It’s the era of utmost digitalization with almost everything bring digitalized and currency is not left out of this. One of the over 2000 cryptocurrencies scattered around is Pinkoin.
If you have an eye for investment, you may wonder if Pinkoin is worth investing in. Before we begin, let’s see what Pinkoin is about.
What is Pinkoin(PKN)?
Pinkoin is the first global reserve cryptocurrency founded by Amos Sewanu Omotade-Sparks, the CEO of iBSmartify, Inksledger Technologies.
The investment is unique in its own way as it is considered as an ‘idea that was spiritually inspired and based on love.’ Rather than use the common model of cryptocurrencies, it uses blockchain technology to enhance the economic well-being of users by making them the node for the system rather than creating a system that is based on highly irregular price movement.
According to the founder of the investment, the idea was inspired by a dream in 2017 which led to rigorous research and development that results in the development of 8 use cases.
The idea is aimed at helping middle- and low-class-income earners as well as persons that are vulnerable to financial crisis and job shortfall that is about to hit the market before the next 10 years.
Among the innovation of this company is the invention of the first global philanthropic blockchain network called InksLedger and the first global trust for a charity known as InksNation. These inventions are predicated upon ending poverty in any country they operate in within 9 months.
In order to promote love, goodness, unity, peace and oneness, the company invented the first global reserve cryptocurrency called Pinkoin and the first QR debit card in Africa known as Pinkard.
Due to Pinkcoin qualities as the native asset of Inksnation, it is called ‘the democracy of money’ because it is based on ‘money of the people, backed by the people, and for the people.’
Pinkoin is a cryptocurrency because it is based on the InksNation blockchain network with human being as a living node.
However, it is different from known cryptocurrency because it combines the feature of both Stablecoins and floating coins without being listed on the crypto market.
1 PKN is worth more than $1,223 with over $160million market cap.
Is Pinkoin legit?
With the uncertainty and innovation of PKN, any investor in his right frame of mind will be forced to ask if the coin is legit and is worth investing in. However, nothing is impossible.
By weighing the pros and cons of PKN, you can draw a conclusion if you want to invest or not.
To be a member, you need to invest through any of the available package: sunfish, dolphin, shark or whale node package.
You need to contact an exchanger to activate your account after registering and you will become a universal trustee of the Inksnode package which enables you to receive $11 daily.
This is necessary because the platform seeks to eradicate poverty.
To make withdrawals, you will take your Pinkard to an exchanger where it will be exchanged for cash.
This looks like a well-planned system that is set to succeed, all things being equal. Therefore, it can be said to be legit.
However, on November 13, 2020, bitcoinke reported that the Economic and Financial Crime Commission (EFCC) declared the CEO of PKN, Omotade Sparks wanted for defrauding people of money worth N32million.
The Nigerian Blockchain association also stated that it failed to register the organization due to questions of sustainability of the program which is found rather unachievable.
This came after the Securities and Exchange Commission of Nigeria (SEC) and Blockchain Association of Nigeria (SiBAN) flagged the scheme off as a Ponzi scheme.
Don’t miss important articles during the week. Subscribe to techbuild.africa/blockchain weekly digest for updates.