Perfect Coin is a decentralized digital currency that promises to “make all perfect” in the crypto community. Find out what that means today in our review.
What Is Perfect Coin?
Perfect Coin, found online at PerfectCoin.co, is a cryptocurrency with “an anonymous character”, explains the awkward wording on the official website. When you use the currency, your identity is never disclosed to anyone – including the government.
It’s a peer-to-peer cryptocurrency where transactions “are not centered on one side, but done inter-personal without get intervention of any part [sic].” Whatever that means.
Like other shady cryptocurrencies online, Perfect Coin has a lending program in place that promises to pay big profits to investors with little work required. A whitepaper, conveniently enough, is listed as “coming soon”, and the website lacks any helpful information about the currency or how it works.
The pre-ICO for Perfect Coin began on November 15, with the general ICO is launching on November 25. The lending program will open on November 25 as well, with the wallet and mining operation scheduled to begin in Q2 2018.
Is Perfect Coin a legitimate investment opportunity? Or is this just another Ponzi scheme and lending scam? Let’s take a closer look at how Perfect Coin works.
Perfect Coin Features
Perfect Coin’s website advertises all of the following features:
- Cryptocurrency built on blockchain technology
- Fast transaction times
- Low fees
- Anonymous, peer-to-peer cryptocurrency
- Built on a decentralized, distributed platform
- Offers lending, trading, mining, and staking investment opportunities
- 50% returns per month and higher through a “lending scheme”
The Perfect Coin ICO
The Perfect Coin crowdsale begins with a pre-ICO on November 15, followed by a general crowdsale on November 25.
There’s a maximum supply of 33 million Perfect Coin (PC) tokens. 2 million PC tokens are available during the pre-ICO, with 8 million available during the main ICO. The official website, by the way, spells “supply” like “supplay” – so this is the type of quality you’re dealing with when buying Perfect Coin.
In any case, the token is priced at $0.10 during the beginning of the pre-ICO, with a price of $1.10 by the end of the ICO.
It’s unclear where the remaining 23 million tokens are going. However, we assume this is reserved for the development team. If that’s the case, that’s an unusually large share. Typically, we see shares like this in pump and sump scams.
Typically, legitimate ICOs don’t provide a price target for their currency. They don’t claim that the value of the token will rise dramatically in the future – out of fear of misleading investors. Perfect Coin, however, has taken a different approach. The Perfect Coin website claims that investors can expect each PC token to be worth $5 by January 2018, $50 by Q2 2018, and $100 by Q3 2018. It’s not clear where the company got these oddly specific valuations from, but they’re clearly advertised on the site.
How Does Perfect Coin’s Lending Program Work?
The cryptocurrency community is notorious for its lending schemes, including scams like Bitconnect, Hextra, or Regalcoin that promise returns of 48% per month, every month, guaranteed. All you need to do is let the company lock your money up for a fixed period of time, and they’ll pay you ridiculously high returns.
Obviously, this is how all Ponzi schemes work – but investors still fall for these scams every day.
Perfect Coin has a similar investing scheme in place. In the case of Perfect Coin, the company promises to pay you 50% returns per month, every month, in addition to daily interest payments of 0.30%. In exchange for all of this money, you only have to lock up your capital for a period of 90 to 210 days. There’s no risk involved with the process, and you don’t have to do anything to earn these enormous returns.
Ultimately, if someone promises to pay you returns anywhere close to 1% per day, it’s a 100% sign you’re being scammed or participating in a Ponzi scheme. Perfect Coin promises returns significantly higher than that amount. This tells us that Perfect Coin is likely a scam.
To participate in the lending scheme, you’ll need to deposit anywhere from $10 to $10,000 into the platform. We have no proof that anyone has been able to withdraw money from the platform, or that anyone has been paid anywhere close to the 50% per month returns advertised on the website.
Perfect Coin Pyramid Scheme And Referral System
Perfect Coin has a referral system – also known as a pyramid scheme – in place, where you can earn 10% commission on anyone you refer to the platform.
That referral system extends down 10 levels. You also get a 5% welcome bonus from all referrals, dropping to 0.10% bonuses on level 10 referrals.
Who’s Behind Perfect Coin?
Perfect Coin seems like a pretty obvious scam. So who’s running the website? One of the easiest ways to spot a scam is when the company refuses to disclose their team, their location, or any other personal information. That’s the case with Perfect Coin.
Perfect Coin’s website does have an “About Us” page. However, that page features no information about the team or where the company is located.
We also have no contact information for Perfect Coin aside from a single email address: [email protected]
Perfect Coin Conclusion
When someone asks you to send them money online, promises returns of 50% per month with no risk, and refuses to disclose their information, it’s a sure sign you’re being scammed. Perfect Coin has all of the classic signs of a scam. There are too many red flags to list here – from the 50% ROIs per month to the lack of transparency regarding any level of the company.
To learn more about Perfect Coin, visit the company online today at PerfectCoin.co