Update: Envion.org has collaborated with another shady Cryptocurrency trading platform called HitBTC. Beware.
This Envion review will let you know about the ICO or token sale offered by this platform. Should you invest or avoid Envion because it’s seemingly a scam?
You see, am a fun of disruptive technology. So when I reviewed Crypterium a while ago, many people asked me to do the same with Envion ICO.
I can tell from the number of emails which I have received that there’s a huge public interest concerning the highly controversial Envion ICO.
I decided to carefully analyze and even listening to folks gossiping about Envion ICO on various BicoinTalk.org threads.
I came to learn that people were raising serious concerns about the project and its viability. I believe these issues are critical to discuss since they concern people who would like to commit their investments to ICOs like Envion’s EVN Token.
The good news is, I’m going to carefully tackle those issues in this Envion review.
In this Envion review, I will be discussing essential things that every investor should be aware of before signing up.
You can also join my students to learn how to invest in Cryptocurrencies here.
Am essentially asking the following questions:
Should you join Envion ICO as an early adopter, or should you just brush it aside as any other investment scam?
It’s often said that early adopters make the most money out of a project. Does that mean that jumping on board every other ICO is a wise move? I doubt.
Is the business model sustainable in the long-term? Does the founder(s) have a clear plan of action.
And finally, can real people like me and you make money from the value of EVN Token a few months from now when it gets listed at major Crypto exchanges (hopefully)?
Note: To learn how to store your Bitcoins safely and make them impossible to hack, read this post.
Envion Review ICO: Scam or not?
We all know that when something looks like a scam, there is a 0.00001% chance that it will turn out to be a legitimate opportunity.
Am not saying that Envion is a scam. What am saying here is that several people have raised serious questions and concerns with relation to the legitimacy of this project.
I have carefully reviewed the whitepaper and found that it has a seemingly sensible timeline and road map.
In the whitepaper, the company claims that their activities started in 2015 when they installed first-gen mining units.
First-forward to 2017, installation was complete. They focused their mining in all environments.
In December 15th, they launched EVN Token pre-sale.
In December 17th, they launched their first crowd sale (which is still on as at the time of writing this Envion review).
In mid-January 2018, the company will be looking to list EVN Token with world-wide Cryptocurrency exchanges.
But that will mean that EVN is doing okay like any other coin in those platforms. I can’t tell for now because Envion is still making me ask many questions about their legitimacy.
Moving forward, this company is anticipating to embark on MMU mass production in the Spring of 2018.
Assuming that this process goes smoothly as planned, the ”early adopters” will receive 100% of the earnings of the company’s proprietary mining operation.
According to the whitepaper, 75% payouts will be issued immediately. The other 25% will be re-invested to boost Envion’s future operations.
The EVN ICO project is conducted under the umbrella of Envion which prides itself as the first ever mobile mining solution targeting various natural sources of energy.
The current token issue volume is 150 million. Any token that doesn’t get distributed won’t be generated.
The current price of a Token is $1. But investors can purchase with discounts starting at $0.7 per Token.
Envion accepts investors from all countries with the exception of those from the United States and Germany.
Nonetheless, it is highly ironical that this website is very popular in the US than in any other country in the world.
This is an indication that the site owner is heavily marketing to a US audience– the very same investors which their white paper says are not accepted.
This could merely happen by coincidence because when you put a site out there in the internet’s wild, you somehow have little control over who visits it and who does not.
But again, this doesn’t rule out the possibility that Envion is really working hard to attract a US audience.
To find out whether Envion is a scam or not, we need to look at other indicators such as the owner’s details, his qualifications and that of his team members, his long-term plans, facts and so on.
Envion Review ICO
Details of the company and people who work for envion
The domain Envion.org is registered to someone called Matthias Woestmann, a journalist by profession who has worked with German Public TV-Network as a reporter since the early 90s.
The real company’s name is Envion AG operating out of Berlin. At the same time, there is a company by the same name which operates in Berlin too — although these two are not related in anyway.
The German company we’re talking about can be found on this domain.
I wonder how Envion could literally copy-paste the name of this company and still escape lawsuits.
Also, the domain is barely 4 months old. But it’s already receiving heavy traffic as if it has existed for years.
While there is nothing wrong with the surge in traffic numbers, I take it as a hint that this site has attracted an extremely huge number of would-be ICO investors on the web.
Secondly, Matthias Woestmann is the Founder of Quadrat-capital.com, a company that focuses on private investment holding with special attention to fossil and renewable energy.
This has led some people to believe that Matthias Woestmann has a solid plan, an excellent white paper and a transparent roadmap.
Does this mean that Envion is a good project to invest in? Absolutely not.
The first thing I have noticed in the whitepaper is that the company doesn’t have a solid and comprehensive risk analysis plan.
Any company that launches a Token sale (because Crypto token sale is big news now) is not necessarily scam.
But if they lack clear explanations in these areas, one may need to hold on a little bit until the company releases a clear, transparent plan that explains how they will deal with both foreseeable and unforeseeable risks.
And when I talk of risks here, I mean risks that would come from the perspective of financial, sustainability, scale-ability, technical, operational, and regulatory elements of such a business.
Once the company is done with providing an overview of each one of these risks, I will expect them to provide a comprehensive mitigation strategy for each.
Am I asking for too much? Maybe yes, maybe not. But before investing any significant amount of money in an ICO, I have to ask myself those questions first.
It’s called due diligence, and if you don’t have time for this, you will lose money.
That aside, I noticed that information on their homepage wasn’t matching that on their members’ linkedin profiles and company whitepaper respectively.
Two team members have stated on the website that they have more experience than what can actually be seen on their Linkedin profiles.
I don’t see any reason why someone would state what is not correct on the homepage and then say the truth on their Linkedin profile. It’s strange.
Envion Legit or Scam?
The real issues
The maximum Token volume is 150 million. 83% will be issued to Token holders i.e. people who will buy them during this ICO phase or those who will obtain the coins at exchanges in January 2018.
Now, 5% will go to the reserve. But in the event that all Tokens are sold out (the 83%) and investors end up holding for, let’s say 5 years from now, how does Envion plan to pay out the planned161% annual ROI if only 5% is remaining in their reserve?
Also, there’s the rumor that Ethereum will move from the current Proof of work concept to Proof of Stake very soon.
This essentially means that you will only be able to mine Ethereum that is equal to that which you own.
If you own 2% Ethereum for example, then it means you can’t mind beyond the 2% mark.
It will also mean that users with the most amount of Ethereum will have the most decision-making abilities when it comes to implementing economic and technical changes on the network.
Eventually, it will create a capitalistic/monopolistic environment where only a few people will be able to conduct Ethereum mining operations to their advantage.
Ultimately, mining Ethereum will be virtually impossible.
Already places like China and Iceland are saturated with factories, power plants, and pop-up units (like those of Ethereum) for mining Cryptocurrencies. This competition leaves very few Cryptocurrencies which can be mined for profit, factoring in the current price.
With that said, let’s see the projected rate of returns below:
Does the projected returns look too good to be true? Definitely.
Isn’t this the same thing I have been warning in many reviews here? Absolutely yes.
So figure it out on your own and remember that when something is too good to be true, it will definitely end up causing pain for the victims.
My best advice for you
So there it is. You’ve just read my thoughts and observations in this Envion review.
My best advice is this: wait and see where this will go. Don’t invest your money in Envion ICO yet. There is no reason to panic or even thinking that Envion Token holders will become millionaires in a couple of months from now. They won’t. So just relax and save your money. But if you want to put a portion of that money to work, mine Crytocurrencies here.