ATK Coin Scam or Not?

ATK Coin Scam or Not?

In the growing world of cryptocurrencies and blockchain, new currencies and ideas are coming out every season. However, many are just money-grabbing schemes that do not have any truth to them except for a fancy website and a futuristic idea. ATK Coin is a cryptocurrency in the making, but before you get your hands on it, it is essential to answer the question “Is ATK Coin scam or not?” in detail.

As the website atk.org shows, ATK is in its ICO phase. The idea behind this so-called cryptocurrency is to provide a marketplace for sellers and buyers where the de facto currency for the transaction would be the cryptocurrency ATK coins. Obviously, right now, they need funding to realize this project.

What Is ATK Coin and How Does It Work?

ATK Coin is supposed to be a marketplace that is different from traditional online markets. The difference is that it uses a decentralized payment system as it is based on the blockchain. The ATK blockchain would allow clean and transparent dealings, and users will be able to create shops and sell stuff, while buyers will use cryptocurrency to buy this stuff.

There will be a reward point system as well that will add points to your account every time you buy or sell something. These points will be in the form of ATK coins which can later be used for shopping on the same marketplace.

Sellers will also be able to advertise their products, and this is how most revenue will be generated for ATK. This revenue will also determine the base value of ATK Coin Token.

In order to start, you will be required to sign up and create an account. You will be able to use the Trust Wallet App to send or receive ATK Coin Tokens. The initial price of ATK coin is 0.0001 BTC, and according to their website, there were over 310,000 ICO participants.

This is all the information on the website which may look promising but does not confirm if it is a legit cryptocurrency platform where your investment will not go to waste.

Who Is ATK Coin For?

ATK Coin like most cryptocurrencies is for those who have the know-how of how blockchain and cryptocurrencies work. It is designed for people who may want to start acquiring cryptocurrency by selling stuff. The idea is of a marketplace that uses digital currency and blockchain to record transactions.

ATK Coins will be entered in popular exchanges as well as the whitepaper states that 5% of the ICO will be kept for this purpose. Perhaps those who want to get in on trading cryptocurrencies can also start accumulating these ATK coins.

Are There Other Tools or Training?

There are no tools as such or training required, and in order to begin, all you need to sign up. Nevertheless, if you want technical information, you can take a look at the whitepaper of ATK Coin. There is also a presentation about the concept on the website.

What about Support?

For supporting access to ATK coins and buying more, the ATK Coin plans to launch an app, which is still in the development phase, that brings everything together. It will give you mobile access to the marketplace anywhere at any time. It will also act as a bank where you will be able to convert the ATK Coin into any other currency or gold.

Your dashboard will also be available on the app, and everything can be managed from there. Thus, you can sell stuff directly from your phone and handle your wallet as well.

The Good and the Bad

To help answer the question “Is ATK Coin scam or not?” let’s review what makes this cryptocurrency good or bad. This is what we have inferred:

The Good

  • Promising idea: If you just take into account its whitepaper, this system could actually work out great since it is a marketplace where the currency is digital and transactions are encrypted to provide maximum security.
  • Mobile access: The app will allow users to access their accounts on the go and exchange their ATK coins into other currencies.
  • Low ICO price: The starting price for the ATK Tokens in ICO is pretty low which makes investment very cheap. As a start, you can invest a minimal amount of money.

The Bad

  • High chances of scam: There are very high chances that this is a scam as there is no authentic information available elsewhere on the internet, so you cannot be sure that the money you are investing will ever come back.
  • Unknown people: The faces and names behind the project are unknown. There are no profiles on LinkedIn or any other social media platform, which makes it even more suspicious as to whether we can trust it or not.
  • Lack of technical details: There are not many details about how the system would make all that it promises possible. It looks good as an idea but what about the implications? It seems far from possible at this point.
  • Lack of address: There is no address detail about the project which is actually common for such websites. Nevertheless, it makes it even more unsafe. You do not know who to contact for more information.
  • No tutorials: Unfortunately, tutorials are not available on the website to help users understand how to go about it. A novice person who does not know anything about cryptocurrency will have a tough time.

ATK Coin Scam or Legit: The Conclusion

From the website and further research, it seems like ATK Coin is just another scam in the cryptocurrency world, at least from the look of it, so it would be a high risk to invest in this opportunity. The address on the website is non-existent, and the profiles of the people behind the project seem fake. Even though it sounds like a very good opportunity, it is difficult to establish its authenticity.

Whenever you are buying cryptocurrency or anything for that matter on the internet, you should investigate it thoroughly. In the case of ATK Coin, just a simple search on Google revealed that this project is absolutely unknown. There are no discussions about it on popular forums as well.

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Maxx Tan
 

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