The new currency is promising to revolutionize the cryptocurrency world. They’re making claims that will get you rich fast, with no work and no skill. We’re going to look deeper into it to see as to whether or not this is true or false.
What is Falcon?
You can find the coins website at FalconCoin.io and they claim to be one of the best lending platforms in the cryptospace. The problem with that is, there really are no good companies that do lending when it comes to cryptocurrency. They’ve already gone through their crowdsale in 2017, when a lot of people took them as a company to be trusted entirely.
When you first look at the company, they look like many of the other lending companies. BitConnect, RegalCoin, Nextra and many others. They’re all looked as scams already and so is Falcon as well. The companies are basically Ponzi schemes that lure in would be investors that will lose money because they companies are already setup to fail. Of course, there is always going to be a small group of people who will make money from these types of scams.
Like many of these scams, Falcon floats around a lending platform that is never really explained in full. They promise huge returns on a massive scale, but in reality – there is no guarantee as they promise. There’s no skill needed and very little investment, but of course, the more your invest the better off you’ll be. And they will mysteriously turn your money into profit.
They also mention a trading robot, something that these other companies have done as well. But again, there is no evidence of these bots existing. This is a standard claim by nearly all of these lending platform pyramids. And they never disclose any information on them either.
How Does Falcon Coin Work?
The coin makes huge claims of 46% payouts each month, with no reason why this happens. They also claim that many people will be earing an APR of 300% or more each year so they can borrow money. It’s very uncertain as too why this would happen, or how the company could possibly make payments every day.
When looking at the site, the coin looks like an obvious Ponzi scheme that has nothing to do with real investing like they claim.
Just so you know, a Ponzi is a platform that takes money from investors without any type of actual business. There are no products or services offered and all of their promises are never fulfilled. Instead they make huge claims and count on people’s need for fast money to lure them in, so they can take everything they can get from them. And, they also make it impossible to withdraw money from them because of unrealistic rates and other requirements they have that a never be achieved.
Eventually, people catch on to the fake scheme and stop investing. Then, the company collapses and the only people who get paid are those who are in a select group of individuals.
And when it comes to Falcon Coin, there is no transparency or reason to invest with them. They look to be a regular old Ponzi scheme like the countless others trying to take care of the Bitcoin and cryptocurrency industry.
What is the Falcon Coin ICO?
The Falcon Coin started ICO last year and they released 6.25 million of the coins out of 32 million. It’s not even certain how many are in circulation as of now. You also get a percentage for referring people to the platform which is also a definite scam that you should be cautious of.
Who’s Behind Falcon Coin?
There’s no certainty, the company is more focused on getting new investors and referrals then explaining what they do. They have no transparency, and they appear to be another Bitcoin Scam looking to rip people off. There’ no physical address for the company ether.
Basically, if you give them money, you have no idea who gets it or where it goes. It’s a bad idea, especially considering most of their followers on social media platforms have nothing but complaints to report about the company. Never give your money to someone who is anonymous online is what it comes down to.
The company is a crypto investment scam that will rip you off and take what they can. They’re no different then several of the other ones who’ve been on the market and their promises of massive ROIs in the realm 46% are ridiculous. There is no safety in investing with this company, and there are already likely a lot of people who’ve lost capital. It’s a Ponzi Scheme, plain and simple and if you want to make money with Bitcoin, stay away from Falcon Coin.