Invacoin, or IVA, is a digital currency based on the blockchain. The goal of the currency is to become the global currency for gamers worldwide. Here’s our review.
What is Invacoin?
Invacoin is a cryptocurrency designed with the goal of creating a global currency for worldwide gamers. Like similar platforms, Invacoin aims to create faster transactions and a more transparent gaming ecosystem. At the same time, all Invacoin transactions are anonymous. They’re publicly viewable to anyone – but nobody can connect that transaction to your identity.
Overall, Invacoin emphasizes benefits like speed, privacy, and security. The currency is catered towards gamers and developers.
That all sounds good. However, Invacoin appears to be another cryptocurrency investment scheme. There are numerous red flags telling us that Invacoin is a scam – including a lending scheme that promises to pay you 45% returns per month.
Invacoin Features and Benefits
Invacoin wants to introduce cryptocurrency-related benefits to gamers and developers. Here are some of the features and benefits both parties can expect from the platform:
- High Speeds: The Invacoin payment system is built on blockchain technology. As the official website explains, “It is extremely faster and less fees than the others.”
- Scalable: Invacoin’s blockchain technology can purportedly scale up to handle “tens of millions of transactions simultaneously.” That’s significant power even for faster blockchains.
- Advanced Protection: Invacoin claims to have “an advanced protection and data analyzation system equivalent to current enterprise bank level payment processing solutions.” This means parties enjoy advanced protection while conducting transactions on the network.
- Blockchain Security: Transactions are handled by the Invacoin blockchain wallet, making everything verifiable and transparent.
- Commission Fees: Invacoin takes a 10% cut (!) of every transaction on the platform. Although that may seem high, Invacoin claims other platforms charge 30% fees.
- Receive Payments Faster: Up above, Invacoin claimed that transactions can be completed instantly. However, developers won’t receive payments instantly – they’ll need to wait one hour to receive payments.
- Higher Deposit Limits: Invacoin offers limitless deposits.
- No Chargebacks or Fraud: Invacoin claims to offer no chargebacks or fraud, which means gamers cannot reverse transactions. After all, the entire system is built on the immutable blockchain ledger.
- Rapid Promotion: Developers have various promotion options within the Invacoin platform.
- Easy Integration: In-game payments “are not hindered by any barriers,” explains the official website, nor are they “interrupted like using credit card.”
- More Deposit Options: Gamers can deposit money into their accounts in a variety of methods – not just credit cards.
- Higher Deposit Limits: There are no deposit limits on the Invacoin wallet.
- Purchase In-Game Items: Gamers can use Invacoin to purchase in-game items.
- Increasing Value: Invacoin expects its token to increase in value as more users adopt it.
- Transferability: The Invacoin wallet makes it easy to transfer Invacoin tokens to other gamers.
- Anonymous Transactions: All Invacoin transactions are anonymous.
If these features and benefits seem a little unusual to you, then you’re not alone: the features and benefits, as listed on the official Invacoin website, are vague and unhelpful. The company mentions features like “transparency” and “anonymity”, for example, but it doesn’t go into much detail about these benefits.
As you continue reading the Invacoin page, however, you’ll realize why the company makes unusual promises: it’s all part of a big lending scheme, and Invacoin has all of the red flags we associate with a crypto scam.
The Invacoin Lending Program
Invacoin advertises itself as a cryptocurrency for gamers. In reality, however, the token appears to be mostly focused on a lending program. The company promises to pay you 45% returns per month in exchange for participating in that lending program. They will also pay you 0.20% returns per day.
You just give the company your money (anywhere from $100 to $100,000). They lock it up for a period of 99 to 239 days. Then, that money magically grows by 45% per month. The company advertises yearly profits of 540%, which is better than any hedge fund or investment fund in existence.
Here’s how much you’ll earn through the Invacoin lending scheme:
- $100 to $1,000: 45% per month, money unlocked after 239 days
- $1010 to $5000: 45% per month + 0.10% ROI per day, money unlocked after 179 days
- $5010 to $10,000: 45% per month + 0.15% ROI per day, money unlocked after 120 days
- $10,010 to $100,000: 45% per month + 0.20% per day, money unlocked after 99 days
Is Invacoin a Scam?
Ultimately, even the best investment funds don’t advertise double digit returns per year. They don’t want to mislead investors.
Invacoin has all of the red flags associated with an investment scam, including:
- The company promises profits of 45% per month and higher
- Investors can purportedly earn “540%” returns per year
- The tokens are being sold for under $1 today, but the company claims they’ll be worth $80 before the end of 2018
- The company has a pyramid scheme-style referral system that pays you, down 7 levels, to refer people to the platform
All of these features are red flags typically associated with a cryptocurrency investment scheme. If someone is selling you a $1 digital token today and claims it will be worth $80 within a few months, that’s a sign you’re probably being scammed. Nobody does that.
Who’s Behind Invacoin?
One of the easiest ways to spot a cryptocurrency investment scheme is to look for team information: if the company refuses to disclose transparent contact information or team info, it’s a sign you could be being scammed.
Such is the case with Invacoin, which has no team information posted online whatsoever. We can’t even find an email address or phone number with which to contact the company.
InvaCoin IVA ICO Conclusion
At first glance, Invacoin seems like a legitimate company aiming to create a gamer-centric cryptocurrency. It doesn’t take long, however, before you realize that Invacoin is a scam. The company advertises a sleazy lending scheme. The company is selling digital tokens for $1 today while promising investors that the tokens will be worth $80 before the end of 2018. There’s no transparency about any aspect of the company.
For all of these reasons, we can find no evidence that Invacoin is a legitimate investment opportunity. Based on all the information we can find online, Invacoin is an investment scam at worst and a poorly-thought business at best.