Teno Coin ICO: Company Review and TNC Token News Updates

Teno Coin TNC ICO: Smart Cryptocurrency Lending Program?

Teno Coin, found online at TenoCoin.com, is a digital currency involved in a lending scheme. The token also functions like an ordinary digital currency: it enables instant, low-fee, international payments across an open source network. The network is secured by math and encryption.

The Teno Coin (TNC) ICO is taking place from January 1 to February 1, 2018.

There are a number of red flags about Teno Coin. Right away, the platform seems awkwardly similar to notable scams like Bitconnect and Hextra: it promises absurdly high returns every month with no risk whatsoever. The tokens are also sold at a fixed number every day, with the price nearly tripling from the beginning of the ICO to the end.

We’ve seen all of these tactics used by sleazy ICOs in the past. Teno Coin has also issued a price target for its token: it claims its token will be worth $200 before the end of the year, although they’re selling it for just $1 today in the ICO.

Is Teno Coin yet another scam coin? Or is this a legitimate investment opportunity that can make you rich quick? Let’s take a closer look at how it works.

How Does Teno Coin Work?

Teno Coin, or TNC, is a token that allows you to participate in a lending and staking scheme. Basically, with both lending and staking, you lock your money for a fixed period of time, then receive enormous interest rates.

Teno Coin promises to pay you up to 55.8% returns every month through the lending scheme. That’s higher than most lending schemes, which “only” advertise returns of 48%. It’s unclear how much money you can earn through Teno Coin staking.

Right now, Teno Coin has no products or services available. The company claims to have created its own internal exchange, but that’s about it. The lending and staking system are scheduled to launch in February 2018 after the completion of the ICO.

By October to December 2018, Teno Coin’s development team believes its token will be worth an incredible $200 per coin. It’s unusual for a crypto project to provide defined price targets for its currency, and it’s even more unusual to predict 2000% gains in less than a year.

Teno Lending Program

Teno offers unrealistically high interest rates on its lending program:

• $100 to $1,000: Interest rate of 55.8% per month, money locked for 240 days
• $1010 to $5000: Interest rate of 55.8% per month + 0.16% per day, money locked for 210 days
• $5010 to $10,000: Interest rate of 55.8% per month + 0.24% per day, money locked for 180 days
• $10,010 to $100,000: Interest rate of 55.8% per month + 0.32% per day, money locked for 90 days
• $100,010 to $250,000: Interest rate of 55.8% per month + 0.38% per day, money locked for 60 days

Teno Coin Features

Open Source Software:

Teno Coin describes itself as open source software released under the MIT/X11 license. Users have the power to copy, modify, and run the software however they like.

Security:

“Wallet encryption allows you to secure your wallet, so that you can view all your transactions and your account balance,” explains the website as if it’s speaking to a 5 year old. It’s unclear what Teno Coin’s team means by this statement. However, the website and whitepaper are filled with these types of flowery, pointless statements.

Blockchain:

The Teno blockchain is capable of handling higher transaction volume than its counterpart, Bitcoin, because it has more frequent block generation. The Teno Coin website also claims that “the network supports more transactions without any modify the software in the future [sic]”.

Mining Reward:

Teno Coin miners receive a mining reward of 50 Teno Coins per block, which gets halved every 1.2 million blocks.

Teno Coin TNC Token ICO Details

The Teno Coin (TNC) ICO is scheduled for January 1 to February 1, 2018. 100,000 TNC will be sold every 6 hours until the end of the ICO. Referral bonuses of 5% are available. If you refer someone to the ICO, you’ll get paid 5% of the coins they purchase. Tokens are priced between $0.50 and $1.35.

Who’s Behind Teno Coin TNC?

One of the easiest ways to spot an ICO scam is when the company refuses to disclose any team information, location info, or other personally identifying information. Such is the case with Teno Coin. Neither the whitepaper nor the website feature any contact information, team names, or other things you need to know before sending money to someone online.

When someone advertises an enormous investment opportunity to you, but refuses to disclose any information about themselves to you, you’re probably being scammed.

Teno Coin TNC ICO Conclusion

Teno Coin appears to be a scam similar to other lending schemes we’ve seen online in recent months. Obviously, some of the scams – like Bitconnect, Regalcoin, and Davorcoin – are more successful than others.

Teno Coin has no products, services, or platforms currently available online. The Teno Coin (TNC) ICO is taking place from January 1 to February 1. You can purchase tokens for $1. The tokens will be worth $200 by the end of 2018, according to the Teno Coin website and whitepaper. While you’re waiting for the price to increase, you can also earn 50% or higher interest rates by depositing your money into the company’s lending program.

Ultimately, we can find no evidence that Teno Coin is a legitimate investment opportunity based on everything in the whitepaper and on the website.