Unix Coin, found online at UnixCoin.com, is a crypto investment scheme designed to help you get rich quick with “ingenious investment programs”. Find out if it’s a scam or a legit opportunity today.
What is Unix Coin?
Unix Coin describes itself as a coin that “is similar to bitcoin, except the fact that there are still plenty of opportunities fort he investors to acquire Unix Coin.” The coin is a digital currency that comes bundled with various investment schemes. The goal of these investment schemes is to “make your money grow faster”.
There’s a total supply of 19,000,000 UNX tokens. The token reportedly began development in October 2017, with the website appearing online this past November. An ICO is underway until the end of 2017. Is Unix Coin a legitimate investment opportunity? Or is this a complete scam? Let’s take a closer look to see how Unix Coin works.
The Unix Coin ICO
Unix Coin’s website doesn’t spend much time describing products or services created by the development team. The website doesn’t explain which problems that team wants to solve, or why their cryptocurrency will change the world. Instead, most of the website focuses on the Unix Coin ICO – including the enormous investment opportunity of that ICO.
The company’s ICO is scheduled for November 26 to December 25, 2017. During the ICO, tokens are priced at $0.90 to $1.40, rising towards the end of the ICO. There’s also a multilevel referral system that pays 7% on the first level, 2% on the second level, and 1% on the third level. You can make bonus money by referring other people to the ICO.
How Does Unix Coin Work?
So you’ve bought Unix Coins during the ICO. What can you do with those coins?
The only real product or service listed on the Unix Coin website is some lending scheme. The company describes it as an “innovative hybrid lending program” for investors seeking guaranteed, fixed profits over time.
The lending scheme will pay you absurdly high guaranteed ROIs. The company will pay you 35% interest to borrow your money for 45 days, for example. They also claim to pay you an additional interest rate on top of that. Overall, Unix Coin claims investors can expect to earn 48% returns per month, every month.
Obviously, when someone tells you that they’ll pay ROIs this high, it’s a 100% sign you’re being scammed. There are no legitimate investments that pay a guaranteed return of 48% per month. It just doesn’t exist in the legal world of investing – not even in the crypto industry.
In any case, here’s how Unix Coin’s “investment plans” break down:
- 7 Days: 3% return
- 15 Days: 9% return
- 30 Days: 20% return
- 45 Days: 35% return
You receive payment at the end of each contract (you receive your principle plus the interest). All contracts come with a minimum investment of $100. In addition to the ROIs above, Unix Coin mentions some “daily interest rate” where you can earn up to 48% over the course of your loan. That 48% appears to be on top of the ROIs listed above – so you could potentially earn much more than what’s listed above.
The Unix Coin ICO had a three level referral system. The lending scheme, however, has a 7 level referral system where you get paid anywhere from 8% to 0.2% down 7 levels. The more people you refer to the Unix Coin investment scam, the more money you’ll make.
The Unix Coin whitepaper vaguely mentions some mining and staking systems, but none of it is explained very well. For all intents and purposes, Unix Coin seems to be a straight-up pyramid scheme or Ponzi scheme.
Who’s Behind Unix Coin?
One of the easiest ways to spot a cryptocurrency lending scheme is when the company refuses to disclose team information or a location. Such is the case with Unix Coin. Neither the website nor the whitepaper have any information about the company or who’s running the operation.
The Unix Coin Github page has limited information about the project, with just one developer (“unixcoin-dev”) listed. The company’s Twitter page lists its location as Geneva, Switzerland, although this seems unlikely.
When someone is trying to sell you an investment opportunity online, but refuses to tell you anything about their contact information or location, then you’re almost certainly being scammed.
Unix Coin Conclusion
Unix Coin gives us no reason to believe it’s a legitimate investment opportunity. It appears to be a pyramid scheme or Ponzi scheme. Everything on the website suggests that it’s an investment scam where the returns of older investors are paid by the deposits of new members. There are no products or services in place, and Unix Coin doesn’t claim to solve any problem whatsoever.
There are way too many red flags about Unix Coin. The company refuses to disclose who’s running the company, or where the team is based. They also frequently talk about how much money you’re going to make – but there’s no proof that anyone has withdrawn money from Unix Coin.
For all of these reasons, Unix Coin appears to be yet another crypto investment scheme you should absolutely avoid.