ICO Review: HoweyCoins

Just imagine: I am a newbie in the world of crypto but I’m already overexcited about the opportunities it brings. I wanna INVEST. That’s right, in capitals. I have an urge to invest all the money I have in any project I find.

Am I kidding? I wish I was, but there are so many people like this online. Hope you are subscribed to my channel, so you already know that blind investing will never work. You need to be smart and thoughtful in order to avoid any kind of trouble and get a chance of a profit.

Probably I am not the only person who is concerned about your money and reputation. The guys from SEC decided to create a fake ICO called HoweyCoins which would represent all the typical scamming projects. Well, let’s take a look at what we have in here and see if it’s really that bad.

The working website looks a bit sh*tty and uses significant energy, which can be the first warning for you. But what about the content on the website?

HoweyCoins are officially registered with the U.S. government;

HoweyCoins will trade on an SEC-compliant exchange where you can buy and sell them for profit - Main page of the HoweyCoins website

Well, this is the second one: SEC-compliant exchange? Seriously? Maybe in the parallel universe or some kind of a perfect reality. But not here and now, in the real world.

And in general, the language used within the website is a huge red flag for the potential contributors. Just take a look:

HoweyCoins is the newest and only coin offering that captures the magic of coin trading profits AND the excitement and guaranteed returns. We anticipate OVER 1% daily returns, with DOUBLE 2% returns on Tier 1 investors in pre-ICO stage secured purchases.

Quick reminder: no ICO can guarantee you that it will be profitable and you will receive great returns in the nearest time. Wait, not only in the nearest time, EVER. As soon as you see something like “guarantee of the profit”, “100% investment returns” or “immediate gains”, get out of that place.

Next, let’s scroll down a bit where we can find the masterpiece of the SEC employees - eight-page White Paper. I truly respect these guys who went to the trouble of creating a more or less good-looking document and even added some statistics there. However, if we want to evaluate this piece from the point of view of a potential investor, it doesn’t make sense at all. And I’m not only speaking about the length now but more about the lack of business model, monetization schemes, any mention of the MVP or a roadmap.

Moving on? My favorite part is the team. Take a look at this cheerful guys! They look so nice and positive! But there is one “little” problem - all of them are fake and even some simple primary googling proves that.

And the icing on the cake of a HoweyCoins landing page is testimonials and celebrities endorsement. I am pretty sure that if you see them, guys, you’ll start laughing out loud and making screenshots for your crypto-buddies.

My overall impression of the ICO is the following:

Verdict:

1 SEC regulator out of 10

But 10 out of 10 for the idea and creativity! (seriously, I’m in love with their solution)

Huge respect to the guys from SEC for creating this HoweyCoins ICO. As for me, it’s a great example and learning experience.