NasdaCoin which is a clone of BitConnect and John Baptist being one of the Co-Founders of this company, make it apparent that NasdaCoin is nothing but another Ponzi Scheme trying to breathe through the cryptocurrency niche.
The name of John Baptist is mentioned in their whitepaper as the blockchain developer. However, the company has not discussed his executive role in the company. Those who are not aware of this man should check for his history.
He is associated with the MLM industry for a long time and has been involved in Game Loot Network, SwissGolden, and many such schemes. Apart from these, his investment was dominant in Ponzi Schemes like BitConnect and iPro Network.
The domain (nasdacoin.io) was registered privately on 29th January 2018.
The company has put it in plain words that their affiliate program is only able to generate such a huge ROI that they promise to offer. To join their affiliate program, one needs to invest a minimum of $100. They do have a free membership plan for those who only want to earn referral commission.
NasdaCoin – Compensation Plan
The anonymous admins encourage the investors to pay in the cryptocurrency funds for acquiring pre-generated NSD points. The price for each coin is $0.99.
After earning these coins, the affiliates are further motivated to park these coins in the platform for earning upto 300% ROI as promised by the company.
- Plan 1: You must invest $100 – $1000 for receiving daily variable ROI
- Plan 2: You must invest $1100 – $5000 for receiving daily variable ROI as well as 0.1% bonus
- Plan 3: You must invest $511 – $10,000 for receiving daily variable ROI as well as 0.2% bonus
- Plan 4: You must invest $10,100 – $50,000 for receiving daily variable ROI as well as 0.25% bonus
- Plan 5: You must invest $50,100 – $100,000 for receiving daily variable ROI as well as 0.3% bonus
NasdaCoin – Referral Commission
NasadaCoin uses uni-level compensation structure to pay referral commission to its affiliates. In a uni-level compensation plan, an affiliate is placed on the top and the affiliates who are recruited personally, are placed directly under the recruiter.
For example, the affiliates who are recruited by the top affiliate are placed on level 1. Those who are recruited by level 1 affiliates are placed on level 2 and so on. This goes to an infinite series.
The referral commission is paid down the 7th level and each level gets 1% referral commission.
NasdaCoin – Residual Commission
Like many other Ponzi Scheme, this company also follows binary structure to pay referral commission to its affiliates.
In a binary structure, an affiliate is placed on the top and it splits into two positions with left and right arm.
For example, there is room for two affiliates on level 1. These two affiliates further provide room for two affiliates each making total of four affiliates on level 2 and so on.
The generated points on both sides is calculated to pay the residual commission. $100 investment of any of the sides matches for 1 point.
Every day, the new investment is calculated at the end of the day. The residual commission is fixed at 10% depending on the points generated and there is a cap for earning which is $10,000 daily.
NasdaCoin – Review
Ben: Bogus plan. Not Investing at all.
Rudy: The platform is a scam. I bought NSD points and now it shows nothing. No support at all from the team.
The Conclusion from the above Review
The following reviews very well reveal the way this company is progressing, and it is likely that it will not stay for any longer.
Like many other Ponzi Scheme, this one will meet the same fate. After earning hefty money from its affiliates, the admins will leave everyone with the sinking ship.
Unlike many other ICOs, which try to hide being a Ponzi Scheme, NasdaCoin has made no attempts to call itself anything else. On the contrary, it has stated that the company is able to generate such huge revenue by shuffling funds invested by the affiliates.
The funds invested by the new affiliates are used to pay the existing ones. This makes this complete plan, a Ponzi Scheme.
Once the new recruitment will freeze, the ROI will also stop. The affiliates investing early would be able to make some profit, however, most of the affiliates will lose money in the hands of anonymous admins.
These anonymous admins will be the first to run, leaving the disgruntled affiliates out of money. So, if you wish to save your money from this scam, do not spend in NasdaCoin.