. In the end, only the operator of the shady website will benefit as opposed to the member.
MartCoin is a token. The token is supposed to be priced at $290 by June 2018. That’s why we said earlier that there is no tangible product or service here.
There are several startups that are currently selling tokens on the internet. Most of these status don’t have a solid idea to back the project, and thus they are just ponzi schemes. A few others are legit because they have a solid idea that can attract the attention of investors on a global scale. And in that sense, the value of their coins can always rise because there is a demand for the service which they are offering.
Unfortunately, MartCoin is not one of them. The token that this site is selling is going for $0.50 per token. According to our calculations, this shows that you can enjoy as much as 600 times profit in just 5 months from now.
Now, you know very well that when a stranger is promising such returns, something is usually wrong. Most of the time, you will find that you’re dealing with a shady operation. At worst, you find that this is just a rip off operation where investors are bound to be scammed. Remember that when profits are too good to be true, chances are that it’s a scam. Also, when someone is promising you specific daily returns, you need to run as fast as your legs can carry you.
MartCoin is one of the numerous ERC20 tokens built on the Ethereum blockchain. According to the site, this coin is described as a “lending 2.0 spinning process” or a “global betting platform”which is based on the Ethereum blockchain.
You might think that this jargon means something valuable. But in the real sense, these things mean that Mart Coin is a blatant ponzi scheme.
In fact, this site is making ridiculous promises which are obviously hard to believe. What they call ”the lending 2.0 spinning process” is nothing more than a wheel of fortune on their homepage. You are supposed to spin it on a daily basis for your chance to win a prize.
Now, the wheel will obviously land somewhere when you take a spin. On a bad day, the wheel will land on a spot that makes you 1% daily return on investment. On a good day, the wheel will land on a spot that makes you $67 per day.
Sounds interesting, right? The reason why all this nonsense is sounding so interesting is because this is a unique blend of blockchain technology with gambling.
Like we said, MartCoin does not have any real product or service to offer. Instead, it operates a ponzi scheme where new depositors can put money in a common fund so that older investors can get paid thereafter.
MartCoin has adapted a generous network marketing campaign, and then included an excellent pyramid scheme structure where new members can deposit money to keep their operations active.
You know very well that such kind of activities are not permitted or recognized as income generating activities on the web. But of course they are universally recognized as gambling or playing the lottery on the web.
Furthermore, there is some reference to sports betting. This is just a reference that was mentioned in the passing. There are no details about the sports betting platform which they claim is integrated into MartCoin website.
Now, let’s see how MartCoin is fooling investors. The following ways describe how people can make money in this scam:
-You sell tokens to others to make 8% daily return on investments
-You earn 67% per day as returns
-Referral commissions is up to 16% across 7 levels deep
-You are going to sell the tokens you acquire now as soon as price hits the projected $290.
If you combine all of these things and put them in a basket, you will see that they are nothing but red flags.
You see, it doesn’t make sense to sell a product now at $0.50 and then 6 months down the line, its worth is $290.
Besides this, the creator of this website also claims that investors should be assured of the fact that the price of this token will hit $290 by June (a guarantee).
Let us remind you one thing: when you come across such promises from strangers, know that the person speaking to you is a scammer who just launched a cash cow. No exception.
Nobody can say that MartCoin is a legit Cryptocurrency operation. This scam doesn’t have any product or service to offer. Moreover, MartCoin website does not disclose any information pertaining to their team members. This project is actually not solving any problem in the market. So how can price increase to $290 in a couple of months?
Please, avoid this scam. If you want to invest, pick these websites instead. You’ll have saved your dollars.
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