YOU SHOULD NOT INVEST IN THESE CRYPTOS

Analysis. Bitcoins have gained massively in value. Now advertise other cryptorries around investors and lure with hefty commissions. But the new coins are a risky investment.

Bitcoin has been in high demand for several months now. Over € 2,500 a Bitcoin was worthwhile in the meantime. As a new, hot tip, Ether has recently adopted another crypt diet, the value of which has increased more than five times in recent months. Anyone who thinks he can make the big money with currency speculations with young cryptanages is perhaps right - or he loses everything.

In addition to bitcoin and ethers, a few new cryptos have recently appeared, in which investors should be aware that they are high-risk investments.

Onecoin

The company behind the crypt diet Onecoin describes its product as a "financial revolution". Onecoin has been on the market for two years. But behind the newcomer of the crypto-scene there may be a snowball system - even if the company is resisting this claim.

The crypt was founded by Bulgarian Ruja Ignatova. The Crypto Queen, a graduate of the Oxford University, likes to call himself. Two years after the launch of its currency, Onecoins is already one billion-euro company. According to the company, the company is one of the world's second largest crypto-nutrition brands, oneCoin, OneLife Network and OneAcademy. Three million customers are said to have already invested.
Unlike bitcoins, whose source code is open and which are traded on various portals, onecoin transactions can only be handled via the company's website. Investors are thus completely dependent on the Onecoin operator. A blockchain should exist but is not publicly accessible.

The "Finance Revolution" is funded, among other things, by training courses for those interested in learning how the trading and exploring of Onecoins works for 130 euros. The most expensive courses cost several tens of thousands of euros. Onecoin fans who advertise to other customers receive commissions from the company in the form of so-called toes, through which new onecoins can be mined.

Swisscoin

The young competitor of Onecoin is called Swisscoin and does not come from Switzerland, as the name suggests, but according to Handelsregister from Leipzig. On request, however, the Coin supplier declares that he is committed to the "Swissness" of his products. The company's business in Switzerland is also to be found. Swisscoin is similar to Onecoin. So similar that it is Onecoin a thorn in the eye.

Just like the older competitor, Swisscoin earns money, among other things, with the sale of training packages, more than one million users are said to exist according to the company. "We are working intensively on the expansion of distribution channels," the company says. In addition, the Swisscoin source code is to be published "shortly" and a "central decision-making body" will be omitted. A blockchain is already publicly visible, but shows only the transactions of a "test system". Swisscoin nevertheless at a similar risk level as Onecoin. Swisscoin says that it is difficult "to distinguish between" black sheep "and real service providers" without knowledge of internal systems. Many other Coin vendors offer only contentless products and try to deceive customers. This is different with Swisscoin.

To date, both currencies - Onecoin and Swisscoin - have been the opposite of what the crypto scene actually represents: non-public source codes, lack of transparency and centralized control.