What is Veros (VRS) Crypto Beginner’s Guide
Just when you think you have seen it all, the world always has another surprise up its sleeve. Some surprises are great like finding money on the ground or winning the lottery by chance, while others are nightmares like making an investment only to find out it is a total sham.
The cryptocurrency industry has opened many doors for great projects, start-ups, entrepreneurship, and fixing the world one altcoin oriented project at a time. But just like anything in the universe, there is always the dark side to any industry, the cryptocurrency industry is definitely no exception.
It is not unheard of for new and expert cryptocurrency investors to fall into what is called a pump and dump cryptocurrency scam. Basically, this scam is where a project poses itself as something noble or as a worthwhile investment without really giving any clue as to what their real goal is.
Then you have kind-hearted people put their trust and hard-earned money into that altcoin only to see the coin magically disappear with all the money too. Sadly, there isn’t much protection from these sorts of scams unless you are someone who does their research before making a risky investment.
Many online cryptocurrency users are awesome enough to check and verify every single cryptocurrency on the market. To understand what a pump and dump investment scheme looks like you may want to check out Veros and many other altcoin histories. However, while there are honest people out there trying to prevent scams there are also users who want to cash in without facing competition.
So before you invest in something like Veros, do your research and take everything you read with a grain of salt.
Veros: A Modern Day Cryptocurrency Ponzi Scheme or Just Another Buy-in Opportunity
Veros operates on the basis of a massive eight-tier investment/incentive scheme that wants all future investors to invite others into investing their cryptocurrency into the Veros platform. This idea alone has left a bad taste in many cryptocurrency users’ mouths.
While the platform states that it is all about making an investment, it has left many wondering the intentions of making investments with no real profit or perks in return.
How Does Veros Work?
Veros supposedly works by giving people a system of investment into their project. There are eight tiers where one raises their tier the more money they invest.
Basically, to simply show just how terrible this scheme is, here are the Veros “investment tiers”:
- Intro: 5 percent matched volume (capped at 2,000 euros a week)
- Starter: 6 percent matched volume (capped at 5,000 euros a week)
- Elementary: 8 percent matched volume (capped at 7,500 euros a week)
- Apprentice: 8 percent matched volume (capped at 10,000 euros a week)
- Business: 10 percent matched volume (capped at 15,000 euros a week)
- Professional: 12 percent matched volume (capped at 25,000 euros a week)
- Premium: 12 percent matched volume (capped at 30,000 euros a week)
- Elite: 12 percent matched volume (capped at 35,000 euros a week)
The whole payout is supposed to give investors a paid percentage of Veros tokens for their investments. Since Veros has no current currency exchange trades with reliable cryptocurrencies such as Bitcoin or Ethereum, it is safe to assume this isn’t a very good investment project. Or at the very least, not an honest one.
Is Veros Really a Scam?
The major issues that many cryptocurrency users and project owners have with Veros lie with its creator, it bizarre investment scheme, and lack of reliable data to confirm the project’s genuine nature. The creator of Veros, Mr. Michael Juul, has already been involved in a past cryptocurrency scam with his other business called GII Corp.
Add in the lack of exchange rates for Veros into other cryptocurrencies, lack of products and services, and lack of insight into Veros’s intended goals all spells nothing but disaster. The only thing offered by this cryptocurrency and its platform is incentives to throw away money into another bottomless cryptocurrency pit.
It is safe to say that if users want to buy into this get rich quick scheme you may want to do so at your own risk or choose another more reliable cryptocurrency.
Final Thoughts on Veros
This is definitely not a good investment for anyone who is new to cryptocurrency. It plays on one of the typical pump and dump schemes that have sadly become common in the cryptocurrency industry. While Veros gives people the promise of a worthy investment it does not hold up to those claims in any way, shape or form.