What Is VerdureCoin?
VerdureCoin initially started out at Ethgrow which should have been the first lending platform running on a smart contract on the ethereum blockchain. This project was scrapped before their ICO launch and was rebranded into VerdureCoin. VerdureCoin didn´t have an ICO phase and does not work as a smart contact anymore just to make that crystal clear. VerdureCoin is now an arbitrage platform and you use their coin to load money into their trading bot system.
There is not much information about the platform on their website and they have not written a whitepaper explaining any details either.
How Does VerdureCoin Make Money?
VerdureCoin claims to have an arbitrage bot which is able to trade on the price differences of bitcoin on various exchanges. But when they explain how they make money on their website, the very first sentence is.
We trade our coin against BTC volatility.
This makes no sense since this is not arbitrage trading. This is pretty much what every first generation lending platfrom claimed to have, but none of them did. It is also not possible to find any information about their bot, they only list their daily gains.
The VerdureCoin Lending Platform
Just like Arbitraging there are no set lending tiers with VerdureCoin and your money is not locked in for a set period of time. It should be possible to load money into the arbitrage trading bot and withdraw at any time you like. You can only buy VerdureCoin (VER) on their website by sending bitcoins to the platform to buy from their internal exchange. With your VerdureCoins you can now take advantage of their trading bot.
It doesn´t seem like there is a minimum amount you have to load in to the bot in order to activate your package and they claim you can earn up to 2% a day. In the short time I have been following this platform, the daily returns have been close to 1% or a bit above that.
Read the full review here: VerdureCoin review
And it´s gone, Verdure pulled an exit scam as expected.
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