Cryptocurrency has now become a trend and because of its less knowledge among people, it is easier for scammers to play around the niche to earn quick bucks. Master Coin Plus (mastercoinplus.com), one such MLM niche into crptocurrency investment, has got a suspicious profile.
The company has named Thomas Armour as the CEO of the company. When I checked his profile on linkedin, I got his prior venture. Before joining Master Coin Plus, he was the CEO of YoCoin, another altcoin MLM scheme. His profile states that he is a well-recognized speaker, sales trainer, coach and educator.
In YoCoin, individuals invested $2000. It reached its peak at 33.9 cents during July 2016. As of now, the value is no more than 0.3 cents.
In July 2017, there was a comment made by an affiliate of YoCoin deeming that he had never heard of Thomas Armour with YoCoin. However, google search caught his past update and clearly showed that he had connections with YoCoin.
His profile also gave an insight about the MLM companies, Game Loot Network, Magic 10 Maketing and Saivian, where he has worked as an affiliate himself and has been a major promoter for them.
I was not able to verify any product or services apart from the affiliate program. Master Coin Plus promises for a net ROI after 120 days from investment.
Individuals need to invest a minimum of 0.0625 BTC and a maximum of 32 BTC to join the affiliate program. The more is the investment the more is the ROI provided.
Master Coin Plus – Compensation Plan
The affiliates are promised ROI after 120 days of their investment and the residual commission is paid according to the recruitment of the new affiliates and the funds invested by them.
Binary Compensation Structure is used to pay the residual commission.
In a binary compensation plan, one affiliate is placed on the top and the next level is parted with two positions, left and right. For example. The top affiliate is allowed to place two affiliates directly under them. Hence, there are two affiliates on the second level. Each affiliate on level 1 is allowed two affiliates on its right and left, making the total of 4 affiliates on level 2 and so on.
The binary team can grow to as many levels as possible. The commission is paid after matching the volumes on both sides of the recruitment levels.
- Plan 1: You need to invest 0.625 BTC for receiving 7% from binary commission which is capped at 0.15 BTC per day and/or 3 BTC per month
- Plan 2: You need to invest 0.125 BTC for receiving 8% from binary commission which is capped at 0.25 BTC per day and/or 7 BTC per month
- Plan 3: You need to invest 0.25 BTC for receiving 9% from binary commission which is capped at 0.5 BTC per day and/or 15 BTC per month
- Plan 4: You need to invest 0.5 BTC for receiving 10% from binary commission which is capped at 1 BTC per day and/or 30 BTC per month
- Plan 5: You need to invest 1 BTC for receiving 12% from binary commission which is capped at 2 BTC per day and/or 60 BTC per month
- Plan 6: You need to invest 2 BTC for receiving 14% from binary commission which is capped at 4 BTC per day and/or 120 BTC per month
- Plan 7: You need to invest 4 BTC for receiving 16% from binary commission which is capped at 8 BTC per day and/or 240 BTC per month
- Plan 8: You need to invest 8 BTC for receiving 18% from binary commission which is capped at 16 BTC per day and/or 480 BTC per month
- Plan 9: You need to invest 16 BTC for receiving 19% from binary commission which is capped at 32 BTC per day and/or 960 BTC per month
- Plan 10: You need to invest 32 BTC for receiving 20% from binary commission which is capped at 64 BTC per day and/or 1920 BTC per month
MasterCoin reviews from around the world
Bittney: I loved it. I am going to be with this platform for long. Huge thumbs up.
D Roy: Good move and great opportunity.
Conclusions from the above Review
These reviews do not say much. We cannot depend on these reviews for making a decision of investing into Master Coin Plus which is still having various red flags.
The company claims to generate the ROIs through cryptocurrency mining and trading and by using bitcoins ATMs.
However, it has not provided any proof for such claims. In addition, there is no verifiable source of income apart from the affiliate program itself where the ROI provided are generated through the funds invested by the downlines and the new recruitment. This makes Master Coin Plus, a ponzi scheme.
As per the Alexa statistics, the largest network of about 28% for Master Coin Plus comes from US and Thomas Armour, who calls himself as the CEO of the company is pitching the investment opportunity to the US residents.
Being an investment company and pitching the US residents for the investment plans, the company should have been registered on the SEC’s Edgar database. However, all my attempts failed while locating its name in the list. This puts us back to square one. The company is selling unregistered securities to the US residents.
As per the fate of the ponzi scheme, Mater Coin Plus will meet the same future. Once the new recruitment will freeze and the minimum find would reach, the company will stop paying its affiliates. Those who would be joining early, would be able to take some money back, but majority of the affiliates will be left without their initial capital as well.
Hence, if you are thinking of investing in a company that is surrounded by question marks, tighten your seat belts and you would never know when the collapse would happen and what would be the intensity of the damage. Master Coin Plus is a sure scam. Stay as far as you can.