DealShaker is perhaps the only use case of OneCoin, the virtual currency that has earned itself the nickname of scam of the century.
DealShaker presents itself as a real global marketplace. The website with the .com extension allows you to filter your purchases according to their origin. A counter at the top of the homepage indicates that almost 132,000 companies and just under 670,000 users are registered on DealShaker. The portal sells everything, products, services, property and cars, travel and entertainment.
However, the purchasing mechanism is a bit complex. Judging by the tutorials on the web, the purchase does not actually take place on the platform. On DealShaker, in fact, it is possible to buy coupons that are paid using the OneCoin account and then the same coupon can be redeemed in the actual store of the merchant.
The curious thing is that on the website it is established that the ONE currency is currently worth 42.33 euros.
On the Internet, and to be precise on the YouTube channel of DealShaker.it, it is explained that OneCoin has grown in value, so much so that in six years (from 2014 to 2020) it would have gone from 50 cents to over 40 euros today. There is no information as to how this dizzying increase in price, which would make even Bitcoin pale, occurred.
It must also be said that DealShaker combines payments in OneCoin with those in euros. And this says a lot about how much the merchants who sell on the platform trust ONE.
To understand how much the website is appreciated or not, it is enough to have a look around on Trustpilot. There are 19 reviews, 1 out of 4 of them are positive, the others are totally negative.
However, some users appreciate the fact that the DealShaker includes the cryptocurrency as a payment method. Others point out that the cryptocurrency itself is a scam.
In fact, it is not the website itself that is fraudulent, quite the contrary, the website might even work for its purpose, which is to spread OneCoin and use it as a payment system to give at least a concrete use to the currency. But it is OneCoin that over the years has gained the reputation of fraud.
Nevertheless, as shown by the opinions of users, even very recent ones, and as demonstrated by the fact that the site is online, OneCoin is far from disappearing from circulation.
The story of OneCoin, the currency of DealShaker
OneCoin represents a failed attempt to revolutionize the economy. The creator of the project, Dr Ruja Ignatova, set up a system for selling financial education packages containing also “tokens” to be redeemed in OneCoin when OneCoin would be mined. The sales system was (and is) of a multi-level marketing type, so buyers can earn money by bringing in other buyers. This has caused OneCoin to raise something like $4 billion worldwide.
Needless to say, there is no trace of the blockchain although users claim to own OneCoin redeemed in an unspecified way. Moreover, OneCoin has never been listed on exchanges.
In October 2017 (DealShaker had already been launched) Dr. Ruja Ignatova disappeared into thin air. Her story was beautifully told in The Missing CryptoQueen, the BBC podcast that traces the story of OneCoin and its founder.
Some say that she may have been kidnapped, perhaps killed, because her revolution would have bothered the big powers. For others, she simply hides, after changing her somatic features with the help of cosmetic surgery. An arrest warrant hangs over her. Meanwhile, in the United States, it is her brother Konstantin who has been arrested and has been running the business since Dr Ruja’s disappearance. He has agreed to testify against his sister.
However, the disappearance of Dr Ruja Ignatova and the arrest of her brother hasn’t put an end to the tale of OneCoin.
OneCoin continues to “sell”, with the promise that sooner or later it will be listed on the exchanges and that it will actually kill Bitcoin.
The economic crisis unleashed by the Coronavirus has given hope back to those who believe in ONE. Because what the promoters of OneCoin want to convey is that sooner or later cash will disappear and that the main payment system will be electronic. Perfect for OneCoin.
In reality, cash is far from disappearing, despite the fact that it is being accompanied and will increasingly be so by electronic payment systems. Ultimately, OneCoin, if it ever really exists, will still have a long way to go to disrupt the current economic system.