Is One Coin MLM Scam? Are you searching One Coin review in order to find it out? If so, then you are in the right place. Our One Coin review provides you the detail info about it, both pros and cons, the complete truth about OneCoin.
However, before we begin with our One Coin review, we like to make you clear that neither we are promoting nor we are recommending OneCoin.
So, is that means One Coin scam? Ok, let's find it out within our OneCoin Review as below.
Background of OneCoin
One Coin domain, onecoin.eu was registered on 23rd June 2014. We can't say exactly who is the owner of OneCoin because all the info about the owner, his/her address, is hidden in WHOIS record. So, we can't say exactly where the company is actually located. But, as per the One Coin claims the company is located at Bulgaria, Europe.
We have also found that two investors of One Coin, Nazrul Islam Mamun and Zahirul Islam Zahir have been arrested in Dhaka, Bangladesh for promoting Ponzi Schemes such as OneCoin, Ilgamos and ImpaxGold. Yep, the business model of One Coin is completely Ponzi because there is not any retail products and members here can buy only One Coin tokens which minimum cost 100 Euro.
The Dhaka Metropolitan Police (DMP) officer of Dhaka, Bangladesh confirm that accused were received the large amounts of money from the general public by deception by promoting One Coin, IIgamos and Impaxgold and recruited their victims by doing One Coin presentation in hotels by providing false information about the business. So, the case has been filed for the further investigation in Bangladesh.
Another case has been filed in Sweden. Sweden’s Gaming board found that Ponzi nature of OneCoin is unclear, but have declared OneCoin to be a chain letter game or similar, commonly known as Pyramid scheme. So the OneCoin is also under the investigation in Sweden which proves OneCoin will have legal issues in many other countries in the future and even will have chance to shutdown the site.
What is OneCoin and How to earn money from One Coin?
Aforementioned within our "Background of OneCoin" caption, it is clear that how much risk is involve to work with this company. So, actually we don't recommend you to work in this company. However, if you want to know what OneCoin is offering to earn money from it, then here is the details in brief.
It doesn’t have retail product and in order to earn from it. You have to recruit new members as your referral and when they pay for the affiliate membership same like when you join, then you will earn money from it. In the past, all these kinds of companies had been already failed and considered as Ponzi and Pyramid schemes.
The membership fee of One Coin is $30, but in order to earn from your referrals, you must purchase packages which will cost from $100 to $5000 Euro. More expensive package you purchase, more commission you will earn from your referrals and will also get more tokens known as OneTokens and they make their affiliate believe that those OneTokens are new crypto currency which can be traded from OneExchange.
But considering the business model and the tokens they are assigning to their affiliates according to the investment of affiliates in different packages, we can say these One Coin's OneTokens are nothing more than the Ponzi points because these OneTokens value is completely depend with the rate of new money flowing into the One Coin via affiliates investment. There is not any crypto currency here.
Conclusion
Due to the reasons mentioned earlier in this One Coin review, we can say OneCoin is both Ponzi plus Pyramid scheme. So, it will have legal issues anytime in the future or company can be dry out and stop paying when there won't be enough flow of money from new members. So, we have listed this company in our Scams category and simply don’t recommend this company because its business model is completely illegal and unsustainable and even OneCoin is already under investigation in various countries.
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