DOOMED TO FAIL: FineCoin review

FineCoin official websiteIn this review we have a look at another cryptocurrency scam called FineCoin.

FineCoin is a new cryptocurrency that allegedly will change the financial system. The platform will have four main feature: lending, staking, exchange and asset management. Staking and lending should earn you a passive income, meanwhile you can also speculate on the price of Finecoin (FINE) to go up.

How much you will earn? In the lending program the current average is 2,14% per day, which means 64% per month. And you can add to this more than 10% from your referrals’ deposits.

So, is this a legit investment opportunity?

FineCoin scam

In reality FineCoin is just a copy&paste crypto scam. The biggest one of this kind was Bitconnect that monumentally collapsed this year in January. FineCoin is exactly the same, it is based on the same principles, it has the same features and it is going to end the same tragic way.

Illegal program

Let’s start with some basics. FineCoin is an investment program, because it asks you for money and promises returns. Investments are a heavily regulated field in most countries. FineCoin claims to be based in Europe, but contact information is missing.

Why do people who run FineCoin hide their identities? Because it is a scam. And because FineCoin is not licensed in any country, it clearly is an illegal investment program.

Do you want to send your money to an illegal program run by anonymous people and use irreversible cryptocurrency transactions for that?

Unreal numbers

The investment planWhile it is perfectly possible to make money with cryptocurrencies, more than 60% every month is impossible.

Scammers will say that a lot of cryptos did better in the past, but with hindsight it is easy to be a “profitable” trader. The past month cryptos are stalling or going down and the miraculous traders are nowhere. Nobody can predict the future.

How it really works

The trading platformWe examined the FineCoin platform and we found it very similar to the Bitstrades platform. All these crypto lending scam are the same, just a few details change.

It works like this: In order to participate in the FineCoin program, you will have to buy their cryptocurrency called FINE. And you will have to pay for it with a legit cryptocurrency like Bitcoin or Ethereum. Then for some time you will get your profits paid back in FINE.

But because FineCoin is a Ponzi scheme, sooner or later it will run out of money, because there won’t be enough new deposits to cover withdrawals. People wanting to cash out FINE won’t find new depositors willing to buy. At this moment the scam is going to collapse.

But scammers who run the scheme will see it first, so not only they will take all the regular cryptos, they will also dump the FINE coin and make it crash. This way they will scam you twice and you will be left with a worthless cryptocurrency. That’s what happened with Bitconnect and is happening with Davor Coin.

Conclusion

FineCoin is just a crypto lending scam that is going to collapse, stay away from it!

If you are interested in making money with cryptocurrencies, start on a free demo account with a regulated broker to see if you are able to trade profitably.

You can start investing real money only when you know all the risks and when you are sure about what you are doing.

Summary
Review Date
Reviewed Item
FineCoin
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2 thoughts on “DOOMED TO FAIL: FineCoin review

  1. The company attained voting from public and 90% approved and elected to remove the “lending program and referral bonus” and is strictly geared towards “hosted staking” with short timelines and payments of bearing interest in either BTC, ETH, Tether, or Ripple which differs from all other related programs and also removes legal SEC issues in the market. Albeit, they are anonymous they do have a bio with first names and history and have completed milestones on road map ahead of schedule . All ICO have been bought out within minutes and they will only allow 1K unloads per 24 hour day to preclude whale dumping and thus facilitate stability to FINE coin once launched on external exchanges. They also have excellent communication on multiple social websites which is not the norm for this sector. There is also a live interview with the director of marketing on you tube that takes Q&A; a contact of mine whom specializes in speech deception stated he could not indicate false like inflection/deflection in voice patterns which was also assuring albeit he could not evaluate body motion coupled with speech pattern.

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