“Zeniq Technologies Ltd does not provide any financial services, offerings, or financial advice and is not licensed or regulated by the Dubai Financial Services Authority DFSA.” These are the words you will see on the company website. So, it leaves a question mark? Is Zeniq coin a good investment?
In this Zeniq coin review, we will look at the features of the Zeniq coin and further analyze whether it is a good investment or not.
Zeniq coin is a product of Zeniq technologies. Zeniq technology is a company that creates fintech and blockchain-based products. It was founded by some crypto and fintech enthusiasts. The main team members at Zeniq include Michael Ofner (CEO &Member of the board), Eric Heinemann (Chief Marketing Officer), Jan Bollmeyer (Chief Sales Officer), Pedro Cieza (Chief Legal Officer), Silvia Zarazaga (Chief Administration officer), Solaiman Al-Rifai (Managing Director), Alan Zettelmann (Innovation Advisor).
The Zeniq team says that they have different experts working to create a revolution in the Crypto world and the blockchain technology at large. They create these blockchain and fintech products and in turn distribute them globally through the assistance of some global partners.
Features of Zeniq
Zeniq Hub – the Zeniq hub is hardware that provides storage for digital assets. You can access the hub through Safir which is Zeniq’s distribution partner. Zeniq describes the Hub as an “entrance card to be part of an upcoming revolution in asset management and finance”. The hub functions to tokenize assets and also for digital asset management. Through the hub, you will be able to manage your device and crypto-assets. The hub is secure and if by chance you lose or damage your Zeniq hub, you can have it restored with your private key.
Zeniq app– With the Zeniq app, you can make POS payments with Crypto and fiat, Crypto transactions and real-time fiat, permissionless fiat transactions, and connect your smartphone to the Zeniq Hub. The mobile app is also secure and private.
Zeniq made the permissionless, peer-peer -real-time fiat and crypto transactions easy through their mobile app.
Zeniq Exchange – Zeniq exchange allows community users to trade crypto assets in a simple and safe manner. The exchange is decentralized it is very particular about security, privacy, and also provides an easy hardware for users. Through the exchange, Zeniq promises to provide a secure and fast way to make trades of all categories of crypto assets. It does this by tapping into the advantages of being a decentralized exchange. Through Zeniq’s blockchain, it hopes to remove the disadvantages of centralized solutions currently in the market. Zeniq exchange offers low fees, good exchange rates, and free wire transfer. However, all these remains promises as the Zeniq exchange are yet to be launched. The proposed launching year is in the first quarter of 2023.
Zeniq Pay – according to Zeniq technology, Zeniq pay was developed to simplify and streamline online and POS payments. In their exact words “with our unique blockchain ecosystem and partners to integrate fiat payments we develop solutions that simplify and streamlines online and POS payments”. The Zeniq pay aims to incorporate Crypto technology for e-commerce, POS Crypto payment services, API for Crypto ATMs, Payment Service provider API.
Zeniq coin– The Zeniq coin is the native coin of the Zeniq platform with an Ethereum smart contract and BSC address. The Zeniq coin was invented to complement the financial ecosystem that was created using the Zeniq blockchain. The coin was invented in July 2020 and it was used to reward users who already purchased the Zeniq hub. According to the Zeniq hub platform, the coin does not require pre-mining.
It can be issued through mining 1% and minting 99%. This mining and minting can only be done through the Zeniq hub. This means that for you to have access to the coin you will buy the Zeniq coins.
With the Zeniq coin, you can purchase products from the platform.
Having known the few features of the Zeniq coin, should you invest in it?
Read: Coinpayments review
Zeniq coin: is it a good investment?
There are so many promises attached to the Zeniq coin. Whatever investment you want to make through the Zeniq coin, have the following in mind
- Lack of substantial information – the website is devoid of quality information or a road map on what they wish to achieve with the coin. You will only see the uses. Information on the cost of the coin, how many coins will you receive, duration before you receive the coin is not well known. Well, maybe they are keeping it as a surprise. We can only keep our hands folded and wait for the launch.
- The gateway to the coin is expensive. What I mean by this is that you can only receive the coin through the Zeniq Hub. The Hub will then mint the coins, 2 per day. Getting the hub costs 1,499 Euros which is quite expensive. The process is that you will get the coin from Safir Network, and then send it to the Zeniq hardware. The hardware will in turn mint your coins.
- What can you do with the Zeniq coin? I don’t have an actual answer to this. Zeniq didn’t mention any way in which their coin holders will benefit. They just mentioned that you can use the coin to buy Zeniq products. Every other thing is just sounding like promises. I can’t actually say if they are empty promises, we will keep folding our hands until the coin is launched. According to Chinma Udeji who writes for com, and claimed to have listened to one of the Nigerian facilitators of Zeniq coin. The facilitator predicted that the Zeniq coin will rise by 2000% in 5 years. As funny as this sounds, you will be a better judge to check if this is feasible. As I mentioned earlier, there is no tangible road map as to how this will be achieved. The facilitator also mentioned that Zeniq is in partnership with big banks. This wasn’t mentioned anywhere on the website, so you can either believe hearsay or discard the information. Also, there was speculation that Zeniq coin holders will benefit from the shares of companies that will adopt the Zeniq technology. Again, this is another hearsay.
My biggest fear about Zeniq coin is that it is not licensed by DFSA to carry out financial activities. Zeniq is licensed to carry out non-financial services.
Other red flags
Zeniq coin is not listed on the coin market cap. You know how risky it is to invest in coins not listed on the coin market cap.
Apparently, the Zeniq technology itself falls short of some of the services it claims to offer so how then should we believe that the coin is a good investment.
Zeniq coin is listed on Uniswap and PancakeSwap. It seems that they too don’t trust them because you will receive a strict warning when you try to trade with it. You can see for yourself.
If you have 1,499 Euros to spare in getting the Zeniq Hub, and also if you believe in their promises, then you can trade with it.
Zeniq coin review
Zeniq technologies are not entirely transparent. Nothing was said about their security measures and how they intend to protect the assets of their users. Maybe they have other plans they are not making known to the general public. However, if you believe in their promises and all they hope to achieve, you can go on and transact with them.