Golden Gate Investments One Coin ICO is a new cryptocurrency available through a multi-stage ICO between October 2017 and July 2018. Find out everything you need to know about One Coin today in our review.
What Is Golden Gate Investments One Coin ICO?
One Coin, found online at OneCoinICO.io, describes itself as a “cryptographically secure, peer-to-peer cryptocurrency that allows for instant and cost saving payments.” The token also promises to offer global accessibility.
Obviously, most cryptocurrencies offer cheap payments and international transfers. So what makes One Coin different? The developers never really explain. The website has no listed products or services. The developers don’t claim to be solving any real world problems, nor do they target any specific industry or group.
The long-term goal of Golden Gate Investments One Coin ICO, according to the official site, is to create an ecosystem of products and services for users and merchants. These products and services will increase the value of One Coin, and ultimately, the coin plans to be “one of the biggest reserve currencies worldwide.”
One Coin is being developed by OneLife, a Europe-based multilevel marketing company. However, a Dubai-based shell corporation called “Golden Gate Investments” is also linked to the project (both are mentioned on the official website, but it’s not totally clear how either company is involved).
With that in mind, let’s take a look at whether One Coin is a scam or a legitimate investment opportunity.
One Coin Features
Golden Gate Investments One Coin ICO’s official website advertises all of the following features:
- Global Access: Instant cross-border payments.
- Stable: The coin has low volatility and is unaffected by inflation.
- Unique Ecosystem: One Coin will develop products and services “for mass-market usage, globally”
- Transparent: One Coin describes itself as “transparent and secure” because it maintains “a continuously updating digital ledger of all transactions”
- Safe: One Coin offers cryptographic security
- Scalable: One Coin claims its blockchain can handle millions of user accounts.
- KYC and AML Compliant: One Coin’s blockchain forbids anonymous transactions. All One Coin users are required to go through KYC/AML verification.
Ultimately, most of these features are the same features you see in other cryptocurrencies. One Coin’s advertised features are identical to any other cryptocurrency. However, these are the features the developers have chosen to advertise on the official website.
Based on the information above, it’s hard to see how One Coin is different than any other cryptocurrency. There’s an overall lack of information and transparency about this project.
The Golden Gate Investments One Coin ICO
Instead of going into further detail about its features and unique selling proposition, One Coin’s website focuses mostly on the ICO. That’s a red flag that you’re dealing with an ICO scam – which One Coin appears to be.
The ICO is scheduled to take place between October 25, 2017, and July 11, 2018. There will be four rounds to the ICO.
You can’t just buy 10 or 50 OFC tokens during the ICO. Instead, investors are funneled into four different investment packages, including:
- 150 EUR: 1500 OFC tokens
- 1100 EUR: 20,000 OFC tokens
- 5500 EUR: 100,000 OFC tokens
- 11,000 EUR: 300,000 OFC tokens
These OFC tokens are not the same as ONE tokens. However, on October 8, 2018, all OFC tokens will be converted to ONE tokens. This is the date the cryptocurrency is expected to launch.
In exchange for EUR, you just get OFC tokens. There are no additional benefits to any of the above packages. There are no education programs and no products or services. Basically, you’re paying an anonymous company a lot of money for something with no apparent value.
There’s a total supply of 120 billion ONE tokens.
Who’s Behind One Coin?
One Coin’s ICO website lists the name Golden Gate Investments. That company claims to be a limited liability corporation registered in Dubai. The corporation explains that it is “engaged in various activities, including but not limited to investment and management of commercial enterprises.” Whatever that means.
We can find no additional information about Golden Gate Investments available online.
The entire One Coin ICO is operated by OneLife, a multilevel marketing company. However, the exact link between OneLife and the One Coin ICO isn’t totally clear. The two websites seem hosted on the same servers. However, OneLife’s website doesn’t mention anything related to One Coin.
The One Coin ICO website, meanwhile, was registered on September 21, 2017 to an anonymous individual. However, One Coin claims that its affiliates have been investing in the company since 2014.
Is Golden Gate Investments One Coin ICO A Scam?
Golden Gate Investments One Coin ICO appears to be a blatant scam. The developer claims to have plans to make One Coin one of the world’s largest cryptocurrencies. However, there are no products or services linked to the currency. Despite the fact that the currency has no apparent value, One Coin is selling investment packages for 150 to 11,000 EUR. Your investment package gets you a promise of receiving ONE tokens in October 2018.
Ultimately, there’s an overall lack of transparency about the One Coin project. The information we do see online suggests that it’s one big investment scam or Ponzi scheme. Why would anyone give thousands of Euros to a project with no discernable products or services? I have no idea. But for now, you should definitely steer clear of the One Coin ICO.