Relicoin Bid Review – Legit Company or Just Another Scam? Find Out…
Welcome to my Relicoin Bid Review!
With all the new MLM companies popping up almost on a daily basis, it can be hard to find the legit ones among the phoney ones…
So how do can you tell which company is the right one for you?
It’s as simple as that my friends!
I want you to read and learn as much as you possibly can about a company, before diving in head first.
My blog review will help you do just that by giving you the necessary info you need about the company’s history, their products and their compensation plan.
Let’s get started with my review!
Relicoin Bid Review – The Company
When visiting the company website, there was no info posted about the owner or the operator for the company.
After a little digging and some more research, it was revealed that the Relicoin Bid website domain was registered as “relicoinearn.online” on the 9th of December in 2017.
With this registration comes an incomplete address located in Madhya Pradesh, India and Raghav Singh is named as the owner.
There was not much info related to Singh and the company.
And JUST so you know, I am not related to this person either LOL!
Relicoin Bid Reviews – The Products
Relicoin Bid has no services or products for retail.
Affiliates who sign up with Relicoin Bid can only market the company affiliate membership itself.
The Relicoin Bid Compensation Plan
Affiliates who want to participate in the company compensation plan are required to sign up and invest into the company.
The company affiliates invest into the company through the Relicoin points system.
Relicoin points are offered by the company as a pre-ICO cryptocurrency and are not publicly traded.
The company puts an internal value on the Relicoin points and they are only traded with other affiliates within in the company.
The referral commissions that are paid out through the company is quite an intricate process.
The referral commissions start off with your “Rank BID” and this seems to be the total average of your downline investments:
if you refer some person and they take participation in BID program. and they submit thire BID. you will take advantage from them.
exp:- you refer 5 person like ram shyam imran salman ganesh and they fill thire BID in INR like 10,15,50,5,30 and you fill 2INR now company take all your referral average BID and Add with your BID.
when we select top BIDER. so now your Rank BID is total referral BID amount/total referral+your BID=rank BID so your Rank BID 55+2=57 and your Position decided by Rank BID.
At the end of the day, the division of invested capital (funds) centred around the total number of personally referred affiliates indicates that over time, company affiliates will earn less in commissions from direct referrals.
The company uses a unilevel compensation model to pay out residual commissions to its affiliates, the company also only pays out after Level 7:
- Level 7 – 5%
- Level 8 – 3%
- Level 9 – 2%
These are percentages based on funds invested by affiliates on Levels 7 to 9 of a unilevel team.
There is also mention of ROI earned weekly at 9.3% and 11.3%, as stated in the company compensation plan.
As for the ROI mentioned, there is no context to be offered along with this information.
I can only make a guess that it is a percentage of the Relicoin points (set) internal value, but more details need to be found, because this remains unclear.
Cost To Join Relicoin Bid
The cost to join Relicoin Bid as an affiliate is a minimum investment of Rs. 150 or $2 USD.
Verdict on Relicoin Bid
Judging from the research done on this company, it is not 100% legit…
The info available is so unclear and its really hard to gather any usable data from what they’ve posted about their company…
Whatever it is that they are offering for a company compensation plan seems to just be hiding what is going on underneath it all, at the real core of their business…and that is selling you points in a system that you’ll never be able to figure the true value of.
Our token name is Relicoin and we are ready for ICO release but before ICO we offer our invester to earn high profit and extra coin geting opportunity
Somehow you won’t even start making money until you have 7 levels of a unilevel team put together, and I am one person that couldn’t be convinced with this ‘official’ material to invest with this company…
At this point the only real money trail that can be followed is the new investments that come with new affiliates entering the company…
The points that the company offers are only traded within the company and the company itself dictates the internal value of these points…. this is where the scam comes into play with this company…
If you were to cash out, you would only get the amount they tell you that you are getting, there’s no way to know if the points went up or down in value…
But most likely, as new affiliates come in and add to the capital of the company, this is what allows the company to raise the value of the points, because it has had a boost from the new affiliates’ investments.
What really happened is you just took the new affiliates’ investment.
Like most other scams, once new affiliates stop showing up, the company will start lacking in new funds that are incoming and the company will stop being profitable, which will hurt ROI revenue and will likely lead the company into failure…
I hope you enjoyed my Relicoin Bid review and if you have any questions, please leave them in the comments below…
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