Ploutos Coin Review: A Cryptocurrency Even Better than Bitcoin

Being in the IT industry and couple of years in cryptocurrency investment, here is my opinion and analysis for Ploutos coin. Read until the end to make an informed decision whether to invest now or later in this local crypto. ~TMI  

Screengrab from Ploutos-coin.com website

Ploutos Coin, the newest decentralized cryptocurrency that is currently undergoing its ICO or Initial Coin Offering based locally in the Philippines is even better than the pioneer in crypto currency world-- Bitcoin.

Why it is considered better than Bitcoin? According to its investors, here are some of the reasons why:

1. The price is controlled by one man, the founder and creator Mark Freeman.
2. No more mining unlike other crypto currencies.
3. You know who are the people behind it and who is the creator, unlike Bitcoin, you only know it was created by a Satoshi Nakamoto but had no idea who he was and if he really was a real person.
4. Price will only go up and skyrocket.
5. The only crypto currency that gives away cars and more prizes for free.
6. It is decentralized.
7. It is derived from Bitcoin.
8. It will surpass the price of Bitcoin in the future.
9. It's price is based on the law of supply and demand and also based on the forex trading.
10. Better to buy now while still on ICO so that when it reaches and surpasses the price of Bitcoin, you will surely become rich.
11. There are a lot of investors from PNP and DepEd including their top officers so it is very credible.
12. In just a few months, you will double your money.

Are you not convinced by the given reasons why it is claimed that ploutos coin is way better than Bitcoin? What are you waiting for? You should consider buying ploutos coins now while the price is low, because once it will skyrocket, you will surely be left out.

This is 100% legitimate because ploutos coin has many investors with high ranks from PNP, and DepEd and many other professionals like forex traders.

The statements above are very convincing for unsuspecting public who wants to invest and grow their money fast. Can you imagine you will double the value of your money in just months? Who wouldn't want that right? This must be a once-in-a-lifetime chance to grow our investment portfolios right?

But, as an investor, we should be responsible for our investments. We should make sure our investments are safe and that our chosen investment vehicles are reliable and of course complete with licenses and required papers from the government. We must first do some background checks on the companies or corporations where we are entrusting our money as investment if they are authorized by SEC or DTI or other important government agencies needed to operate investment schemes or products and if they have legal authority to do the job of growing our money.

Checking the credibility of the company we are joining is very important especially if we are also recruiting others to join us like our friends and families because we might be blamed for their decisions in the future if it ended up in trouble.

"Only invest the amount you are willing to lose"

When investing, of course we must know the golden rule, that we should only invest the amount we are willing to lose. But that doesn't mean we will just give our money to anyone who promises a bigger return and we won't never mind how and where they put our money. It's still our responsibility to check and verify the credibility of the companies we are investing with. The golden rule does not set aside that, we must not forget that because that should be a prerequisite, to make sure the company and the organization is credible and then to apply the golden rule after you have made it sure it's reliable.

Final advice, don't just believe what they are saying about their investment products, of course if you are selling something, you will only highlight the bright side of your product. Make it a habit to learn and understand it yourself and maybe ask some experts or connections who are more knowledgeable on the investments you are planning to join. Ask the experts and listen to what they say and have an open mind. Don't be angry to them if their views is different from what you initially believed and search for more answers if you are not satisfied.

Remember not to use your heart in investing, we should always use our brain. Don't be fooled by the higher and bigger profits because sometimes if not always, they are trap for a bigger scam.

Time is money as some say in investing, invest in order to grow your financial portfolio and not to be rich overnight, investing doesn't work that way, unless it's a scam

CONCLUSION

The listed reasons above comes from investors and are not really my opinion or views, if you believed the given reasons above about Ploutos Coin? You have fallen for the trap already because based on that statements, there are so many inconsistencies.

A legitimate decentralized cryptocurrency doesn't work like that. How come it's decentralized if the price is controlled by one person? How come it's better than Bitcoin if it has no mining? No adoption from the community, and possibly not even using block chain? Can it be even called a crypto currency without having a blockchain?

For me, this ploutos coin isn't qualified to be called a crypto currency unless they will implement important technology such as blockchain on it.

Until the time comes when they can show their complete licences and white papers from government agencies and implement important technologies such as blockchain in ploutos coin system and partner with other established brands, I can consider this as an investment, as of now, this Ploutos coins are just numbers in your online ploutos account sold to you and doesn't even have values outside Ploutos website.

And what if Ploutos website is shut down by the government? Is your 100 Ploutos coins still valuable? The answer is plain and big NO.

If we compare ploutos to Bitcoin and assume that Bitcoin is shut down, which is by the way since it is decentralized, no one can really shut it down, but governments can control the Bitcoin exchange operating in their jurisdiction in order to try to control it but that won't stop it. But for the sake of comparison, let's grant it happens, now what happens to your bitcoins? Is it still valuable? Very big YES because you can buy stuffs online using them, and also, you can exchange them to overseas Bitcoin exchange if your country shuts down your local Bitcoin exchange.

And that, my friends especially in Cagayan de Oro City and in Mindanao who has invested in Ploutos Coins is the answer WHY PLOUTOS IS NOT BETTER AND NOT EVEN CLOSE TO BITCOIN AND NOT EVEN QUALIFIED TO BE CALLED A CRYPTO CURRENCY.