Instead of quoting it as a company selling securities, Chrysos Coin represents itself as an MLM ICO company offering lending ponzi scheme. I tried to look for the names of the owners, but the website does not provide any hint about the same.
The WHOIS search on the domain (Chrysos Coin) also went null as the domain is registered privately on 14th December 2017.
As said earlier, the company only provides lending Ponzi scheme through the affiliate recruitment program. There is no other product or service available with the company. If you wish to join the affiliate program, which I would never vouch for, you can do it for free only to earn the referral commission. But, if you are looking for full participation, you will have to invest a minimum of $100.
Chrysos Coin – Compensation Plan
This ICO offers, pre-generated CHR points to its affiliates which ranges between 0.50 dollars to 1.85 dollars each. These points after acquired, are lent back to the platform for receiving huge ROI promised.
Chrysos Coin promises 1. 5% fixed ROI daily and encourages affiliates to park the acquired points for even bigger returns.
- Plan 1: You need to invest $100 – $999 for receiving 1.5% daily ROI for 210 days
- Plan 2: You need to invest $1000 – $4999 for receiving 1.5% fixed ROI as well as 0.15% bonus daily for 180 days
- Plan 3: You need to invest $5000 – $9999 for receiving 1.5% fixed ROI as well as 0.2% bonus daily for 120 days
- Plan 4: You need to invest $10,000 – $99,999 for receiving 1.5% fixed ROI as well as 0.25% bonus daily for 90 days
- Plan 5: You need to invest $100,000 or more for receiving 1.5% fixed ROI as well as 0.35% bonus daily for 60 days
Chrysos Coin – Referral Commission
Chrysos Coin offers referral commission on the funds invested initially as well as on the ROI payments. It uses unilevel compensation structure to pay referral commission to the affiliates.\
In the unilevel compensation structure, an affiliate is placed at the top order and personally recruited affiliates are placed directly under the one who recruited them. For example, if the top affiliate recruits affiliates personally, they would be placed on level 1, directly under him. Affiliates recruited by any of the affiliates on level 1, would be placed on level 2 and so on. There is no limitation to the number of rows and it can grow to limitless depth.
However, the payment is restricted to 2nd level for the referral commission on initial investment and 3rd level for referral commission on ROI paid:
Referral Commissions on Initial Investment
- Level 1: 15%
- Level 2: 5%
Referral Commission on ROI Paid
- Level 1: 7%
- Level 2: 3%
- Level 3: 1%
Chrysos Coin Review
Steve Welborn: 1 star
Stay clear of this one. Apparently you have to give exact bitcoin amount or they just hold your bitcoin hostage until you get the amount you specified in there. For instance, I chose $20 of coin. However, after I transfered it ended up being $19 and it won’t purchase their coin until I put the other $1 in. To me, this is the worse ‘feature’ to have and should never have been implemented like this.
I should also add I have no way of getting my $19 back out.
Ali Tounsi: 1 star
I think this’s a scheme, very poor presentation, they have issues with their servers from day one. People bought coins but they don’t see them in their wallets. I was going to invest in this because it looked like Bitconnect with better returns, but it looked so fishy to me. I strongly don’t recommend investing in this.
Ozker Ramirez: 1 star
It’s pretty obvious it’s a ponzi scheme. Who are the developers and that lending program is pretty unethical. If you want to throw your money away go ahead and be a sucker. My personal advice, stay away from this blockchain. If you don’t who the sucker is, well you’re the one that they suckered.
Conclusion from the above Review:
As you can see, people are complaining about the platform and its working. There is no way, you would like to invest in a program that does not have a secure system in place. On top of that, the scheme is itself illegal and should not be operating at all.
Chrysos Coin is not going to stay for long and it does not intend to as well. It has not tried to pretend to be something else and is upfront about the Ponzi Scheme it is offering.
The CHR points offered to the affiliates are nothing but mere bait to encourage the affiliates to invest their real money in exchange of worthless points which has no value beyond their internal exchange. While the affiliates pay for the points, it takes close to nothing for the owners to generate these points.
Chrysos Coin has also predicted that the price for the CHR point is expected to increase to $14 after it would be listed on an external exchange. Isn’t it too much to access one’s own worth? The price of the altcoins that are legit, is determined by the public demand and in this case, there is no demand for these worthless coins, beyond the platform itself.
So, being a Lending Ponzi Scheme, Chrysos Coin will collapse sooner or later. Once, the recruitment would freeze, the ROI will freeze as well. Those who would be joining at the start, might be able to earn some profit, however, majority of the investors will lose money in the hands of these anonymous owners and admins.
Once, the minimum threshold will reach, these scammers who claim to be great researchers would run away with whatever is left, which will for sure, make a fortune for them. But, the affiliates who invested their hard earned money would be left behind without any money.