UR Network Team Review: UrCoin Ponzi points cryptocurrency
Before we go any further I need to clarify that there are two UR Coin companies out there.
The one reviewed here operates from “urnetworkteam.com” and “ur-coin.com” and is an MLM opportunity.
The other company operates from “ur.technology”, is based out of the US and as far as I can tell is not an MLM opportunity.
There doesn’t appear to be a link between the two companies. From here on out “UR Coin” in this review references the first company only.
There is no information on the UR Network Team website indicating who owns or runs the business.
The UR Network Team website domain (“urnetworkteam.com”) was registered on August 3rd, 2016. The UrCoin website domain (“ur-coin.com”) was registered on July 24th, 2016.
Ioannis Ioannou of UR Network Services is listed as the owner of both domains, with an incomplete address in the UAE also provided.
A PO Box address in the UAE is provided on the Ur Network Team website.
A corporate address in Dubai is provided on the UrCoin website, however further research reveals this to be a virtual address provided by eOffice.
The only independent information I’ve been able to source on Ioannou is that UR Network Team appears to be operated of Cyprus:
Whether Ioannou is based out of Cyprus is unclear.
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 UR Network Team Product Line
UR Network Team has no retailable products or services, with affiliates only able to market UR Network Team affiliate membership itself.
Bundled with UR Network Team affiliate membership is access to UR Academy,
an innovative e-learning platform covering a broad range of financial topics including trading, the stock exchange, cryptocurrency, financial analysis, asset management and more.
The UR Network Team Compensation Plan
The UR Network compensation plan sees affiliates invest in packages:
- Beginner – €99 EUR
- Advanced – €600 EUR
- Certified – €1600 EUR
- Trader – €5500 EUR
- Master – €11750 EUR
- Ultimate – €22500 EUR
Bundled with each package are tokens which can be converted into UrCoins. MLM commissions are tied to the recruitment of new UR Network Team affiliates.
40% of all commissions earned in UR Network Team must be invested into UrCoins.
Direct Recruitment Commission
When a new UR Network Team affiliate signs up and invests, the affiliate who recruited them is paid 10% of invested funds.
During a new UR Network Team affiliate’s first thirty days, if new investment is more than €5500 EUR the direct recruitment commission is doubled to 20%.
Residual Commissions
Residual commissions in UR Network Team are paid out via a binary compensation structure.
A binary compensation structure places a UR Network Team affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these two positions into another two positions each.
Positions in a binary team are filled via direct and indirect recruitment of new UR Network Team affiliates.
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
At the end of each day new investment volume on both sides of the binary team.
UR Network Team affiliates are paid 10% of the volume generated in their weaker binary leg.
Paid volume is flushed from both sides of the binary team, with unmatched volume on the stronger side carrying over.
Matching Bonus
UR Network Team affiliates who buy in at the Trader and higher packages can earn a residual matching bonus.
The matching bonus is paid out on downline binary earnings via a unilevel compensation structure.
A unilevel compensation structure places a UR Network Team 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.
The Matching Bonus is paid out as a percentage of residual binary commissions as follows:
- level 1 (personally recruited affiliates) – 10%
- level 2 – 10%
- level 3 – 20%
- level 4 – 25%
Note that the Matching Bonus is capped at €38,000 EUR a week.
UrCoin ROIs
Each UR Network Team affiliate package is bundled with a set number of tokens:
- Beginner – 1000 tokens
- Advanced – 6000 tokens
- Certified – 15,000 tokens
- Trader – 60,000 tokens
- Master – 150,000 tokens
- Ultimate – 250,000 tokens
These tokens can be converted into UrCoins.
UrCoins are not publicly tradeable and have a value set by Ur Network Team. Affiliates can sell UrCoins via an internal exchange operated by UR Network Team.
The current internal value of a UrCoin is not provided on the UR Network Team website.
Joining Ur Network Team
UR Network Team affiliate membership is tied to investment in one of the following six packages:
- Beginner – €99 EUR
- Advanced – €600 EUR
- Certified – €1600 EUR
- Trader – €5500 EUR
- Master – €11750 EUR
- Ultimate – €22500 EUR
The primary differences between the packages is income potential through the Ur Network Team compensation plan.
Conclusion
UR Network Team is little more than a clone of the OneCoin Ponzi scheme.
Roughly the same package investment amounts, same “educational package” pseudo-compliance and a bundled “cryptocurrency” that is completely worthless outside of the income opportunity.
Like OneCoin, the non-public nature of UrCoins sees them operate as Ponzi points.
UR Network Team set an arbitrary value and if there’s enough new investment, affiliates can exchange the coins for cash.
Not enough new investment will see UR Network Team deny withdrawal requests, as we’ve seen with OneCoin for many months.
The MLM side of UR Network Team is pyramid recruiting, paying affiliates to recruit new affiliates and invest.
Without this new investment UR Network Team collapses, leaving the majority of affiliates out of pocket.
Oz, the “other” UR at ur.technology looks like MLM as well, at least to my untrained eyes.
The About page says (right next to an animation showing an expanding tree of users rooted at “you”).
HOW DO I GET FREE UR CRYPTOCURRENCY?
Referrals. Once you sign on, you will be able to add friends from your phone contacts and social media accounts and help them get their UR, too.
The more you and your friends refer others, the more you benefit. You will receive more and more UR based on how your efforts lead to the buildout of the UR community.
It deals with number of “invites”, and levels.
The other UR coin company is distributing free coins via unilevel, but there’s no business opportunity attached.
Basically they premine coins and give them out to people who invite others, launch the coin, something something wishful thinking, cryptocurrency.
I stand corrected. Thanks.