Agrichainx is masquerading as an aggrotech company that connects farmers with consumers. There is also a fraudulent coin involved called “Agricoin”.
In the Agrichainx website, they claim that their project is considered “Africa’s first global Blockchain” platform.
The vendor wants to provide a decentralized market-place where farmers and consumers can trade using smart contracts. They would also like to add a crowd-funding platform into the mix, which “ensures” farmers can use the platform to raise funds.
On top of that, Agrichainx is claiming to help farmers with decision making, even financing them in the process of interacting with the company’s website.
They also run what they call “AgricHub”. The purpose of AgricHub, they say, is to facilitate activities that take place within the ecosystem of agrichainx.
In the end, the company intends to “streamline farming” while also introducing the idea of blockchain and investing.
Unfortunately, agrichainx is just a scam because their website has many stories that do not add up.
If you don’t wish to waste time in cheap scams that play silly games with your money, my best bet is to consider these trading and investing products instead.
Inside the Agrichainx scam
The purpose of this company’s website is to introduce a Cryptocurrency scam within the context of “revolutionizing farming”.
They even have a coin known as Agricoin. Investors will have to purchase any of the company’s “investment packages” in order to take advantage of what the opportunity offers.
While analyzing this agribusiness scam, we must also understand that this website is offering a Nigerian phone number that visitors can call for inquiries.
This gives as a useful hint because we know that Nigeria is a country that is full of internet fraudsters.
Currently, Agrichainx is claiming to have created a blockchain which will enable consumers track their products from the farmer’s hands to the table.
This is baloney!
There is no evidence that blockchain is being used by this website in the intended way. In fact, their so-called Agricoin (AGN) is a fake coin with no value.
It exists as an ERC20 token but upon investigating (thanks to Etherscan.io), we find that transactions involving this coin are few and far in between.
It means AGN is literally dead. It is not going to provide the type of value that Agrichainx keeps preaching on their website.
How you will be scammed if you join Agrichainx
The company claims that they will generate profits of up to 100%. But we know very well that this is hogwash as there is not a single business in the world with this capability.
That aside, they are fronting AGN coin which is a useless token. It is not publicly traded anywhere.
So if you happen to purchase this coin (through the fake investment opportunity that the site offers), you will simply be stack with coins that you can’t convert into money.
It seems that Agrichainx is piggybacking on the first Agricoin scam in 2017 which was known as AGCMN. Upon investigating the transactions involving this coin on a daily basis, I discovered that it only has a volume of about $150, hence low liquidity.
But because this scam is clever, it will convince a lot of people out there. For example, they’ve claimed on the node statistics that Agricoin is worth over $2,000.
This is not true. We can’t verify this information. That is why we say Agricoin is actually worth nothing but probably taking advantage of the ignorance that people have concerning ERC20 tokens and how they work.
Agrichainx is also doubling up as a ponzi scheme. Perhaps the biggest beneficiaries of the fraud will be the anonymous owners and a few individuals who joined first.
What they call Agricnode is just an attempt to manipulate people into believing this is a real investing opportunity involving agriculture and coins.
If you buy the worthless coin, you will be buying something that has zero liquidity and can’t be converted into money whatsoever.