Forzacoin ICO Review- Is it a Scam?

[bitcoininvestor]

The Forzacoin ICO is currently going on with 3.5 million out of a total of 5.5 million coins already sold.

What is Forzacoin?
https://forzacoin.co/partner=danbitcoin12@gmail.com
They're creating a new decentralized cryptocurrency that you'll be able to use to make payment for goods and services or to transfer funds to friends and family, it will work similar to how Bitcoin works. However the main aspect that will interest investors if their lending platform which claims to be able to offer high rates of interest of up to 2.5% per day.

The rise of cryptocurrency and ICOs

The crypto market has grown massively this year, bitcoin still leads the way after rising to over $7000 coin. However many other currencies such as Ethereum have also had a great year.
Many projects in the crypto space now launch via an ICO (initial coin offering), this has quickly gained popularity among start ups as a popular way to raise funds and is preferred to many over more traditional methods of funding. By offering their coins for sale at discounted rates to investors they're able to raise the initial funds that they need to start their platform.

Cryptocurrency lending platforms

The rise in crypto has seen many different industries enter the market. One of the most successful so far has been lending platforms. These platforms claim to make money by trading the bitcoin and cryptocurrency markets and in return for lending them money they offer investors high rates of interest.
The most successful so far has been Bitconnect which has grown from $0.5 per coin to well over $250, giving investors a gain of over 500x. Other projects have since launched that are similar with Regalcoin becoming their main competitor, their coin price quickly rose from being available for less than $1 during their ICO to a current price of over $70 per coin.

How does Forzacoin work?

They're hoping to become the next popular lending platform. They claim to utilize bots that trade the markets and make profits based on the volatility of bitcoin and other cryptocurrencies, in return for lending them money they offer high interest rates.

Lending platform

The new lending platform will go live once the ICO is complete. Interest from any loans you make will be paid directly into your wallet every day. They state on their website that they'll offer investors the choice of 5 different options:

$100-$1,000: Users receive 1.25% interest per day with their capital returned after 84 days.
$1,001-$5,000: Users receive 1.45% interest per day with their capital returned after 77 days.
$5,001-$10,000: Users receive 1.65% interest per day with an extra bonus of 1.25% per week. Capital is returned after 70 days.
$10,001-$50,000: Users receive 1.95% interest per day with an extra bonus of 1.45% per week. Capital is returned after 63 days.
$50,001-$200,000: Users receive 2.25% interest per day with an extra bonus of 1.65% per week. Capital is returned after 56 days.

Forzacoin ICO Details

The ICO has already been running for 5 days with the price currently set at $0.8 per coin, the price will rise as more coins are sold. There's just 4 days left until the sale ends.

Conclusion

All ICOs are highly risky, especially lending platforms. However I personally view them as a good calculated risk due to the huge rise in price of bitconnect and Regalcoin. Investing a small amount can often see large gains as soon as the coins are listed on an exchange, as soon as investors think that their lending platform may be legit they're sure to be interested in buying coins.
Signing up with my link below will grant you instant access to the platform:
https://forzacoin.co/partner=danbitcoin12@gmail.com