Libra Coin Review: Lending Ponzi Scheme

Libra Coin claims to be an ICO investment company with trading bots used to generate the LBR points. However, their claims are as flimsy as the information about the founders of the company.
Libra Coin Review: Lending Ponzi Scheme
3.4 (67.5%) 8 votes

Here is another name that closely connects the dots of a scam, Libra Coin. While searching for the details of the company, I found out that the domain (libracoin.io) was registered privately on 17th November 2017 and provides no hint about the person who owns the domain. I even tried to look out for the founder’s information on their website, but couldn’t find any link.

Although, Libra Coin claims that the company is using the concept of trading bots to fund the ROI of their affiliates. However, I couldn’t find any proof for such claims and only verifiable product that is available at their bay, is the affiliate recruitment program.

If you wish to join their affiliate program for referral commission, you can do that for free. However, to enjoy all the perks, you need to invest at least $100.

As I have always mentioned, if a company is not transparent about its background and provides no proof for the claims it makes, you should think twice before putting your money into it.

Libra Coin – Compensation Plan

The affiliates of Libra Coin are asked for the investment of bitcoin to earn LBR points. These points are generated by the Libra Coin which ranges between 60 cents to 1 dollar. After the points are earned, these Libra Points are lent back to the company for receiving the promised ROI which are paid daily.

  • Plan 1: You need to invest $100 – $1000 for receiving ROI paid daily for 240 days
  • Plan 2: You need to invest $1010 – $5000 for receiving ROI paid daily as well as 0.15% daily bonus for 200 days
  • Plan 3: You need to invest $5010 – $10,000 for receiving ROI paid daily as well as 0.25% daily bonus for 150 days
  • Plan 4: You need to invest $10,010 – $100,000 for receiving ROI paid daily as well as 0.35% daily bonus for 110 days

There is a cap on the monthly ROI payment for the lent LBR points at 45% of the initial bitcoin investment.

Libra Coin – Referral Commission

Libra Coin uses unilevel compensation structure to pay its affiliate the referral commission. In this structure, one affiliate is placed on top of the team and the affiliates recruited directly by the top affiliate, are placed on level 1.

Affiliates recruited by the level 1 affiliate are placed on level 2 directly under the original affiliate. This goes to the infinite numbers of levels. However, the referral commission is capped at level 4. The commission is paid in percentage depending on the funds invested at all the four levels.

  • Level 1: 7%
  • Level 2: 5%
  • Level 3: 3%
  • Level 4: 1%

Libra Coin reviews 

Boddhi Satva: 1 Star

I just made a deposit in Bitcoin to Libra coin and it’s not showing on my wallet! It’s been a while now!

Olushola Oyekola: 1 Star

scam scam scam red flag…..why have you abandon ideacoin…..you people are disgusting…..stupid scammers

Julian Guarino reviewed LIBRA COIN – 1 star

They haven’t finished with their first coin. I am getting very worried the whole thing was a scam.

Conclusion from the above Reviews

Many people in their reviews have related it with IdeaCoin. This also was shut down without a prior ultimatum. There are complaints about the mismanaged wallet and the services offered by the company.

People have already raised question against the company that they are associating Libra Coin with. I believe that Libra Coin has a lot of hidden truth about its operation and it is surely more than just suspicious.

The Verdict

Libra Coin claims to be an ICO investment company and accepts bitcoin from their affiliates in exchange of the LBR points. There is no big deal in getting altcoin scripts and I am sure that Libra Coin will have that intention in coming time. But, that won’t make the worthless LBR points, valuable.

The website claims that the LBR points are generated through trading bots. But, they have not provided any proof for such bots available with them. Even this claim stands true, what is the reason for sharing that 45% ROI monthly, that they are capable of generating themselves.

The only product that was verifiable on their website was the affiliate program and the funds invested by the new affiliates are used to pay the ROI to the existing affiliates. This theory makes Libra Coin, a ponzi scheme.

The anonymous admins would offload these LBR points which has no use in the practical world for real money. A part of this money will be paid to the affiliate as ROI as long as the recruitment will continue. After that, the ROI will freeze.

The admins will run away with the left money and the affiliates would be left with no choice, but to sulk. Definitely, the early joiners would be able to earn some profit. But the majority of the affiliates would receive a hard luck by investing into this scam.

 

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