Monyx ICO: Company Review and MYX Token News Updates

Monyx MYX ICO: Safe Bitcoin Affiliate & Cryptocurrency Lending?

There are now new ICOs hitting the market on a daily basis, but not all of them are good investment opportunities. Some suffer from marketing issues, some lack a large enough market, and some are downright fraudulent.

The unregulated nature of ICOs have drawn scammers and fraudsters to the initial coin offering ecosystem like moths to flame, and as a result the market has become flooded with hundreds of different variations on standard Ponzi schemes, dressed up as innovative and disruptive ICOs.

In this article, we’ll take a look at a fairly obvious example of a fraudulent ICO that ticks all of the boxes for a scam. Monyx.io claims to be the “future of investing”, but is more than certainly a Ponzi scheme.

What Is Monyx?

Monyx.io claims to be a new cryptocurrency investment platform that uses “AI powered algorithmic trading”. Hilariously, Monyx.io claim that the “Monyx AI outperformed Bitcoin in 2017”, a statement that makes no sense whatsoever.

As far as the Monyx.io sales pitch is concerned, it doesn’t deliver any features or variations from the standard pitch presented by most “lending” ICOs, high yield investment programs, or other out-of-the-box ICO platforms.

Monyx.io offers investors the opportunity to purchase tokens and then invest them into the platform for a guaranteed return, which is available in an increasing scale depending on the amount of capital invested.

Monyx Red Flags

There are a number of red flags that make it fairly obvious that Monyx.io is a scam. Firstly, the creators of Monyx.io offer no information about who is behind the project, deliver no roadmap, and even whois protect their domain to prevent information about the creators becoming publicly available.

Secondly, the Monyx.io platform did not exist until recently- the domain for the Monyx.io site was registered at the beginning of November 2017, making their nonsensical claim that their platform “outperformed Bitcoin in 2017” even more ridiculous and blatantly fraudulent.

Lastly, a massive portion- more than 35%- of all pre-mined Monyx.io tokens are to be reserved for the development team and “underlying assets”, which is a clear sign that the creators are simply planning on cutting and running once the ICO launches.

Monyx MYX Token ICO Details

• ICO START: 23rd December 2017
• ICO FINISH: 14th January 2018

The Monyx ICO will have one Pre-Sale and 5 rounds. If all Monyx coins sell out in a single round, the next round will start in 24 hours, at a higher price. There will be a cap of max 5,000 MYX per 24 hours per account. There is a bonus system in place as well.

Monyx Verdict

Even if the Monyx.io platform begins to pay out on investor ROI- which is extremely unlikely- the collapse of the platform is inevitable. Our advice? Stay away from Monyx.io.