CryptoCoin Share Review: 200% every 48 hrs Ponzi scheme
CryptoCoin Share provides no information on its website about who owns or runs the company.
CryptoCoin Share’s website domain “cryptocoinshare.uk”, was registered on September 24th, 2020.
The private domain registration was last updated on October 11th, 2021.
Perusal of the Wayback Machine reveals CryptoCoin Share’s website went live in November 2021.
This suggests the current owners took possession of the domain in October 2021.
Despite only existing as of a few months ago, on its website CryptoCoin Share falsely represents it has been running for 6210 days (~17 years).
In an attempt to appear legitimate, CryptoCoin Share provides UK incorporation details for Trimax Limited.
Whether this company has anything to do with CryptoCoin Share is unclear.
In any event, an MLM company operating or claiming to operate out of the UK is a red flag.
UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.
As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.
For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.
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.
CryptoCoin Share’s Products
CryptoCoin Share has no retailable products or services.
Affiliates are only able to market CryptoCoin Share affiliate membership itself.
CryptoCoin Share’s Compensation Plan
CryptoCoin Share affiliates invest USD and cryptocurrency on the promise of advertised returns.
- invest $20 to $100 and receive 120% in 24 hours
- invest $100 to $1000 and receive 140% in 48 hours
- invest $500 or more and receive 200% after 24 hours
- invest $1000 or more and receive 300% after 72 hours
Referral commissions on invested funds are paid down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 3%
- level 3 – 1%
Joining CryptoCoin Share
CryptoCoin Share affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $20 investment in USD or cryptocurrency.
Cryptocurrencies supported by CryptoCoin Share include bitcoin, litecoin, ehtereum, dash and bitcoin cash.
CryptoCoin Share Conclusion
CryptoCoin Share claims it generates revenue through a “team of professional traders”.
No evidence of trading or a team of traders is provided.
Furthermore CryptoCoin Share’s business model fails the Ponzi logic test.
If the anonymous admins running CryptoCoin Share were able to generate 200% every 48 hours, surely they’d just trade for themselves and retire rich in a few months?
As it stands, the only verifiable source of revenue entering CryptoCoin Share is new investment.
Using new investment to pay affiliate withdrawals makes CryptoCoin Share a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve CryptoCoin Share of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees the majority of participants lose money.