Hi guys,
I am sure many of you heard about the new ICO called Plexcoin.
There was a lot of social media coverage about them as they went with a different approach than other ICO's. They focused very well on Facebook ads and gathered over 100.000 members on their pre-launch campaign.
I thought I would test it out and purchased roughly 1000 Plexcoins as the initial coin offering started.
I followed the reddit discussions about them and many people think it is a scam based on an article of a previous scammer.
You can find the article on the web for more details.
I was able to purchase among the first 1000 people using a credit card, which was surprising for an ICO.
Many people said that they were not able to purchase using a Credit / Debit card.
After that, the CC payment option was taken down, but PayPal was added. They received a lot of payments and PayPal placed their account on hold for verification. They realized that PP does not accept crypto payments and therefore refunded all the clients that purchased via PP. This is a good step towards gaining credibility.
At the moment you can purchase via Bitcoin, Ethereum and Litecoin, but they promised a new payment method for CC / DC holders.
The whitepaper is pretty ambiguous and lacks the team details. It is mainly based on their prediction of how the coin will evolve in the future, but it leaves out many important details.
They also offer a full-refund to anyone during the pre-sale period, or at least that is what they claim.
I am still unsure what to think as this is my first ICO participation. I thought I would try it and see how it goes. Will keep you updated with what happens next.
I thought I would do a mini-series of articles regarding this experience and see how this evolves.
Good luck to everyone that took a leap of faith in this new ICO.
Still uncertain about the future of Plexcoin, but I will see where this is heading.