AMZCoin Review: AMZ Ponzi points scheme
AMZCoin provides no information on its website about who owns or runs the company.
AMZCoin’s website domain (“amzcoin.technology”) was registered in October 2019.
The registration is marked private, save for disclosing Portugal in the provided address.
As per a whitepaper hosted on AMZCoin’s website;
VISIONARIA is a Business Hub that makes investments in several sectors to create and launch AMZcoin.
Visionaria is presented as the parent company behind AMZCoin, which in turn is headed up by CEO Andre Cunha (right).
As per his personal Facebook profile, Cunha is based out of Portugal. This fits with AMZCoin’s website domain registration.
Despite being operated from Europe however, AMZCoin is currently being primarily promoted in Indonesia.
At the time of publication Alexa cites Indonesia as the top source of traffic to AMZCoin’we website (31%).
Possibly due to language-barriers, I was unable to put together an MLM history on Cunha.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
AMZCoin has no retailable products or services, with affiliates only able to market AMZCoin affiliate membership itself.
AMZCoin’s Compensation Plan
AMZCoin affiliates invest in AMZ.
AMZCoin affiliates who invest in over 10,000 AMZ can park their coins with the company in exchange for advertised returns:
- invest for 3 months and receive a 0.5% ROI per month
- invest for 6 months and receive a 1% monthly ROI
- invest for 12 months and receive a 2% monthly ROI
- invest for 18 months and receive a 3% monthly ROI
- invest for 24 months and receive a 4% monthly ROI
Note that returns are paid in AMZ. AMZ is not publicly listed and is controlled by AMZCoin.
Referral commissions are paid on funds invested in AMZ down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 10%
- levels 2 and 3 – 5%
AMZCoin’s website states that referral commissions
are paid in euros and you can withdraw them at any time via Bitcoin cryptocurrency.
AMZCoin affiliate membership is free.
AMZCoin presents itself as yet another pointless MLM shitcoin.
AMZCoin arises to counter a need for VISIONARIA, to facilitate payments and receipts from various businesses and platforms, in which case AMZ is the method that makes it much easier for our business customers to pay and receive funds.
Why would you use AMZCoin over any other payment method?
Well unless you’re participating in the attached income opportunity, you wouldn’t.
AMZ is built on EOSIO, which is different from the usual ERC-20 MLM shitcoins we see.
In practice shitcoins can be created on both platforms relatively quickly and at little to no cost.
Primary concern on the regulatory front is AMZCoin functions as a Ponzi points scheme. You invest, AMZCoin sets the value of AMZ and you cash out through an internal exchange.
AMZCoin use recycle invested funds to pay withdrawal requests, which defines AMZCoin as a Ponzi scheme.
Of secondary concern is AMZCoin committing securities fraud.
Why should I invest in AMZ Coin?
You should invest in AMZCoin because it was launched by a business group that is present in various sectors of products or online and offline services.
As above, AMZCoin openly admits their MLM opportunity is a passive investment scheme.
This requires AMZCoin to register its AMZ securities offering with financial regulators.
AMZCoin provides no indication it has done so in any market it solicits investment in (Indonesia and Portugal being the obvious one), meaning the company operates illegally.
Outside of securities fraud, standard MLM Ponzi/pyramid rules apply.
Being an MLM shitcoin, when new investment runs dry expect either a public listing exit-scam, or Andre Cunha and his partners to simply disappear.