FineCoin claims to be “the Europe’s finest cryptocurrency.” Seriously – that’s the top headline on the official website. Find out why it’s a scam today in our review.
What is FineCoin FINE?
FineCoin, found online at FineCoin.io, is a cryptocurrency scam that aims to “rebuild the financial system” by giving everyone “financial freedom” through passive income.
Obviously, when you see a cryptocurrency talking about “financial freedom”, it’s a red flag you’re dealing with a scam. Legitimate cryptocurrency teams know that the industry is extremely volatile. That’s why they avoid making earnings promises to users. FineCoin, on the other hand, is claiming that anyone can get rich quick through the platform. In fact, they guarantee that every investor will multiply their money 20x by February.
FineCoin also claims to have over 10,000 members. The project was launched in January 2018. However, the company has no product or service in place at the moment.
Based on everything we can see online, FineCoin is a complete scam. However, let’s take a closer look at how this cryptocurrency aims to revolutionize the world’s financial system.
How Does FineCoin Work?
FineCoin was purportedly developed by “Europe’s brightest minds” with the goal of creating a global, decentralized community where people can “take charge of their assets and start earning passive income today.”
Like other crypto scams, FineCoin doesn’t appear to solve any real world problems, nor does the company offer any products or services. Instead, the company is focused entirely on a “lending program”.
Obviously, when you see the word “lending program” on a cryptocurrency website, you can safely replace it with “Ponzi scheme”. Scams like Bitconnect were notorious for their Ponzi-like “lending programs”. FineCoin seems to offer identical products and services to BitConnect.
FineCoin Investment Packages
If you give FineCoin a bunch of money, they’ll magically turn it into more money in a short period of time – despite the fact that the company has no business model in place. Here are the different investment packages available:
Basic ($100 to $1000):
Daily interest rate, capital locked for 240 days
Standard ($1001 to $10,000):
0.10% guaranteed ROI per day + daily interest rate, capital locked for 180 days
Professional ($10,001 to $25,000):
0.25% guaranteed ROI per day + daily interest rate, capital locked for 120 days
Enterprise ($25,001 to $50,000):
0.35% guaranteed ROI per day + daily interest rate, capital locked for 99 days
FineCoin also has a multi-level referral scheme where you can earn commission down 3 levels. You get paid 5% on the first level, 3% on the second level, and 2% on the third level.
The FineCoin FINE ICO
Tokens are being sold for $1 apiece during the ICO. If that sounds like a lot of money for a value-less digital token, then consider the fact that FineCoin guarantees the price will rise to $70 before the end of 2018:
“Looking at our competition and by evaluating the existing market demand, we can ensure that the tokens will increase between 8x and 16x in the first 20 days after the exchange is opened, and between 12x and 20x when the lending platform is opened.”
Yes, FineCoin is legitimately claiming that they’ll be able to multiply your investment by 20x in just a few weeks.
Who’s Behind FineCoin FINE?
FineCoin refuses to disclose any team or location information. They’ve only listed one possible contact method: [email protected] There’s no other way to contact the company.
If someone asks you to send money for an “investment” online, but refuses to disclose their identity, it means you’re probably being scammed.
FineCoin FINE ICO Conclusion
FineCoin is one of the worst and most obvious cryptocurrency scams we’ve seen in recent weeks – and we’ve seen a lot of scams. The website is filled with ridiculous earning claims for the project. The company guarantees the value of their token will rise 20x by February, for example, and they advertise exorbitant daily returns for those who participate in the lending program.
Unless you feel like donating money to a team of anonymous scam artists, FineCoin is one ICO you should absolutely avoid.