In this post, I reviewed Zeniq coin, a product of Zeniq technologies.
Zeniq technologies is a Dubai-based company that provides Fintech and blockchain solutions.
I saw the advert for the coin on a billboard while walking the streets of Port Harcourt.
So, I did my research on it and I have shared my findings here.
Read to the end to know whether you will buy this coin or not.
- Overview of Zeniq Technologies
- Features Of Zeniq Technologies
- Is Zeniq Coin A Good Investment?
Click on any item above to read its details immediately.
1. Overview of Zeniq Technologies
Zeniq technologies is a blockchain ecosystem for finance and investments.
According to the information on its website, a team of crypto and fintech enthusiasts founded the platform in 2018.
Mag. Erwin Dokter (CEO), Dr. Michael Ofner (COO), and Solaiman Al Rifai (MD) were listed as the directors.
Zeniq focuses on creating products that are based on fintech and blockchain technology.
Then it distributes these products globally with the help of selected partners.
Also, it aims at building high-level security for its users.
It achieves these through its different features.
Let’s look at the features of this platform in the next section.
2. Features Of Zeniq Technologies
a. Zeniq Hub
The hub is concerned with tokenizing assets.
Also, it organizes initial offerings for these tokenized assets.
Additionally, it provides secure storage for digital assets.
And users have full control of their assets in the hub.
To access the hub, you will buy it from Zeniq’s distribution partner – Safir network.
b. Zeniq App
This is the mobile app of the platform.
It allows users to make fiat and crypto payments.
Sometimes, the app is referred to as Zeniq Pay.
It supports both business and peer-to-peer transactions.
Also, it was designed to facilitate payments in any online shop/marketplace, POS, and ATM.
c. Zeniq Exchange
As you’d guess, this feature will enable the trade of cryptos on the Zeniq platform.
It is a decentralized exchange so users will enjoy some privacy.
Additionally, it charges low fees, offers the best exchange rates, and charges no Wire transfer fee.
The Zeniq exchange is yet to launch though.
Following the company’s roadmap, it will launch in the first quarter of 2023.
d. Zeniq Blockchain
This blockchain is what the Zeniq platform uses to achieve security.
Sadly, I couldn’t find proof of its existence.
e. Zeniq Coin
Needless to say, this is the native coin that powers the Zeniq platform.
The coin was created in July 2020 to reward users who have bought the Zeniq hub.
Also, it is stated on the website that only 1% of the coin will be mined; the rest 99% will be minted.
However, the total supply of the coin or any other relevant tokenomics was not mentioned.
But you’d have to buy the Hub to receive Zeniq coins (the number of coins you’ll get upon purchase was not specified).
This coin is also used to purchase products on the Zeniq platform.
So, should you invest in this coin?
See what I think in the next section.
3. Is Zeniq Coin A Good Investment?
I doubt it is.
First, the project behind the coin is not authentic enough.
When you go through the Zeniq website, you’ll see that it is full of empty promises.
It’s like they want to use grammar to cover up their lack of substance.
Secondly, the means of getting the coin is questionable
You’d have to buy the hub first and it cost 1,499 Euros. Outrageous!
After which, the hub will now mint the Zeniq coins daily like 2 coins per day.
And to think that you will not find this information on the website is worrisome.
I had to listen to a Whatsapp voice note from one of their facilitators in Nigeria to know this.
According to him, a hub is a block of the Zeniq blockchain.
When you purchase it from the Safir network, you send it to the Zeniq hardware (which is like an iPad) and it starts minting the coins.
Okay, what then can you do with the Zeniq coins, or what profit will it fetch you?
Unfortunately, I can’t assure you of any.
Although the facilitator predicted that Zeniq coin will do 2,000% in 5 years, I totally disagree because I don’t see any potential here.
Also, he mentioned that Zeniq has partnerships with big banks and the support of the royal family in Dubai, but this too does not hold water.
He added that Zeniq coin holders will have a part in the shares of the companies that will adopt the Zeniq technology.
And so, he is convinced that Zeniq coin holders will be millionaires in dollars in the next few years, yet I cannot see how.
Because when we can’t prove the existence of the blockchain, how will the adoption occur?
Another reason why I can’t be swayed by the partnerships is that I read a memo by DFSA that Zeniq is not licensed to carry out financial activities.
So, the partners may be there for a different reason.
Then I searched for the Zeniq coin on Coinmarketcap and I didn’t find it. Oops!
Even, on Uniswap and Pancakeswap where the coin is supposedly listed, you’ll be strictly warned when you try to trade it.
Have a look:
Not just that, the BSC address of the coin was also found on 6 other chains.
Yet they claim to be an innovative technology. mtcheew😒
And why bug the Ethereum and BSC chains; in the real sense, shouldn’t the coin be hosted on the Zeniq blockchain? 🤷♀️
Remember the App was allegedly designed to facilitate digital payments in online shops.
Well, I downloaded the app and it is crap. No offence!
Also, there’s nothing on the menu of the app that enables the linking of POS and the likes.
See for yourself:
Again, I believe that the team members on the Zeniq website are actors.
I couldn’t find them on relevant sites apart from online accounts belonging to Zeniq.
Even, the named CEO happens to be the CEO of the supposed certified distribution company for Zeniq Hub – Safir.
But they made it look like a form of authentication for Zeniq. E choke!
Where do these thoughts leave us?
To be honest, the Zeniq coin reminds me of The Billion Coin, which was tactically used to siphon money from people.
They come with promises of huge returns but in the end, they leave investors penniless.
For crying out loud, why would you ask me to pay 1,499 Euros to get your coin?
That’s over 705,981.96 in Nigerian Naira. 🙄
To what end? A hopeless 2,000% increase in 5 years? No way!
Moreover, no useful information on the coin’s tokenomics was found on the website.
And as for use cases, I can’t lay hold on anything tangible.
It’s almost like they copied ideas from different projects and packed them together.
Please, don’t waste even your spare money on this coin.
This is where we’ll draw the drapes in this review of the Zeniq coin.
From what we have discussed, this project is a scam.
Don’t be fooled by the tech jargon on its website like fintech, hardware, security, privacy, blockchain, IBAN link, blah, blah, blah.
All is fake!
But don’t just take my word for it, DYOR and draw your conclusion.
Meanwhile, let me know what you think of this coin in the comments section.
Also, share this article with your friends, thank you!