OneCoin Review but Not Promoting As An Affiliate!

onecoin reviewA lot of the time when I will send valuable training to my mailing list, there will always be 1 person (out of 10,000) who decides to pitch me with the most worthless opportunity imaginable.

And of course, that happened the other day.

I was pitched OneCoin.

Understand that I am NOT promoting OneCoin as an affiliate.

When I got pitched on it, I decided to do plenty of research on it to form this OneCoin Review for you.

Let’s get started.

Also, you can watch my review video below as well.


See my OneCoin Review video on YouTube

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So, What Is OneCoin All About?

The OneCoin website does not have any information as to whom it is either owned or operated by.

The “About” section of the website does not give any further indication about the ownership or management.

They merely state that OneCoin, “is headquartered in Europe with worldwide operations. We focus core markets such as South East Asian countries, Europe, India and Africa.”

The US was noticeably not mentioned.

The Terms and Conditions page on the OneCoin website eludes that they are in Bulgaria:

“OneCoin follows strictly the regulations of the Electronic Commerce Act of the State of Bulgaria.

We are not in the business of selling your personal information to third parties.

Where permitted by the provisions of applicable law, OneCoin may though share such information from time to time with the following third parties:

Any government agency or other appropriate governmental, police, or regulatory authority in State of Bulgaria or elsewhere in order to meet legal security and regulatory requirements.”

Their domain name (“OneCoin.eu”) was registered June 24th, 2014. The website itself is hosted out of Bulgaria even though the domain registration is set to private.

Common sense dictates that should an MLM company not openly disclose whom they are owned and operated by, it is likely not a good idea to do any business with them.

What Are The Products Of OneCoin?

There are no retailable products or services offered by OneCoin. Their affiliate memberships are the only thing OneCoin affiliates can market to the website.

What About The OneCoin Comp Plan?

The compensation plan OneCoin offers centers around new affiliates enrolling and subsequently investing in OneCoin “tokens”.

The five packages OneCoin offers are:

  • Starter – 100 EUR
  • Trader – 500 EUR
  • Pro Trader – 1000 EUR
  • Executive Trader – 3000 EUR
  • Tycoon Trader – 5000 EUR

A 60/40 split is how commissions are distributes. However, affiliates may only withdraw up to 60% of their commissions at any time.

Recruitment Commissions

A OneCoin affiliate is paid a 10% commission when an affiliate they recruited buys a package.

An additional 10% commission is paid to an affiliate in their first 30 days on any packages a new affiliate buys.

The OneCoin affiliate receives this commission after the thirty-day period so long as the sum of their enrolled affiliates spend on packages is over 5,500 EUR.

Then, the regular 10% commission for recruitment will be applied.

Residual Recruitment Commissions

OneCoin uses a binary compensation structure to pay out their residual recruitment commissions.

With a binary compensation structure, a top affiliate is placed with two teams below him going to their right and left, just like an inverted family tree:

onecoin compensation plan

Each position represents an affiliate whom has bought a package.

The volume created by affiliates buying packages determine the pay out of commissions- of which only 10% of the WEAKER side is paid out.

There is no information in the OneCoin compensation plan that clarifies if the payout is daily, weekly or monthly.

Matching Bonus

There is a Matching Bonus on the binary earnings which is available on recruited affiliates and is payable to four levels down of recruitment.

The amount of levels a OneCoin affiliate is qualified to get paid on for the Matching Bonus is dependent on the amount they spend on a package:

  • Starter: no bonus available
  • Trader: 10% for level 1
  • Pro Trader: 10 for levels 1 and 2
  • Executive Trader: 10% for levels 1 and 2 and 20% on level 3
  • Tycoon Trader: 10% for levels 1 and 2, 20% for level 3 and 25% on level 4

OneLife Point Bonus

The amount spent by a OneLife affiliate for their package determines how many OneLife Points they earn along with the number of affiliates they enroll as well as the number of (global) affiliates that joined OneCoin after them.

Although points are awarded daily, the compensation plan with OnePoint notes that one can exchange points: “for attractive items- as unique holidays, usury watches and other amazing and exclusive rewards.”

However, nothing else is specifically mentioned after that.

Aurum Gold Coins

“Aurum Gold Coins” as they are called, are wrapped up in OneCoin packages.

“Aurum Gold Coin is a hybrid currency, based in Dubai and a pioneer in the world of virtual currency.”

OneCoin claims:

“Every Aurum Gold Coin is backed up with 1mg of solid gold. This gold is physically stored in the gold vault in Dubai.”

The following are the amounts of Aurum Gold Coin designated to every OneCoin package:

  • Starter:50 coins
  • Trader: 250 coins
  • Pro Trader: 500 coins
  • Executive Trader: 1500 coins
  • Tycoon Trader: 2500 coins

Attempting to confirm this claim turned up nothing, including anything specifically for “Aurum Gold Coin.”

Thus, it is almost certainly just a virtual currency exchange scheme wrapped up with OneCoin’s compensation plan.

The suggestion alone that a third-party company exists that supports the virtual currency which OneCoin is actually offering- using actual gold- is preposterous. A clever compensation plan but not quite as good as My Top Tier Business which is far more transparent.

How Much To Join OneCoin?

The cost to buy a OneCoin affiliate membership is $30.

Even though new affiliates must pay for a package, this alone does not qualify them to participate in OneCoin’s MLM side.

Purchasing this ability to get paid commissions adds another 100 to 5000 EUR investment to affiliate membership. The options for various packages are as follows:

  • Starter: 100 EUR
  • Trader: 500 EUR
  • Pro Trader: 1000 EUR
  • Executive Trader: 3000 EUR
  • Tycoon Trader: 5000 EUR

The main variance among these packages are the tokens assigned to an affiliate and the percentage of commission paid out to the affiliate.

The “Final Thoughts” section below explains.

Is OneCoin A Scam?

You may got a lot of people saying there is a OneCoin Scam and you are wondering if this is true.

Well, if you are asking me if it is a Ponzi scheme, it certainly looks like it.

There are no proper products and it is just a scheme.

Is OneCoin a Pyramid Scheme?

Well, the thing is, it certainly looks that way.

Normally, I don’t agree with people calling business opportunities scams (because there are proper products), but in this case, it does look a bit like a scam.

So, in this case there could be some truth to people calling it a OneCoin Scam.

Here is My OneCoin Review Final Thoughts

The OneCoin MLM business opportunity has three main parts:

1- A basic recruitment-driven pyramid scheme, supported by a binary compensation structure with residual pay outs.

Once a new affiliate joins OneCoin, they are then directly paid on the enrollment of new affiliates which in turn are also required to buy packages to allow them to also participate in the MLM opportunity.

2- The entire notion of Aurum Gold Coins… this is nothing but an alternative virtual currency to the OneTokens which are backed by nothing more than thin air.

3- The OneCoin token share scheme, which is oddly secretive and mysterious.

“OneCoin is a new cryptocurrency that can be traded on the OneExchange.”

The OneCoin website has no further details of any kind about this OneCoin token exchange. This is not surprising as the compensation plan itself merely has scant details.

In sum, an affiliate is paid a specific amount of OneTokens depending on how much they spent on a package when they enrolled in OneCoin.

  • Starter: 1000 tokens
  • Trader:  5000 tokens
  • Pro Trader: 10,000 tokens
  • Executive Trader: 30,000 tokens
  • Tycoon Trader: 60,000 tokens

From the tie of purchase, the OneCoin tokens are “traded” on their “OneExchange.”

Poorly pretending to be a crypto-currency, these OneTokens are simply Ponzi points that are directly linked to the amount of new funds entering the company via new affiliates enrolling and buying new packages:

“The more people join the OneCoin concept, the higher the popularity and value of the currency.

The more popular OneCoin is, the higher the value of the cryptocurrency.”

OneCoin will hold everybody’s money just so long as nobody cashes out and exchanges their OneTokens. In the event that new money entering the system begins to slow down, OneCoin has a protection measure ready to implement called, “splits.”

In a split, just as can happen with a company stock, everyone’s tokens multiply causing the value of a single OneToken to drop dramatically.

Being as OneCoin is so secretive about the OneExchange virtual currency trading platform, it is very likely that the policy includes specific withdrawal restrictions and limits to the amount of OneTokens/ money an affiliate may cash out/ “sell” over specified time periods.

Based on this, OneCoin operates exactly the same as a typical Ponzi scheme with a points-based system. The slight difference is that they are a fake crypto-currency that they would gladly have their affiliates believe is legitimate.

One saving grace of protection for those in the US is that OneCoin would quickly run into trouble for SEC violations with their offering of unregistered securities. This alone is likely why OneCoin chooses to not solicit in or operate in the US.

However, by no means is Europe is not more tolerant of such fraudulent schemes than the US, but the anonymous owners clearly take this risk there by registering OneCoin in a lower profile country like Bulgaria in hope to be able to get away with their plan.

As with all Ponzi schemes, after the purchasing of new packages halts and the unbacked value of each affiliate’s OneTokens dives into a worthless abyss, the anonymous people operating the scheme will vanish into the mist with everyone’s uncollected money.

Based on everything I have said, I can’t recommend as part of my OneCoin Review going out there and promoting as an affiliate of this scheme.

It’s just not worth it.  There are no proper products at all and it’s similar to National Wealth Center which I looked at very recently.

So, what do I recommend?

Well, I recommend going through my “free training series” to learn some important skills for making money online.

And if you need a business opportunity, go through my free training series where I give my best recommendation.

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So many of the OneCoin Reviews out there are very biased and just want your money.

I wanted this one to be different and hopefully it has shined a light on this opportunity.

 

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