Regalcoin – This is how you recognize a scamcoin! =

Regalcoin has jumped from $10.66 to $42 this month and Youtube is full of videos of people promoting Regalcoin and linking to their own affiliate link. What’s going on?


We’ve scoured the internet to find out more about Regalcoin and here’s the result!

Team

RegalCoin’s management team is untraceable and information about the founder is also nowhere to be found. It says they are based in Hong Kong and you can contact them at [email protected] .
Besides this standard information, we cannot find out who or what started this initiative. Not even on the basis of the domain name registration. The domain was registered in a private manner on July 7, 2017, so it is impossible to check where the registration was made and who performed it.

The website says they use Twitter and Facebook. Looks like they post updates there but don’t engage in conversation with the community.

White paper and idea

What’s the idea?

Regalcoin only has the function of a means of payment. You store your money in a wallet or make a transaction to send value. It is not linked to any platform, product or other service.

Here is their promotional video:

Token characteristics

Regalcoin started its ICO on August 22, 2017 and lasted until September 22, 2017. The starting price per token was $0.85. There are currently 2,810,000 tokens in circulation with 180,000 added every day. Ultimately, 27 million will be released.

 

Can the token be used for something useful?

The tokens can be used for money transactions. Such a transaction can only be done with the smartphone. The transaction costs are virtually non-existent. You can increase the costs to make a transaction faster. Transactions made can be seen but it is not possible to find out who made them. You have the choice to show your name with the transaction or to keep it secret.

How do I get Regalcoin?

You can buy, stake and lend Regalcoin. The coin was for sale during the ICO and today they can be traded via CoinExchange and YoBit. The coins can be staked via the Regalcoin wallet. The return on this is 10%. You can also lend your coins and receive a reward for this. This is possible by logging into their website. The return on lending can be as high as 540% per year. The rewards are paid out in REC tokens.

Hazards

  • The project advertises on their website as well as on Steemit that Regalcoin is a good investment opportunity. It describes that the coin will hit $10 in September and $50 in December. When there is more talk about guaranteed returns and less about the quality of the project, the alarm bells start ringing for us.
     
  • The whitepaper cannot be found and it is not known who the founders of Regalcoin are.
     
  • Regalcoin shows signs of a multi-level marketing program. You can earn good money by bringing new people to the platform. That is one of the reasons that many people talk positively about Regalcoin. They would like others to buy Regalcoins through their affiliate link so that they can earn commissions.
    The committees are structured according to three levels.

     ⦁ Level 1: 7% commission (a friend buys through you)
     ⦁ Level 2: 2% commission (someone buys through your friend)
     ⦁ Level 3: 1% commission (someone buys through your friend’s friend)

    In addition to these commissions, you can receive extra income. You can receive network bonuses of $21,000 per week and this can go up to $100,000.

  • More than 90 percent of the volume is traded on CoinExchange. This is directly 50% of the total trade volume of this exchange. Furthermore, only YoBit has the Regalcoin on their exchange.
     
  • At the moment, many people are getting the message below with their wallet. For that reason, many videos are now appearing online in which people request others to withdraw their money from Regalcoin as soon as possible.

                                                             

 

Conclusion

Regalcoin offers no new features and has some notable dangers that make it good to think twice before investing in it. Multi-level marketing (MLM) programs can make money in the short term, only history tells us that there comes a time when the house of cards collapses and it will never be built again. We keep our money away from RegalCoin and encourage you to do the same.

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