Today we are going to review a new cryptocurrency which we found online. Our subject is Qatar Coin.
What Is QatarCoin?
Qatar Coin is a new cryptocurrency which has appeared on the internet at the end of 2017. It is a proof-of-stake cryptocurrency which is community driven and decentralized. By using Qatar Coin, you will be able to trade, stake and lend. This is a multi-usage cryptocurrency with the potential of making you earn more passively (staking) or to lend money to get a good return on investment.
There is not much information about the people who created Qatar Coin on the company’s site. In fact, the White Paper of the company is actually very small (it only has 11 pages) and it does not say much more than “Prospero Coin is the brainchild of… investors from Singapore”. It only vaguely states who is behind the lending platform (Prospero Coin).
The whole site and the White Paper are also full of typos and grammar mistakes, so you can clearly see that the company did not invest very much in this area. Qatar Coin is clearly a company that does not seem very original or professional at all.
How QatarCoin Multi-Level Marketing Crypto Lending Deal Works
The Qatar Coin uses the X11 blockchain database algorithm and it can be used for trading (you buy it cheaper during the sale and you will be able to sell it for more money later), staking (holding the cryptocurrency for dividends) or lending the money on the Prospero Coin platform. All the transactions made with Qatar Coin are stored on the blockchain, but they are anonymous.
This cryptocurrency does not have very high transaction fees (unlike banks) and administrative barriers, so the company states that it could be a good investment to save your time and money and make your transactions more secure and private while getting more money because Qatar Coin will never suffer from inflation.
Qatar Coin is both proof of work and proof of stake, which means you can also mine it if you want. The current supply of tokens are 6,500,000 QTC tokens and the maximum supply is 27,000,000 QTC tokens after all the tokens have been mined.
If you want to lend money and receive a interest for doing so, you can use the lending platform of the company. The returns are as follow:
- $50-1000 USD: 1.82% daily interest and capital back after 180 days;
- $1010-5000 USD: 1.95% daily interest and capital back after 120 days;
- $5010-10,000 USD: 2.05% daily interest and capital back after 90 days;
- $10,000+ USD: 2.15% daily interest and capital back after 90 days.
You will also be able to use the referral system and earn 8% bonus commission for every person that you find to lend money to the company.
QatarCoin QTC ICO Details
To invest in Qatar Coin, you will have to buy its tokens during the Initial Coin Offering (ICO). The first phase of the ICO will begin on February 23 and it will last about a month. The price will be $30 USD per QTC token and there will be no discounts.
Is the Qatar Coin the best investment that you can make right now? Hardly. This cryptocurrency is very uninspired, unoriginal and it does not look like it has many chances of succeeding. Unfortunately, some cryptocurrencies are doomed from the start for the lack of effort that is put into their creation. Qatar Coin is definitely one of these cases.
There is absolutely nothing unique or original about this currency and add to that the fact that you have almost no information about this coin and a short white paper, which are both huge red flags. We are not sure that Qatar Coin is a scam, but it could as well be. Because of this, it might be a good idea to look for a better option for you.
We do not vouch for the quality nor the safety of investing in this cryptocurrency. You can do that if you want, but it would hardly be a great idea. Remember that there are many other interesting choices that you might take instead of this one.