Regal Coin, found online at Regalcoin.co, is a new cryptocurrency currently going through its ICO. Find out everything you need to know about Regal Coin today in our review.
What Is RegalCoin?
Regal Coin is a cryptocurrency that introduced itself to the internet in August 2017. The token’s ICO began on August 22 and is scheduled to last until September 22.
Regal Coin isn’t connected to any platform, company, product, or service. Instead, it’s strictly a digital currency designed to function as any other currency – you can use it as a store of value or to transfer value, for example.
There’s a total supply of 27 million Regal Coins (REC).
Right off the bat, we see some weird things about Regal Coin – like the fact that the company is specifically advertising it as an investment opportunity. One post on Steemit describes how the coin will reach $10 in September and $50 in December – despite the fact we have limited evidence of it having any value (we can’t find a wallet or other info, for example).
But the real red flag about Regal Coin is that the currency comes attached with a complete multilevel marketing program. You can earn significant income by referring other people to the platform – so that’s one reason why you see people talking positively about the currency online. They want you to purchase Regal Coins through their affiliate link, then earn commissions.
The coin also has no products attached to it – like a wallet client. We don’t even have a whitepaper, nor do we have any information about the coin’s creators or development team.
How Does RegalCoin Work?
Regal Coin uses the Dashcoin X11 algorithm (the same algorithm used by DASH).
The currency also has some type of lending mechanism mentioned on the official website.
Ultimately, most of the cryptocurrency’s products – like wallet clients, an exchange, and other things you’d like to see with a functioning cryptocurrency – are listed as “coming soon”.
The only thing we really know about Regal Coin is the company’s affiliate income program, which we’ll talk about below.
The RegalCoin Multilevel Marketing Program
Regal Coin has a three tier marketing program. If you refer someone to buy Regal Coins, and then they refer someone, and that person refers someone then you’ll earn money from all three levels:
- Level 1: 7% earnings
- Level 2: 2% earnings
- Level 3: 1% earnings
There’s also some type of binary earnings system, where you earn commissions from both sides of your pyramid. You can earn network bonuses of up to $21,000 USD weekly. The Regal Coin website mentions the possibility of earning up to $100,000 from your “Sales Right” and “Sales Left” lines.
Who’s Behind RegalCoin?
Regal Coin doesn’t list its address, nor does it list any information about the management team. The website has a “whitepaper”, but it’s a blank page with a handful of FAQs displayed.
The company claims to be based in Hong Kong. You can contact the company by email at [email protected]
Aside from this very basic information, we have no information about who’s behind Regal Coin.
In the cryptocurrency world, when someone doesn’t tell you any information about themselves online, it’s a red flag. Regal Coin appears to have a legitimate website, but there’s no whitepaper, no information about the development team, and no signs indicating that there are any Regal Coin products or services.
In fact, we don’t even have any evidence that Regal Coin is based on the blockchain – for all we know, the currency is just a digital token represented on a centralized web server somewhere.
The major red flag about Regal Coin is that it’s being advertised as an investment opportunity where you can make enormous profits. The coin claims to be rising to $10 in September and then $50 before the end of the year – and you can buy in for less than a dollar today. When a cryptocurrency launches with specific ROIs in mind, that’s not a good thing.
Ultimately, Regal Coin appears to be another low quality coin with no real purpose except to make its creators rich. Until we see a whitepaper, coin-related products, or any reason to assign value to the coin, it appears to be a useless digital currency.