Global Coin Community Help Review: GCR Coin Ponzi scheme
Global Coin Community Help was founded by Kwaku Damete-kumi and claims to be a ‘community of like-minded people all over the world who will help each other’.
Damete-kumi first appeared on BehindMLM’s radar as the CEO and owner of KDK Trade Charity Club back in February.
Those who signed up gifted a participation fee to the KDK Trade Charity Club affiliate who recruited them. They were then required to recruit victims of their own in order to recuperate their losses.
In addition to running KDK Trade Charity Club, Damete-kumi was also an investor in RevShareNow ($2 to $40 HYIP Ponzi scheme), Unascos (formerly uFun Club), Fort Ad Pays, iCharity Club (Ponzi-based cash gifting), Global Currency Reserve and MMM Global (collapsed Ponzi scheme).
Whereas Global Coin Community Help primarily targets affiliates in Africa, Damete-kumi himself is based in London, UK.
Read on for a full review of the Global Coin Community Help MLM opportunity.
The Global Coin Community Help Product Line
Global Coin Community Help has no retailable products or services, with affiliates only able to market Global Coin Community Help affiliate membership itself.
The Global Coin Community Help Compensation Plan
Global Coin Community Help sees affiliates sign up and invest $50 to $10,000 on the promise of an advertised 100% ROI for five months.
Note that before a Global Coin Community Help affiliate can withdraw their ROI, they must pay a withdrawal fee equal to the amount they originally invested.
Withdrawal requests are capped at $1000 per request.
A 5% referral commission is paid on investments by personally recruited affiliates.
Residual commissions in Global Coin Community Help 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 has two positions, with subsequent levels generated by splitting each position on the previous level into another two positions each.
Positions in the binary are filled via direct and indirect recruitment of Global Coin Community Help affiliates.
Commissions are paid out at a rate of 1% of funds invested through an affiliate’s weaker binary side. The Global Coin Community Help compensation plan doesn’t state how often binary commissions are paid.
Note that in order to qualify for binary commissions, a Global Coin Community Help affiliate must recruit five affiliates who have each invested at least $500.
Joining Global Coin Community Help
Affiliate membership with Global Coin Community Help is free, however affiliate must invest between $50 to $10,000 if they wish to participate in the attached income opportunity.
After his first attempt to offload worthless GCR Coins went nowhere, Kwaku Damete-kumi is back with another MLM underbelly scheme.
Global Coin Community Help is more closely aligned with MMM Global and the other “provide help, get help” Ponzi scams than KDK Trade Charity Club.
Under the guise of “helping” people, Global Coin Community Help affiliates invest funds which the company claims are
used to pay other participants in the community who request for Get Help so that the community can be sustained for a long term.
Those affiliates then have to wait for new affiliates to join so they can in turn steal their money.
Global Coin Community Help’s use of newly invested funds to pay off existing investors meanwhile makes it a Ponzi scheme.
Payment methods accepted by the scheme include bitcoin, Perfect Money and GCR Coin.
The use of GCR Coin is likely to only be used by Damete-kumi and friends, who will withdraw funds through either bitcoin or Perfect Money.
With there being no demand for GCR Coin, expect Global Coin Reserve to collapse once Damete-kumi and friends have offloaded their GCR Coins to the extent that their ROI withdrawals have exhausted invested funds.
The five-month timeline for withdrawal requests gives Damete-kumi ample time to make off with invested funds.
The use of a withdrawal fee equal to the initial amount invested means most, if not all, Global Coin Community Help affiliates will not request a withdrawal until their entire ROI has been paid out.
They’re also limited to $1000 per request, which again works to Damete-kumi’s advantage.
All that said, once recruitment of new investors dies down Global Coin Community Help will collapse.
Looking at KDK Trade Charity Club’s lifespan, realistically this will probably happen long before initial investors hit their 5 month ROI limit.