I had a friend that asked me if I heard of OneCoin, said he was looking into it and one of his friends invested a lot into it. So the first thing I searched for in Google is onecoin and the results then are not much different than the result now in a span of a month. When I told him to Google it himself and read all the articles, he wasn't happy with what he read.
August search results:
June search results:
Out of all the first page listings in Google for OneCoin, only one was for the onecoin.eu's website while the rest were related to recent troubling news about OneCoin.
If that wasn't enough, Wikipedia's entry for OneCoin is fairly damning: https://en.wikipedia.org/wiki/OneCoin
If you search for OneCoin in YouTube, you'll find only promotional videos about how to invest in OneCoin. The big irony is that at these seminars where they sell their so called digital currency, they use a hand symbol for the O in OneCoin. Is the O for OneCoin or is it representative of a zero (0) which is what a lot of websites are implying, you'd probably never be able to withdraw money 'invested' into OneCoin.
Research before you invest
What all of this has taught us is that a little bit of research goes a long way. Anybody that wants to get into Bitcoin or Ethereum should really understand what they are getting into and why. Everything is based on the Blockchain technology and this is the driving force behind these cryptocurrencies. The irony is that OneCoin doesn't even use a blockchain at all and that's been documented by a few sites like this one.
It's easy to see hype and want to be a part of it which is what Bitcoin is doing now that it's cracked $4000 USD in price. As much as I think buying BTC and ETH are good ideas, I think it's not a good idea to do it without research. At some point in time if these cryptocurrencies become a normal means of exchanging value, people should at least understand why they are being used and how blockchain works. This article shows all the connections of the companies:
On that article as well there is mention of CoinVegas which is a casino that seemingly promotes gambling with OneCoin. The casino games look like they were made in MS paint and they hold a license in Curacao which is probably one of the easiest ones to get and certainly not the most reputable either. At one point the site listed it took US players but doesn't seem to anymore. It shows Bitcoin and Litecoin on the site with OneCoin front and centre.
CoinVegas.eu website now seems to be offline and is listed as under maintenance.
If you want to know what's happening in the world of OneCoin just create a Google Alert so you can find out the daily news.
Still not convinced of OneCoin?
In the meantime if you are still unsure about OneCoin at this point here are a few more articles worth reading: