Libra Coin Review – A Bogus ICO?
OFFICIAL SCAM URL: libracoin.io
The Libra Coin ICO claims to be a highly profitable cryptocurrency that is just emerging, one with a huge profit margin for investors. However, we have done a lot of research into this cryptocurrency initial coin offering. The signs are not good and it appears to be just another crypto scam that is not worth the trouble. This is our Libra Coin review and we are here to shut this mess down once and for all.
Libra Coin ICO – Ownership & Company Status
The first thing that we analyzed for this Libra Coin review is the company itself, specifically its legal standing and ownership. So, first of all, there is not a single mention of who could possibly be in charge here, not one. We are not provided with any facts in terms of company ownership or leadership. This is a really big problem.
These guys expect us to invest thousands of dollars into this Libra Coin ICO, yet they won’t even tell us who they are. Unless there is something shady and illegal going on here, there is just no other good reason why the folks in charge would keep their identities a secret. It’s a really bad sign and it makes us very suspicious of this crypto ICO.
Next, for these guys to take investments from people, and do all the stuff which they claim to do, this company needs to be real, registered, and licensed. However, we could not find any evidence that this Libra Coin ICO is registered, not as an incorporated company or otherwise. For all intents and purposes, this initial coin offering consists of a website and a bank account for you to shovel money into.
Folks, this ICO has absolutely no legal standing. It is not legit at all. The company is completely bogus and unregistered. This initial coin offering also has no official legal standing, and therefore is not licensed. This means that it has no authority or legal right to accept investments from people. It appears to be one massive cryptocurrency scam.
Libra Coin Initial Coin Offering – A Shady Whitepaper
When it comes to initial coin offerings, you always want to look at the whitepaper for it. This is more or less the business plan. Well, the white paper for the Libra Coin ICO is a total joke. All it boils down to is that this is a decentralized cryptocurrency that can be bought, traded, and lent.
However, when it comes to any real substance, there simply is none. There is no real business model here, no explanation of what is behind this ICO, and just nothing. The whole thing is a total joke and it really does not make any sense whatsoever. Even the Libra Coin roadmap is a total nonsensical mess.
How Does The Libra Coin Program Generate Profits?
Well, the story here is that you have to use Bitcoin in order to purchase Libra Coins. Once purchased, you can trade the coins, stake them, lend them, and make money by investing through them. Yes, this all sounds legit enough, as most initial coin offerings for new cryptocurrencies offer these features. However, there is a big issue here, which is that there is no evidence of any of these claims being true. We are not shown a single trade or lending exercise.
The bottom line is that besides the bold claims made on the website, there is no proof that you can actually make money here. What we do know is that many people have complained about this Libra Coin ICO being a total rip off. At the end of the day, when you go to convert your Libra Coins into BTC or cash, it does not work. In other words, you are literally buying nothing when you invest here. More or less, you are just sending these anonymous crooks your cash, and they do whatever they want with it.
Moreover, we are told that we can make up to 203.5% in ROI in a little over 3 months through the lending program. Does this not seem way too high to be realistic? A 200% increase in 110 days just is not possible no matter how you look at it. Moreover, at this point, Libra Coin appears to have absolutely no value, and it does not look like it will increase anytime soon. Guys, from what we can tell, this is not a real cryptocurrency at all. It’s just a Ponzi scheme where you invest money and lose it all.
Libra Coin ICO – A Pyramid & Ponzi Scheme
The other thing that needs to be mentioned about this Libra Coin ICO is the fact that it is a Ponzi scheme. Old investors may have gotten some money back here, but only a handful. It is obvious that the anonymous criminals in charge are paying old investors small sums to keep them happy, while keeping most of the money for themselves. Newer investors probably won’t ever see a single cent in ROI. This is how a Ponzi scheme works. The owners are just keeping the majority of the money for themselves.
At the same time, we also know that this Libra Coin HYIP is a massive pyramid scheme. When it comes down to it, you could make something like 40% from other people. There is a referral system in place, a 4 tier referral system, so technically you should be able to make a whole lot of cash simply due to other people investing through you. While this is not technically illegal, the Libra Coin ICO never actually pays out these referral commissions as promised, which is definitely not legal. You won’t ever see any kind of profits here.
Libra Coin Scam Review – Final Thoughts
Guys, there is just no point in investing any amount of money into this Libra Coin ICO. It is a total rip off, a massive Ponzi scheme, and a highly deceptive pyramid scheme. This is a total rip off and if you invest money here, you will lose every last cent of it.
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