I was introduced to Torquebot, yet another one of the many platforms where a bot trades for you. My initial thoughts of it was one of those scams. This changed once I had a chance to listen to one of the community members speak about the vision and mission of the platform.
In essence, Torque is a platform known for its daily trading profits. They primarily gain such profits via arbitrage and trading cryptocurrency. You just deposit 0.02 BTC, 1 ETh, 4 LTC or 250 USDT and meeting any of these requirements would allow you to earn up to 1% every week with profits being paid out daily. Sounds awesome, right? It is.
However, the platform does not pay you in Bitcoin, Ethereum, Litecoin, or USDT despite you depositing any of the aforementioned cryptos. The platform pays out in its token called TORQ. This is a problem because, at present, TORQ is valued at $0.05. What if the owners of the platform decide to devalue its token? Technically, they could pay you the same set value of rewards and devalue your token until its worth nothing. This is very much similar to projects such as Dropil where its token, DROP is practically worthless at this point in time.
It wasn't until I was invited to one of their many frequent sessions on Zoom that I was told that TORQ is in fact an ERC-20 Stablecoin pegged at $0.05. Now that's a relief. At least I can be sure that it's not going to drop 90% in value in one night. Plus, it's not just pegged, the company is audited by another company. This is good since this also means that there is some form of accountability on their holdings unlike a particular Stablecoin being investigated, you know, the one that rhymes with "mother". As for the audit on Torque, you can read all about it here.
I think what got me on board was really hearing the community members and the CEO of the company speak. Its good to hear that they don't bombard you with idealistic cryptocurrency dreams nor dreams of owning a Lamborghini. The pitch is simple, they are here to offer a service, an ecosystem so that they can become a Fintech company with a strong user base. In fact, their goals are not that different from other players in the region such as Grab (our version of Uber).
Plus, they have a very active community and frequent Zoom sessions to answer any questions. That in my opinion shows that they are transparent with their goals as well as how it can benefit you in the long run.
Well, I guess you know where I stand with regards to Troque. I like that I get to earn a solid 1% on holding my Bitcoin and Ethereum on their platform every week. I like that they are paying me in their Stablecoin. I don't really like the whole affiliate approach where the more people you get on the platform, the more you earn. However, that dislike is more of because I'm not very good at it than a red flag. From a business point of view, it makes sense, if you want more people to buy in, what better way than through word of mouth?
As such, if you are looking for a reliable wallet that can earn you some nice passive income, do sign up here. It's my affiliate link, feel free to use it and if you do, it will be highly appreciated! Hope this has been useful, do let me know if you have any questions in the comments below.
Their Facebook page : https://www.facebook.com/groups/torquecapitalist
My affiliate link : https://torquebot.net/welcome/register?ref_code=688051239
