Tegcoin, a digital currency scam is now calling on the unsuspecting public to buy into its fake cryptocurrency through an initial coin offering, ICO that was purportedly launched yesterday.
One of the scam’s affiliates wrote a promotional message about Tegcoin on Radar, an online chat room for technology people in Nigeria. What you are about to read will almost make you believe that it is a legitimate digital currency. With available knowledge and analysts review, Tegcoin is a scam and has no relation with a typical blockchain currency such as Bitcoin.
See below:
The Tegcoin, endorsed by the Japanese and Chinese as the next big thing since the Bitcoin, is ready to launch its Initial Coin Offering (ICO). Slated to begin tomorrow, the Tegcoin website has reportedly registered thousands of hits already, barely 24 hours after announcing its ICO launch.
This is an opportunity to invest in digital money with the potential for exponential growth.
As anyone who follows the world of cryptocurrency knows, this year has seen a myriad of new currencies hit the digital market.
When the Japanese and Chinese started Bitcoin, no one would have thought it would be as valued as it is today, or make as many millionaires as it has in the last few years. Today, every other currency in the world, including the almighty Dollar, is only playing catch-up to the financial might of the Bitcoin, as one Bitcoin is over USD $4,000 at the moment.
This means that a boy who bought only 100 Bitcoins for $1 at 2011 would be 400,000 dollars (or N160,000,000) rich today. From the look of things, we believe that this is the path that the Tegcoin is about to tread.5
Key things to know about the upcoming Tegcoin ICO:
• Early this week, Tegcoin announced the launch of its ICO, which is to kick start from Wednesday, 14 August 2017.
• Tegcoin will have a decentralized exchange on the blockchain.
Why is the Tegcoin different?
• The Tegcoin is free to use. This means that, unlike other digital currencies, it does not charge for inter-user transfer or for bank withdrawals.
• It is fast. You can send Tegcoin to another user in 15 seconds. You can also withdraw from to your local bank in a couple of minutes.
• The Tegcoin is Blockchain powered, which means that it is of the best technology, preventing money loss.
• Unlike some others, Tegcoin can be withdrawn straight into a local bank account in minutes, without any need for a third party.
• Instant and Secure payment: You can send money instantly across the world.
• It is anonymous. You carry out all transaction without revealing your identity.
• The Tegcoin also converts local currency to dollars and pays out in the local currency of the recipient.
• The Tegcoin can be used to transfer money in minutes to any bank account in the world. This can be done through the recipient’s email address, phone number, or Tegcoin portal.
• There are options to access loans from the Tegcoin lenders to start up a business.
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First Buyer Privilege
According to the Tegcoin website, early buyers have bonuses when they buy. A one-time 20% bonus for the first day of the ICO launch, a one-time 10% bonus for the second day of the ICO launch, and a one-time 5% launch on the third day, which happens to be the final day.
And people have already started queuing up.
How do I get in on this huge opportunity?
It’s quite simple. Log on to the TegCoin website at Fastest Growing Digital Currency, start a wallet, and you can start buying in minutes. All you need to have are an Internet-enabled device or phone, and a brain.
What stops the TegCoin company from taking away my money.
According to Forbes, the first thing to look out for when participating in an ICO is an escrow wallet.
An escrow wallet is a safety box on the internet, that works much like a locked safe in your house. Many currencies launching their ICOs today don’t have escrow wallets. But Tegcoin does. And this is why it is a good one to invest in.
What you have just read is as fake as it gets. Tegcoin is not in anyway a genuine digital currency that you should get involved in. You will only lose your money.
A Radar user said he had gone ahead to try it out and this was his negative experience “I purchased some coin to how it works and maybe i will be credited tonight but account yet to be credited (Wow)”.
There is no information on who started the currency. This is the first red flag. The website is also lacking all necessary security tools such as an SSL certificate. This opens its users to risks of identity theft and hacking. However as an update, owners o fthe site have included an SSL certificate to cover up for that flaw. Their identities remained unknown. A serach on the domain registration shows that the site has been set to private.
Tegcoin’s white paper is also empty with no sensible information. In the next few weeks, the plans of Tegcoin’s owners will be unearthed. Many scam digital currencies have surfaced in recent times, making away with millions of dollars.
This might not be an exception. Be careful.
