Understanding Redfishcoin, a Security Tokens or a Utility Tokens?
The United States Securities and Exchange Commission (SEC) clamping down on ICOs, what is the risk?
Because of ICOs, massive scam scheme and lots of money lost, US SEC try to Identify wither a token is fallen on Securities or a Utility. There are many ICOs still happening and still being allowed by the SEC and governments around the world.
The ‘Howey Test‘, was employed to judge whether or not the crypto is a security token or a Utility Token. Let us remember that the US or the SEC is not against ICOs in general, they are against unregulated security tokens or ICOs.
Difference between Security Tokens and Utility Tokens
You are Being Informed; Beware of ICOs that try to present themselves as utility tokens but are actually securities. When SEC cracks down on them, your investment funds will be stuck.
Is Redfishcoin a Security or a Utility Token?
From the above information, we can start to differentiate wither it is or not
- Holding Redfishcoin does not give you ownership of the token But mere access of Service Offered.
Let us understand that Redfishcoin is a utility of Steemit Redfish Community. Any rewards, tips, and shares are exclusive to the community. Holding Redfishcoin gives you access to our service offered. You may have the access of burning it, selling it, hold it, gives it to others but you don’t own it. The value always belongs to the community.
2. Does Redfishcoin Holders Expect Profits?
No, By gaining more Redfishcoin via Percentage of Holding does not guarantee profits. It does not promise to gives you $$$ of holding. You can purchase but expect no profits at all.
But since Redfishcoin is a token with a finite 1 Million supply, that may appear as an investment option due to the laws of demand and supply, the price of this token will surely increase or decrease.
3. Redfishcoin does not offer ICOs
Let this be clear on this first stage. Redfishcoin never offers public sales or Initial Coin Offerings. None of this happened. Back on 2017 of September, The Steemit Redfish Community create a Token on Waves Platform with the aim of giving them as Rewards, Tips and Community Payments for service. Steemit is a blogging site where you can earn FREE STEEM/SBD coins by blogging. By creating Redfishcoin to promote the community awareness of its existence. Where the funds came from? It comes from Redfish Team private funds and Steemit Blogging rewards.
Redfishcoin Service and Rewards
1 Million Token Supply
Buy Back Program
Awesome Bonus Token
PoP Steemit Promotion
MONTHLY SHARES CONTRACT FOR 2019
20 Redfish holding, earn 2% monthly Shares
50 Redfish holding, earn 3% monthly Shares
100 Redfish holding, earn 3% monthly Shares & Rewards
500 Redfish holding, earn 5% monthly Shares & Rewards
1000 Redfish holding, earn 7% monthly Shares & Rewards
2000 Redfish holding, earn 7.5% monthly Shares & Rewards
But Redfishcoin Offers Shares, It should be a Security Token?
No, to be a security token, the Four condition should be in; Investment of money, In a common enterprise, With an expectation of profits, From the efforts of others.
Redfishcoin is not an investment of money nor offers public sales or initial coin offering. It gives you only access to the service offered but you don’t own it and it does not guarantee profits.