Coinye Coins Review – Legit Business Opportunity or Scam?

Welcome to my Coinye Coins Review!

This company has been around the block for a couple years ago, but they decided to become a MLM company just recently…

Chances are someone approached you about this opportunity either in person or on social media and you want to make sure it’s legit?

Well, the good news is your actually doing your research instead of blindly jumping into it…

When you blindly jump into things, you can get burned…

And you don’t want to get burned right?

In this blog post, I am going to walk you through the company, products and compensation plan so you can make the right decision to join or not…

Find out of it’s legit or a scam!

Coinye Coins Review

Coinye Coins Review – The Company

Coinye originally launched back in 2014 as a crytocurrency company but was shut down shortly after due to a lawsuit.

Popular music artist Kanye West actually filed the lawsuit due to trademark infringement.

Wikipedia has a great article on it:

On January 6, 2014, Kanye West’s lawyers sent the development team a cease and desist order on the basis that the then-unreleased currency constituted trademark infringement, unfair competition, cyberpiracy and dilution.

In response to the legal threats, the development team changed the name of the currency from “Coinye West” to “Coinye” and moved to a new domain name.

By January 10, 2014, the development team stated that they had removed all references to West but instead “to a half-man-half-fish hybrid,” a nod to a South Park episode in which West fails to realize why people are jokingly calling him a “gay fish.”

These actions were not sufficient to appease West’s legal team and a lawsuit was filed against the creators of the coin, prompting them to sell their Coinye holdings and leave the project.

So the development of the coin is gone, but it’s still tradeable to this day.

The website “coinyecoins.com” lists Robin Clayton as the CEO of the company.

But there are rumors out there that those pictures are fake…

Who knows…

The actual domain named was registered on the 25th of December 2015 and have a bogus name listed “Coinyeye of CoinyeCoins” as the owners.

Also there is a Thailand address linked to it…

But the marketing material suggests it runs out of Malta.

When you take a look at their user agreement, you will see a welcome message and uses a domain name coinye.co in it instead.

Going in even deeper, coinye.co domain was registered November 21st of 2015 and has listed Anil Shah as the owner with an address from India…

INTERESTING…

I don’t know why some of these companies make it so hard to see who runs the show…

Why can’t they just be transparent about it?

Sheesh…

Anyway lets keep going…

Coinye Coins Reviews – The Products

It looks like their main product is Coinye Coins that have no value outside of this company…

The value in inflated according to how many people invest in it…

You can also market the actual membership to get paid commissions.

That’s it for the products…

Let’s check out the compensation plan next.

Coinye Coins Compensation Plan

Like any network marketing company, you get paid commissions when you refer someone in the business who buys a product package.

This is a lit of their membership levels that you must invest in to start getting paid:

  • Basic: $200
  • Starter: $700
  • Business: $1500
  • Professional: $3000
  • Executive: $7000
  • Owner: $15,000

And you get paid on members who invest in one of these packages.

Coinye Return On Investment

So when you pay upwards of $15,000.

The company claims after 365 days, you will earn a 400% profit or more..

The amount you can withdraw will be determined how much you invested in the first place which looks like this:

  • Basic ($200): $100
  • Starter ($700): $300
  • Business ($1500): $700
  • Professional ($3000): $1500
  • Executive – ($7000): $3000
  • Owner ($15,000): $7500

On top of that, you can get a 10% commission on people who you personally enroll that invest in one of these packages.

70% of that 10% commission is paid out cash and the rest (30%) has to be reinvested back in the company.

Residual Monthly Commissions

All of the residuals are paid through their binary compensation plan where you have a left leg and a right leg.

Some of these members won’t be your direct enrolled members, but you still get paid on the volume.

The way it works is Coinye Coins tallies up all the investment volume each week and pays you 10% on the lesser leg.

Remember, 30% of that 10% commission you  earn gets put back into the company.

Matching Bonus Commissions

Depends on which package you get, you can earn a matching bonus on your members through a unilevel structure that pays 5 levels deep:

  • Basic ($200): No matching bonus
  • Starter ($700): 10% on level 1 (personally recruited affiliates)
  • Business ($1500): 10% on level 1 and 15% on level 2
  • Professional ($3000): 10% on level 1, 15% on level 2 and 20% on level 3
  • Executive – ($7000): 10% on level 1, 15% on level 2, 20% on level 3 and 25% on level 4
  • Owner ($15,000): 10% on level 1, 15% on level 2, 20% on level 3, 25% on level 4 and 30% on level 5

Rewards Commissions

This is based off the binary compensation plan and Coinye Coins members are rewarded the following:

  • Co-ordinator ($10,000 on both sides of the binary and recruit 2 affiliates) = Coinye recognition pin
  • Team Leader ($25,000 on both sides of the binary and maintain 2 recruited affiliates) = iPad Mini and 2500 bonus Coinye coins
  • Supervisor ($50,000 on both sides of the binary and 2 personally recruited Co-ordinators) = iPhone and a car “worth $5000”
  • Executive Director ($100,000 on both sides of the binary and recruit four Co-ordinator ranked affiliates) = Mac Air Book and a car “worth $10,000”
  • Diamond ($150,000 and have 1 Team Leader and 1 Supervisor on both sides of the binary) = Mac Air Book, a Rolex watch and a car “worth $20,000”
  • Blue Diamond ($300,000 and have 2 Supervisors on both sides of the binary) = Mac Air Book, Blue Diamond Luxury Trip “worth $10,000” and a car “worth $30,000”
  • Black Diamond ($500,000 and have 1 Supervisor and 1 Executive Director on both sides of the binary) = Mac Air Book, a Black Diamond Luxury Trip “worth $15,000” and a car “worth $50,000”
  • Royal Diamond ($1,000,000 and have 2 Diamonds on either side of the binary) = Mac Air Book, a Blue Diamond Luxury Trip “worth $20,000” and a car “worth $100,000”

Cost To Join Coinye Coins

Coinye Coins members can purchase the following packages:

  • Basic: $200
  • Starter: $700
  • Business: $1500
  • Professional: $3000
  • Executive: $7000
  • Owner: $15,000

The only difference between the packages is the income potential in their compensation plan.

Coinye Coins Review – The Verdict

Alright let’s look at the facts first…

They were sued and were abandoned in 2014…

The actual Coinye Coins have no value outside of the company…

The company isn’t transparent about their leadership…

Why the heck would you invest up to $15,000 on a worthless coin where the leadership is trying to hide their faces?

There is no way this company will be around after 365 days to pay that “400% ROI’ of yours…

In other wards, I wouldn’t join…

There are so many legit business opportunities out there that you can join with the right leadership and transparency, don’t fall for these overnight get rich through worthless coins.

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Anyway, I hope you enjoyed my Coinye Coins Review and if you have any questions, leave them in the comments below.

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See you at the top,

Coinye Coins

-Jesse Singh

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