What is DeusCoin (DEUS) Crypto Beginner’s Guide
With all the different types of cryptocurrency on the current crypto exchanges, it is no wonder many would feel a lot of uncertainty towards new cryptocurrencies. Many altcoins and projects have proven to be scams in the past for whatever reason or simply failed to uphold their goals for their project.
This can leave some investors feeling frustrated and many who are new to cryptocurrency feeling a bit jaded by their monetary losses. While there are many communities open to shedding some light on many crypto scams there are still a few that manage to slip through the cracks.
A bigger flaw in many new cryptocurrencies is promising too much for investors and users in such a short amount of time. Bitcoin took a while to build itself for many reasons but as a result of all their years, they earned the right to call themselves the top cryptocurrency investment.
People often criticize Bitcoin’s slowness to innovation which gave rise to Statis, Ethereum and many other cryptocurrency developing platforms. Along with these platforms came many poorly thought out projects, ICOs, and scams.
How can one really be sure they are investing into a worthy altcoin? Is it really possible to judge too early and miss the boat on a worthwhile investment? When it comes to investing in cryptocurrency you must be willing to take risks. For verifying a cryptocurrency it is as simple as checking its whitepaper and the news surrounding it. However, this isn’t always the case.
A great example of an unverifiable cryptocurrency is DeusCoin.
DeusCoin: Attempting to Bridge The Past, Present, and Future of Cryptocurrency
Made by a Malaysia-based company, DeusCoin offers users a fast transaction platform. Like with many other break offs of Bitcoin, this altcoin has also made it their focus to provide a secure and anonymous platform for all peer to peer transactions.
This isn’t their only goals though. They plan to introduce many other innovations to their platform over the course of five years. Whether they will succeed in this or not only time will tell.
How Does DeusCoin Work?
From DeusCoin’s website, they state they use a peer to peer electronic cash network all based on the blockchain technology and cryptographic programming. They offer an open source platform with hopes of making further additions in the form of applications and add-ons.
Is DeusCoin a Scam?
Seeing as this cryptocurrency is fairly new it is hard to say what will be in store for it. It has many goals for the cryptocurrency while still maintaining its major function as a fast transaction system. Due to its poor advertising, lack of sufficient news and data, and other important pieces of information, it is definitely a cryptocurrency that is definitely worth being hesitant with.
While the DeusCoin team tout many positive gains and other incentives of DeusCoin such as being faster in innovation than Bitcoin, it is still unreliable in the fact that you can’t figure out what their main goals are for the project. This lack of clarity is a real red flag when it comes to investing in any cryptocurrency.
To put it bluntly, DeusCoin talks the talk but it has left many unsure on whether it can really walk the walk into becoming the next big investment cryptocurrency.
Final Thoughts on DeusCoin
DeusCoin definitely has an image issue it needs to resolve if it ever hopes to become a successful peer to peer financial platform. While it does offer a lot of potential for innovation and fast investment, it doesn’t give enough clear goals to make it a worthy investment option compared to other altcoins on the market.