Is PesoBit,PSB coin legit or scam?

I recently knew about an Alt coin PesoBit, PSB developed by some developers from Philippines. This coin is recently launched and I can see there is good amount of support from crypto currency buyers in Philippines.

I saw a friend posted that this coin is going to be dumped in the exchange. The developer has pre-mined coins and he will be selling 80% of it.


PesoBit claims it as a demand based coin. As per their site  they are targeting to capture a portion of remittance market share in Philippines which is estimated to be $29 billion dollars.

The developers of PesoBit (PSB) also wrote in their blog that someone contacted him to discuss about the possibilities of the coin PesoBit as an alternative to money in the ecommerce arena. They have not specified anything about who contacted him. Even no one knows who the developers of this coin are.

Currently 1 PesoBit is $0.041540 equals to 6733 Satoshi. They have a small market capitalization and price of the coin has fallen from 21000 Satoshi few days to 6700 satoshi as of now.

PesoBit claims that they have simplified the blockchain technology by turning it into a simple POW/POS coin. This coin will target Remittance, Freelancing and ecommerce as well as trading and stacking.

If PesoBit is legit or a scam, time will only tell. I suggest crypto currency buyers should look into the pros and cons of a crypto currency while buying. Price of a crypto currency depends on pure demand and supply. Hence it is more like stock market trading, if a stock is bought in good volume then its price is sure to go up, same is the case with crypto currencies.

The grey side of crypto currency is the lack of government acceptance from countries. Even Bitcoin is not accepted as a currency because it has no intrinsic value like gold and conventional currency of countries. Bitcoin is still seen as a commodity having a value and not price.

If you are buying crypto currencies then look into various aspects of it. Investment decisions are completely yours; you are responsible for your gain or loss.

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