GiraCoin Review: GiraCoin cryptocurrency Ponzi points
There is no information on the GiraCoin website indicating who owns or runs the business.
GiraCoin appears to be owned by Gira Financial Group AG, who claim to be based out of Switzerland.
Gira Financial Group AG do have a website, however at the time of publication it’s little more than a contact form.
The GiraCoin website domain (“giracoin.com”) was registered on the 5th of June, 2016. Ramon Simon is listed as the owner and an address in Hergiswil, Switzerland is also provided.
Further research reveals GiraCoin affiliates citing Ramon Simon as the owner of GiraCoin. Why this is information is not provided on the GiraCoin website itself is unclear.
Possibly due to language-barriers, I was unable to put together an MLM history for Simon.
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 GiraCoin Product Line
GiraCoin has no retailable products or services, with affiliates only able to market GiraCoin affiliate membership itself.
The GiraCoin Compensation Plan
GiraCoin’s compensation plan sees affiliates invest on the promise of a passive ROI. GiraCoin affiliates are also paid to recruit new GiraCoin affiliates who invest.
GiraCoin Ponzi Points
GiraCoin Ponzi points are obtained via investment into eight GiraCoin token packages:
- Starter – invest €50 EUR and receive 500 tokens
- Professional – invest €120 EUR and receive 1200 tokens
- Consultant – invest €550 EUR and receive 5500 tokens
- Expert – invest €1200 EUR and receive 12,000 tokens
- Broker – invest €3000 EUR and receive 30,000 tokens
- Manager – invest €6000 EUR and receive 65,000 tokens
- Principal – invest €9000 EUR and receive 100,000 tokens
- Executive – invest €13,000 EUR and receive 150,000 tokens
- Director – invest €26,000 EUR and receive 300,000 tokens
- President – invest €33,333 EUR and receive 400,000 tokens
- Ruler – invest €111,111 EUR and receive 1,400,000 tokens
Tokens are converted into GiraCoins, based on an arbitrary value set by GiraCoin itself.
A referral commission of 10% is paid when personally recruited affiliates invest in GiraCoin Ponzi points.
Residual Commissions
Residual commissions in GiraCoin are paid out 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.
GiraCoin cap payable unilevel levels at eleven, with commissions paid out as a percentage of funds invested across these eleven levels:
- level 1 (personally recruited affiliates) – 5%
- level 2 – 10%
- level 3 – 15%
- level 4 – 16%
- level 5 – 10%
- level 6 – 9%
- level 7 – 5%
- level 8 – 4%
- level 9 – 3%
- level 10 – 2%
- levels 11 to 20 – 1%
Note that the 5% on level 1 is in addition to the 10% direct commission.
Partner Bonus
The Partner Bonus is an additional percentage bonus paid out on investment by personally recruited affiliates.
How much of a percentage is paid out is determined by how much an affiliate’s personally recruited affiliates have invested:
- €240 EUR invested = 1%
- €800 EUR invested = 2%
- €6400 EUR invested = 4%
- €9600 EUR invested = 6%
- €24,000 EUR invested = 8%
- €40,000 EUR invested = 10%
- €96,000 EUR invested = 12%
- €224,000 EUR invested = 14%
- €480,000 EUR invested = 16%
- €800,000 EUR invested = 18%
- €4,800,000 EUR invested = 20%
World Pool Bonus
GiraCoin’s World Pools are percentages of total funds invested by GiraCoin affiliates.
Shares in each pool are obtained via the following qualification criteria:
- Silver Pool (1%) – have a total downline investment volume of €80,000 EUR and have recruited at least one affiliate who has invested in a Principal package (€9000 EUR)
- Platinum Pool (2%) – have a total downline investment volume of €200,000 EUR and have recruited at least two affiliates who have invested in Executive packages (€13,000 EUR each)
- Gold Pool (3%) – have a total downline investment volume of €400,000 EUR and have recruited at least three affiliates who have invested in Director packages (€26,000 EUR each)
- Sapphire Pool (4%) – have a total downline investment volume of €800,000 EUR and have recruited at least four affiliates who have invested in President packages (€33,333 EUR each)
- Emerald Pool (5%) – have a total downline investment volume of €4,000,000 EUR and have recruited at least five affiliates who have invested in Ruler packages (€111,111 EUR each)
- Ruby Pool (6%) – have a total downline investment volume of €8,000,000 EUR and have recruited at least one affiliate who has qualified for a share in the Emerald Pool
- Red Diamond Pool (7%) – have a total downline investment volume of €40,000,000 EUR and have recruited at least one affiliate who has qualified for a share in the Ruby Pool
- Champion Pool (8%) – have a total downline investment volume of €80,000,000 EUR and have recruited at least one affiliate who has qualified for a share in the Red Diamond Pool
Joining GiraCoin
GiraCoin affiliate membership is €30 EUR.
Full participation in the GiraCoin compensation plan also requires investment in one of the following token packages:
- Starter – €50 EUR
- Professional – €120 EUR
- Consultant – €550 EUR
- Expert – €1200 EUR
- Broker – €3000 EUR
- Manager – €6000 EUR
- Principal – €9000 EUR
- Executive – €13,000 EUR
- Director – €26,000 EUR
- President – €33,333 EUR
- Ruler – €111,111 EUR
Conclusion
You’ve probably heard of Bitcoin. So far, its enormous rise in value has been unique. But, without the necessary computer acumen, it wasn’t possible to get in at the start.
That’s where Giracoin comes in. It provides partners with its own whollyowned mining platform.
Using the tired Bitcoin comparisons to gain marketing leverage, GiraCoin is another entry into the burgeoning MLM Ponzi points niche.
GiraCoins are premined by Gira Financial Group AG, who sell them to GiraCoin affiliates on the promise of increasing value.
In cryptocurrency circles this is known as a classic “pump and dump” scheme.
The reality is that outside of the GiraCoin MLM opportunity, GiraCoins are worthless.
GiraCoin attempt to address this by promising the launch of GiraBuy, an e-commerce platform to be filled with third-party merchants, sometime in early 2017.
The problem?
Legitimate merchants aren’t going to accept worthless Ponzi points as payment for goods and services.
The core of GiraCoin is the company selling points to affiliates, who cash these out via an internal exchange called GiraPay (which itself is “coming soon”).
These withdrawal requests are based on the increasing internal value of GiraCoins, which Gira Financial Group AG arbitrarily increase to encourage new investment.
The withdrawal requests are funded out of subsequently invested funds, making GiraCoin a Ponzi scheme.
The rest of the GiraCoin is pyramid recruitment, as without a constant stream of newly invested funds GiraCoin will be unable to process withdrawal requests.
As with all Ponzi schemes, once new affiliate recruitment slows down so too will new funds entering the system.
At that point GiraCoin will be unable to process withdrawal requests, leaving affiliates stuck in a perpetual cycle of stalled withdrawal requests.
While Ramon Simon and friends quietly disappear with investor funds they’ve been stashing away, this will go on for as long as affiliates refuse to believe GiraCoin has collapsed and they’ve been scammed.
simply put Oz – it is yet another cryptocurrency scam.
Got approached before it launched and immediately dismissed it.
something is not so clear for me. in my opinion the dont need a constant stream of new funds, if there are no sales are also no bonus payments. so we should get the company time to show us if its works or not.
at the moment, your blog is nice to read but not written on facts, so for me are informations about the sro certification and the swiss law is missing. switzerland will bring out very soon a “fintech licencse” what is like a Bank-licence “light”.
the sro certificate is no so easy to get and more infos about the law is absolutly nessesary to write a serious blog.
What sales? You’re investing in ponzi points.
There’s nothing more factual about an MLM company than it’s compensation plan. That you’re in denial about GiraCoin’s Ponzi points is another matter.
When you’re engaged in Ponzi fraud, who gives a shit?
You can bring up all the strawman justifications you want, at the end of the day GiraCoin is paying on chain-recruitment and Ponzi ROIs. Until that is rectified nothing else matters.
hello,
Giracoin is a very good cryptocurrency compared to edinar scam.
they have official documen even in nigeria.
Giracoin isn’t a cryptocurrency, it’s a Ponzi points scam – just like Edinar.
Worth as much as the toilet paper they were written on.
I have started to investigate Giracoin -to establish due diligence -partly because the pioneers were involved in OneCoin and also because the level of presentation was so poor when I was first approached .
The nub is it is a closed ,centralised system and they exclusively mine their own coins. You get your cash from recruitment!!!
Don’t think it is worth putting faith in that . Yes sure Switzerland has a stereotypic image of conservatism etc but it is about secrecy.
Why not publish the names of the Officers of the Company -GIAN CARLO COLLENBERG is the CEO.
IF IT LOOKS LIKE A DUCK ETC
hi I personally attent their event in Pakistan. your blog is not mentioning correct detail they have documents and registered under finema.
You attended a GiraCoin marketing event? Well that settles it then I guess…
Yeah so um, “having documents” doesn’t justify Ponzi fraud. 10-20 GBP and you too can have your very own UK incorporation certificate.
And the hell is “finema”? Sounds like something they’d do to Ponzi scammers in prison.
So did Bernie Madoff, so did AdSurf Daily, so did Zeek Rewards, so did Charles Scoville, so does virtually every ponzi and pyramid fraud currently on the ‘net.
Your point being ???
It wouldn’t be the first or last time scam companies created fake documents or misrepresented documents to mean more than they really do.
The uFUN scam in Thailand and Malaysia went as far as opened a fake bank with “employees” to look busy. And let’s not forget GetEasy scheme in Europe where they faked a whole company to pretend to be a real company’s “Asia office” complete with world-wide patent registrations.
Just because they *say* they are registered doesn’t always mean they really did. And even if they did, that does not guarantee they are actually doing legitimate business.
Ever heard of Sibtul Hasan Shah, aka Double Shah of Pakistan? 7 BILLION Rupees ponzi scammer, who actually did buy gasoline stations and more.
Did he conduct some legitimate business? Of course. But he’s a scammer, no matter how legitimate he looked or how much legitimate business he did.
As you may be aware, there are an endless number of fraudulent cryptocurrencies in the market, and I would like to bring to your notice the fact that Giracoin/Girauno is one such cryptocurrency.
You would be well advised to carry out a thorough background check of the founders – Gian-Carlo Collenberg, Ramon Simon – of the cryptocurrency and their credentials, before taking a call on enlisting them on an exchange as reputed as Dobitrade. Do read through the inputs below and check the facts listed to support and justify this claim.
(Ozedit: Copypasta removed)
Yeah, we kinda knew that back in 2016 when we published this review. Thanks for the belated updates though, sorry for your loss.
And please don’t copypaste from elsewhere without attribution.