Futurocoin (FTO) - Polish cryptocurrency full of controversy

Futurocoin is a Polish project that is still in its infancy, and it has long been louder about it than about most other cryptocurrencies. Unfortunately, however, it cannot be said that this is a fame that is worth keeping warm. Both the Office of Competition and Consumer Protection and the cryptocurrency community are warning against cryptocurrency.

We are continuing the cycle of the Forex Club portal, in which we describe the most valuable, highly valued, most popular, promising and controversial cryptocurrency projects from around the world. Today it's time for Futurocoin - undoubtedly one of the most controversial.

What is Futurocoin

Futurocoin (FTO) is a cryptocurrency based on the cryptocurrency source code Dash. It was created by the Polish-German company FutureNet. Critics, however, accuse it of not being decentralized, which means that it cannot be classified as a cryptocurrency, and besides, it is directly related to FutureNet and FutureAdPro companies that deal with multi-level marketing (MLM), and according to some, they are just financial pyramids.

It is an indisputable fact that Futurocoin is advertised quite differently than most cryptocurrencies. Marketing says a lot about your potential profits. At the same time, there is practically nothing about the specifics, principle of operation and problems that this cryptocurrency could solve.

FutureNet investigations

On 19.12.2017/XNUMX/XNUMX, the Office of Competition and Consumer Protection started proceedings regarding FutureNet. The company is also judged by Rafał Zaorski - a charismatic trader, famous e.g. from fighting companies trying to trick less experienced investors.

in 22.03.2019 UOKiK has already officially warned against FutureNet and the FutureAdPro advertising platform, informing that they may be financial pyramids. The investigation in this case is also conducted by the District Prosecutor's Office in Wrocław.

The emergence and operation of Futurocoin

The idea of ​​creating the Futurocoin cryptocurrency came from a Pole, Roman Ziemian, and a German, Stephan Morgenstern, who runs FutureNet - a portal that offers the purchase of advertising packages, earning money for viewing ads and recommending it to others.

In 2017, Sylwester Suszek, the president himself, assured the support for the new Polish cryptocurrency BitBay exchanges. However, after a wave of criticism, it turned out that Futurocoin made its debut on the Russian YoBit exchange in February 2018, and only a few months later was it available on BitBay.

Futurocoin is a token that is to handle payments on the FutureNet platform. Ultimately, there will be 100 million FTO units, but 30 million of them have been excavated in the first block. This is an unusual phenomenon in the world of cryptocurrencies. The creators of the project claim that these tokens were added to the marketing fund, but this also had a repulsive effect on investors.

As is the fact that all masternodes on the network - which earn money by confirming transactions - are owned by FutureNet. Therefore, only the mining of more cryptocurrency units is decentralized, and this is definitely not enough for the project to be well perceived.

Technically Futurocoin gives nothing more than the Dash which is its prototype. It gives even less, because for regulatory reasons, the possibility of making anonymous transactions has been removed from the draft. However, it has extensive - especially in Polish - marketing, a list of blogs recommending it and sponsored articles, which may suggest that it is a really great investment.

Futurocoin (FTO) quotes

In fact, Futurocoin (FTO) is listed on just four cryptocurrency exchanges from around the world. As of 22.07.2020/0,005/9,9, each unit costs $ 54. There are XNUMX million of them in circulation, which translates into a capitalization of only XNUMX thousand. USD.

We had the peak of trading on June 8, 2018. At that time, each token was paid as much as USD 18,66, and the market capitalization exceeded USD 630 million. Over the past year, however, the FTO price has fallen by 99,3%.