I am starting this post because I did not see any steemit articles that thoroughly explored or explained the legitimacy of the QYK token. I don't want to claim to have the answer to the title's question at this point but I did invest a bit in QYK and want to allow others to be forewarned about the clues I have picked up on along the way. I am also starting this post because I am new to the steemit community and want to start things out by contributing some content for others :).
So normally I would not even be interested in investing in an ICO as I am skeptical of the quality of such tokens. However, I have been exploring the world of crypto currencies over the past four years and decided to jump into an ICO as a learning experience. Well... beer is also a hobby of mine so that inspired me to take a leap of faith as well.
Anyway, if you have not invested in alt coins before there are usually a number of tools, intermediaries and/or exchanges that you have to go through in order to obtain the more uncommon, illiquid tokens. For example I first bought ethereum (ETH) through Gdax, which is similar to buying a stock on a stock exchange except much faster and less centralized. Then I sent that ETH to a metamask account, which is like putting my tokens into an online wallet. I set up this wallet in order to gain access to ERC-20 tokens - ERC-20 tokens seem to be necessary for many alt coins - because QYK happens to be an ERC-20 token. I then followed the instructions on the qykbar.io page which instructed me to send any amount of ETH to their address and informed me of what the exchange rate would be when getting QYK tokens in return. Sooo that went through the whole "mining process" and then all transactions are picked up by etherscan (think third party receipt that get printed online and become public record).
So now I have a receipt of my transaction right? The QYK site then says email us "the receipt" and we will send the QYK tokens to your address in a day or two... well I did that.... and I am not sure if my email has fallen into a black hole or what. As I write this I am also attempting to follow up with the group but it has been quite some time since I was supposed to receive my tokens and I don't see a thing. I do have to say it would be interesting to think that a team would not hold up to their end of a deal when there is a public blockchain record for all to see. I suppose I will find out eventually? Considering that Coinschedule.com rated QYK with a trust score of "E" and foundico gave it a 5.4 my hopes are not high. Idk but if you have experimented with QYK, an ICO or any tool I listed above, I would love to hear your stories or comments as I figure my situation out. Thanks everyone!
ICOs usually suck. Do due dilligence before buying anything from anyone.
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