MyCoin24 Review – Huge Scam Or Legit System?

If you’ve been paying attention lately, you’ll notice that MyCoin24 has been getting a lot of hype.

Because it’s new, it’s getting a lot of buzz and if you’re in an online business, I am sure someone will push it on you at some point.

It’s especially popular on social media at the moment.

I do want to let you know that I am NOT affiliated with MyCoin24 as a member or distributor.

My goal is to gather all the facts in one place for you so you can do your research – and it’s all here in my MyCoin24 Review.

Is MyCoin24 a legit business, or is it a complete scam?

Will I be able to build a business with it?

I tell you all about it in my Review of MyCoin24.

Read below to find out more.

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What Is MyCoin24?

Looking at the official website for MyCoin24, there’s not much of anything to see in the way of background information.

I looked around everywhere I could on the site, but even so, I was unable to find any information in regards to who owns the company, where in the world it’s based out of, or when the company was founded.

The domain name for the site (mycoin24.net) was registered back in May 2018 and then updated on March 22, 2019 — likely when the current owner took charge.

I did manage to track down MyCoin24’s Facebook page, and looking through it, all of the text is written in German. Furthermore, one post from February 18 links to a German website that sells MyCoin24 merch.

Based on this, I think it’s safe to say that MyCoin24 is being run out of somewhere in Germany (or at least a German-speaking country).

Digging even deeper, the support page for the compensation plan offers the Skype name of “calas.biz.” That name is associated with Christian Mark Laack.

Laack previously promoted Conligus in 2014 — an MLM opportunity based on the same business model introduced by Zeek Rewards. Not too long after it launched, Conligus shut down in early 2015.

Per Laack’s profile on LinkedIn, he’s currently residing in Germany in the Hamburg area.

What Products Are Being Sold?

As for the product line being offered by MyCoin24, there’s not a lot to talk about.

Similar to a lot of other companies I’ve reviewed, MyCoin24 isn’t marketing or selling retail goods to customers. Instead, the goal here is to have people become affiliates and then get those affiliates to recruit even more people.

Info On The MyCoin24 Comp Plan

If you join MyCoin24 as an affiliate, the main draw is the compensation plan that’s being offered.

In this case, affiliates are asked to invest in MyCoin24 points. By doing this, there’s the expectation that the value of the points will go up over time.

MyCoin24 has a few investment levels, including:

  • Starter — Invest 1000 EUR for 500 MyCoin24 points
  • Bronze — Invest 2500 EUR for 1500 MyCoin24 points
  • Silver — Invest 5000 EUR for 3500 MyCoin24 points
  • Gold — Invest 10,000 EUR for 7000 MyCoin24 points
  • Platinum — Invest 25,000 EUR for 20,000 MyCoin24 points
  • Country Leader — Invest 50,000 EUR for 50,000 MyCoin24 points

Along with your investing activities, affiliates can also earn through recruitment commissions. Here, affiliates get a 15% rate for their first 30 days of being a member. After that, the recruitment rate goes down to 10%.

Residual commissions exist, too, and are paid using both a binary and unilevel system.

Expect for unilevel residual commissions, all other commissions/bonuses throughout MyCoin24 are paid back in more MyCoin24 points.

What Will It Cost Me To Join MyCoin24?

If you’re interested in joining MyCoin24, you can do so by investing between 1000 and 50,000 EUR.

Any Truth To The MyCoin24 Rumours?

Any time a new business opportunity launches, you will always hear rumours about them being scams – so is MyCoin24 a scam?

From reading above, you might already be thinking MyCoin24 is a scam.

So, is it?

Is there a MyCoin24 scam, or is it legit?

To be honest, MyCoin24 isn’t a scam.

However, there are some red flags to be worried about, which I discuss in the conclusion.

See my tips below for helping to make money.

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And Now, My MyCoin24 Conclusion

As you can see, MyCoin24 is another MLM company that’s created its own form of currency and is asking people to invest money into it on the idea that they’ll earn an ROI.

Typically, opportunities like this are quite risky.

There’s always the possibility that you’ll end up making a good investment and profiting quite nicely, but at the same time, investing real money into a point system created and managed entirely by one entity comes with a lot of risk.

Things could work out, or you might end up investing a lot of cash and not get anything out of it.

If you prefer making safe, non-risky decisions with your money, MyCoin24 probably isn’t for you. And that’s fine! There are plenty of other opportunities out there with more stable, secure investments that are more than welcome for you to join.

I hope you have gained value from my MyCoin24 Review.

I have put all the details you need to know here, because all other reviews of MyCoin24 have been fairly limited with details.

If you do decide to proceed with MyCoin24 or any business, you’ll find my free training helpful – I will show you how to make money online.

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