MartCoin, found online at MartCoin.io is a global betting, lending, and spinning platform. Find out how it works today in our review.
What is MartCoin?
MartCoin is an unusual cryptocurrency project that’s launched with promises of enormous returns for investors.
Typically, the easiest way to spot a scam online is to find ICOs that promise specific returns on investment. MartCoin claims its token will be priced at $290 before June 2018. During the ICO, you can buy a token for just $0.50. In other words, you can enjoy nearly 600x profit in just 7 months by investing in MartCoin today.
Obviously, when someone advertises returns like this, it’s not a good thing. At best, you’re dealing with a shady business scheme. At worst, you’re being completely scammed. With that in mind, let’s take a closer look at how MartCoin claims to work.
How Does MartCoin Work?
What does any of that mean? It means MartCoin is a blatant Ponzi scheme. The platform has one of the most ridiculous promises we’ve ever seen. The “spinning” process refers to spinning a wheel on the MartCoin.io homepage. Based on where that wheel lands, you’ll be paid anywhere from 1% per day to 67% per day. You get 1 spin per day.
There’s no MartCoin product or service. It appears to just be a Ponzi scheme: everyone deposits money into a fund, and then older investors get paid by the deposits of new members. The fund is propelled by a generous network marketing campaign and pyramid scheme structure, then eventually collapses when no new members can be recruited.
MartCoin also mentions some type of sports betting platform, although there’s no detail about that betting platform or how it works.
There are four ways to make money through the MartCoin ecosystem, according to the website:
- Earn 8% commissions for selling tokens to people
- Earn 67% ROI per day
- Earn affiliate marketing commissions of 16% across 7 levels
- Sell tokens when the price hits $290 per token, which is expected to occur by the end of Q2 2018
Ultimately, all of these things are huge red flags. Nobody sells a product for $0.50 today on the expectation that it will be worth $290 within 6 to 7 months. Nevertheless, the creators of the MartCoin token claim that investors can expect their token to be worth that price before June. That’s a sure sign you’re dealing with a scam.
The MartCoin Token Sale
If you’re gullible enough to believe that a $0.50 token will rise to $290 within 6 to 7 months, then the MartCoin token sale will seem like an amazing investment opportunity. The token sale is available from December 8, 2017 onward.
There will be a total of 5.8 million MART tokens available during the 16 day token sale out of a total supply of 29 million. The tokens are sold in rounds with a fixed number of tokens available each day. Just a few thousand tokens are available during the first few days of the sale, with the vast majority of tokens being sold towards the end of the token sale.
The tokens start at $0.50 for 58,000 MART tokens on the first day, rising to $1.25 by December 22 (no further price information is listed).
Who’s Behind MartCoin?
MartCoin seems like an obvious scam based on everything we can see online. So who’s running the scam?
Like with most scams, the company refuses to disclose any information about its team, its location, or anyone involved with the project. There’s only one contact method listed on the official website, an email address at [email protected]
When someone asks you to send them money online as an “investment”, but refuses to tell you any information about themselves, it means you’re being scammed.
MartCoin is a scam coin that appears to offer no real products or services. The company refuses to disclose team information, and the company’s website doesn’t claim to solve any problems. They vaguely mention “sports betting”, “desktop wallets”, and “online lending”, but none of these products appear to be in development. Despite the total lack of any value, the company claims that its token will be priced at $290 within 7 months – and you can purchase that token for just $0.50 today.
There are way too many red flags on the MartCoin website to list here – from the 67% ROI per day “lending system” to the lack of transparency about any phase of the project. For all of these reasons, MartCoin is one ICO scam you should absolutely avoid.