SAFCOIN: Crypto-Revolution for South Africa or New Scam? Without further a due, these are the three binary option success stories flags we found that prove SAFCOIN is nothing but another scam in the industry.
South Africans would be advised to look through these red flags carefully, so they can easily recognize them again in the future. Safest way to trade cryptocurrencies is with IQoption. Use CFDs so you dont have to worry about safety of your wallet. You can profit from falling prices too! A whitepaper is an official and essential document that serves as a detailed report addressing exactly what the project is, how it plans to be implemented and, perhaps the most critical part, what industry problem it solves and how it plans to solve it. Why is the SAFCOIN whitepaper a scam?
Red Flag 2: Vague Business Objective The majority of the whitepaper, as well as their entire site, is filled with bold statements and buzzwords, while completely lacking any substantial explanation of what SAFCOIN will bring to the market and how exactly it will work. It claims to gradually become a widely accepted form of payment but in no way addresses how they plan this to happen. This pattern continues when they refer to current discussions to integrate SAFCOIN as a payment method with a leading e-commerce development company in South Africa, again without giving any reference to the name of the company. In fact, the entire SAFCOIN white paper ad website itself raises more questions than it does answer them, a fact that can only be perceived as a massive red flag.
Even when scrolling through their website, no extra value is given to the project. The entire SAFCOIN project only seems to raise one red flag after the other, appearing entirely in the form of a pitch full of buzzwords and vague descriptions that prove to have no true aim, technical research or proper adoption plan to back them up. South Africans would therefore not be encouraged to invest in such a risky project, but instead choose safer and well-established companies that they can trust. One should always look beyond the marketing talk and impressive buzzwords that new cryptocurrency projects like SAFCOIN often push, but carefully examine what the new token actually offers and what research has been made to back their adoption plan up. Cannabis Trader: New Scam for South African Traders? The Calloway Software: A Legit App or Just Another Scam?