Welcome to my Kok Token Review.
I am going to try and be positive about this but it is basically a clone of the Plus Token and Cloud Token schemes. Both of these were smash hits that created a frenzy of excitement. The key to a smash hit “passive crypto” scheme, is to create a new spin on the ponzi model. People love ponzis because they pay unbeatable returns, the downside is that they always collapse and most people suffer losses. The upside is that savvy people can easily make big gains by exiting the scheme early.
How do I know it is a ponzi? Have you noticed that these schemes always either collapse or rebrand or exit scam? The reason for this is that the advertised returns are not possible using real trading. Real trading always results in losses, but these schemes always seem to make winning trades which allow them to pay massive returns. The trading is always fake, when the returns are higher than 20% per year. Don’t believe me? No program that pays more has ever lasted. I would be happy to admit that I am wrong, but none of these programs ever last. I face a huge backlash when I called Cloud Token a ponzi in April, but I knew that time would be on my side. What was booming in April has stopped allowing people to convert and withdraw their funds. Currently Cloud Token are stringing investors along with meaningless updates like OTC Ribbons, with means nothing if you cannot withdraw. I predict the same trajectory for KokToken, but you will have some time up your sleeve. You have to be smart and admit to your self that it is unsustainable. Most people will fall in love with it and get stuck holding bags of Kok😜.
Here is how all “Super Wallet” ponzi schemes work:
1) Create an Internal “Wallet” Many people don’t understand that a real wallet has several key functions. They allow you to have complete control of your tokens and export them externally. With Koktoken the entire process is controlled internally by Koktoken. It is not a real wallet and does not operate on the blockchain. You would have to wonder why Koktoken does not let you control your funds. You can only withdraw if Koktoken permits you. They do this because they know that they will need to freeze withdrawals. At that point you have lost your investment.
2) Create a Fake Crypto With No Blockchain. When you invest in Koktoken, your back office will show that you now own Koktokens, however this is an illusion. You only are seeing numbers on a screen. If Koktoken agrees to let you exchange back to BTC or Eth, then you can withdraw. If they decide that too much funds are being withdraw, you will not be able to withdraw. This is not how genuine crypto and blockchains work
3) Pay Out High Returns To Holders Of Koktoken. You start seeing your Koktoken go up which is exciting because you can convert it back into a real crypto….for a little while at least.
4) Pay Out Massive Commissions To Promoters As with all these passive crypto schemes, Koktoken has a lucrative MLM comp plan to reward affiliates. This will keep the money coming in.
5) When Deposits Slow Down Start Doing Silly Updates. When deposits slow down Koktoken will have 2 choices: 1) Run Off With Funds or 2) String Investors along with meaningless updates. They do this because they will have stopped allowing withdrawals and you need to convince people to wait for the next amazing update. People will just accept this because they have no choice. When this happens Koktoken will be very close to complete collapse. You can expect to see weird updates like Sim Cards, Koktoken debit cards or new “faster” exchanges coming soon.
There is one reason that all of this silliness will be required:
KokToken Are Doing NO REAL MINING!
KokToken Review – Summary
Key Figures: Dong Seob Hwang.
Product Type: Crypto MLM Ponzi.
Summary: To earn you must invest in the worthless Kok tokens. You can expect to earn from 20% per month which is up to 240% per year.
It is a ponzi, that will run into trouble at around the 6 months mark. I know this because KokToken is not generating any real ROI because they are not doing any real mining.
Verdict: If you like ponzis you could promote this pretty safely for around 4 months. They have an app game called Hotel King which is a neat distraction and allows you to earn returns in addition to “mining”. The ROI funds are really come from new investors so KokToken will collapse.