Wo Token is a profitable coin storage project that is well known in the crypto community recently. WoToken is similar to Cloud Token or Plus Token. However, it seems that many investors still don’t know much about it. Therefore, today, we will learn with you what WoToken is? Is WoToken a scam?

What is WoToken Wallet?

According to the project’s introduction and some advertising leaders, WoToken is described as a smart electronic wallet that supports storing cryptocurrencies such as Bitcoin, Ethereum, etc. In addition, it is a technology-based dApp application. Blockchain, can manage cryptocurrencies and link with bank cards to create a seamless connection between digital assets and the real world.

In short, WoToken can be thought of as a digital wallet similar to Blockchain, Imtoken or Trust Wallet. However, there are still slight differences in terms of platform, technology and many other things. WoToken can not only store coins, but users can also buy investment packages to receive daily interest with a maximum profit of up to 20%/month, an interest rate that cannot be more attractive to investors. private. As such, WoToken is no different from profitable wallet projects Cloud Token, SCF Token, Plus Token or most recently, S Block.

Edward Wu – CEO WoToken

What is WOR Token?

Although the project currently does not provide much information about the WOR token. However, WOR is described as an ERC20 token running on the Ethereum Blockchain. Users who buy the WoToken investment package will be required to use coins such as BTC, ETH, etc. to buy WOR tokens and then use WOR to invest, receive interest in WOR. Accordingly, WOR coins can be converted into BTC, ETH, etc. and supported by WoToken wallet at any time.

WoToken investment package and interest

Currently, the WoToken project has only 2 investment packages:

• Investment Package 1: Minimum investment of $1,000 or more, you will receive a daily interest rate of 0.25% – 0.5%; Monthly interest is 6% – 15%.
• Investment Package 2: Minimum investment of $5,000 or more, you will receive daily interest of 0.3% – 0.65%; Monthly interest is 10% – 20%.

All profit from WoToken will be paid in WOR. The user can then convert WOR to BTC, ETH and withdraw. According to some sources, WoToken allows investors to withdraw capital at any time.

WoToken pays referral commission through salary structure in a multi-level style

The project policy is as follows:

• Withdraw the principal before 45 days, you will be deducted 5% of the fee/total investment amount.
• Withdrawal of principal after 45 days, you will be deducted 1% fee/total investment amount.

WoToken wallet uses AI technology to trade and this is different from other profit-making exchanges. From there, the project will have money to pay interest to investors. This is the form that all interest-based coin storage wallets currently use and is also the only explanation for the question ‘where do they get the money to pay investors’ interest’?

WoToken project evaluation

First, with any project, whether it’s a cryptocurrency or a digital wallet, you should check out its official website. WoToken has the official website name wotoken.pro. This is a relatively simple website, or it can be said that it is not professional.

The site is pretty basic, and the domain doesn’t have an SSL security certificate (which can be done for free). Furthermore, the website keeps crashing due to all the interface errors and very little information. It has only a few introductory lines, an app download report.

Source: Wotoken.pro

The “Ecological Links” section means ecosystem partners. There are many notable names like ImToken, BTC.com, CCN, My Token… and even Ethereum. However, all links point to the home page; There is no information about cooperation with the project.

No smart contract: Surprisingly, WOR is an ERC20 token but no smart contract.

No social media channels: Any project needs to have social media channels to support users, update news like Facebook, Telegram, Twitter, etc. However, WoToken doesn’t have any.

There is no information about the company or the development team behind the project.

• Partner of Neraex exchange

It is known that WoToken technology was acquired by Japanese exchange Neraex. Neraex actually has a statement on the matter. However, Neraex is just a small trading platform. Therefore, the reliability is not high.

Source: CoinMarketCap

• Leading 1WorldBlockchain Development Team

WoToken is introduced as the project of 1Worldblockchain. This is a company that provides financial services solutions. However, the official WoToken and 1WorldBockchain websites are not linked.

WoToken is a scam?

The project does not provide the necessary aspects for compliance.

These are our main concerns:

• No retail products offered.
• ROI commissions are not registered with the SEC.
• There are too many questionable points mentioned above.

Just the above information is enough to put WoToken in the list of Ponzi projects besides Cloud Token.

Conclude

With such concerns, we do not encourage you to invest in this project. The reason is simply because it is too sketchy. Not to mention that the British Columbia Securities Commission is investigating the failure to register a license to offer securities in Canada.

Some Chinese investors say the people behind PlusToken, Wotoken and some other Ponzi schemes are in the same audience. It is the key members behind PlusToken scam have been arrested and other major scammers are still dumping cryptocurrency in the market, there is little opportunity for investors of projects like so get your money back.

On the same day, police in Baotou city, Inner Mongolia, northern China warned the public this project was an exit scam as many investors reported that withdrawals had been stopped and soon after the wallet application Wotoken has been discontinued.

Minh Anh

According to AZCoin News

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