What is SignUpToken and is it Legit?
New coins with unique usability always find their way into the innovative DeFi world. But, because of several underlying factors, only a few of them succeed in gaining traction in the market. This article explores the recently launched SignUpToken (SIGN), which has introduced a new way of token presales.
Launched in March 2023, the tenderfoot crypto has already made some waves in the market. It has made it to the headlines for its immense potential. But is this token legit and has the potential to be a market disruptor? Let's find out.
What is the SignUpToken?
SIGN is the native token introduced by the newly launched SignUp Web3 project. The project claims to have a unique presales mechanism that involves email signups. The mechanism also helps the project in building a dynamic community.
The project founders plan to launch the token on public exchanges once they reach one million subscriptions from verified emails. So, with every subscription, you may expect a rise in the token’s price.
The project also claims to give investors a high ROI (return on investment) of around 72%. According to its whitepaper, the presale launch price of SIGN will be $0.01.
Meanwhile, it predicts that when rolled out on the Uniswap exchange, its price is likely to reach $0.72. That’s why it seems to be a lucrative investment for crypto investors.
SignUp crypto tokenomics
Project founders have set the total supply of the SIGN coins to 1 billion. From this total supply, 60% is allocated for the presale phase. Another 20% is exclusively reserved for community incentives, while 15% will be used for exchange listings. The remaining 5% of the coins are allocated to the project's team.
## Is SignUpToken legit?
Although there are no specific indicators for the token to be considered a scam, there are several red flags that still linger around it.
Firstly, the developers and the founders of the project are anonymous. So, there is no way investors can verify the expertise or experience of the team behind it.
Aside from that, the website, whitepaper, and overall SIGN branding seem superficial. The website and whitepaper focus more on selling the token than providing details about its mechanism or features. The high claims of unrealistic ROI and making investors millionaires are a few of its instances.
Furthermore, it provides a vague roadmap for the project. You might expect it to venture into NFT space, GameFi, or other Web3 areas. However, the main points on its roadmap are aggressive marketing, trending, and on-boarding influencers. It suggests that the team behind it only wants to attract novice investors without a proper strategy.
Another thing that may leave you wary of its legitimacy is the sponsored articles, creating hype for SignUpToken. Several news agencies are making pushy headlines to boost SIGN's price and popularity. These types of articles reflect negatively on a coin that has not been launched on public exchanges yet.
price and popularity. These types of articles reflect negatively on a coin that has not been launched on public exchanges yet.
## SignUpToken price prediction
As SignUpToken is in its presale stage, there is no verified data for its price. Similarly, there needs to be historical data that can help establish the price forecast for the coin.
However, according to the official website, currently, 1 SIGN is worth 0.031 USDT (Tether). The website asserts that this price will reach $0.72 by the public launch. This data is not verified by any independent source.
The mechanism behind the rising price of SignUpToken is that people cannot buy it at the same price. Therefore, every email subscription and buying of coins at this stage will slightly increase the coin's value. However, the practicality of this mechanism remains to be certified.
Is SignUpToken a good investment?
SignUpToken has introduced a new presale strategy in the crypto market. But other than that, it seems the project has nothing else to offer.
It is currently at its presale stage, with only 17,819,586 tokens sold. There is no certainty about the coin's price, as it has yet to be launched on any centralised public exchange.
On top of that, several indicators make SIGN a dubious crypto. Its salesy branding and promises of huge returns raise eyebrows. Moreover, the marketing strategy of pushy sponsored articles also leaves some questions. That's why it is better to avoid investing in it until the team provides more clarity regarding its future plans.
If you decide to explore SignUpToken, research its background carefully. Plus, consider your risk appetite before committing any investment.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.