Runecoin, found online at RuneCoin.co, is a digital currency that’s primarily designed to serve as a lending platform. Find out how it works today in our review.
What is RuneCoin RUNE?
RuneCoin describes itself as “an open source, peer-to-peer, community driven decentralized cryptocurrency that allows people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment.”
How does an unknown, new cryptocurrency promise to give you a “substantial” ROI? The company is launching a lending scheme that appears to be similar to BitConnect and other Ponzi schemes: you earn high guaranteed income every day in exchange for locking your money with the company.
The Runecoin website also mentions other red flags – including the presence of a mysterious “trading algorithm” that generates profitable trades all day, every day.
Obviously, when someone starts talking about guaranteed returns, easy profits, and a lending scheme, these are huge red flags that you’re dealing with a scam. However, let’s take a closer look at how Runecoin claims to work.
How Does Runecoin Work?
The primary purpose of Runecoin (RUNE) appears to be generating income for investors. The company promises to pay investors in five different ways:
“You will receive daily profit based on your investment option with Runecoin regardless of the BTC or alt’s price direction,” promises the official website. Yes, the company guarantees that you will earn passive income every day – so there’s no risk whatsoever of losing your money.
Runecoin will launch an online exchange in the future where users can use RUNE to buy and sell goods.
Runecoin has a proof of work mining algorithm along with its proof of stake algorithm. The company doesn’t go into detail about how its PoW algorithm works, but miners can early daily profits through mining the Runecoin blockchain.
Runecoin will pay you “bonus returns every 24h” in return for staking your coins. You “stake” your coins by leaving them in your Runecoin staking wallet.
Runecoin lets you lend capital to its “algo-trading stack” to earn daily interest. You get paid interest every day guaranteed, although interest rates appear to fluctuate. Your returns are never negative – so you will make money every day with no risk whatsoever.
Ultimately, when someone is advertising an investment opportunity online that pays you fixed returns all day, every day, with no risk whatsoever, it means you’re dealing with a scam.
- Total coin supply of 28 million (19.04 million available supply)
- 6.2 million coins distributed during the ICO
- 1.96 million RUNE reserve fund
- PoW and PoS algorithm (Scrypt)
- Coin base maturity of 50 blocks
- Total of 262800 PoW blocks
- 10 RUNE PoW block reward
- 2 minute block spacing
- Staking reward of 10% to 12% per month (0.33% to 0.40% per day)
- Minimum staking age of 15 days, maximum staking age of 90 days
- Runecoin may launch a debit card in the future
- Multi-level referral program, including 3 levels of referral bonuses during the ICO and for the lending program
The RuneCoin RUNE ICO
Runecoin is selling RUNE tokens for $0.50 to $1.20 during the ICO.
Paying $0.50 for a worthless digital token is never a smart move. However, the company claims that its token is expected to be priced at $70+ by June 2018. Yes, the company is advertising returns of 700 to 1400% in 6 months.
We’re not sure about the dates for the ICO. However, as of February 2018, the ICO appears to be ongoing.
Runecoin Investment Packages
Runecoin advertises all of the following investment packages. As mentioned above, the company guarantees profits every day – there’s no risk of losing your money, and you’ll always make a positive ROI. The company wants to convince you that there’s no risk whatsoever – you’ll be rich in no time! Advertised investment packages include:
- $100 to $1000: 43% ROI per month + 0.05% ROI per day, money locked for 249 days
- $1001 to $5000: 43% ROI per month + 0.10% ROI per day, money locked for 199 days
- $5001 to $10,000: 43% ROI per month + 0.20% ROI per day, money locked for 159 days
- $10,001 to $100,000: 43% ROI per month + 0.25% ROI per day, money locked for 99 days
Based on these investment packages, you can become a millionaire in less than a year by giving the company $100,000 today.
You can withdraw your money from all of these investment packages early – although you’ll pay a massive 25% fee.
Who’s Behind RuneCoin RUNE?
Ponzi schemes like Bitconnect were notorious for refusing to disclose the identities of anyone involved in the operation. Runecoin has taken a similar approach. The whitepaper and website do not disclose any team information. We don’t know anything about the company or who’s running it.
All we really know is that Runecoin appeared online in January 2018.
In almost all cases, if someone is selling a guaranteed, high ROI investment opportunity to you online, but refuses to disclose their identity, it means you’re being scammed.
RuneCoin RUNE ICO Conclusion
Runecoin is yet another cryptocurrency scam based on a lending scheme. The company promises absurd returns. The team makes ridiculous claims about the value of its coin (they claim it will be worth $70 by June 2018, despite the fact that they don’t plan to sell any products or services). The team refuses to disclose any information about themselves online.
For all of these reasons, Runecoin is one “investment opportunity” that is unlikely to make you rich quick – despite what the creators of the scam want you to believe.