Coiner Ex provide no information on their website about who owns or runs the company.

The Coiner Ex website domain (“coiner-ex.com”) was privately registered on January 6th, 2018.

In the “about us” section of their website, Coiner Ex provide an incorporation certificate for “Coiner Ex Limited”.

Coiner Ex Limited was incorporated in the UK on January 12th, 2018.

Further research reveals the London address used to incorporate Coiner Ex Limited actually belongs to Alami International.

On their website Alami International state they are an importer and exporter of “a comprehensive range of products”.

As far as I can tell, Alami International has nothing to do with Coiner Ex Limited.

Coiner Ex Limited has one Director, Felix Butler.

No information outside of the Coiner Ex Limited incorporation ties Butler to the company.

This strongly suggests he does not exist.

UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.

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.

Coiner Ex Products

Coiner Ex has no retailable products or services, with affiliates only able to market Coiner Ex affiliate membership itself.

The Coiner Ex Compensation Plan

Coiner Ex affiliates invest funds on the promise of an advertised ROI.

  • Hourly Plan – invest $8 to $6000 and receive a 4% hourly ROI for 33 hours (132%)
  • 3 Daily Plan – invest $501 to $10,000 and receive a 240% ROI in 3 days
  • 1 Day Plan – invest $8 to $6000 and receive a 150% ROI in 24 hours
  • VIP Plan – invest $1000 to $10,000 and receive a 200% ROI in 5 hours

Coiner Ex pay referral commissions via a unilevel compensation structure.

A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

Coiner Ex cap payable unilevel levels at five, with commissions paid out as a percentage of funds invested across these five levels as follows:

  • level 1 (personally recruited affiliates) – 3%
  • levels 2 and 3 – 1%
  • level 4 – 0.5%
  • level 5 – 0.2%

Joining Coiner Ex

Coiner Ex affiliate membership is free, however free affiliates can only earn referral commissions.

Full participation in the Coiner Ex MLM opportunity requires a minimum $8 investment.

Conclusion

Coiner Ex claim to generate external ROI revenue through a “team of pros in the field of altcoins trading on cryptocurrency markets”.

No evidence of Coiner Ex engaging cryptocurrency trading or generating any other external ROI revenue source is provided.

Furthermore Coiner Ex’s claims fail the Ponzi logic test.

If anyone was able to legitimately generate a consistent 200% ROI in five hours (that’s 960% a day), they wouldn’t be wasting their time soliciting investment from randoms over the internet.

The reality of Coiner Ex’s business model is that newly invested funds is the sole verifiable source of revenue entering the company.

Using newly invested funds to pay existing investors makes Coiner Ex a Ponzi scheme.

As with all Ponzi schemes, once affiliate recruitment dies down so too will new investment.

This will starve Coiner Ex of ROI revenue, eventually prompting a collapse.

The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.