Coin Forever Review: $50 in, $3150 out Ponzi cycler
There is no information on the Coin Forever website indicating who owns or runs the business.
The Coin Forever website domain (“coinforever.com”) was privately registered on November 22nd, 2016.
Further research reveals Coin Forever affiliates identifying serial scammer Luis Castillo as the owner, however I was unable to independently verify this information.
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.
The Coin Forever Product Line
Coin Forever has no retailable products or services, with affiliates only able to market Coin Forever affiliate membership itself.
The Coin Forever Compensation Plan
The Coin Forever compensation plan sees affiliates purchase $50 positions in a five-tier 2×2 matrix cycler.
A 2×2 matrix places an affiliate at the top of a matrix, with two positions directly under them:
These two positions form the first level of the matrix. The second level of the matrix is generated by splitting each of the two positions into another two positions each (4 positions).
In total, a complete 2×2 matrix houses six positions to fill.
Positions in the matrix are filled via direct and indirect recruitment of new Coin Forever affiliates.
Once all six positions in a matrix are filled, a “cycle” is triggered and the position cycles into the next tier of the matrix as follows:
- Matrix 1 (positions cost $50) – $50 commission paid out, generates a new Matrix 1 position and cycles into Matrix 2
- Matrix 2 – $100 commission paid out, generates a new Matrix 2 position and cycles into Matrix 3
- Matrix 3 – $200 commission paid out, generates a new Matrix 3 position and cycles into Matrix 4
- Matrix 4 – $300 commission paid out, generates a new Matrix 4 position and cycles into Matrix 5
- Matrix 5 – $2500 commission paid out and generates a new Matrix 5 position
A 10% matching bonus is also paid out on personally recruited affiliate earnings, starting from Matrix 2.
Note that in order to qualify for commissions, each Coin Forever affiliate must recruit at least two position purchasing affiliates.
Joining Coin Forever
Coin Forever affiliate membership is tied to a $50 matrix position purchase.
With nothing marketed to or sold to retail customers, Coin Forever presents a simple $50 in, $3150 out Ponzi scheme.
Nothing is marketed to or sold to retail customers, with the only verifiable source of revenue entering Coin Forever matrix position purchases by affiliates.
The use of new affiliate funds to pay off existing affiliates an eventual $3150 ROI makes Coin Forever a Ponzi scheme.
As with all Ponzi schemes, once new affiliate recruitment dies off so too will new funds entering the system.
On top of that you have the phantom positions created at each cycler tier, pulling money from the system without adding any new money.
These phantom positions profit those who get in early (none moreso than the Coin Forever admin), and quickly drain the scheme of deposited funds.
Eventually new position purchases will drop off such that Coin Forever will be unable to meet its ROI obligations. At that point the admin does a runner and most Coin Forever affiliates realize they’ve lost money.
ARE THERE ANY REFUNDS?
Absolutely no refunds.
Coin Forever only accepts bitcoin, so expect victim fund recovery efforts to be slim to none.