What is GiraCoin? Is GiraCoin.com a Scam or a Legit?
GiraCoin is a combination of Ponzi and Pyramid scheme similar to OneCoin which seems legal, but in reality is not legal because Gira Coin has not any retail products or services, but it provides 15 levels downline commission like in MLM (Multi Level Marketing) companies when affiliates invest in their Ponzi ROI plans which makes it Pyramid scheme. Their GiraCoins is not a real cryptocurrency, but just a Ponzi points generate from its Ponzi and Pyramid business model which can’t be sustain for long run and will ultimately collapse. Outside of GiraCoin.com website, there is not any value of those GiraCoins which proves that those are not a real crypto currency. If you don’t know what is Ponzi and Pyramid scheme, then you can find the detail by clicking this link:- newsonlineincome.com/2017/03/06/what-is-pyramid-scheme/
We have provided more detail about what is Gira Coin in real within our GiraCoin review as below.
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Gira Coin login and join in link:- https:// giracoin. com/ (Not Recommended)
Background of GiraCoin
If you check the WHOIS detail of Gira Coin website, you will find out that Ramon Simon is listed as the owner of GiraCoin, but that information is not provided in their website. In their website they have only provided the information that they are from Switzerland. The registration document that they have provided doesn’t give them license to run the business model which they are running currently.
Why we don’t recommend GiraCoin? Why is Gira Coin scam?
Like we have said before, Gira Coin is a combination of Ponzi and Pyramid scheme which business is not legal, so that is already enough reason for not recommending it. Now, let’s explain you why we are saying it is not legal.
According to the compensation plan of GiraCoin, affiliates need to invest in their passive ROI plans in order to earn back ROI. When affiliates invest in their ROI plans, they will get tokens which can be convert into GiraCoins later and when affiliates recruit new affiliates who invest in those ROI plans, they will earn commission on their recruited affiliate’s investment amount. But, GiraCoin makes their affiliates believe that they are not investing in ROI plans, but investing for tokens which can be convert into their so called crypto currency known as GiraCoin which value will be increase in the future. But in reality, the value of Gira Coins is based on an arbitrary value set by GiraCoin itself.
Following are the ROI plans where affiliates believe investing in their so called cryptocurrency, GiraCoins.
- Starter – Affiliates need to invest €50 and receive 500 tokens
- Professional – Affiliates need to invest €120 and receive 1200 tokens
- Consultant – Affiliates need to invest €550 and receive 5500 tokens
- Expert – Affiliates need to invest €1200 and receive 12,000 tokens
- Broker – Affiliates need to invest €3000 and receive 30,000 tokens
- Manager – Affiliates need to invest €6000 and receive 65,000 tokens
- Principal – Affiliates need to invest €9000 and receive 100,000 tokens
- Executive – invest €13,000 and receive 150,000 tokens
- Director – Affiliates need to invest €26,000 and receive 300,000 tokens
- President – Affiliates need to invest €33,333 and receive 400,000 tokens
- Ruler – Affiliates need to invest €111,111 and receive 1,400,000 tokens
Like we have said before, later on affiliates can convert those tokens into their so called Gira Coins which value is based on an arbitrary value set by GiraCoin itself.
They have also provided residual commission upto 15 level referrals. The level 1 means the referrals that you directly recruit, level 2 means the referrals of your referrals and so on. You will earn referral commission on the investment amount of your referrals on their different ROI token plans as we have mentioned before. So, like we have said before, paying referral commission on the sale of investment plans without selling any retail products or services fall into illegal scheme known as Pyramid scheme.
More than that, there is not any real value of GiraCoins outside of Gira Coin website. Yep, they have said that they are launching GiraBuy, an e-commerce platform to be filled with third party merchants, but still they haven’t done that and in real they can’t do that because none of the legitimate merchants will accept those GiraCoins because Gira Coins are not a real cryptocurrency, but just a Ponzi points.
So, why are we saying GiraCoins is not a real cryptocurrency? It is because real crypto currency is generated by mining process, not by letting many people invest in the program like Gira Coin. Yep, they have said that GiraCoin is based on the real block chain algorithms, but they have failed to provide the proof of any such things happening because in real that is not happening. You can think yourself, does Bitcoin, the pioneer of cryptocurrency was started by investing from various people? Of course not, there is no need to ask for investment from various people for real mining. So, the business model of GiraCoin doesn’t make any sense.
So, GiraCoin will use the investment of new members to pay existing members. But, unlike other regular Ponzi scheme, they make people confuse by converting the investment into tokens first and then converting that tokens into GiraCoins later which value seems to be increasing and looks like affiliates are making real profit due to the increase in the coin value, but in real that value will be arbitrarily increase by “Gira Financial Group AG” to make their affiliates believe that they are earning good amount of profit by holding Gira Coins and Gria Coins are really worthy due to which they will invite more new people to join the system and at last when team of GiraCoin gather tons of money from the investment of affiliates, will just start to make stories and stop paying and run with money of members.
Actually it is very easy for the owner of GiraCoin to stop paying affiliates anytime because for that they simply need to decrease the value of GiraCoins which they can do anytime, after all GiraCoins value can be completely manipulate by the team of GiraCoins and affiliates will believe that they lose money because GiraCoins value drop and will wait for years hoping that the value will increase same as Bitcoin, but that will never gonna happen and the owner of GiraCoin will just take the money of its affiliates under their nose. So, before you believe Gira Coin is a real cryptocurrency, first ask with real cryptocurrency wallets that either Gira Coins have any value out side of Giracoin.com website or not, then you will find out the reality by yourself.
Actually GiraCoin is not alone, you can find other similar kinds of companies which are fooling people. The good example is OneCoin against which various legal cases have been already filed in different countries which proves that this business model is 100% illegal. You can find our detail review on OneCoin by clicking this link:- newsonlineincome.com/onecoin/
Aforementioned, it is already clear that GiraCoin is a combination of Ponzi and Pyramid Scheme which is not legal and can’t be sustain for long run. So, we don’t recommend anyone to invest money in GiraCoin.
If you really want to make money online, there are tons of ways to earn money online about which we have explained in detail within this page:- newsonlineincome.com/legitimate-work-home-businesses/
However, we always suggest everyone that the best way to earn money online is by creating their own website in their own subject of interest because from our own website no one can scam us. But, many people think creating website is too technical and hard work. But it is not if you join the right platform and that right platform is Wealthy Affiliate where you can find all set up website where you only need to give the name of your website as per your subject of interest and start to post the content in your website as the way you post in Facebook. After that you can take step by step video lessons within Wealthy Affiliate from which you will learn the various ways to earn money from your own website. You will also learn other online business skills from Wealthy Affiliate such as the way to earn money from big companies like eBay, Amazon, Google AdSense and so on, the way to make tons of referrals in any online work companies and so on. You can also earn money within Wealthy Affiliate itself. For more detail, you can take a look at our Wealthy Affiliate review page by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/
However, if you are only interested in risky companies where you can earn just by investing some money, without doing hard work and for that you are ready to take a risk of your investment, then you can find some of those risky companies by clicking this link:- newsonlineincome.com/work-home-reviews/
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