CoinXL provide no information on their website about who owns or runs the business.

The CoinXL website domain (“”) was privately registered on June 4th, 2017.

Further research reveals Brad Cook appearing on various CoinXL affiliate marketing calls. Cook is cited as part of CoinXL’s “leadership” and speaks with authority as to the running of the company.

I wasn’t able to ascertain Cook’s specific role within CoinXL.

Brad Cook (right) first appeared on BehindMLM’s radar as the CEO of NexxStars.

NexxStars was a Ponzi scheme launched in 2014. By the end of the year NexxStars had collapsed.

Other companies Cook (right) claims to have been affiliated with include National Safety Associates (NSA), Smart Travel and Enliven.

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.

CoinXL Products

CoinXL has no retailable products or services, with affiliates only able to market CoinXL

The CoinXL Compensation Plan

CoinXL affiliates invest bitcoin on the promise of a daily 1% ROI for 150 days.

  • L1 – invest 0.100175 BTC and receive a 0.15 BTC ROI
  • L3 – invest 0.300525 BTC and receive a 0.45 BTC ROI
  • L5 – invest 0.5000875 BTC and receive a 0.75 BTC ROI
  • XL1 – invest 1.0175 BTC and receive a 1.5 BTC ROI
  • XL2 – invest 2.035 BTC and receive a 3 BTC ROI
  • XL4 – invest 4.07 BTC and receive a 6 BTC ROI
  • XL5 – invest 5.0875 BTC and receive a 7.5 BTC ROI

Referral commissions on funds invested by recruited affiliates are paid out via a binary compensation structure.

A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):

The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).

Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.

Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note that there is no limit to how deep a binary team can grow.

At the end of each day CoinXL tally up new investment volume on both sides of the binary.

Affiliates are paid a percentage of funds generated on the weaker binary side, based on how much they’ve invested:

  • LL05 – 5% binary commission capped at 0.1 BTC a day and/or 3 BTC a month
  • L1 – 6% binary commission capped at 0.2 BTC a day and/or 6 BTC a month
  • L3 – 7% binary commission capped at 0.6 BTC a day and/or 18 BTC a month
  • L5 – 9% binary commission capped at 0.1 BTC a day and/or 30 BTC a month
  • XL1 – 11% binary commission capped at 2 BTC a day and/or 60 BTC a month
  • XL2 – 13% binary commission capped at 4 BTC a day and/or 120 BTC a month
  • XL4 – 15% binary commission capped at 8 BTC a day and/or 240 BTC a month
  • XL5 – 20% binary commission capped at 10 BTC a day and/or 300 BTC a month

Joining CoinXL

Full participation in the CoinXL MLM opportunity requires an investment of between 0.100175 and  5.0875 BTC.

The more an affiliate invests the higher their income potential via the CoinXL compensation plan.

Note there is also an LL05 affiliate membership option for 0.05000875 BTC. LL05 affiliates however to do not receive a daily ROI payout.


Although not quite a double, CoinXL is yet another entry into the “invest bitcoin, do nothing and we’ll pay you back more than you invested” MLM underbelly niche.

A niche that has seen a bunch of scams launched over the past few months, all of which have collapsed well before their ROI maturity period.

The first of these type of bitcoin scams to launch was GladiaCoin.

GladiaCoin launched in March and promised a 200% bitcoin ROI in 90 days. The same bitcoin trading ruse as CoinXL are now using was trotted out.

With there obviously being no trading taking place, GladiaCoin collapsed just inside the initial 90 day ROI period.

On his Facebook profile, Brad Cook claims to be a “Certified-Q-Partner at Auto Recruiting Platform”.

“Auto Recruiting Platform” is clickable and redirects to a Facebook account bearing the name “gladiacoinspanish”.

The vast majority of GladiaCoin affiliates lost money. Which might explain why pretty much every CoinXL affiliate call I listened to began with someone moaning about losing money to  “similar companies” to CoinXL.

As with every other scam in the niche, CoinXL tout bitcoin trading as the ruse for their 1% a day ROI.

Now you can trade Bitcoin daily, 7 days a week, using CoinXL’s proven, proprietary cryptocurrency trading systems and algorithm.

CoinXL offers a trusted, transparent method of trading Bitcoin through an automated trading platform.

Despite this, no evidence of any bitcoin trading taking place is provided. Much the less any external source of revenue other than affiliate investment.

Using newly invested funds to pay off existing investors makes CoinXL a Ponzi scheme.

Pyramid recruitment is also a problem, with CoinXL affiliates paid to recruiting investing affiliates. Pay to play too, with the more a CoinXL affiliate investing directly increasing their income potential.

One particular point to take notice of is that CoinXL appears to be owned and operated from within the US. Brad Cook, for example, is based out of Texas.

Soliciting investment from US residents and promising a passive ROI, no matter the investment vehicle, is a securities offering.

A search for “CoinXL” on the SEC’s Edgar database turns up nothing, meaning Brad Cook and friends are offering unregistered securities.

While that might result in legal troubles for Cook and whoever he’s working with down the track, of more pressing importance for potential CoinXL investors is the guarantee of loss.

CoinXL quietly launched a week or so ago, meaning Cook and a bunch of people have already preloaded their positions.

Anyone who joins after the first few days of a Ponzi scheme is basically funding the ROI of those who joined before them. History has shown us it doesn’t take long for critical mass for ROI payouts to hit, resulting in widespread losses.

For you the investor that is. The owners of CoinXL meanwhile will profit handsomely.

How much you want to lose to them is up to you.