MyDailyCashMachine is a get rich quick scheme that promises to pay you enormous amounts of money with no work or risk required. Here’s our review.
What is the MDCM Coin?
MyDailyCashMachine Coin, or MDCM Coin, is a digital token that will be used in an upcoming cryptocurrency exchange and advertising platform based on blockchain technology. The company also operates cryptocurrency mining operations worldwide. In fact, the company claims to generate $3500 per day from its mining operations.
The website and whitepaper make MDCM Coin seem like a complete scam. The company’s marketing materials are filled with awful wording and spelling mistakes. The very first sentence on the official website, for example, describes the main benefit of MDCM Coin as: “Our token will give us autonomy in not being regulated by any processor for our advertising portals.”
What does that mean? I have no idea. The whitepaper and website are virtually impossible to decipher. Based on everything we can see online, MDCM Coin is a blatant scam. But let’s take a closer look at how it claims to work.
How Does MDCM Coin Work?
MDCM aims to revolutionize the online advertising industry using MDCM Coin. The coin will have minimal transaction fees and fast payments times. The coin will be used to pay users – the people who view advertisements – and publishers – the people who host advertisements.
The company describes their coin as “a unit of payment and reward for placing and viewing adverts.”
There are two layers to the MDCM Coin platform, including:
- The ad exchange (built on Ethereum smart contracts)
- Decentralized apps for the publisher portal, advertiser portal, and the MDCM profile for end users
The platform doesn’t seem to have any unique benefits over other advertising platforms or digital currencies. The website mentions benefits like “24×7 availability”, for example, and “guaranteed privacy”.
Somehow, this system leads to a platform that will disrupt today’s advertising landscape. MDCM Coin’s whitepaper mentions Google as one of the company’s main competitors. These companies charge fees of 30% and higher. MDCM Coin wants to make these ad exchanges “obsolete by making an open platform that will enable advertisers and publishers to find themselves and trade directly using blockchain.”
The MDCM Coin ICO
MDCM Coin doesn’t have any products or services in place. There’s no platform available to users, and there’s no evidence that any platform is in development.
Despite this complete lack of information and transparency, MDCM Coin is seeking to raise $100 million (!) through an ICO. The company is selling a maximum of 100 million tokens at a fixed price of $1 per coin. The whitepaper claims investors can expect the value of coins to rise after the ICO.
The ICO is scheduled for February 1 to March 15. You’re required to purchase a minimum of 25 tokens throughout the ICO.
Who’s Behind MDCM Coin?
MDCM Coin, like many online scams, refuses to disclose any team information or additional data about the platform. The whitepaper and website don’t mention the names of a single person involved with the project. We don’t know where the company is based, nor do we know why the team is experienced to handle your investment.
Ultimately, when someone is advertising an amazing investment opportunity to you, but refuses to disclose their personal info, it’s a sign you’re probably being scammed.
MDCM Coin ICO Conclusion
My Daily Cash Machine, or MDCM, appears to be a scam. The company has no transparency about itself or its operations. They don’t have any product in development. There are no concrete goals or objectives listed in the whitepaper. There’s no reason to believe anything the company says.
Despite the total lack of information, MDCM Coin is seeking to raise $100 million through an ICO. The company has no product in place and no value behind its token – but still expects investors to pay $1 per MDCM Coin.
Ultimately, based on everything we can find online, MDCM Coin is a complete scam.