Is Zugacoin Legit or Scam? – How does it work

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Are you looking for an honest Zugacoin Review? Search no more because, in this article, we will be reviewing Zugacoin honestly, we will also explain how it works, its pros and cons, and everything you need to know about the platform.

What is Zugacoin  | Zugacoin Review

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According to Zugacoin,

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Zugacoin is a unique brainchild that aims to rebuild Africa’s dying economy by becoming Africa’s first coin in equity and investment funding for Africa’s government instead of China. Starting a business in Africa can often be a gargantuan task, especially since the prospects of obtaining a loan are few and far between, we will give out loans to aid businesses and encourage investors.


How to buy Zugacoin

In other to buy Zugacoin, you need to first register as a Sam Zuga foundation multi-purpose cooperative society limited with any amount you want to use for registration.

To register as a Zuga Foundation Multi-purpose Cooperative Society Limited, following the steps below

  • Visit the Sam Zuga official website
  • fill in your information correctly and click on submit
  • For more information  on the registration process, Call: 07044974153 or Whatsapp: 08029190438

Zugacoin Features

Borderless Transactions

Zugacoin offers a safe and secure platform to easily send and receive crypto from anyone in the world. Your transactions are not limited by geographical boundaries.

Samzuga Wallet

Keep track of all your crypto assets, where your crypto goes, and what it is used for, all in one place

Low Cost

Perform unlimited transactions within and out zugacoin ecosystem at the lowest cost ever

24/7 Make Utility Payments

With Zugacoin, you can safely pay for your utility bills such as electricity, data, and airtime using cryptocurrency with no hassles whatsoever.

Staking

Zugacoin offers you an opportunity to stake your cryptocurrency over a period of time and get rewards.

Totally Tradeable

Buy and sell cryptocurrency with anyone in the world with our safe and secure peer-to-peer exchange. Zugaex serves as an escrow until funds are disbursed.

How Zugacoin Works

The Youtube video will help you understand more about Zugacoin and how it really works.


Who is the Owner of Zugacoin?

Zuga

The owner of the Zugacoin company is known on the internet which is a good indication of the legitimacy of the website.Because one of the conditions for a legit website is that it must contain the owner’s information so that someone can be held responsible if anything goes wrong.

Archbishop Sam Zuga has unveiled his Cryptocurrency platform called Zugacoin which he said is intended to be used to alleviate unemployment in Africa. Sam Zuga, a known philanthropist is always coming up with ways to empower people and Zugacoin is his latest way of doing that.

According to the popular cleric Archbishop Dr. Sam Zuga (Jehovah’s Field Marshall), Zuga coin which is intended to be used to alleviate unemployment in Africa, also promises to be one of the most expensive currency in the world.

The founder of Zugacoin, Samzuga said,

We are going to teach State Governments in Nigeria and the Federal Government how to increase their IGR by 300% through ZUGACOIN in 2021. We will start giving loans to all African countries in 2022. Nigerians would get financial stability through ZUGACOIN. We have many projects that will improve the lives of Nigerians.”

Samzuga

Zuga Coin Proposed Use Cases

Zugacoin use cases have been planned and process already inflow. The team of programmers and ICT personnel will create and own these various Dapps, and smart contract project and they plan to use thier coin as a payment method for the various projects as listed below:

  • Samzuga Smart Cities: A smart city powered by solar energy that will house millions of members of the Samzuga Foundation Multiple Purpose Cooperative Society Ltd across the 36 states and Federal capital Territory of Nigeria. Zugacoin will then be the means of transaction in the city that will contain 5 star hotels, recreation centers, theme parks, restaurant, stadium, airport, heliport, mall, wild animal museum, schools and most importantly residential areas.
  • Dapps: An open source platform that will allow programmers acrros the globe to crearte innovative and creative smart contract for Zugacoin, which will then create employment and revive the crippled economy of Africa. These smart contracts include: Defi apps, smart contracts etc.
  • POS and ATMs: Building and mounting ATM’s and POS Machines in strategic locations around the African continent. Merchants and Vendors will be given access to do transactions using Zugacoin. These machines will use the Zugacoin payment gateways (payment.zugacoin.com).
  • Private and Government Establishment Payment Systems: Zugacoin are also installing their payment gateway (payment.zugacoin.com) into the payment platforms of Hospitals, Schools, Markets, Superstores, and other government parastatals, which will, in turn, make Zugacoin an official payment across governments and individuals’ establishments as the case may be.

The Rise and Fall of Zugacoin

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On Presale of Zuga coin, Bishop Sam Zuga states, “presale is whoever is interested in buying any of the houses before the actual date of public sales. By this time, the actual price has been divided into 100 times less and you are paying to buy the whole flat with only one portion.”

Archbishop Sam Zuga also maintained that zugacoin membership registration is like when he announced that whoever needs to reside in the estate should come with all their furniture.

“The quantity of your furniture will determine the number of rooms that would be given to you. If the quantity of your furniture is enough to fill a whole flat, you will be given a whole flat, if it’s only for one room, you will be given only one room.”

Sam Zuga, a known philanthropist is always coming up with ways to empower people and Zugacoin is his latest way of doing that.

When was Zugacoin Launched

Zugacoin’s ICO begins on December 1 as presales and Zugacoin membership registration closes on November 30, 2020.

What is the Price of Zugacoin to USDT

Zugacoin price this day 1/23/2021 is $188.70 USD with a 24-hour trading volume of $122,762 USD. Zugacoin is up 1.25% in the last 24 hours. The current CoinMarketCap ranking is #2671, with a market cap of not available. The circulating supply is not available and a max. supply of 1,000,000 SZC coins.

What is the Price of Zugacoin to Naira.

The price of Zugacoin to Naira was Calculated from the listing price of Zugacoin which was around $48k (listing price), there’s currently no specified Zugacoin to Naira price due to lack of liquidity pairs.

Why Did the Price of Zuga Coin Fall

It is funny how most developers forget the “crypto-economics” of their ICOs. There are two words that make up crypto-economics: “cryptography” and “economics”.

While most developers pay attention to the cryptography part, they hardly pay any attention to the “economics” part.

As a result of which, it is very rare to find a token whose economic skeleton has been properly and thoroughly mapped out.

In order for the token to be decently valuable in the long run, there must be sufficient demand for it but that is not what is usually seen in the  ICOs.

What is seen is unsustainable token inflation which largely happens because of flawed economic models and the greater fool theory (more on that in a bit).

Zugacoin is owned by ArchBishop Dr. Sam Zuga.

The Media Hype of Zugacoin (Credit: Bulliscomming.com)

The media will always remain the power Marketing tool for ICOs, as they offer misleading HEADLINEs, which stirs up FOMO (fear of missing out).

READ  Central Bank of Nigeria Cannot Ban Cryptocurrency – Here’s Why

Check out this Zugacoin News headlines, from top media bodies in Nigeria.

Just in: Zugacoin Can Be Cashed Out In Nigeria, Africa – Leardership.ng

leadership zugacoin

Paragraph Extract  – Zugacoin trading commenced on December 1, 2020, with the price set on the INDOEX EXCHANGE platform at the rate of 1 Zugacoin to $48,957 which in naira is N24,037,887 (Twenty four million, and thirty-seven thousand, eight hundred & eighty-seven naira).

Zugacoin capital base rises to $47B in CoinMarket Cap – Guardian.ng

guardain zugacoin

Paragraph extract – Zuga coin capital base has been estimated at 47 Billion Dollars by CoinMarketCap. Zugacoin traded above 48,000 Dollars while Bitcoin traded on the highest ever price of above 28,000 Dollars.

Benue Govt. adopts indigenous cryptocurrency, Zugacoin -Guardian.ng

benue govt

Paragraph Extract: Benue state government has adopted Zugacoin as honorable Speaker to the Benue State House of Assembly, Hon. Titus Ubah alongside, Hon. Bem Mngutyo, minority leader of Benue state house of Assembly officially became registered members of Zugacoin. This new feat was achieved during their courtesy visit to the founder of Zugacoin Archbishop Sam Zuga who is also from Benue state, a Tiv man by birth.

Where to Buy/Sell Zugacoin

You can buy/sell Zugacoin in the this two exchanges below:

  • Indoex
  • Nellabox
  • Zugacoin.com

Meanwhile, a report as of 01/23/2021 we discovered they were zero trading activities of Zugacoin taking place on Indoex Exchange and Nellabox.

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This pose more threat on Zugacoin, amidst the massive fall in Price and investors are in the lookout to dump and runaway. But then Liquidity strikes.

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Indoex exchange happens to be the first Exhcange listing Zugacoin, and we have discovered they have a portfolio of 9,984.12107 Zugacoin (SZC), and when we check the value of Zugacoin to USDT (through etherscan) its shows zero.

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In addition the wallet used to create Zugacoin has a total of 0 Zugacoin in possession.

As of 1/23/2021 they are 3,333 Ethereum wallet address in the possession of Zugacoin. With a fully diluted market cap of $0.00.

Is Zugacoin legit
source etherscan.io

Zugacoin Contact Information

Just in case you have any need to contact Zugacoin, you can do that using their email address below.

You can also decide to join the Zugacoin community (social media handles) using the links below or you visit the Contact page

Zugacoin Review | Is Zugacoin Legit or Safe?

At the time of writing this article, we can say that Zugacoin is legit and Safe.

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