Ucoin Cash Review: ICO offering Ponzi Scheme

Ucoin Cash has taken no pain for hiding behind a pseudo service, rather has bluntly called itself a Ponzi Scheme by claiming the only source of ROI being affiliate program. As usual, the admins are anonymous provide no information about their whereabouts.
Ucoin Cash Review: ICO offering Ponzi Scheme
1 (20%) 1 vote

Uncoin Cash is one such company that do not feel the need to hide its Ponzi Scheme behind the underbelly of selling securities or other services. However, it is following the lead of other companies in keeping itself anonymous. The website provides no information about the founders of the company.

I checked the WHOIS details and could not find anything related to the address or name of the domain owner. The domain (ucoincash.co) was registered on 5th October 2017 privately. So, there was not much I could extract.

With the Alexa supervision, I was able to connect few dots and it seem that the owner of the company belongs to Vietnam (19%), which being the largest source of traffic to the website.

Ucoin Cash has not tried to hide behind any other product or service advertisement and clears that the only way of getting hold of the profits is through their affiliate membership program. There is no mention of any other source of income on the website. If you wish to join their affiliate program, you can join for free. However, this will only allow you the referral bonus. To enjoy all the perks, you need to invest at least $100.

But, the question arises, do you want to join? Therefore, I have tried to clear the fumes that may lure you into getting your hands dirty with the membership program offered at Ucoin Cash. A company that is not transparent about the owners is not worth giving a try.

Ucoin Cash – Compensation Plan

Ucoin Cash offers UCH points which was launched as an ICO last year and now costs $6.63 through their internal exchange.

These points after purchased are lent back to the platform for receiving upto 40% ROI each month.

  • Plan 1: You need to invest $100 – $1000 for receiving daily ROI which is variable for 291 days
  • Plan 2: You need to invest $1010 – $6000 for receiving variable ROI as well as 0.1% fixed ROI daily for 241 days
  • Plan 3: You need to invest $6010 – $12,000 for receiving variable ROI as well as 0.2% fixed ROI daily for 181 days
  • Plan 4: You need to invest $12,010 – $50,000 for receiving variable ROI as well as 0.25% fixed ROI daily for 121 days
  • Plan 5: You need to invest $50,010 – $100,000 for receiving variable ROI as well as 0.3% fixed ROI daily for 101 days

Ucoin Cash – Referral Commission

Ucoin Cash uses unilevel structure to pay the referral commission to its affiliates. In an unilevel structure, an affiliate is placed at the top. Personally recruited affiliates are placed right under the affiliate that recruited them.

For example, if the top affiliate recruits new affiliates, they are placed on level 1, directly under him. The affiliates recruited by any of the level 1 affiliate are placed under them on level 2 and so on till an infinite row.

The referral commission is paid till 9th level. The referral commission is paid as a percentage of funds invested by the new affiliates.

  • Level 1 (personally recruited affiliates) – 6%
  • Level 2: 3%
  • Level 3: 2%
  • Level 4: 1%
  • Levels 5 till 7: 0.5%
  • Level 8: 0.3%
  • Level 9: 0.2%

Ucoin Cash Reviews

EIsa Wang: 1 star

I just tried to sell my UCH but I wasn’t sure if the sell order went through because the numbers were still filled in. I pressed sell again and it said I had violated the terms and my account was being blocked?! I tried to log in and my account has officially been blocked with no way to get my btc out or a support email to help – and no answer on fb messenger and I can’t even log in to send a support ticket. Thanks for stealing my btc over nothing. Stay away and do not put any btc in this this platform! If you have any in there and can get it out, do so ASAP! They will steal it one way or another. So many horror stories. The people who run this platform are criminals and the price of their coin is sliding down the way to hell with them anyway.

I will consider editing my review if ucoincash unblocks my account and lets me return my btc to the wallet outside of the website.

Cesar Ramos: 1 star

Keeping my ETH hostage. They say they will release the funds 48 hours after exchange launches but still nothing. They need to be reported and held accountable. They will pay everyone back every fucking cent

Conclusion from the above review

Ucoin Cash has been bombarded with various negative reviews starting from the account issues to exchange till withdrawal. You can easily make out the way this company is working. It is not able to streamline its platform or better to say that it does not care.

If you are willing to invest, take caution and do not invest more than the amount you cannot afford to lose.

The Verdict

Ucoin Cash has not mentioned about any other source of ROI apart from the affiliate membership program, which makes it a Ponzi scheme.

The funds invested by newly recruited affiliates are used to pay the existing ones. Once the recruitment would freeze, the ROI will too freeze. The affiliates joining at start would be able to get back some profit. However, majority of the affiliates will lose their money at the hands of these scammers.

Admins of the platform will offload these worthless points to its partners to earn the real money and once the platform will collapse, these anonymous admins would take a run. So, it would be wise to keep distance from these kinds of investment which do not provide any insight about the leaders of the company.

There is nothing new on the table that Ucoin Cash is offering and is another financial scam to fraud people by making them believe that they are investing into a great altcoin which will pay them sooner.U

Leave a Reply

Your email address will not be published. Required fields are marked *