101 Series: Is FCOIN a Scam?
It’s been a few months now since the Bitconnect Ponzi scheme crumbled (Thats a SCAM!). But contrary to what Carlos Matos would have you believe the world is still the same, and as long as there is money to be made there will continue to be cheats and swindlers looking to take advantage of unsuspecting investors. Is FCOIN a scam? Almost certainly, and we therefore created this 101 breakdown both as a PSA for the crypto community and as an exercise in spotting the red flags which help us identify this project for what it is – fraud. There is no doubt FCOIN gets an F as an investment, but by learning the tells of those trying to swindle us, you can still get an A as an investor.
LINKS TO TOPICS FROM THE SHOW
FCOIN Wallets & Balances
Article: Ponzi Scheme (Investopedia)
Is this the same Zhang Jian? Article from 2017
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These links are all referral links for us, but we use every one of these exchanges and wallets.
Ledger Nano S - Get the goods here This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.
Robin Hood is getting in the crypto game! You get a random stock valued between $2 and $200 and so do we, this is super exciting. Robin Hood has been one of the best experiences we’ve had with an “old school” exchange, and we’re super excited that they’re going to be bringing their talents to crypto.
CASH APP HAS BITCOIN! If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.
Binance Exchange Binance is the primary location for many of the coins that are not available on CoinBase. They have the best user experience, don't use the USDT as a primary trading pair, and have reasonable customer service. Give them a look.
Theme Music - Neledrax by Earradiate (2017)