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Is Clucoin Scam

Clucoin Scam

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Is Clucoin Scam? Are you looking into investing in cryptocurrencies and are doubtful of their legitimacy? Well, you’ve reached the right place. (May 2021) >> Read this article to verify the authenticity of the cryptocurrency Clucoin.

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With the advent of cryptocurrency into the money market, investors have been heavily investing in it. There are more than 2000 types of cryptocurrencies prevailing in the market currently. Despite lacking any government intervention and being a very volatile market, it made its way into many investment portfolios. Even though blockchain technology offers a high level of security, investors are still falling prey to many crypto scams. One must perform thorough research before investing in cryptocurrency, as it is a very risky market to enter. 

So, in this article, we will attempt to verify the credibility of the Clucoin cryptocurrency.

Clucoin – A Brief Description

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Clucoin is a hyper-deflationary token with a smart staking system. It is founded by DNP3, a computer engineer and a popular gaming video creator based in the United States. The Clucoin token is built off safemoon protocol. This is done to protect the investors by rewarding them a 5% return every timesomebody sells. The main objective of this token is to encourage the holders and discourage the sellers. They also provide a crypto wallet to their users.

Clucoin’s mission is to assist charities operating all around the world. The dividends earned will be provided to these charities. 

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Now let’s look into the Clucoin Scam?

Specifications

  • Domain: https://clucoin.com 
  • Domain Age: Registered on 02-09-2020.
  • Launched on: 19-05-2021.
  • Products Offered: Crypto tokens.
  • Token Name: Clushare.
  • No. of tokens produced: One quadrillion token is made out of which 200 trillion coins are available on PancakeSwap.
  • Type of Token: BER-20.
  • Based in: United States.
  • Operates on: Binance platform.
  • Exchanges for trading Clucoin: PancakeSwap (V2), Hotbit, and DODO BSC.
  • Security: it is secured on the Binance Smart Chain.
  • Wallet: Clushare wallet.
  • Contact: clushare.com 
  • Social Media: Twitter, Discord, Telegram & Reddit.
  • Owner’s social media: Instagram, YouTube, Twitter, Facebook.

Pros

  • Ecofriendly.
  • Provides funds to charities worldwide.
  • Highly rewarding to the holders.
  • Present on social networking platforms.
  • The owner’s details are available.
  • Safe and secure.
  • Possibility of short-term and long-term gain.

Cons

  • Very recently established.
  • No FCAS score is given due to limited data.
  • A low rank of 2635.
  • Price is highly speculated.
  • Highly volatile.
  • Lack of technical data on the white paper.
  • The charities given may not be genuine.

Is Clucoin Scam?

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After performing thorough research on how Clucoin and Clushare operate, the Clushare token is in question regarding its authenticity. It came into existence on 19-05-2021, i.e., it has been less than a month since its establishment. The credibility scored earned by this token is 0.9 out of 10, which is extremely low and indicates a significant level of suspicion. 

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The tokens are not listed on any of the major data tracking websites. Moreover, the price is being raised by the speculation wave. There is a higher level of risk for those who buy at a higher price. Furthermore, the charity work done is in the form of giveaways to random people. This does not account for the charity. Moreover, it imposes heavy taxes on those who sell the tokens; it is done to discourage selling. This kind of multi-level marketing strategy is often a sign of a scam. 

What are the user opinions on Clucoin? 

We’ve visited several sites to find reviews by the customers and investment analysts. The investment and market analysts advise a great level of caution and bring up the probability of the Clushare token being a scam. 

On the other hand, the customers are giving both positive and negative reviews. Most customers opine that these tokens are not as profitable as Clushare claims them to be. The others have commented on it being a security token with decent mechanics.

Conclusion

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Overall, to determine whether Clucoin Scam or not, it is essential to look at the credibility score earned, which is very low, indicating some level of risk. The cryptocurrency is not as genuine and profitable as it claims, as the price is pushed up due to speculation. Additionally, the information provided on the white paper is very misleading and insufficient. So, it is advised that people interested in investing in Clushare perform thorough research about it and should also be open to a greater level of risk. 

Please use the comment section below to share your experience and help others verify the legitimacy. 

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