Tech Coin ICO by USI Tech – Scam or Legit?

Tech Coin (TechCoin) is the new ICO from a company called USI Tech.

Today I’m taking a closer look at Tech Coin, to see what it offers and whether it’s worth your time.

Before I start..

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Tech Coin ICO by USI Tech - Scam or Legit? 9

Tech Coin ICO Review

So the question we must ask, “is Tech Coin a legitimate ICO or another scam?” – It’s a question that absolutely MUST be asked after the recent news from USI Tech that they have closed their USA/Canada operations.

A couple of days ago an announcement rocked the USI community when members logged into their back office to find that if they were from the US/Canada they could no longer participate as affiliates or customers of USI Tech.

This is no doubt going to have lasting complications for the company.

Tech Coin ICO

Whilst I will admit that I don’t have all the details regarding why this has happened, I know that there has been a lot of talk on social media about SEC intervention with USI Tech.

I cannot confirm whether this is actually true or not, it COULD just be rumour, however it seems strange that they would launch their ICO Tech Coin at this time. Surely they would wait until the dust settles on the current issues they are facing before going and launching their ICO.

That being said, a similar company BitConnect is launching another ICO known as BitConnect X whilst also facing similar issues.

I would personally be very cautious about investing in the Tech Coin ICO right now with everything going on, however I will share more details on what is actually on offer with Tech Coin below.

What Is The Tech Coin ICO?

After reading through the white paper for the Tech Coin ICO I can see that they are offering a bunch of things. This is not an ICO that is solving 1 problem, or focusing on 1 thing. This is in my opinion a “jack of all trades” ICO that is going after multiple things as I will list below.

Here is what they are offering:

Tech Coin ICO offering

The image above shows what Tech Coin is all about.

  • TechCoin Payent Gateway
  • TechCoin Marketplace
  • TechCoin Mining
  • TechCoin Wallet
  • Block Explorer
  • Cashless Payments / Debit Card
  • USI Exchange

In their white paper they have made comparisons between their own Tech Coin exchange and others such as Bitfinex.

They also claim that their Tech Coin blockchain protocol can handle transactions far quicker than Bitcoin and Ethereum boasting incredible speeds. They also state that they are decentralised and private transactions.

Despite stating this, they have not actually said that they are a privacy coin.

I am not going to cover every aspect of what they are offering however I will cover a few things that I find interesting.

Tech Coin Payments / Debit Card

One thing that I am curious about is how they will implement a payment card such as a debit card since in the past few days VISA has basically cut ties with anything to do with cryptocurrency and e-money. I will be extremely interested to know how they plan on implementing a payment solution with a debit card.

Perhaps they will use MasterCard instead of VISA. But one thing for sure is it won’t be easy to do and they will be met with more issues when trying to implement this I am sure. After all when you really think about it, VISA is a network that processes transactions for banks and cryptocurrency is looking to take that away.

I can completely see why VISA wants nothing to do with cryptocurrency when it literally threatens their own business.

Potential Issues With Tech Coin

After reading through their white paper I did notice a few things which confused me.

First off, a statement in their white paper states that Tech Coin is available on 85% of the worlds exchanges. I am not sure why they would state this when Tech Coin is literally not available on any exchanges currently. As with any new ICO the whole point of the ICO is that it’s an initial coin offering and is NOT readily available to be exchanged anywhere.

Usually after a period of months a coin will be listed on an exchange and then other exchanges will follow. Often brand new coins will only be listed on 1 exchange before other exchanges also list the coin. It’s not always the case and other coins do vary but I am not sure why Tech Coin states they are listed on 85% of exchanges already.

Tech Coin ICO by USI Tech - Scam or Legit? 10

ALSO – Reading through the white paper I noticed a number of spelling mistakes. Whilst this might not be a big deal to some people I think when you are launching an ICO and potentially attracting millions worth of investment you should make sure things are checked to present yourself in a professional manner.

Is Tech Coin A “Jack Of All Trades” ICO?

In the last few months I have read a lot of white papers for various ICO’s that I have been interested in investing in. One thing I noticed with the majority of these ICO’s is that they focus on a core offering / solution.

I feel that with the Tech Coin ICO they are trying to do too many things. They are offering about a dozen different things from an exchange, to a protocol, to a payment solution and a marketplace. It makes me wonder how they will deliver on all of these projects when they are literally offering so many things.

Wouldn’t it have been better if Tech Coin just focused on 1 core thing such as their exchange, or perhaps their mining operations?

Tech Coin Conclusion

Tech Coin ICO by USI Tech - Scam or Legit? 11I will not be investing in the Tech Coin ICO for the following reasons:

  1. Tech Coin is offering too many things and not focusing on one
  2. I am not confident investing in Tech Coin since USI Tech is having issues

Let me quickly state that the views in this review are MY opinion.

Perhaps Tech Coin will be a huge success and USI will be around for years, but I won’t be investing and I won’t be recommending that anyone else invests either.

Before you leave

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Mark Charles is the founder of NoBSIMReviews and has been making a 6-figure income online for over 10 years.

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