Would you invest in the "World's First Blockchain Fund"?

in #investing5 years ago (edited)

Image 7.png

Today I came across the above advertisement in steemit.com by a company known as Amfeix Index FZE. The company claims to be managing the World's First Blockchain Fund and is inviting prospective investors to invest in it.

On Amfeix's website, under the heading, "Blockchain Fund Details", the company says,

"AMFEIX groups investors' funds into a pool that is managed by experienced traders on liquid exchanges. Our team of professional technical traders and analysts execute open market operations on daily basis and make profits from the volatility."

No details of the so-called professional technical traders and analysts is given. We are expected to believe their word as gospel truth and invest in the fund.

I was curious to know more details about the company and its registration details. The only information I could find about company was a copy of the company's Certificate of Registration, as shown below, which could be found by clicking the Company Registration link found on their website.

Image 8.png

This Certificate of Registration shows that the company is registered in the Umm Al Quwain Free Zone, United Arab Emirates. Naturally I was curious to find out why anybody would register a blockchain company in a Free Zone in UAE.

My probing led me to this link: UAQ Free Zone, which provides the procedures and details for the formation of company in Umm Al Quwain Free Zone and this link: UAE & Dubai Free Zone, which provides the procedures and details for the formation of company in all the Free Zones in UAE, including the UAQ Free Zone.

The following are the facts that were gleaned by reading the above two links:

  • The "FZE" in Amfeix Index FZE means the company is a "one owner" company.
  • The owner need not be present in the UAE to register the company.
  • There is no capital requirements for the company.
  • The company is not required to be audited.
  • The company registration can be done in 1-2 days.
  • Once invested, your funds are in the control of the company (i.e the single owner).
  • No details are given on the security measures taken to protect the funds, except that it is stated that 50% of the funds are used for trading and the other 50% is held in cold storage.
  • No details given of the number of fund managers managing the fund.
  • The names and the credentials (the qualifications and experience) of the fund manager(s) are not given.

I do not want to go into the merits and demerits of investing in the above fund.

What I am interested to know is how many of you, given the above facts, would or would not invest in the fund and why?


presearch

Sort:  

Hi @devann, your post was found by @hobo.media for producing quality journalism on Steem. This means you are going to be visible to our audience and our partners!

@hobo.media supports quality Steem news reporting with our new Hobo token that will function with our upcoming HoboDAO. There is a 3,000,000 Hobo token fund dedicated to monthly rewards to high quality information providers. You have been selected to receive 3000 Hobo tokens per month until the fund is depleted. Check out your tokens with the Keychain wallet or put them on the market for STEEM at steem-engine.com.

Thank you for improving Steem with your work! Please remain an active producer of journalism.

Thank you for the compliments, @hobo.media.

If it is save to invest in why not I can give it a try after all life is all about risk

Posted using Partiko Android

Interesting @maxwellnewlif7. Truly, "Gentle humble and easy going".

How much do you plan to invest?

May be, that can work.

Coin Marketplace

STEEM 0.30
TRX 0.14
JST 0.039
BTC 62161.87
ETH 3424.20
USDT 1.00
SBD 4.90