OneCoin MLM Review
There is no details on the OneCoin site suggesting who owns or runs business.
The OneCoin website does have an “about” area, however no information about the business’s ownership structure is exposed.
The business does state nevertheless that it is headquartered in Europe with worldwide operations. We focus on core markets such as South East Asian nations, Europe, India and Africa.
Notably absent is the United States. So what exactly does OneCoin Cryptocurrency practice with the TOC?
The OneCoin Terms and Conditions recommends that the business is based out of Bulgaria: Onecoin follows strictly the guidelines of the Electronic Commerce Act of the state of Bulgaria.
We are not in business of selling your personal info to third parties. Where permitted by the arrangements of applicable law, Onecoin may however share such details from time to time with the following third parties:
Any government firm or other appropriate governmental, authorities, or regulatory authority in state of Bulgaria or somewhere else in order to fulfill legal security and regulatory requirements.
The OneCoin site domain (” onecoin.eu”) was registered on June 23rd 2014, however the domain registration is set to personal. OneCoin’s site itself is hosted from Bulgaria.
As constantly, if a MLM business is not openly upfront about who is running or owns it, think long and hard about joining and/or turning over any cash.
The Line of product
OneCoin has no retailable products or services.
OneCoin affiliate are just able to market affiliate membership to the site itself.
The Settlement Strategy
Residual Recruitment Commissions.
Matching Bonus offer
OneLife Point Reward
Aurum Gold Coins
There are 3 primary element to the OneCoin MLM company chance.
The very first is a simple recruitment-driven pyramid scheme, backed with a residual binary settlement structure.
Affiliates sign up with and are then directly compensated on the recruitment of brand-new affiliates, who should spend loan on plans to participate in the MLM opportunity.
The second is the entire Aurum Gold Coins schtick, which seems an alternative virtual currency to the OneTokens, and are backed by baloney.
The third and most deceptive part is the token share plan.
OneCoin is a new cryptocurrency that can be traded on the OneExchange.
Information of the token exchange are deflected the OneCoin website, with even the compensation strategy only gently explaining.
In a nutshell, based on what does it cost? an affiliate spends on a bundle, they are awarded a specific number of OneTokens.
Starter– 1000 tokens
Trader– 5000 tokens
Pro Trader– 10,000 tokens.
Executive Trader– 30,000 tokens.
Magnate Trader– 60,000 tokens.
These tokens are “traded” on what OneCoin describe as the “OneExchange”.
Masquerading as a crypto-currency, OneCoin’s OneTokens are nothing more than Ponzi points, pegged to absolutely nothing more than the rate of new money streaming into the business by means of affiliates:.
The more people sign up with the OneCoin idea, the greater the popularity and value of the currency.
The more popular OneCoin is, the higher the worth of the cryptocurrency.
As long as nobody exchanges their OneTokens for money, OneCoin hold everyone’s cash. If cash flowing in slows down however, OneCoin execute exactly what they describe as “splits”.
Basically, everyone’s tokens multiply, which drives down the worth of an individual token.
OneCoin are rather deceptive about their OneExchange virtual currency trading platform, nevertheless one can securely presume ther’re withdrawal limitations and restrictions on the amount of tokens an affiliate can “sell” over set time periods.
In this sense OneCoin works no in a different way to any other Ponzi points-based plan, just they pretend to be involved in crypto-currencies.
In the US at least, OneCoin would easily fall foul of SEC policy concerning the offering of unregistered securities. This is why the company purportedly does not run there.
Not that Europe is any more welcoming of such scams, just that the anonymous owners are certainly hedging their bets versus getting away with it by signing up the company in Bulgaria.
Once brand-new investment in bundles stops and the entirely approximate worth designated OneTokens goes into an irreparable spiral, those running the scheme will merely disappear.
In addition to exactly what’s left of everybody’s cash.