ThornCoin website provides no lead about the names of the founders of the company. The WHOIS check on the domain (thornCoin.com) of the website wasn’t helpful either in finding the name and the address of the owner of the domain. The domain was registered privately on 21st December 2017.
The company claims to own trading bot and talks about its involvement is arbitrage trading, marketing and much more. However, failure to prove any such claims leaves us with only viable option for paying affiliates, is the affiliate recruitment program.
If you wish to join the affiliate program, you can join it for free. But, this would only give you access to the referral commission. In case, you are interested in the full participation, you need to invest a minimum of $100.
With all these information in hand, I believe that a company, even if offering huge attractions, should be kept at bay when it is not transparent. Especially, when it is an MLM company offering no other retailable products apart from the autoship program.
ThornCoin – Compensation Plan
ThornCoin offers THRN points which ranges from 0.50 dollars to 1.20 dollars each and these points are further lent back to the ThornCoin anonymous owners in the promise of huge ROI.
- Plan 1: You need to invest $100 – $1000 for receiving up to 43% of monthly ROI for 260 days
- Plan 2: You need to invest $1001 – $5000 for receiving up to 43% monthly ROI as well as 0.05% ROI daily for 180 days
- Plan 3: You need to invest $5001 – $10,000 for receiving up to 43% monthly ROI as well as 0.1% ROI daily for 160 days
- Plan 3: You need to invest $10,001 – $20,000 for receiving up to 43% monthly ROI as well as 0.15% ROI daily for 150 days
- Plan 4: You need to invest $20,001 or more for receiving up to 43% monthly ROI as well as 0.2% ROI daily for 120 days
There is a locking period for the funds invested into the platform:
- $100 – $1000 funds invested: 180 days
- $1001 – $5000 funds invested: 90 days
- $5001 – $10,000 funds invested: 80 days
- $10,001 – $20,000 funds invested: 75 days
- $20,001 or more funds invested: 60 days
Incase, an affiliate withdraws the amount invested before the locking period, he or she is charged 25% fee.
ThornCoin – Referral Commission
ThornCoin uses unilevel compensation structure to pay referral commission to its affiliates. In an unilevel structure, an affiliate is placed at the top order. The personally recruited affiliates of top affiliate are placed on level 1, directly under the top affiliate. The affiliates recruited by any of the level 1 affiliate, are placed on level 2, directly under the one who recruited them and so on.
This goes for an infinite number of rows. ThornCoin pay affiliates till 3rd level of recruitment.
- Level 1: 8%
- Level 2: 4%
- Level 3: 1%
Md Arifur Rahman: 1 star
They charges 0.004 btc fee. But still my withdrawal pending. They manually process that withdrawal. That means they will get 0.003 btc profit every transaction. Now miner fee normally 0.001 btc. On maximum wallets. But throncoin scammers charges 0.003 btc extra for their own benefit. They looks like standard scammer.
재인: 1 star
1 star rate from me because I’m so disappointed. I think I will get old fast because of you. $o annoyed right now. I thought you guys have the best support and are concern to your investors but I was wrong. Your support keep on ignoring my concern.
I deposit small amount of btc to your website 4 days ago to participate in ico but I didn’t received my btc it is confirmed in the blockchain and I input the right btc address. I sent email to thorncoin support…That guy name James replied saying that you guys will refund my btc. A day passed still no btc arrived in my account I sent a msg again to follow up but no reply. I sent several mails today still no respond.
And just like that…I missed every round of the ico… The final round will start in a few hours. I don’t think I will be able to participate because your website sucks it can’t even received btc. Your support lied about the refund.
Had 2nd thought whether I will send btc or not since my plan is to buy more coins but decided to wait the refund first. Good thing I decided not to because there’s a big % that btc will not be able reflect in my account again because your website seems to have a problem.
Conclusion from the above Reviews:
The platform does not seem stable. People are having trouble with the transactions. The refund was a lie too. There are so many concerns that makes this company, one among those who are running these websites for personal gains.
I believe that it would be worthless to spend your penny on these scammers.
The company claims to have trading bot and mentions that it is involved in marketing and arbitrage trading for generating ROI for affiliates.
First of all, there is no evidence to back these claims have been provided. In addition, if we consider all these claims to be true, why don’t they keep all these profits to themselves and are trying to share it with random users on internet.
Affiliate program being the only source of ROI, makes ThornCoin a Ponzi Scheme. As it always happens with a Ponzi scheme, the recruitment will freeze after certain time and subsequently the ROI will stop as well. This is when the platform will collapse, and the anonymous admins will run away keeping all the left money to themselves.
And, trust me, this will make them rich. Those who would join early would be able to make some profit and majority of the affiliates would be left without money. So, stay away from ThornCoin, its just a trap and nothing else.