EasyCoins Review: Suspicious bitcoin mining pool, probably Ponzi
There is no information on the Easycoins website indicating who owns or runs the business.
The EasyCoins website domain was registered on the 1st of May 2016, however the domain registration is set to private.
Alexa currently estimate that 54.2% of traffic to the EasyCoins domain originates out of Colombia, strongly suggesting that this is where the company is likely being operated from.
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 EasyCoins Product Line
Easycoins has no retailable products or services, with affiliates only able to market Easycoins affiliate membership itself.
The EasyCoins Compensation Plan
The EasyCoins compensation plan sees affiliates invest $250 to $1000 on the promise of a daily ROI.
How much of a ROI is paid out is determined by how much an EasyCoins affiliate invests:
- Bronze affiliates invest $250 and receive at least 0.9% a day for 225 days
- Silver affiliates invest $500 and receive at least 0.9% a day for 225 days
- Gold affiliates invest $1000 and receive at least 0.9% a day for 300 days
EasyCoins affiliates receive 20% of funds invested by personally recruited affiliates.
Residual Recruitment Commissions (matrix)
Residual matrix recruitment commissions in EasyCoins are paid out via a 3×18 matrix compensation structure.
A 3×18 matrix places an affiliate at the top of a matrix, with three positions directly under them:
These initial three positions form the first level of the matrix, with the second level generated by splitting each of the three positions into another three positions each (9 positions).
In this manner subsequent levels of the matrix are generated as required, with each new level housing three times as many positions as the previous level.
A 3×18 matrix extends down eighteen levels in total, with a complete 3×18 matrix housing 581,130,732 positions.
Positions in the matrix are filled via direct and indirect recruitment of new EasyCoins affiliates, with affiliates paid $10 per affiliate recruited into their matrix.
Note that how much an affiliate invests when they signs up determines how many level of the matrix they are able to earn on:
- Bronze affiliates can earn on levels 1 to 5
- Silver affiliates can earn on levels 1 to 9 and
- Gold affiliates can earn on all 18 available levels
Residual Recruitment Commissions (binary)
Residual binary recruitment commissions in EasyCoins 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 second level of the binary team is generated by splitting each of the first two position into another two positions each (4 positions).
The third level of the binary team is generated by again splitting each level 2 position into another two positions each (8 positions).
Subsequent levels of the binary team are generated as required in the same manner, with each new level housing twice as many positions as the previous level.
Each day investment volume across both sides of the binary is tallied up, with EasyCoins affiliates paid 10% of funds matched on both sides of the binary.
Note that based on how much an EasyCoins affiliate invested when they signed up, the following daily binary commission caps apply:
- Bronze affiliates can earn up to $500 a day
- Silver affiliates can earn up to $1000 a day
- Gold affiliates can earn up to $10,000 a day
Affiliate membership with EasyCoins is tied to an investment of $250 to $1000.
- Bronze – $250
- Silver – $500
- Gold – $1000
The primary difference between the three memberships is income potential through the EasyCoins compensation plan.
The crux of legitimacy for EasyCoins’ mining operations is a 1:1 verification that funds generated through bitcoin mining are being paid as a daily ROI to affiliates.
The problem with EasyCoins’ linear ROIs is that bitcoin mining itself is not linear. Legitimate bitcoin mining cannot guarantee a consistent 0.9% daily ROI, yet this is what EasyCoins are promising.
The rest of the EasyCoins compensation plan is chain-recruitment, which drags the company into pyramid scheme territory.
Getting back to the mining, while we can’t independently verify that EasyCoins are indeed paying ROIs from bitcoin mining, there are some indicators that the ROIs paid out aren’t above-board.
First and foremost is the lack of information about who owns the company. This isn’t how legitimate MLM companies are run.
Second is the blatant plagiarism of EasyCoins’ “About us” page:
The following is from the bitcoin exchange Kraken’s website. See if you can tell where EasyCoins stole content from their website from:
I mean really, the EasyCoins website domain was only registered a few months ago. What, they were too lazy to even change the year Kraken was founded?
If EasyCoins can’t even create legitimate website content, what’s the bet all they are doing is shuffling newly invested funds around to pay off existing investors?
As a prospective EasyCoins affiliate, ask your potential upline for a dollar for dollar accounting of bitcoin mining that correlates with their daily ROI payout.
If they can’t provide one, run. You’ve just dodged losing your money in a Ponzi scheme.