Just like any other profitable online business, cryptocurrency trading platforms have been infiltrated by fraudsters. There are many scammers that prey on people who do not have adequate knowledge. Unless you know how to find the right trading platforms, chances of ending up losing your cash will be high. One of the sites that have a questionable reputation in this niche is AUSCOIN (https://www.auscoin.io/).
What AusCoin Claims To Do
According to their website, they are a platform that seeks to integrate cryptocurrency into the daily lives of people. They go ahead to say that they have the perfect plan to completely change the way people trade in cryptocurrency. When you read further, you will be told that they can revolutionize all conventional contracts between businesses, organizations, individuals, and all the players in between.
However, that is as far as it goes. They have a good intention, but there is no proof that they have achieved anything. In fact, besides what they say about themselves, there is nobody who can testify that they have helped in revolutionizing their trade. This is a strong indication that the site may not be doing what they claim to do. To add to that, they do not provide any further information with regard to this.
The Real World ATM Network
A visit to their website will lead you to a lot of hype about a real-world ATM network that the company uses for transactions. In their own words, this network is spread all over Australia. The purpose of this network is to bring cryptocurrency into the mainstream, and increase its popularity. It is supposed to make trading in digital currency a normal and ordinary occurrence everywhere.
This would have been a wonderful idea, but just like the many other allegations on their website, there is nothing to support it. The information about ATMs seems to be just mere talk. Ask them about this network and they will not give you any straightforward answer. The truth is that you can trade in any digital assets without the ATM network that they seem to overemphasize.
Another crucial point to note from this website is when they mention that they want to emulate Bitcoin, yet they are using an approach that is totally different from what bitcoin did. They may be keen on making their coin as popular as the leading one, but they do not have the right strategy. Rather than growing the coin, they seem more focused on hyping it, and blowing things out of proportion.
The AusCoin ICO Scam Verdict
From all angles, AUSCOIN is not a good platform to invest. Everything about it points at fraud. The worst part is that there is nobody who has come forward to say that they bought and sold this coin.
In fact, the hype is just on their website, and they seem keen to use it as a tool to swindle anyone who falls prey. If you want to invest in cryptocurrency, you are better off choosing the ones that have been tested and proven.