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Ethplus.io was launched in April 2020 to allegedly provide a form of ERC-20 token called ETH+ aka ETHP.
The project is owned and operated by Fernando Urdaneta.
He is introduced as a “programmer” and at the same time an SEO expert in charge of the marketing operations of Ethplus.io.
Ethplus is promoted as a form of Eth blockchain token which facilitates implementation of “profitable strategies”, monitoring of transactions through Etherscan and other functions which are ideal for modern entrepreneurs.
Ethplus.io touts its service as a form of modern digital payment method platform.
When the service was launched in 2020, it even provided “Ethereum investment plans” to its users.
Currently they have a whitepaper on their website but this does not give a strong indication that ETH+ is a real token with real value.
The site also links to a couple of Crypto exchanges at the bottom to make it look legitimate.
Today we will provide a quick review of this site to let you know whether or not it’s a scam.
The official website of this project fails to provide enough information pertaining to the token which they’re touting.
There are only a few sections where they give a general discussion of ETH+ token and its benefits.
The rest of the sections contain regurgitated information about Ethereum Blockchain in general.
And of course their roadmap is not useful because when we went through it, the only information we got was that EThplus.io is owned by Fernando Urdaneta.
The rest of the information was focused on general discussions on what Ethereum is and how its blockchain works.
Of course the non-technical section of the population is not interested in this programming talk.
The average investor is least interested in knowing what Blocks and Scripts are.
They just want to invest and unfortunately Ethplus does not provide information regarding how this is supposed to happen.
Ethereum Plus Doggy owners
Besides Urdaneta, Jonathan Valle is also involved.
Jonathan Valle was or is still the “Commercial Director” of the project.
The website does not go into details of who this guy is and what his professional qualifications are.
Outside this website, we could not locate the details of Jonathan Valle.
In addition to this, Urdaneta is listing teh country Venezuela on his Facebook profile where he claims to be originally from.
He currently resides in Santo Domingo and we already suspect that he has a past MLM history.
Most of this material is in foreign language, so we couldn’t dig deeper to understand the specific projects he was involved in.
All in all, these guys don’t appear to offer something that will ultimately benefit the investing public.
How to join Ethplus.io and what to know
Users have been presented with a Login page from which they can sign up as well.
So when we signed up, we were led to a wallet dashboard and a wallet address was provided.
This is just a simple Ethereum wallet which is promoted as a form of digital payment method.
Currently ETH+ token is not popular and has never been widely adopted.
This means that nobody is using or accepting ETHplus as form of payment.
The platform does not explain how to get started in acquiring this token either.
However, they’ve listed the minimum ETHP deposit and the fees involved.
What Ethereum Plus platform really is
It appears that to acquire ETHP token, one would have to pay some amount of money upfront.
As always, these arrangements will see investors loss money to the owners of the ponzi scheme as well as older investors.
If ETHplus is a form of digital payment, it should have certain qualities that meet basic economic criteria.
How ETH+ is supposed to be used to facilitate payments is still a mystery as no information has been provided.
In other words, we are staring at a Cryptocurrency ponzi scam.
ETH+ will eventually collapse and run away with the rest of the money because naturally ponzi scheme matrixes stall at some point.
According to the underlying math, if new investors stop signing up, the rest of the investors lose their money.
ETHP is a shitcoin
Later in 2020, this site launched an ERC-20 token called ETHP.
ETHP cost them nothing to launch and this took them 5 minutes or less to setup.
As long as ETHplus.io scam is paying Ethereum, the ERC-20 token will be publicly traded.
But when they stop paying Ethereum, the dumping of the worthless ETHP token on affiliates will begin.
Before we reach this phase, Fernando Urdaneta will have artificially inflated the value of his shitcoin.
Currently the value of ETHP is $0.020903 USD and market cap is $27,351.66 USD.
Sometime in June 2020, the value of ETHP climbed to $24 (deceptive manipulation of pricing).
How its value dropped to $0.020903 USD is the big question. Actually this can be considered a red flag.
Going by the look of things, it seems this shitcoin has a very low external trading volume since it’s currently ranked #2162.
To break it down for you, we’ll just conclude that a time will come when this website and its owner, Urdaneta, will disappear.
All those affiliates who will be holding ETHP in their wallets will definitely realize that they’re holding a token whose value is actually $0.
This is why we’re advising against investing with ETHPlus.io. It is an MLM scam, period.