WEWE Global presents itself as a seemingly innocuous project, involving the development of an app for cryptocurrency payments.
In reality, however, one strange thing immediately stands out: the app doesn’t exist.
According to what is stated, the project aims to launch an App on the market in the coming months which, while presenting itself as a game-changer, seems to be similar to many other apps already on the market.
Despite having some differences, it doesn’t seem to have anything really revolutionary, so in theory, it would be nothing but the umpteenth attempt to launch a new app for cryptocurrency payments into a market that is probably already flooded.
A very doubtful aspect is the curious need to spend many months to develop a project similar to others already existing on the market while considering what competitors have already developed and released, it would be more logical to expect a shorter development time.
But WEWE Global actually presents itself as a “decentralized platform” that would allow members of their community to get the most out of their cryptocurrencies.
The concept of a community being offered to get the most out of their cryptocurrencies with yet another cryptocurrency payment app should immediately raise the alarm: why should a community be involved in the development of such an app?
The second thing that should further raise doubts is the fact that the website proposes the purchase of WEWE tokens with which users can buy travel vouchers or coupons. What is the point of selling tokens to users of an app that doesn’t exist yet?
WEWE Global has its own internal token whose stated purpose is to function as the currency of the entire ecosystem: each transaction would generate a commission, in the form of WEWE virtual tokens that are distributed to those who have made possible the growth of the community.
In other words, these tokens are used to earn money for those who acquire newly registered users to the platform. A sort of pyramid scheme, in short.
In addition, the website disclaimer explicitly states that the WEWE virtual token is not tradable on any exchange, but can only be used for personal purposes or through transfer within the WEWE ecosystem. In other words, it is not convertible into other currencies.
In this regard, they explicitly state that the value of the virtual token is determined by the users and the number of customers of the service, that there are no predictions about its value and it is not a tool for speculation.
“WEWE Global is not an investment, therefore any profit from it cannot be guaranteed”.
At this point, it is logical to imagine that the only gains that can be made thanks to WEWE Global are tokens, which however have no value except within the WEWE ecosystem and cannot even be converted into other currencies on public exchanges.