Coin Plus Review: Bitcoin mining and trading = 12% a day?
Coin Plus provide no information on their website about who owns or runs the business.
The Coin Plus website domain (“coinplus.cc”) was registered on October 12th, 2017.
Logan Lance is listed as the owner, with a residential address in London, UK also provided.
A UK incorporation certificate is provided on the Coin Plus website.
Coin Plus was incorporated in the UK as CoinPlus Bitcoin Limited on September 21st, 2017.
Reece Dave is listed as the sole officer of the company, through a residential address in Manchester.
In addition to Coin Plus, Lance has registered a number of HYIP website domains. He’s also registered and owns a few HYIP monitoring sites.
The most recent appears to be Global FX Team, a forex themed Ponzi scheme. Launched back in June, current Alexa traffic statistics for the Global FX Team website suggest it has collapsed.
This has likely prompted Lance to launch Coin Plus.
No information on Lance outside of the Coin Plus website domain registration is available.
This raises the question of whether Logan Lance and Reece Dave, as represented by Coin Plus, actually exist.
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.
Coin Plus Products
Coin Plus has no retailable products or services, with affiliates only able to market Coin Plus affiliate membership itself.
The Coin Plus Compensation Plan
Coin Plus affiliates invest bitcoin in advertised “lifetime investment plans”.
- invest 0.005 to 3 BTC and receive a 5% daily ROI
- invest 3.001 to 10 BTC and receive an 8% daily ROI
- invest 10.001 to 1000 BTC and receive a 12% daily ROI
Referral commissions are available on funds invested, paid out down two levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 2%
Joining Coin Plus
Coin Plus affiliate membership is free, however free affiliates only earn referral commissions.
Full participation in the Coin Plus income opportunity requires a minimum 0.005 BTC investment.
The ruse behind Coin Plus’ ROI revenue is “cyptocurrency trading and cloud mining operations”.
Naturally no evidence of any such trading and mining is provided, meaning the only verifiable source of revenue entering Coin Plus is new affiliate investment.
Furthermore Coin Plus’ business model fails the Ponzi logic test.
If Lance Logan (or whoever is actually running the company) was able to consistently generate a 12% daily ROI, why would he/they be soliciting investment from randoms over the internet?
Especially when the same person started up Global FX Team a few months prior to Coin Plus.
Global FX Team promises daily ROIs of up to 2.5%, purportedly through forex trading.
No evidence of forex trading is provided, but uh what? That just stopped working and now the same person/group are claiming they’re generating 12% a day?
The use of newly invested funds to pay existing investors makes Coin Plus a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment dies down so too will new funds entering the system.
That will leave Coin Plus unable to meet its ROI obligations.
This prompts a collapse, resulting in the majority of Coin Plus investors losing money.