OneCoin add €25,000 package, suspend withdrawals
The last investment increase OneCoin introduced was their €18,800 Festival package.
Announced last November, the Festival package was a limited time promotion that ended recently.
Potentially strapped for cash as withdrawal requests exponentially increase each month, OneCoin have just announced a new €25,000 investment package.
Dubbed the Infinity package, for €25,000 EUR OneCoin affiliates get 300,000 tokens.
These tokens are supposed to be convertable into OneCoins, which can then be exchanged through OneCoin for cash, however posts from affiliates on the OneCoin website reveal withdrawals have been pending for weeks.
February 23rd: Are you able to sell coins? my orders are ALWAYS expired even if I stay between daily limits.
February 25th: I don’t know how the onecoin exchange works but it’s very difficult to sell onecoins.
This month I have been trying to sell onecoin every day mon to fri but it got sold only on 2 days i.e. 10th & 15th Feb. Why is that?
In Feb I could sell onecoin in the exchange only 3 times. At this rate it will take me 12 years to sell all my onecoins.
February 27th: Anybody tell me why the coin withdrawal didn’t credit in cash account only shows pending..
February 27th: Hi. Why my coins doesn`t sold? I have 5 application… And i wait week.. It`s not normal.
February 29th: (responding to above): its always pending and expired.
February 28th: withdrawal didn’t credit in cash account anybody tell me reason?
February 29th: (responding to above): we have the same case.. it takes more than a month but it says after 10 banking days upon withdrawal.
March 1st: (responding to above): mine since last Nov….still nowhere to be found in my account yet.
OneCoin affiliates making withdrawal requests must do so via the OneCoin exchange. That’s where the above OneCoin affiliates are having problems.
Unfortunately those problems look set to continue, with OneCoin also announcing they’re shutting down the exchange for two weeks.
Please note that the OneCoin exchange enters maintenance mode from March 1st, 2016 until March 15th, 2016.
Putting aside the fact that this maintenance could be done on a cloned site before going live, the idea that OneCoin have to spend two weeks conducting maintenance on the exchange is ridiculous.
All the OneCoin exchange does is process affiliate withdrawals and adjust their OneCoin balances accordingly. Maintenance on that takes two weeks? Please.
Another sign OneCoin are desperately trying to fend off withdrawals, is the offered Infinity+ option in the Infinity Package.
In exchange for an “extra split”, those who opt for Infinity+ have their OneCoins locked away in CoinSafe for two years.
Oh and did I mention they’re also jacking up the cost of their existing investment packages?
The price of packages must reflect the growth and development of OneCoin.
With all the opportunities offered by the company, OneCoin grows bigger and stronger with each passing day!
Besides all benefits that this development brings, we need to make sure that, among other things, the mining queue will not get longer, nor there will be over-subscription of the coin.
With that in mind, from April 1st, 2016 we will increase the prices of all our packages by 10% thus aiming to have a stable price of the coin.
How charging more for OneCoin investment packages equates to a “stable price of the coin”, I have no idea. On the money side of things though that’s an instant 10% increase in newly invested funds going forward.
Combine that with the new €25,000 “no withdrawals for two years” investment package and well, I suppose a collapse might be put off for a few months yet.
What then you ask?
The increase of package prices is part of the company’s overall business strategy, meaning that in the future we will continue to review the prices of the packages every three months.
Every three months jack up the minimum investment amount, in order to cover exponentially increasing withdrawal requests.
When viewed through the Ponzi lens, it’s hard not to ignore the fact that all of OneCoin’s recent announcements are aimed at discouraging and/or prohibiting affiliates from withdrawing funds.
In the meantime, existing OneCoin investors will no doubt be nervously counting down the OneCoin exchange re-opening.