I recently discovered a brand new cryptocurrency, PlexCoin while browsing Facebook.
What is PlexCoin?
PlexCoin is the next decentralized worldwide cryptocurrency based on the Ethereum structure. Its mission is to broaden the possibilities of uses and to increase the number of users by simplifying the process of managing cryptocurrency to the maximum.
I visited their website and it was a nice looking website. When browsing it, they displayed predicted results for the increase of the value of the coin, my mouth dropped. They had multiple sale stages which started at stage 1, one PlexCoin during this stage was being sold for 0.13 cents, stage two was 0.28 cents, then 0.53 cents and the final stage was 0.88 cents. Below the stages, they had a chart displaying the potential price increase, $1.76 in just one month. I continued to browse the website looking for the white paper, nothing. I then searched for information about the developers, again, nothing. It was starting to seem a bit fishy. The only information they had on their website was about the coin, nothing else. I then began to research it even more on Google. A majority of people believed that it was a scam for multiple reasons.
Reasons it's a scam
- No information about the developers.
- The white paper was not available yet.
- The company "PlexCorp" which they claim to have launched back in Aug 2016 and is behind this project, registered their domain 1 month ago.
- They are 'promising' insanely outlandish returns.
- The project is not on GitHub
Why it's too good to be true
- They are 'promising' insanely outlandish returns.
- It's so easy to purchase them for so cheap.
Conclusion
If you are considering making the risk and investing, only invest what you can afford to lose because either way, someone will be making money. They offer support on the bottom right of their website if you have any questions regarding their legitimacy. I contacted them via that and got a response the next day. I hope this has helped you in deciding whether or not to invest.
I would love to hear your feedback on the topic.