If you are here because you were searching for the 1Coin reviews in order to find out what is 1Coin.biz in real, either is 1 Coin a scam or a legit, then you have landed in the right place. Here, within our 1 Coin review, you are going to find out the complete truth of 1Coin. In short, 1Coin is not a good company, so we don't recommend it.
If you want to know in details why we don't recommend it, then you can find that within our 1Coin review as below.
OK, let's begin with our 1Coin.biz review as below.
What is 1Coin.biz, and why don't we recommend it?
1 Coin is nothing but a Ponzi Pyramid hybrid, which means the combination of two illegal schemes. Companies like 1Coin can't sustain for long time because they use the money invested by new members to pay the existing members. But, each time they pay existing members by adding profit, they create debt into the system.
Although 1Coin.biz has claimed that they are making real profit from Forex Trading and Bitcoin investment, but there is not any proof of that. The only verifiable source of income in 1Coin is the money invested by the affiliates. More than that, it is not possible to pay back 550% ROI after 20 days constantly from Forex or Bitcoin Trading. Any Forex or Bitcoin trading experts can spot a scam in that claim.
Let's think in a simple way
If any company has a way to make 550% ROI within 20 days, then why even they need to collect the investment from several people and pay them 550% ROI after 20 days instead of taking loan from a bank in less than 1% monthly interest rate. Even if they can't take a business loan, at least they can take a personal loan and use that money to multiply through their system. If they do that, they can make enough profit within a month to pay back a loan and after that they can just multiply their earnings using the profit. So, why they are not doing that? It is simply because they don't have such system.
They are not making any profit like they are claiming. They are just using the money invested by new members to pay existing members. But, each time they pay their members, they create debt into their system.
In order to pay 550% to one member, they need to use the money invested by other 6 members. So, each time they pay 550% ROI, they create debt almost equal to the investment of 6 members. So, in this way they will keep on creating the debt and ultimately collapse even if they want to keep on paying. But, they know that is going to happen. So, they are not here to pay for long time. Like other Ponzi schemes, they will also pay few members at starting to lure more people into their scam.
Ponzi schemes like 1Coin never shows their real address or owner details. If you check the official website of 1Coin, you can't find out any information about the person who is responsible for running and operating the 1Coin. Those information has been also hidden within WHOIS details of the website. After all they know that they are here to scam majority of the members, so of course they don't want to reveal their identity.
Like other similar kinds of sites, the only information that they have provided about them is the UK Companies House registration document which is not a license to run an investment company like they are claiming, but is just a registration for a tax purpose for which even it is not necessary to provide a real physical location, but just can provide an address by renting address with any virtual address services.
Yep, the address which 1Coin has provided is not their real address. More than that, it is not difficult to register company in UK Companies House. Anyone who can pay 20 GBP, they can easily register company in UK Companies House. Tons of Ponzi schemes in the past have already turned into scam which were showing the registration document of UK Companies House similar to 1 Coin. So, it proves that having such document doesn't stop anyone to scam people.
1Coin is also a Pyramid Scheme
Like MLM (Multi Level Marketing) companies, 1Coin also provides 3 level referral commission. But, 1Coin provides that commission on the sales of their Ponzi ROI plans, not by selling any real products or services which makes them fall into another illegal scheme known as Pyramid scheme.
If you want to know more about Ponzi and Pyramid schemes, then you can find the details by clicking the following respective links:-
Ponzi Scheme:- newsonlineincome.com/ponzi-scheme/
Pyramid Scheme:- newsonlineincome.com/2017/03/06/what-is-pyramid-scheme/
So, now it is clear that 1Coin.biz is neither a legal, nor a sustainable company. So, we don't recommend it.
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