Alfa Coin Scam: The Truth Revealed!

Alfa Coin Scam: The Truth Revealed!

This is the era of cryptocurrencies wherein the world finance systems slowly and somewhat reluctantly moves towards digital currencies. New digital currencies are coming out every year and not every cryptocurrency is good for investment since many are often scams. Hence, we will explore one of the new offerings this year, which is Alfa Coin, to find out what it is and more importantly, answer the question “Is Alfa Coin scam or not?”

What Is Alfa Coin and How Does It Work?

Alfa Coin, Bank of Trust is a cryptocurrency started by Group of Alfa Companies. The idea of Bank Alfa is to provide the solution for future payment systems. It will be like a regular bank but with digital currency as well as traditional currency.

The ICO of Alfa Coin started on May 19, 2018, and was carried out in three phases over the summer. It is a cryptocurrency blockchain bank designed to provide problem-less payments in the near future. This system also relies on crowdfunding, and the hard cap of Alfa is 5,000,000 USD.

The coins will be released on Ethereum platform, and it will be compatible with third-party systems and wallets. The rate of Alfa during ICO will be $0.05, and the accepted currencies for investing in Alfa are BTC, ETH, and LTC. The total number of coins for sale is 100,000,000 while the minimum transaction cap is 1000 Alfa. The coins will be available for withdrawal on most exchange platforms right after the ICO.

There are several lucrative bonuses offers as well during each ICO phase starting at 50% bonus on investment of $200 or less. The bonus for referral at the first level is 50%, and the launch rate is estimated to be $1.

By the end of 2018, they project that FASTPAY app will be launched, and the infrastructure of the app will be finalized soon. Following the idea of encryption and security, the app will use fingerprints to protect data and transactions.

The Alfa Coin System is supposed to turn into a banking system within one to two years of ICO. The idea as illustrated in the Alfa Coin whitepaper is to establish a banking system that removes the barriers to payments and transactions as currently faced by digital currencies. It will be integrated with the SWIFT system in early 2019, and for Alfa token holders, full services will be in effect by the end of 2019.

Who Is Alfa Coin For?

Alfa Coin is for anyone who is familiar with cryptocurrencies and already owns some of the popular ones like Bitcoin or Ethers. These are the digital currencies that can be used to purchase tokens in the initial phase of this new digital currency. The minimum investment is 1000 Alfa which at the initial rate of $0.05 comes at $50, which is not a very big investment.

Nevertheless, like most new cryptocurrencies, investing in such a venture is a high risk. That is why it is ideal to invest small and take it from there. There is not much information about this coin elsewhere on the internet nor is it being discussed on the cryptocurrency forums which raise the question “Is Alfa Coin scam?”

On the surface, it seems like a good opportunity for small investment for those who are tired of traditional banking systems. The idea is promising, but it still is in a very early stage to give any indication of how successful it can be in reality. Hence, at this point, it is safe to say that Alfa Coin is for someone who is willing to take the risk.

Alfa Coin Tools and Training

All the necessary information about Alfa Coin and the Alfa Bank is available on the website. For those who want to purchase and participate in the ICO, there are tutorials on the dashboard. You just need to create an account in order to find the tools and tutorials to understand further how the system works.

The project is quite nascent as it has just completed its ICO phases. As the system develops and the roadmap of the Alfa Coin is completed, more tools will be added. The most significant tool is going to be the FASTPAY app which will work similarly as your bank’s app.

Alfa Coin Support

There is ample information on the FAQ section of the website, but if you are looking for even more support, you can directly contact the team at Alfa Coin, Bank of Trust. There is not much support available elsewhere on the internet as it is not really a popular one as of yet. There is no discussion on the forums about this; neither there is any review from an authentic source. Most support is limited to the website and the contacts available there which is not a good thing.

The Good and the Bad

Everything comes down to what is good and what is bad about the new cryptocurrency.

The Good

  • Small investment
  • Promising idea
  • Uses Ethereum based system

The Bad

  • High risk of scam
  • Project owners are not very popular
  • Long way to go for implementation of the plan
  • High risk of cryptocurrencies failing lately
  • Not available in the USA

Alfa Coin Scam or Legit?

It seems though Alfa Coin, Bank of Trust is yet another cryptocurrency venture that has its pros and cons. If it lives up to the claims, then it can be a very successful digital currency and help transform the banking and payment system. However, only time can tell since right now, only the period of ICO has been completed.

Although they offer a lot of bonus opportunities, this is a risky investment as the chances of it being a scam are high given that there is not much information about it on the internet. If you are not a risk taker, it is not worth spending your Bitcoins, Lite coins, or Ethers on this as it may turn out to be another failed project. Nevertheless, it seems like a good idea to have a digital currency bank that aligns with traditional banking since it will make the transition we are all hoping for rather easy.

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Maxx Tan
 

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