Shareel Coin – Decentralized Social Media Advertising Blockchain?
Shareel Coin, found online at Shareel.com, claims to be the first ever decentralized advertising marketplace. Find out how it works today in our review.
What Is Shareel Coin?
Shareel Coin is a decentralized marketplace where you can meet advertisers from around the world, then earn money promoting their content on your social media accounts. It’s a decentralized advertising market where ordinary people, influencers, advertisers, and content producers can interact with one another.
The first phase of the Shareel coin ICO took place in late November. The ICO continues until January 2018.
Although Shareel advertises itself as an advertising marketplace, most of the website and whitepaper focuses on a profit-generating lending program. There’s also limited transparency about the platform, the development team, and other features.
Some of the core features of Shareel include all of the following:
Decentralized Advertising Marketplace
Shareel claims to be the world’s first decentralized marketplace built on blockchain technology. Users can promote content from advertisers on their social media feeds, then earn income. Advertisers, meanwhile, can setup advertising campaigns, select targeted niches, choose geographic areas and interests, and more. All payments are made in Shareel coins.
Shareel’s mining system is based on proof of stake (PoS). That means you’ll receive Shareel coin rewards for holding your coins in your desktop wallet. The more coins you stake, the more rewards you’ll receive. Not all users will qualify for mining. In order to qualify as a miner, you’ll need to buy at least 10,000 Shareel coins during the ICO.
Shareel claims to pay users up to 40% profits every month through a lending scheme. You lend money to Shareel miners. Your money is secured because miners aren’t allowed to withdraw funds lent to them – they’re only allowed to stake borrowed Shareel coins to earn more coins.
At the end of the lending period, you don’t just get 100% of your capital back. Instead, you get 100% of your capital back in the form of 50% cash and 50% Shareel coins. If you lend $1,000 worth of Shareel coins at $1 per coin, then you’ll receive $500 cash and $500 worth of Shareel coins at the end of your staking period.
Shareel Coin Lending Program
Obviously, it’s a huge red flag when you see the term “lending program” attached to an unknown startup company. Lending programs have become synonymous with scams in the cryptocurrency industry. Bitconnect, Hextra, Regalcoin, and other notorious schemes were all built on lending programs that promised to pay you 40% returns per month with no work required.
Shareel makes similar promises. The company claims to pay you enormous monthly returns with limited work required. Here’s how the lending program works:
- $100 to $1,000: 40% ROI per month, capital back after 80 days
- $1010 to $5,000: 40% ROI per month, capital back after 75 days
- $5,010 to $10,000: 40% ROI per month + 0.15% ROI per day, capital back after 70 days
- $10,010 to $100,000: 40% ROI per month + 0.20% ROI per day, capital back after 65 days
At the conclusion of each period, you don’t get your capital back. You only get 50% of your capital returned to you. The remaining 50% is given in Shareel coins (a token that currently has no value). It’s unclear if you can ever get the second 50% of your share back, or if that money is just given to the company.
The Shareel Coin ICO
Shareel’s ICO began with a pre-ICO on November 20, 2017. The ICO continues until January 30, 2018. Tokens will be sold at a rate of $0.50 during the pre-ICO, rising to $1.50 by the end of the ICO.
There’s a total supply of 45 million Shareel coins, with 30% of tokens distributed during the token sale, 50% reserved for miners, 10% for an affiliate program, and 10% for the founders and development team.
Shareel Coin Conclusion
Shareel is a unique blockchain project. The company advertises itself as “the first ever decentralized advertising marketplace” – despite the fact that there are a number of similar marketplaces available online. The Shareel whitepaper, meanwhile, makes no mention of this advertising marketplace. Instead, most of the whitepaper focuses on the Shareel lending scheme, mining system, and staking program. It focuses on how much money you can make (40% ROI per month) by investing in the platform today.
It’s unclear why a decentralized advertising marketplace would have a lending scheme. However, it’s a big red flag about the legitimacy of Shareel.
The lending scheme is bizarre: if you give $1,000 to the platform, then you’ll only ever get 50% of your investment returned to you. The remaining 50% is returned in Shareel coins – which currently have no value or use.
Ultimately, there are a number of red flags surrounding the Shareel project – from the lack of team information and transparency to the unusual lending program. You can decide for yourself if it’s a legitimate opportunity by visiting online today at Shareel.com.