Onecoin, the so-called cryptocurrency has been around for almost two years now. The digital currency has received mixed responses from the digital currency community, depending on whom you ask about the infamous Onecoin. While those who are invested in the digital currency tend to speak highly of it, others would either call it a scam or would have never heard about it.
What Is the Problem with Onecoin?
The concept of cryptocurrency was introduced by Satoshi Nakamoto when he published a paper on Bitcoin. Bitcoin is an open source, transparent, peer-to-peer transaction platform. All the digital currencies that came after Bitcoin have at least one or two features in common. But when it comes to Onecoin, things are entirely different. Even on the website, no attempts have been made to explain what they are doing and how it really works.
The vaguely written content repeatedly shouts aloud saying it is better than bitcoin and it has a large community of users. But if someone wants to really find out more about the so-called digital currency, they have to sign up, hoping to find more information in the member’s area.
Onecoin follows a Multilevel Marketing approach for adding new members to the community. The members