Welcome to my Coin Place Review!
With so many new MLM companies popping up everyday, it can be hard to determine which ones are legit and which ones are not.
So how can you figure out which company is the right one for you to join?
Read and learn as much as you possibly can about a company before jumping in.
No matter if you are new to the MLM world of business or if you have been in the game for years, it’s always a good idea to know what you are getting yourself and your money into.
This blog will help you do just that by providing you with the essential info you need about this new company, the products and the compensation plan.
Let’s get right to it!
Coin Place Review – The Company
I decided to start by visiting the company website, and while I was there I found that the company did not offer information about who ran the business, nor who the owner of the business was.
The address presented as the professional address of the company is located in the ACT, Australia.
Well, if you take a closer look at the address given, it’s associated with an office block, although there is no real evidence that the company even operates there.
A little more research and some digging revealed that the Coin Place website domain was registered privately as “coinplace.trade” on the 27th of September in 2017.
The data from Alexa shows an estimate of online traffic to the company website, and the two main sources are Japan at 38% and Russia at 13%.
With the data showing these results, it’s easy to imply that the person running the business is most likely centred out of one of these two countries listed above.
And between Japan and Russia, I would have to say it’s most likely Russia.
Being that there is a functioning VKontakte profile for social media in Russian, and also the fact that the website defaults into Russian; both are clear signs that its country of operation is probably Russia.
Examination of the Coin Place Facebook (official) group shows that it has no administrators registered, and also shows that those pre-existing to the group all had names that sounded Russian.
Coin Place Reviews – The Products
Coin Place has no retail services or products for affiliates to sell or purchase.
Affiliates who sign up with Coin Place are only able to market the company affiliate membership itself.
The Coin Place Compensation Plan
Affiliates who want to participate in the company compensation plan are required to sign up as a member and then make an investment into the business.
In other words, this is how you make money with this company…
The company affiliates invest capital (funds) through cryptocurrency on the agreement of a promoted ROI (return of investment):
- Starter – Invest $10 to $500 and receive a 110% ROI after 15 days
- Medium – Invest $25 to $10,000 and receive a 6% daily ROI for 20 days (120%)
- Investor – Invest $50 to $10,000 and receive a 5% daily ROI for 30 days (150%)
The company also offers referral commissions which are based on capital (funds) invested by downline affiliates, which are paid out down to level 3 of sponsorship (unilevel):
- Level 1 (personally sponsored affiliates) – 8%
- Level 2 – 3%
- Level 3 – 1%
Cost To Join Coin Place
The cost to join Coin Place as an affiliate is free, however those affiliates whom wish to fully participate in the business opportunity and the company compensation plan are required to make a $10 minimum investment into the company.
Verdict on Coin Place
Well from doing my research and looking further into the company than just its initial offer, I can say in my opinion this company is not 100% legit…
The stunt this company is trying to pull off is the ROI revenue through trading with cryptocurrency, which is just your money taken then traded on the stock exchange.
After that’s realized, then you might wonder, ‘hey where’s the proof of these trades taking place?’, and the truth is that there isn’t really any proof that these trades are even fully linked to affiliate ROI (other than stated on the website).
This is why the company is making me skeptical of them, and this makes the company fall under one those ‘scam’ companies that are ruining the MLM industry.
Because if the company has their systems for trading set-up and ready to use, then they would have no reason to ask random people to join, then on top of that ask those people for money through the internet.
For one of the company’s affiliate highest ranks, Investor, the promised ROI is 150% per 30 days, if you do the math that’s about 1800% per year, lol…
If you can produce that type of return, you wouldn’t let anyone in on your secret.
In the real world, as we return to it after reading their website, the only verifiable source of money going into that business and coming out, is the new affiliate capital (funds) entering the company.
This will allow the company to have some capital on hand to pay off older company affiliates with the new affiliates investments made into the business…
And when new affiliates stop showing up to join in, then so will the pool of money the company has to pay out those insane ROI rates…
So this is just like any other scam out there, once people stop being sponsored, there will be no more ‘new’ money and the company will stop operations soon after because no one is left to cycle through their scam.
Lastly, the simple math behind this scheme does not allow for most of those investing in the company to make money, in other words…. affiliates will lose money with their investment.
I hope you enjoyed my Coin Place review and if you have any questions, please leave them in the comments below…
My #1 Recommendation
If you are struggling online and want to finally succeed with actual training, tools and mentorship to get you there…
You can’t afford to NOT watch to watch it because it will take your game to the next level…
Take a look at my recent results below….
Take a look at my students below…
If they can do it so can YOU.
You will thank me later 🙂
Follow me on Social media below:
Add Me On SnapChat:
Snap Chat I.D: MillDrive
See you at the top,
P.S. Sign up for my news letter below and transform your life (serious people only…)