Corex Coin Review – Legit Company or Huge Scam? Find Out Here…
Welcome to my Corex Coin Review!
It doesn’t matter if this is your 1st MLM venture, or if you have been involved with MLM businesses for many years…
You’re here because you want to know more about the opportunity this company offers, right?
I know you work extremely hard for your money and you want to be certain that you are investing it into a legit business.
With so many MLM companies out there, do you want to know my starting strategy for picking the right one?
Reading reviews just like this one that provides you with information about the company’s history, their products and their company compensation plan is a great starting point!
So, let’s begin!
Corex Coin Review – The Company
When you visit the company website, there is not much posted about the owners or operators of the company.
After a bit of digging around I was able to find that the Corex Coin website domain was registered privately as “corexcoin.io” on the 9th of February in 2018.
Data from Alexa estimates that the main source of online visitor traffic to the company website is India.
Corex Coin Reviews – The Products
Corex Coin doesn’t have any products or services for affiliates to purchase or sell.
But anyone wanting to sign up as an affiliate with Corex Coin can market the company affiliate membership.
Corex Coin Compensation Plan
Affiliates looking to take part in the company compensation plan are required to sign up and invest into the company.
Company affiliates must buy pre-generated COREX points at a rate of purchase from 29¢ to $1.05 per point.
Affiliates are then expected to return their investment points back to the company as a loan with the agreement of a promoted monthly rate of 49% in ROI.
- Invest $100 to $1000 and receive a minimum 0.1% daily ROI rate for 186 days
- Invest $1001 to $5000 and receive a minimum 0.15% daily ROI rate for 155 days
- Invest $5001 to $9000 and receive a minimum 0.2% daily ROI rate for 124 days
- Invest $9001 to $40,000 and receive a minimum 0.25% daily ROI rate for 93 days
- Invest $40,001 to $90,000 and receive a minimum 0.3% daily ROI rate for 62 days
- Invest $90,001 or more and receive a minimum 0.35% daily ROI rate for 53 days
The company uses a unilevel compensation model to pay out referral commissions to its affiliates.
The unilevel compensation model puts an affiliate at the top of a unilevel team that places any personally sponsored affiliate on level 1 right underneath the original affiliate.
When a level 1 affiliate sponsors new affiliates, they are then put onto level 2 of the original affiliate’s unilevel team.
When a level 2 affiliate sponsors new affiliates, they are then placed onto level 3, and levels continue to be created like this down a hypothetical never ending amount of levels.
Payable unilevel levels are capped at Level 4, where commissions that are paid out will be done so as a percentage of capital (funds) invested among those 4 levels:
- Level 1 (personally sponsored affiliates) – 7%
- Level 2 – 4%
- Level 3 – 2%
- Level 4 – 1%
Cost To Join Corex Coin
The cost to join Corex Coin as an affiliate is free, but affiliates that choose a free membership can only earn commissions on referrals.
If affiliates would like to fully participate in the company and income opportunity, they must invest a minimum of $100 in COREX points.
Verdict of Corex Coin
Now that we’ve made it to the end of my review, I can say that I do not think this company is 100% legit…
The company says that they make external ROI revenue by a “3 way trading concept”.
Supposedly this trading concept goes through forex and cryptocurrency trading and arbitrage, but who knows…
There isn’t much more proof provided, other than the basics through their offered whitepaper on their dealings with trading or arbitrage.
And when it comes right down to it, this company even fails pure logic…
The offered “guaranteed profits of max. 49% per month,” is great and all, but if anyone could make that kind of profit in just a month, why are they sharing this information online, and why are they asking for money from people on the internet?
Also, is this kind of guarantee believable?
On their website, you must read between the lines, they say this 49% ROI is only an upper limit, so really what are they guaranteeing?
But I do have to admit, a guarantee is always nice to hear, so I’m pretty sure they are just using a reliable word to sound appealing to potential investors.
When you take a step back and look at the company’s business model presented, you can clearly see the only real source of cash or any type of revenue entering the company is the new investment that comes with a new affiliate.
If a company is taking new investment money and applying that to their ROI payout fund in order to pay prior affiliates their ROI owed, this clearly makes this company a Ponzi scam and not a real business opportunity for any potential investor.
This company falls into the lending ICO Ponzi scam category, and their typical scam works like this:
First, the anonymous operators or owner(s) of the company try to sell worthless pre-generated points, like COREX points, for real cash.
Then, the cash gained from those investors who bought in will be given out as ROI payments, and this cycle will continue as new affiliates continue to sign up with the company.
Not all the money entering the company will be given out as ROI payments, but what ever is left will be added up into a reserve.
And when new affiliate sponsorship slows, so will the amount of money that is added to the reserve.
Once the company hits a set amount for the cash in the reserve, they will most likely take the money and run.
My advice? Be careful with this company as you are likely to lose your investment…
I hope you enjoyed my Corex Coin review and if you have any questions, please leave them in the comments below…
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