What are POW Tokens and Is It A Scam?
The developers of the POW Token are airdropping or giving away free POW “Lite” coins to all Facebook and Twitter members. This POW Token review will give you information about the people behind POW Token, what POW “Lite” coins are, why they are doing it, and whether it could be classified as a scam.
Who is behind POW Token?
POW Token was created by five tech industry professionals and launched October 3rd, 2018. Co-founders of POW Token including Simon Wajcenberg, an entrepreneur with 15 plus years of experience online and mobile advertising who is now managing a systematic hedge fund called K1T Capital.
Simon is an entrepreneur with a stellar track record in founding pioneering global digital businesses. He has founded and built numerous successful companies including Stocknet.co.uk, one of the UK’s first online stock brokerages, and Freequotes.co.uk, the UK’s first real-time share price information provider.
Simon is also the creator of TMN plc, an online direct marketing business which was listed on AIM in 2000. In 2010 he founded StrikeAd, the world’s first global, mobile Demand side Platform (DSP) and in 2013 he launched K1T Capital, a systematic quant based hedge fund asset management company.
Four of the founders each have a 25% stake in Bitzza Limited, the UK-registered company in charge of POW Token development.
The total supply of token has been set at 231,802,823,220 POW. That means there will never be more than this number of units of POW created. A total of 19.3bn POW has been allocated to the developer team. That leaves 212,513,140,682 to be allocated to claimers on a ‘first come, most served’ basis.
POWtoken.com has been created by five tech industry professionals with experience spanning both Blockchain and traditional centralised server world. We are not raising any money from an ICO and not seeking funding. None of the founders receive any salaries or expenses in relation to the POW project. The founders are sharing 6.83% of the total ERC20 POW being issued. In addition 1.50% of the total ERC20 POW has been issued to a UK Limited, which will periodically sell POW ERC20 in order to pay the costs of operating the centralised databases and any other costs that arise.
Hope that answers any questions about whether it is a ‘scam’. It’s free, folks!
They estimate that in March or April 2018, they will have completed building a ‘bridge’ between POW ‘lite’ and POW ERC20 Token, so that holders can convert their POW ‘lite’ to POW ERC20 Tokens if they choose to.
Almost 128 billion POW “Lite” tokens have already been distributed for free. The founders’ allocation will be 6.8% of the total issued POW.
What is POW Token?
POW is a standard ERC20 token on the Ethereum blockchain with two innovations that make it unique:
- POW ‘lite’ is the Non-Blockchain version of POW. POW “lite” is what is given to twitter and facebook users for free. POW “Lite” is held in their powtoken account and enables holders to make free transactions with one another. Ultimately POW ‘lite’ will be fungible with the ERC20 POW that exists on the Blockchain.
- A global ‘Airdrop’ of POW ‘lite’ with enough to be claimed by every person on the planet, can be easily claimed by logging in with your Facebook or Twitter account (if you have both you can make two claims!). POW has the potential to be the most widely held currency on the planet.
I have tried to log in with Twitter but after authorizing my Twitter account to give POW permission to go forth,
How do I send and receive free tokens?
Like any other crypto-currency, POW Tokens can be sent to or received from your Facebook friends. Twitter friends will also be able to perform transfers soon.
POW Token describes themselves as “a free and riskless investment” since the tokens are given away for free.
So the question of whether it is a scam is a rather ridiculous one, don’t you think? No risk. No cost. No scam.
How does POW Token works?
POW Tokens are standard ERC20 tokens on the Ethereum blockchain. The developers of POW Tokens identify two unique features including ‘POW lite.’ which is the non-blockchain version of POW crypto-currency. It’s held in your POWToken account and allow you to make free transactions with other POW holders. POW ‘lite’ will be fungible with the ERC20 POW that exists on the blockchain. That means 1 POW ‘lite’ will be equivalent to 1 POW Token.
A global airdrop of POW “lite”, with a sufficient supply to be claimed by every person on the planet. You can claim your POW “lite” tokens by logging in with your Facebook or Twitter account.
Because of the unique airdrop distribution, explains the official website, “POW has the potential to be the most widely held currency on the planet.”
There are almost 360,000 POW ‘Lite’ holders to-date.
Next claimant will be number 358,530.
How to Earn more POW Tokens for FREE?
Share your unique referral link on your blog, in social media, online forums, and via email to reach many people so you can earn additional POW Tokens for free. You will receive the same amount of POW ‘Lite’ that they receive when they use your link to sign up with their facebook or twitter account.
Earn 13946 POW 'Lite' Tokens for free just for inviting friends, family and colleagues when they sign up and claim free POW Tokens as you did. POW ‘lite’ Token airdrop will continue until all POW lite is claimed. Every time someone claims their POW ‘Lite’ Tokens, the supply decreases according to the formula above.
Claim your FREE POW 'Lite' Tokens by Clicking HERE
For more information, check out their White Paper
Sign up today and Claim over 13,900 POW 'Lite' Tokens for FREE!
Until Next Time…
Faith Sloan “QueenWiki”
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