Is Teno Coin a safe and legitimate business to invest upon? Well, we shall find out in this blog here.
Keep reading!
What is Teno Coin?
Teno Coin is a kind of Cryptocurrency that allows you options of lending as well as stalking. The money you have invested is locked for a certain period and will be provided higher interest rates in return.
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The Working of Teno Coin
Teno Coin claims they will provide an interest rate of up to 55.8 % per month through their lending schemes. There is no other policy to date, which offers you a higher rate of interest than this. But it’s still not clear how much money can one make through the Teno Coin staking.
At present, Teno Coins do not have any products or services. The only thing they have is an internal exchange. The development team of Teno Coin claims that the coin will gain a market value of $200 by the end of the year 2019. But the result has not seen many positive changes. Well, let’s wait and watch.
Teno Coin Token ICO Details
The Teno Coin (TNC) ICO was conducted from January 1 to February 1, 2018. They were offering 1,00,000 Teno coins every six hours till the end period of ICO. A referral bonus of 5% was also given. It implies that if someone buys the Teno Coin through your referral, then you will be eligible for 5 % of the value of the purchase made by the other one. Tokens were charged between $0.50 and $1.35.
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Teno Coin Features
Open Source Software
Teno Coin is open-source software, which means that it can be shared, modified or run by the public. Or in other words, its design is accessible to the public. The Teno Coin software is released under the license of MIT/X11.
Security
The platform is highly secured with multiple Cryptographic encryption techniques. The wallet is highly secured. Hence there is no need to worry about the safety of the Teno coins you have in your kitty!
Blockchain
The Blockchain platform provided by the Teno Coin is one that can handle higher transaction volume than the Bitcoin provided Blockchain. In the case of Bitcoin-based Blockchain, the chances of frequent block generation are high. But the Teno Coin network supports a higher number of transactions and is hence more efficient.
Mining Reward
Teno Coin miners are provided a mining reward of up to 50 Teno Coins per block. It gets halved every 1.2 million blocks.
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Teno Lending Plan
Teno Coin provides higher interest rates through its lending program, which may confuse some people about the credibility of Teno Coin. Well, the plans offered by them are given below:
$100 to $1,000: the 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
The Team Behind Teno Coin TNC?
The company or group of people behind the Teno Coin TNC has not disclosed any information regarding them. Neither their team information, location, etc. Their whitepaper, as well as the website, do not provide any contact information.
This policy creates a doubt in the mind of the person who is planning to invest in the Teno Coin. There are chances where you could be scammed. Think twice before investing in Teno Coins.
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Conclusion
Teno Coin looks like another online Crypto scam similar to the ones that we have seen recently — like Davorcoin and Bitconnect. Teno Coin has no products or services to offer in return for the money invested by the customers. The base price of the Teno Coin is now fixed as One US Dollar.
The company claims it would achieve a market price of 200 US Dollars very soon, which seems like a long distant dream as of now. They offer a higher rate of interest for investing your money in the Teno Coins (up to 58%).
On an ending note, there is nothing that proves the loyalty of the Teno Coin lending program, either in the whitepaper or on its website. It’s better to stay away from the Teno Coin lending scheme.