Ant Network: All The Reasons Why You Should Be Concerned

According to the whitepaper,

In the second quarter of 2021, they will hold a private coin sale where users can buy ant coins in order to collect enough money to finance the video sharing platform project.
In Q4 of 2021, the team claims to establish and test the video sharing network
In Q1 in 2022, the team claims that they will launch the ant coin and list it on crypto exchanges.

Is Ant Network a legitimate project?

In short, we don’t think so. We see many red flags in this network, making us believe that creators do not plan on actually launching a real coin, hence, wasting time of the app users. Some of the issues related to Ant Network are:

Paid upgrades

In order to increase the mining speed within one session, users can buy packages with cryptocurrency. The mining speed will range from 2-75 coins per hour at a maximum price of $100. Paid upgrades are a big red flags when it comes to similar cryptocurrency projects because the creators are already making real money whereas the users are investing in virtual assets which may not turn into actual profits. Additionally, making the payment method through cryptocurrency makes it harder to trace the transactions and fraud if the creators decide to terminate the project and take the profits.

Anonymous creators

Although some of the creators of other legitimate projects such as Bitcoin used nicknames, almost no successful crypto project had a completely anonymous team behind it. Ant Network creators are both anonymous and state that they do not have corporate emails for people to reach out to them.

source: Ant Network FAQ page

Users cannot directly reset their passwords

In the Ant Network FAQ webpage, creators clearly state that there is an error in the system which doesn’t allow users to reset their passwords, and that they should contact them via registered mail addresses to tackle the issue.

source: Ant Network FAQ page

No privacy policy

The Ant Network website does not have a privacy policy about users’ data collecting, tracking, and sharing with third parties. Privacy policies are a legal requirement in the US, Canada, European Union, Australia, and India, Japan to ensure that companies do not use users’ data in unethical ways. Lacking a privacy policy is a major red flag. App creators could be sharing user data for benefit within the mining app, in the future video sharing platform or with 3rd parties.

Users’ complaints on Google Play store

We checked out user comments on the google play app store and found many users complaining about issues in the login and password, reduction in mining speed, inactive wallets, and resetting of coins after large earnings. For example:

“It keeps reducing my mining by half at the end of every mining cycle, by now my balance should have been over a hundred, and after the recent update my total balance just dropped down to 32.”
“I accidentally exited and now when I try to login using the right password it says it is wrong, and when I try to reset, it says mail not sent”
“Can’t access the wallet or even access a link to a wallet.”
“I already mined 200+coins but the app shows only 12 coins.”
“App keeps resetting my mining”

We also noticed that the network’s customer support team do not reply to the comments or reviews on the Google Play store.

What should you do now?

From our perspective, it seems that Ant Network is a scam with no real value to users in the long term. We don’t encourage people to invest any of their time or money in projects where anonymous creators can make profit off of the users’ time, and possibly data.

How to avoid potential scams?

To help people avoid possible scams, we’ve investigated different crypto projects to identify good and bad investments in the market, such as:

And we’ve also provided some insights about trending cryptocurrencies on exchanges which we also believe will not provide tangible profit to its owners. Feel free to read:

If you are considering investing in crypto projects, make sure to read our in-depth article on how to

On the other had, there are currently government efforts to engage in the

In the end, this is our opinion about the topic, and we are interested in learning about your thoughts. Feel free to let us know what you think in the comments.

In February 2021, the foremost halve occurred when app users reached 10k, and in May 2021, the second halve occurred, and nowadays users earn 1 mint per hour for a 24h mine session.According to the whitepaper, In short, we don ’ t think so. We see many red flags in this network, making us believe that creators do not plan on actually launching a actual coin, hence, wasting prison term of the app users. Some of the issues related to Ant Network are : In order to increase the mine speed within one session, users can buy packages with cryptocurrency. The mine accelerate will range from 2-75 coins per hour at a maximum price of $ 100. Paid upgrades are a big crimson flags when it comes to exchangeable cryptocurrency projects because the creators are already making real money whereas the users are investing in virtual assets which may not turn into actual profits. additionally, making the payment method through cryptocurrency makes it harder to trace the transactions and fraud if the creators decide to terminate the project and take the profits.Although some of the creators of other legitimate projects such as Bitcoin used nicknames, about no successful crypto project had a completely anonymous team behind it. Ant Network creators are both anonymous and express that they do not have corporate emails for people to reach out to them.In the Ant Network FAQ web page, creators clearly state that there is an error in the system which doesn ’ triiodothyronine allow users to reset their passwords, and that they should contact them via registered mail addresses to tackle the issue.The Ant Network web site does not have a privacy policy about users ’ data collect, tracking, and sharing with third base parties. privacy policies are a legal necessity in the US, Canada, European Union, Australia, and India, Japan to ensure that companies do not use users ’ data in unethical ways. Lacking a privacy policy is a major crimson iris. App creators could be sharing drug user data for benefit within the mining app, in the future video sharing platform or with 3rd parties.We checked out drug user comments on the google bid app store and found many users complaining about issues in the login and password, reduction in mining accelerate, inactive wallets, and readjust of coins after big earnings. For example : We besides noticed that the network ’ south customer defend team do not reply to the comments or reviews on the Google Play store.From our perspective, it seems that Ant Network is a victimize with no substantial rate to users in the long condition. We don ’ t promote people to invest any of their time or money in projects where anonymous creators can make net income off of the users ’ time, and possibly data.To help people avoid possible scams, we ’ ve investigated different crypto projects to identify thoroughly and bad investments in the grocery store, such as : And we ’ ve besides provided some insights about trending cryptocurrencies on exchanges which we besides believe will not provide tangible profit to its owners. Feel detached to read : If you are considering investing in crypto projects, make sure to read our in-depth article on how to invest in crypto, invalidate victimize, and pick winners, and review our comprehensive list of cryptocurrency exchanges On the other had, there are presently politics efforts to engage in the blockchain engineering and provide digital currencies for the people. If you want to learn about this, feel barren to read our articles : In the end, this is our public opinion about the topic, and we are interest in learning about your thoughts. Feel detached to let us know what you think in the comments .
Cem Dilmegani Cem founded the high technical school industry analyst AIMultiple in 2017. AIMultiple informs ~1M businesses ( as per similarWeb ) including 55 % of Fortune 500 every month.

Throughout his career, Cem served as a technical school adviser, technical school buyer and technical school entrepreneur. He advised enterprises on their engineering decisions at McKinsey & Company and Altman Solon for more than a ten. He led technology strategy and procurement of a telephone company while reporting to the CEO. He has besides led commercial increase of deep technical school companies that reached from 0 to 3M annual recurring gross within 2 years.

Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer mastermind and holds an master in business from Columbia Business School.