FTCoin, found online at FTCoin.io, is a cryptocurrency-based investment ecosystem built on blockchain technology. Here’s our FTCoin review.
What Is FTCoin?
FTCoin, found online at FTCoin.io, is an automated trading and investment service built on blockchain technology.
The company uses the Ethereum blockchain and Ethereum smart contracts to help investors create the ideal investment portfolio.
The FTCoin ICO began on September 10, 2017 at 3pm UTC. It continues until November 10 – so you have plenty of time to get in on the action.
Ultimately, there’s relatively little information about FTCoin available online – either at the official website or online in various news sites and blogs. The whitepaper, meanwhile, is just four pages long and mentions few technical details about how the platform works. It variously refers to the token as “FTCoin” or as FTT.
Let’s take a closer look at how FTCoin works.
How Does FTCoin Work?
As mentioned above, there’s limited information about how FTCoin works or what the token does. Most of the website – and most of the four page whitepaper – is dedicated to explaining details of the ICO.
Here’s how the company explains itself in the official whitepaper:
“Digital ecosystem FTCoin is a digital project based on blockchain technologies aimed to create a decentralized investment and trading system. It ensures stable investment income by distributed and automatized trading, based on leading trading systems and optimal portfolio of digital and fiat currencies, shares and other trading instruments.”
Can you make sense of that? Because I certainly can’t. Overall, FTCoin seems to be promising investors that they can create a perfect investment fund made from cryptocurrencies. That fund also contains a small amount of USD to help hedge against industry volatility.
One of the most worrying parts about the FTCoin whitepaper is how it guarantees investment returns:
“[Investors will] have guaranteed and stable income during all terms of investment… Exchange, buy and sell tokens FTT and crypto-currency FT, secured by confirmed yield of more than 10.5%.”
Based on these sentences, found on the first page of the FTCoin whitepaper, the company seems to be promising guaranteed returns of at least 10.5% per year. When somebody promises to offer guaranteed returns in any investment – especially cryptocurrencies – it’s a red flag.
The FTCoin ICO
As mentioned above, we know virtually nothing about how FTCoin works or what its investment goals may be. The site spends most of its time explaining the ICO and how it works.
Each FTT token will be priced at $10 USD. There will be a total supply of 5 million tokens.
93% of the total supply will be available to investors, while 6% will be given to founders. 1% will be kept as rewards.
The token sale is taking place between September 10 and November 10, 2017.
90% of funds raised during the token sale will be dedicated to investments. The remaining 10% will be dedicated to project development at various stages. One of the funding goals, as outlined in the whitepaper is, “Implementation of a set of measures and solution of the problem, ensuring the fulfillment of the stage.” Whatever that means.
How Can FTCoin Guarantee A Profit?
How does FTCoin plan to generate guaranteed 10.5% ROI?
The company claims that they have a system that provides a guaranteed yield of $243,299 on an initial investment of $1,178,538. That yield pays out every period, and every period is fewer than 500 days.
The yield is “confirmed by Proof-of-FT protocol and independent ratings.”
Instead of just guaranteeing 10.5% ROI, the whitepaper actually claims that “it gives more than 15% of annual profit.”
This money doesn’t just come from thin air. The company claims that the fund’s money is traded by a group of 25 traders who trade on a forex platform called Alta-Forex. That platform is managed by Alta Capital Holdings, a Cyprus-based company regulated by the Cyprus Securities and Exchange Commission.
Who’s Behind FTCoin?
Obviously, there are a lot of unusual things about FTCoin. So who’s behind this company?
FTCoin is led by Pavel Kasparov (General Director), Svetlana Savostova (CEO), Vadim Bobenko (ICO Project Manager), and Aleksey Kobelev (Deputy Managing Director). The website has limited information about any of these individuals. The links to their social media profiles are almost all broken. No further details are available about the background of these individuals.
You can get in touch with the company by email at [email protected] It’s unclear where the company is based.
FTCoin is an unusual investment that claims to pay over 10.5% guaranteed return on investment – or even over 15% profit. It’s hard to understand anything on the FTCoin.io website. The website is brief and poorly-worded, and the whitepaper is just 4 pages long. Most of the website and whitepaper are spent talking about the ICO – neither the website nor the whitepaper mention many technical details about the platform or how it works.
FTCoin appears to get its guaranteed ROI figures from a group of 25 traders who trade on a Cyprus-based forex change. The company claims these traders can make profits of over 15% over a 500 day period.
Ultimately, FTT tokens are on sale at FTCoin.io from September 10 to November 10, 2017.