The Fargocoin cryptocurrency, developed by the American company Befargo LTD in early 2017, is a very interesting undertaking at the intersection of cryptocurrencies and network marketing. And not only interesting, but also popular.
In general, in this review we will talk about Fargocoin and answer whether it is worth buying it.
As of May 2018, the Fargocoin exchange rate against the dollar is almost $ 9, the volume of trading on the exchange is 1.8 million dollars.
The Fargocoin organizers do not particularly say anything about the cryptocurrency itself, they only say:
Fargocoin is a unique cryptocurrency designed to increase network security and fix the limitations and functionality of the original cryptocurrencies such as bitcoin. Fargocoin offers everyone, without using huge powers, the opportunity to earn Fargocoin coins.
Actually, the POS technology just allows you to earn cryptocurrencies created using this technology (including Fargokoin) to the owners of these cryptocurrencies. That is, when mining, the next coin goes to the owner of the wallet in direct proportion to the presence of coins in it. For example, you have 100 fargocoins in your wallet, and there are a million of them in total, which means that with a probability of 1 / 10,000 the next mined coin will be in your wallet. Therefore, the more Fargocoin you have in your wallet, the higher the earning rate.
Ways to earn money on the Fargocoin cryptocurrency
Before you make money on Fargokoin, you need to buy them. You can do this in 2 ways:
- Through the cryptocurrency exchange at the rate stated above
- In your personal account https://befargo.com using different payment systems
Actually, if you decide to buy Fargokoins through the exchange, then you still have to register with Befargo, since only in your personal account befargo.com you can download a cryptocurrency wallet.
It is important to note that when buying Fargocoins through Befargo, you must choose 1 of the standard packages shown in the figure below.
Then, again, you have 2 options:
- Self mining. You just install the wallet (plus an additional file) and wait for new Fargocoins to be added to it. Befargo recommends buying from 500 fargocoins (at the current exchange rate – $ 4,500) in order to have a more or less normal profit.
- Mining in the pool of Befargo. Here, the Fargocoins of all members of the company are combined in one wallet and profits increase. But you are not paid profit regularly, but from split to split (frankly, I did not quite understand what it is, but it happens every 5-6 months and doubles the amount of your Fargokoin coins).
After the split, you can either sell coins, by the way, in your Befargo dashboard there is specifically functionality for this, or put it back and wait for a new split.
Prospects for the development of Fargocoin and Befargo
It is worth noting that Befargo is really well organized. In my memory, this is one of the best MLM projects with cryptocurrencies, if only because most cryptocurrencies in MLM do not go public.
On the other hand, there is a huge selection of cryptocurrencies, which is very small for cryptocurrencies. All this makes the cryptocurrency industry extremely competitive and, in my opinion, Befargo will not be able to succeed in it. In 2018, it will not be able to!
This review of Befargo is finished, follow the news of the project on our website.