ERD Token: Is El Dorado Coin Another ponzi?

ERD Token

If you’re considering buying into a project such as Eldorado, it’s not a bad idea to read through this review to ascertain if this would be a worthwhile venture.

Selecting a good token for investment is not an easy task. There are thousands of tokens that have been launched already since the days ICOs became popular but many are just worthless.

What we know of Eldorado is that it is a token that was created to bridge the gap between blockchain based enterprises and blockless ones. Accordingly, the project hopes to become a bill payment gateway through which people can access bookings such as reservations for vacations.

According to the Eldorado team, one of its token is valued between $1 and $10. The site stated that they are planning to boost the value of the coin through a number of activities such as what they called a new blockchain revolution.

Is This A Good Investment?

ERD Token

Many blockchain projects have been found to be useful, but there are many others that are worthless or even meant to defraud users of such ecosystems. In this review, we shall take a closer look at the ERD token of El dorado to determine if you will make profit by investing in it.

The company has announced the listing of the token in an exchange, CREX24, however it is important to understand that listing does not guarantee a good project. In fact, many exchanges will list worthless tokens for the right amount of payment from the owner.

In a recent release, users of the token have been advised to move their tokens to a Mercatox account to start trading them with Bitcoin. Now that is a weird instruction and an indication that you need to be a trader to use this token. Nevertheless, we understand that every holder must trade at some point.

Sport App and ERD Token Cart

The site claims that it is the biggest crypto project around. However, its main operation seems to be a sport app using for gaming and a payment app. There is nothing wrong with these but it doesn’t make the project close to any big one in the crypto space.

According to the site:

“We provide you with secure, frictionless access to all areas of the Eldorado platform – including all users and services – via ERD. Manage and transfer your assets, open payment channels, access enhanced functionality and cover any network fees with a single token. Earn and Hold ERD token from geteldorado.com and Transfer to Payerd.com to use for Utility bills, ticket booking, recharge or more.”

These are normal services that could be seen in the industry but it got really tricky at this point because the site also claimed that you can earn a massive 0.6 percent daily by investing in the ERD token. The question is how they hope to make that happen.

“Purchase packages and receive 0.6% of daily returns to ERD wallet for 1 year, Profit ERD’s are accessible”

ERD Token

A HYIP Scam

Fraudsters are always in a hurry to deceive as many people as they can and steal their money, so their best strategy is promising high ROI as quickly as possible.

People are generally impatient with many of them unaware that the best investments are not those that promise overnight riches but a steady progressive growth of their assets. This is why fraudsters are still in business.

Eldorado has 5 investment packages with the least valued at $25 and the biggest at $3000. What is obvious is that none of those would give the investor what they actually expected while investing.

ERD Token

It is obvious that this scheme is more or less a ponzi that hopes to grow its user base through a massive affiliate program. It is practically impossible to sustain a ponzi scheme whether it is based on fiat or digital assets.

The owners probably are banking on the fact that they have control of the coin, what they fail to understand is that you cannot game the system perpetually.

Are There Good Investments?

Instead of risking your funds with an unreliable ponzi, it is better to invest with companies that have track record of success. The investment site that we recommend is this one where you can take advantage of the copy trading option to get the result of professional traders.

First, you have to sign up. Then make a deposit of at least $200 before using the copy trade option by following a recommended trader. This is a very smart way to grow your asset.

What is your view about ERD token? Please share it with us using the comment box below.

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Author: Jofor Humani

Peddling words has been a passion beneath the surface. I speak less than I write...naturally. Aside speaking and writing, I walk too...good for your heart they say. I sometimes do not feel like writing. Then I enjoy quiet times which I use to think and stay with family.

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