iCoinPro Review 2.0: Crypto edu pyramid scheme reboot
A few weeks back I started receiving reports iCoinPro had rebooted.
A visit to iCoinPro’s website reveals an “important prelaunch warning”.
iCoinPro is currently in Pre-Launch. During Pre-Launch there may be some links or pages that are not yet fully functional. Please recognize this before you make a decision to join.
The Micro Profit System, Trade Finder and complete iCoinPro system are ALL fully functional, and ALL commissions in the compensation plan are being paid during Pre-Launch.
Having first reviewed it in 2017, today BehindMLM revisits iCoinPro for an updated review.
The Company
iCoinPro’s 2017 launch was headed up by founder and CEO Paul De Sousa.
De Sousa still features on iCoinPro’s website as a co-founder. He’s joined by Justin Clark, also credited as an iCoinPro co-founder.
De Sousa is based out of South Africa. Clark is based out of Florida in the US.
No corporate address is provided on iCoinpro’s website. The company’s agreement documents reference Texas and Florida.
iCoinPro’s Products
iCoinPro markets a membership which provides access to the “Micro Profit System”.
The Micro Profit system is a cryptocurrency training education platform.
While iCoin Profit represents Micro Profit System subscribers can expect “fast 1% to 10% wins, usually in less than 15 minutes”, I don’t believe the company provides any automated trading services.
For the last 5 years, our proprietary system has been teaching people how recognize simple to find signals to know when a coin is going to move, get in, take your profit, and get out.
This is in line with iCoinPro’s offering circa 2017. And the reason I’m making the distinction is it means we can rule out iCoinPro committing securities fraud.
Back in 2017 iCoinPro was charging $39.95 a month. iCoinPro’s website suggests access is a one-time $50 fee and then 39.95 a month.
iCoinPro’s Compensation Plan
iCoinPro’s compensation plan pays on membership fees and recruitment of affiliates.
iCoinPro Affiliate Ranks
There are eight affiliate ranks within iCoinPro’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Unranked – sign up as an iCoinPro affiliate
- 1 Star – refer 3 members
- 2 Star – generate a downline of at least 20 members (no more than 5 from any one recruitment leg)
- 3 Star – generate a downline of at least 100 members (no more than 25 from any one recruitment leg)
- 4 Star – generate a downline of at least 500 members (no more than 125 from any one recruitment leg)
- 5 Star – generate a downline of at least 2500 members (no more than 650 from any one recruitment leg)
- Star Elite – generate a downline of at least 25,000 members (no more than 5000 from any one recruitment leg)
- Star Presidential – generate a downline of at least 100,000 members (no more than 20,000 from any one recruitment leg)
Note that in order to count towards rank qualification, members (both retail and recruited affiliates) must be paying $39.95 a month.
Referral/Recruitment Commissions
iCoinPro pays referral and recruitment commissions 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.
iCoinPro caps payable referral and recruitment commissions at twelve.
Referral commissions are paid as a percentage of the initial $50 membership fee paid by retail members and recruited affiliates, as well as the $10 affiliate fee.
- Unranked affiliates earn 50% on level 1 (personally recruited affiliates)
- 1 Star ranked affiliates earn 50% on level 1 and 10% on level 2
- 2 Star ranked affiliates earn 50% on level 1, 10% on level 2 and 5% on levels 3 and 4
- 3 Star ranked affiliates earn 50% on level 1, 10% on level 2, 5% on levels 3 and 4, 3% on level 5 and 2% on level 6
- 4 Star ranked affiliates earn 50% on level 1, 10% on level 2, 5% on levels 3 and 4, 3% on level 5, 2% on levels 6 and 7 and 1% on level 8
- 5 Star ranked affiliates earn 50% on level 1, 10% on level 2, 5% on levels 3 and 4, 3% on level 5, 2% on levels 6 and 7 and 1% on levels 8 to 10
- Star Elite ranked affiliates earn 50% on level 1, 10% on level 2, 5% on levels 3 and 4, 3% on level 5, 2% on levels 6 and 7 and 1% on levels 8 to 11
- Star Presidential ranked affiliates earn 50% on level 1, 10% on level 2, 5% on levels 3 and 4, 3% on level 5, 2% on levels 6 and 7 and 1% on levels 8 to 12
Residual Referral/Recruitment Commissions
iCoinPro takes the $39.95 a month ongoing membership fee paid by retail customer and recruited affiliates, and uses it to pay residual commissions.
Residual referral and recruitment commissions are paid via the same unilevel team used to pay referral commissions (see above).
- Unranked affiliates earn 10% on level 1, 5% on level 2, 3% on level 3 and 2% on level 4
- 1 Star ranked affiliates earn 10% on level 1, 5% on level 2, 3% on level 3 and 2% on levels 4 and 5
- 2 Star ranked affiliates earn 10% on level 1, 5% on level 2, 3% on level 3 and 2% on levels 4 to 6
- 3 Star ranked affiliates earn 10% on level 1, 5% on level 2, 3% on level 3 and 2% on levels 4 to 7
- 4 Star ranked affiliates earn 10% on level 1, 5% on level 2, 3% on level 3 and 2% on levels 4 to 8
- 5 Star ranked affiliates earn 10% on level 1, 5% on level 2, 3% on level 3 and 2% on levels 4 to 9
- Star Elite and Star Presidential ranked affiliates earn 10% on level 1, 5% on level 2, 3% on level 3 and 2% on levels 4 to 10
Generation Bonus
iCoinPro’s Generation Bonus pays on monthly membership volume by rank.
That is to say the Generation Bonus is paid down each unilevel team until an affiliate at the same or higher rank than you is found in each leg.
This ranked affiliate caps off the first rank generation for that leg, with the second generation beginning immediately thereafter.
If no such ranked affiliate exists, the last generation of the leg extends down the full depth of the leg.
Using this generation structure, iCoinPro affiliates can earn up on up to twelve generations per unilevel team leg.
- 1 Stars earn 2% on the first generation and 1% on the second
- 2 Stars earn 2% on the first generation, 1.5% on the second, 1% on the third and 0.5% on the fourth.
- 3 Stars earn 2% on the first generation, 1.5% on the second, 1.25% on the third, 1% on the fourth, 0.75% on the fifth, 0.5% on the sixth and 0.25% on the seventh
- 4 Stars earn 2% on the first generation, 1.5% on the second, 1.25% on the third, 1% on the fourth and fifth, 0.75% on the sixth, 0.5% on the seventh and eighth and 0.25% on the ninth and tenth
- 5 Stars earn 2% on the first generation, 1.5% on the second and third, 1% on the fourth to sixth, 0.75% on the seventh and eighth, 0.5% on the ninth and tenth and 0.25% on the eleventh and twelfth
- Star Elites earn 2% on the first and second generations, 1.5% on the third to fifth generations, 1% on the sixth to eighth generations, 0.5% on the ninth and tenth generations and 0.2% on the eleventh and twelfth generations
- Star Presidentials earn 2% on the first to third generations, 1.5% on the fourth to sixth generations, 1% on the seventh to ninth generations, 0.5% on the tenth and eleventh generations and 0.25% on the twelfth generation
Quarterly Global Bonus
iCoinPro takes 10% of membership fee volume and places it into the Quarterly Global Bonus.
The Quarterly Global Bonus is split into seven smaller rank-based pools:
- 1 Star – 3%
- 2 Star – 2%
- 3 Star – 2%
- 4 Star – 1%
- 5 Star – 1%
- Star Elite – 0.5%
- Star Presidential – 0.5%
In addition to rank qualification, iCoinPro affiliates must also refer or recruit one new member each month of the qualifying quarter.
Joining iCoinPro
iCoinPro affiliate membership is $10.
iCoinPro Conclusion
iCoinPro’s legitimacy lies in whether it has more affiliates with $39.95 a month memberships over retail customers (non-affiliates). This hasn’t changed since 2017.
Given iCoinPro has had five years to demonstrate its membership is retail viable, we can weigh the probability of the company having a healthy retail memberbase.
There’s no point sugarcoating anything, iCoinPro was dead until the recent compensation plan changes.
iCoinPro’s website was getting a few thousand hits a month, most of which are likely to be affiliates.
Given this, we can write off iCoinPro’s education and Micro Profit System as being worthless. If they weren’t, iCoinPro wouldn’t have already collapsed twice and needed to be rebooted.
The worthlessness of iCoinPro’s education and Micro Profit System is further emphasized by way of what iCoinPro does with fees collected.
Each time you enroll a new person who pays for the one-time $50 Lifetime Access, $50 goes into the Fast Start Enroller Tree Commissions.
And when someone pays the one-time $10 Affiliate Sign-up fee, another $10 goes into the Fast Start Enroller Tree Commission.
When someone comes in at both, for a total of $60, the full $60 goes into the Fast Start Enroller Tree.
Everything paid into iCoinPro funds commissions.
iCoinPro also doesn’t seem to have made any changes to its education platform or Micro Profit System. All that’s changed with the reboot is its compensation plan.
While this is great for the income opportunity (affiliates), it does nothing to attract retail customers.
The FTC has made it clear: MLM companies without significant retail sales are operating as pyramid schemes. And that appears to be the case with iCoinPro.
Some iCoinPro affiliates are also drawing comparisons between iCoinPro and LiveGood.
This does iCoinPro no favors with respect to due-diligence. Livegood has a retail supplement offering but is quite obviously running and being promoted as a membership fee pyramid scheme.
If you want to take due-diligence into your own hands as a prospective iCoinPro affiliate, ask your potential upline how many active retail members they have.
Then ask them how many recruited affiliate members they have and compare. You’re looking for at least a 50:50 ratio.
And if you really want to make them uncomfortable, ask your potential iCoinPro affiliate how many Micro Profit System success stories they know.
It’s been around for years, surely there’s an army of Micro Profit System traders they can point to? Better yet, ask for evidence of your potential upline’s use of the Micro Profit System over the past few months.
I have read some rumors about LiveGood founder Ben Glinsky having a hand in iCoinPro’s reboot. I can’t rule it out but wasn’t able to find any concrete evidence.
All I was able to confirm is prior to co-founding iCoinPro, Justin Clark was a distributor in Glinsky’s previous MLM Skinny Body Care.
Getting back to iCoinPro, MLM pyramid schemes collapse when recruitment dries up.
This already happened in iCoinPro twice. With the same non retail viable membership offering, it’s going to happen again.
Oz. You used one of MY ads in this article, without giving me any credit whatsoever.
The basis for the comparison for Live Good came from a webinar where Justin Clark said that himself. Justin pointed to Live Good gaining 250,000 paid customers in a short period of time and he wanted to have similar success.
I provided an example of an iCoinPro promoter claiming its reboot was “fashioned” on LiveGood.
The point was made that iCoinPro promoters are pushing iCoinPro as an effective LiveGood clone compensation wise. Who the promoters are I provided example(s) from to make that point is irrelevant.
Considering the majority of LiveGood customers are affiliates, making it a pyramid scheme, this does not bode well on the regulatory compliance front.
Oz, that example you provided includes a PICTURE of me. That’s ME in the picture. If it’s not “relevant” who the example came from, please take down the image of me.
Ponzi scammers butthurt that their pictures are on the internet.
QUelle surprise.
Send him a cease and desist like Karatbars.
@Brian
You put your face next to your marketing copy. I didn’t add it.
If it’s bugging you and you really want to be publicly tied to promotion of a pyramid scheme I can add “(source: Brian Lathe, FaceBook)” to the caption. LMK.
Oz. Yes, please add that. Thank you.
Mike. I was never ever with Karatbars. And iCoinPro isn’t a ponzi. It isn’t promising any income. It’s simply offering training. Commissions are 100% through sales of that training and nothing else.
You don’t have to like it, but it would be nice if you cease LYING about it.
Done. Note it might take 10-20 mins for cache to update (ctrl-F5).
It looks like after ICoinPro’s multiple attempts it’s collapsing again. They say that they have 275,000 reps but there are people reporting that they have no one in the matrix in the company is exaggerative
Mike. I have been through only one compression, and in that compression, I received 88 paid members placed below me. So I don’t know what you’re talking about.