OneCoin is best known for its ever promised annual launch that is procrastinated per year. The bank of Uganda previously warned citizens about this particular crypto. Well, the biggest threat in all is investing your hard earned cash into a currency you are not sure of even sure of its progress. However, today we shift our focus to one coin so as we tell if it’s legit or yet another scam in East Africa.
What is One coin and what the founders focus to in blockchain
One coin is a core project founded by One life which is a Bulgarian based blockchain affiliated company. However, In Uganda alone, this particular coin has got itself a name as many users have so far purchased the promised shares.
While many sales agents promise heaven on earth that this particular coin will cost over 100 Euros. The fate of One coin lies between denial and a Scam that has fetched unsuspecting users in a small period of time.
OneCoin was started by Ruja Ignatova, a Bulgarian woman who claims that she graduated from Oxford ‘though there no proof of this. Even though the project claims that it is “the first transparent, global Cryptocurrency for everyone,” it’s not that difficult to see that the whole scheme is a scam and that there is no transparency there.
The OneCoin francus, what you should know and what you must avoid
A few months ago, we’re approached by one of these popular One coin agents to a point that we decided to reflect some light in this prophesized cryptocurrency. While the agent clearly promised to us that OneCoin is the first transparent crypto the world shall ever see. It took us no hefty amount of time to realize that this particular coin is not power by Blockchain technology.
A blockchain, originally blockchain, is a growing list of records, called blocks, which are linked using cryptography. Blockchain technology powers the world’s popular cryptos including Bitcoin, Litecoin, and Ethereum. However, OneCoin is a pure scam with no base on the network. Therefore, the core points you need to jot about OneCoin is that it’s not as transparent as it claims nor the value its prophesized for (100 Euros).
Our Verdict
At Tech Point Magazine, our promise is to bring you the best unbiased tech feeds. Henceforth, we surely confirmed that OneCoin is just another scam you can easily avoid and go past without alot of thinking required. Although an agent approached us promising heaven on earth, you can look out for other trending cryptos like Bitcoin which are surely legit and can be purchased easily on the internet. Unlike One Coin which is by the way not listed on any crypto exchange website. You should not look back on moving on to the crypto industry without any sort of fraudsters haunting your back.