Master Coin Review: Why is it not safe?

Master Coin claims to be a digital cash which can be used for various transactions around the world. It launched its web wallet in December and is planning to launch the wallet application soon.

Master Coin claims itself as a digital cash that can be utilized for global money transfer. It has further proposed that this feature can help people in making all kinds of transaction while they are travelling. However, there is no proof provided on the website for such claims.

It has further proposed that the platform has already succeeded in getting thousands of clients from around the world. Taking into account the date of registration of the domain ( which was done on 15thNovember 2017, it seems close to impossible to have such a huge client base.

I was not able to find the names of the founders of the company. The domain is also registered privately, hence, I could not generate any information about the name and address of the domain owner. This makes Master Coin, a risky option for investment.

I was not able to find any verifiable product that could be retailed apart from the affiliate program that you can use to earn the referral bonuses. You can join the affiliate program for free. However, to enjoy the full participation, you need to invest a minimum of $100.

If you would visit the website, you would find lots of baits that they have put on their website to lure the customers. For example, the projected price of the Master Coin ICO at the end of the year 2018, Launch of mining pool etc. However, they have failed to establish a transparent platform and have hidden the background of the owners and the address of the company. This signals towards a scam.

If a company is not transparent, there should be high caution taken, while making a decision for investing into that platform. Same goes with Master Coin ICO.

Master Coin – Roadmap

On its website, Master Coin ICO has mentioned the entire year’s roadmap starting from December, when they launched their web wallet. Here is a look at the entire roadmap for 2018.

As per their prediction, the value of the coin will reach $20 by the end of January 2018. The initial value of the coin was $0.8 in December 2017 and in 15 days, the value has reached to $1. They have further projected the price to reach $1.5 by 15th January 2018. Hence, I do not see any reason for reaching a price of $20 by the end of the month. This data is not feasible.

Master Coin is planning to launch their mining pool in the month of March. However, there is no business plan in place to back this claim as well. Their claims do not seem practical.

Master Coin – Compensation Plan

Master Coin is offering a lending scheme where an affiliate would be able to invest the bitcoin for MTC points which they could lend back to the platform for receiving promised ROI.

  • Plan 1 – You need to invest between $100 to $2,000 for receiving accrued interest Daily. The initial capital would be returned in 100 days.
  • Plan 2 – You need to invest between $2,010 to $8,000 for receiving accrued interest as well as 0.10% volatility software interest daily. The initial capital would be returned in 95 days.
  • Plan 3 – You need to invest between $8,010 to $16,000 for receiving accrued interest Daily as well as 0.20% volatility software interest daily. The initial capital would be returned in 80 days.
  • Plan 4 – You need to invest between $16,010 to $100,000 for receiving accrued interest as well as 0.25% volatility software interest daily. The initial capital would be returned in 70 days.

Master Coin promises for 48% ROI per month.

Their referral bonus structure places one affiliate at the top and with each increasing level, the number of allowed affiliates increases with 1 number. For example, the top affiliate is allowed to add two affiliates and those affiliates take the position at the first level. Three affiliates are allowed at the second level and so on.

The cap is put on the 8th level. Here is the referral bonus paid at each of the 8 levels.

  • Level 1: 8%
  • Level 2: 5%
  • Level 3: 3%
  • Level 4: 2%
  • Level 5: 1%
  • Level 6: 0.8%
  • Level 7: 0.5%
  • Level 8: 0.3%

Master Coin reviews 

Sowmya Nara – 5 Star

Very good coin …really I appreciated with qrue team quick response in a mint ..and they solved my buy option button issue MTC coins into my acnt

Paul Makokha Machimbo – 5 Star

I have a vission to reach orphans and give them hope in life. I have a orphanage who need education, food, clothing

Conclusion from the above reviews

The above reviews are generic and provide no information about the future of the coin or the profit that was made. These reviews also did not guarantee that the Master Coin ICO is a legitimate investment scheme.

Hence, we cannot trust them or consider them while making a decision for any kind of investment into the company.

The verdict

Master Coin ICO claims that it would soon reach a value of $20 from $0.80 in a months’ time. The website suggests that the company is investing in social medias, funding for business events such as blockchain and fintech related events, investing in digital currency start ups. However, no proof is provided for any of the investments made yet.

The company fails to provide the information of the specific companies in which it is making these investments. The business plan also seems fake and unreal.

In addition, there is no usage of these coins outside the platform of Master Coin, which makes the value of these coins, worthless.

We are only left with the affiliate program as the verifiable source for ROI which makes Master Coin, a lending Ponzi Scheme. Every Ponzi Scheme collapse after the recruitment freezes and the same fate is going to knock the doors of Master Coin.

Once, the recruitment will freeze and the funds will meet the minimum threshold, the company would stop paying its affiliates, leaving majority of the affiliates, with loss.

Hence, do not invest into Master Coin. It is another MLM scam.

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