BankCoin.io offers daily interest through staking, lending, and lotteries. Find out if it’s a scam or a legitimate opportunity today in our review.
What Is BankCoin?
BankCoin.io is a cryptocurrency-based investment system where you can earn money through savings accounts, lending programs, and lotteries.
The website claims you can earn daily interest by placing your coins in a savings account, for example, or by staking your coins. You can also mine coins, access an automated trading bot, participate in a global anonymous blockchain lottery, or engage in P2P lending.
An ICO for BankCoin tokens began on December 20, 2017.
BankCoin advertises itself as a powerful investment opportunity where investors can earn an enormous amount of money. Here are some of the core features of the platform:
Deposit Ethereum Or Bitcoin:
BANK tokens are available for purchase during the ICO period (December 22 to January 6) in exchange for BTC or ETH.
You can exchange BANK tokens on the BankCoin.io built-in exchange. The tokens are not listed on any other exchange.
You can earn daily interest by placing your BANK tokens in a savings account. BankCoin.io will pay you 45% per month.
You can earn interest rates of 45% per month and more by participating in BankCoin.io’s short-term lending program. Terms range from 7 to 45 days, with daily interest rates of 0.15% to 0.35%.
AI Trading Bot:
BankCoin has some type of AI trading robot where you can earn profit by leaving your money with an automated trading system. A robot makes trades on your behalf to earn a profit. This robot is so successful that the company promises you’ll earn 45% per month. You don’t have to do anything – you just deposit your coins in your savings account, and the robot will start making trades on your behalf.
You can earn money by referring other people to the platform.
Mega Millions Lottery:
BankCoin claims to have a “mega millions lottery” built on the blockchain. That lottery will be provably fair, with a winner selected at random from a pool of participants. This lottery system does not seem to be currently available, although it’s listed as a possible upgrade for the future.
You can earn 18% per year by staking your BankCoin in your wallet.
An ICO for BankCoin tokens begins on December 20, 2017 at 13:00 UTC. The company is restricting the number of BankCoins that will be sold each day. only 100,000 BankCoins will be sold during the first day at a price of $0.50, for example. By the last day of the token sale (January 6, 2018), a total of 600,000 BankCoins will be available at a price of $1.20 per token.
ICO participants are restricted from buying a certain number of tokens. You can only purchase $50 to $200 worth of tokens per day, for example.
Who’s Behind BankCoin?
BankCoin.io, like most online scams, doesn’t list any members of its development team or executive team. There’s no information about who’s running the company, why they’re qualified to manage your investment, or where they’re located.
A pie chart on the official BankCoin.io website lists a breakdown of members. The company claims to have over 15,000 members. The vast majority are from Indonesia, Vietnam, the United States, South Korea, and India.
The scam first launched online in November 2017. There’s no contact information for the company listed anywhere online.
BankCoin.io is an obvious bitcoin lending scam. The company claims to have some type of lending scheme that will pay users 48% per month in exchange for depositing their money into the platform. The company also mentions staking, automated trading, and other profit generating systems.
In reality, BankCoin.io seems to be similar to well-known scams like Bitconnect and Regalcoin: there’s no actual investment or lending system in place; instead, the company operates like a Ponzi scheme, where the returns of older investors are paid by the deposits of newer members until the scheme inevitably collapses.
Based on the limited information available online today, we see no reason to believe BankCoin.io is a legitimate investment opportunity. It appears to be a blatant scam.