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Pi Network Review: Scam or Legit Mining App?
Welcome to my Pi Network review.
Is this another Crypto Currency Ponzi scheme?
Is this the next best thing?
There are so many questions that come with sites that involve anything from the Crypto world and that’s just how it is.
The Bitcoin hype has given everyone so much excitement, anxiety, and most especially heartache.
So if you are wondering if this is something you should invest your time and hard earned money in, you have come to the right place.
This Pi Network review will not only show you the ins and outs of how everything works but also help you make a wiser decision.
I am personally not a fan of hype, so don’t expect me to hype this thing like it’s the best thing since sliced bread.
So before you go even joining the person who introduced this to you, let me show you what you will be getting yourself into.
Perfect For Beginners!
Free Demo Account!
Free Trading Education!
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Table of Contents
Pi Network Review – Product Overview
Name: Pi Network
Overall Rating: 1./5 stars
After almost at least 6 months after its launch, the Pi Network does not seem to have done anything at all.
Although free to join, there is still no one making money and all that seems to be going on is a bunch of “mining”.
I did have this rated at 2.5/5 stars but I think 6 months is enough time to make things happen. Things look cool and all but there are better things that you can be doing with your time than mining on something that isn’t even allowing you to make any money.
So for those of you bombarding others with your personal affiliate link, save it for a better program that at least pays you for your efforts.
What Exactly is the PI Network?
“Developed by Stanford PHDs, Pi is the first and only digital currency that you can mine on your phone by leveraging your existing social connections.”
The company has created their very own digital currency but there is no mention of who owns or runs anything.
So who those Stanford PHDs are is currently just hype without any proof.
What I can tell you is that the site is ran strictly through its affiliate program, in which affiliates are compensated for getting others to join.
That seemed to be the case but no one is making any money with the Pi Network.
There is no product but the company does offer a service.
By downloading the Pi Network app, you can mine crypto currency on your phone, without draining its battery.
That’s what it claims to be/do but it looks nothing more than a recruiting based program that relies completely on its members.
Recruiting is all that is happening and everyone and their mothers are still sharing their affiliate link, even if they aren’t making any money.
Definitely not something I would recommend as there are way more opportunities out there that you can focus your time on.
How it Works
Pi Network has absolutely no value and is trying to pull off what Bitcoin did back in 2008.
At least that’s what they’re expecting.
Get some hype going, get millions of people to join, all in hopes that the value of Pi will grow to a point that everyone is making money.
Being that it is completely free to join, the money made and value of Pi is all dependent on the volume of members that come into the company and what is spent.
By spending and sharing, using the Pi Network app, the value should increase over time as long as newer members continue to join.
Many companies have made an attempt at this but all we got were Alt coins that are definitely not doing as good as they used to.
Pi Network does not seem to be doing any better with the fact that no actual money is involved.
Will it Work?
There is no telling where this whole idea is headed but of course we always hope that it does great.
I am no psychic but I do see this doing about the same type of numbers that every other Crypto Currency project has done.
It will go up to a certain point but eventually go down once the hype is gone.
Being that it is completely free to join, I don’t see the harm in signing up and seeing where everything goes but again, that does require time.
The good news is that I have not seen any recent wallet type crypto currency programs and I know all the failed crypto marketers are looking for something to join.
Be that source and you can possibly earn some money in return.
Pros & Cons
- Very new company
- Free to join
- Has potential
- No real money involved
- Doesn’t seem to be moving anywhere
- Could be another flop
There is not much information for me to give a real opinion on things just yet, but this is currently what I find to be good and bad of the Pi Network.
So is Pi Network a Scam?
Pi Network is really nothing more than a network marketing gig at the moment.
There is no one that will take your money and only time will tell where everything goes.
It as been quite some time now and I’m about tired of “mining”.
From what I once did daily has now stopped.
I don’t mine anything and I have no interest in it either.
Unless you want to wait around for a miracle, I do not recommend joining the Pi Network
I don’t see the harm in creating a free Pi Network account and I do recommend you do so anyways.
However, I do not think you should sit and wait around for anything because there are many other things you can do with your time.
With all the Crypto Currency peeps that relied on the many Ponzi schemes to make money, you can bet that they are looking for the latest and greatest program to join.
Be upfront with the people you are going to promote the app too and I’m sure they wouldn’t mind joining you.
Now if you are looking for a real way to make money online, you might want to start today.
You can always do some flipping with Ticket Flipping Hub but it does require a nice investment on your part.
It does pay faster than most but it also requires you to invest a good amount of money as well.
For those of you who have no money to your name but still want to make something, Swagbucks is your best bet.
It’s free to join and will pay you for doing simple tasks.
If you are looking to start a blog that’s great too.
There is no better way to make money than through a simple website and a topic of your choice.
For that, you can start with something like Wealthy Affiliate as they have everything you need and it does give you a free trial as well.
I got my start there and I’m sure you will appreciate some personal help and their super active community of members.
That concludes this Pi Network review, so have a great day and don’t forget to tip your waiter.
I hope you enjoyed that post. I’m John and I am the owner of this site. I like to think I’m a normal dude just like everyone else but that wouldn’t make me unique. I do have 4 kids and I have gone through the hardest of times, most especially financially. With some learning and growing, I have managed to get back on my feet and live the laptop lifestyle most people only dream of. With that knowledge, I hope to align you with a real and legit way to make money online.
We welcome anyone.
We are a big group of people and most of us are mining with a rate of 15 pi/h.
Join our team ,using the code : “kingami”
Philip B. Northam
Hi John, it is a shame that you do not understand the concept of the Pi Network and therefore, you shouldn’t be telling people to beware as it cost nothing to find out themselves. The fact is that the Pi network is still in Beta stage and in the 1st year, has over 3.5 million members. Everyone knows there’s no value at this stage. There are three steps to the Pi earning rate for free. You have the choice of getting involved or just being a member – there is no obligation or requirement for anything more than logging on each day! This is a 2nd opportunity that costs nothing to join and earn AND; just like Bitcoin $0 to $15k in 10 years – what will Pi be worth in 10 years – no-one knows but I want to be part of this revolutionary system. I have 600 coins so far which COULD be worth nothing or Millions to my children and grandchildren with no downside! Go to http://www.minepi.com and read the information. Then, if you would like to join Pi, use “PhilBee” as your invitation code and start earning crypto coins for your family’s future. Philip Northam Proud Pi Member earning free coins.
It’s a shame John but can you guys please use “PhilBee” if you want to join? Get out of here with your nonsense Philip. I know enough about Pi, I’m an actual member, and have been for over a year now. Regardless of what I know does not mean that we will be making a single penny from this. Myself and everyone else I know have stopped “mining” and that’s because we really don’t know where this is going. Does all that mining mean I’m going to be rich 10 years from now? Money does not come from the sky Philip and you just have to think realistic and not wishing that some kind of money lands on your lap. And for some weird reason some actual money does come to light, then hey, I’ll be richer than you because I got in way before you did. Don’t question my intelligence Phillip, I’ve been in this business for almost a decade and I’ve followed many programs in my lifetime. I do great With crypto currency in Mirror Trading International, I do affiliate marketing with my blogs, and I have tried many other methods in the time I’ve been online. So trust me Philip, I know what I’m doing and what I’m saying.
We are a big group of people and most of us are mining with a rate of 10 pi/h.
Join our team ,using the code : “told”
We welcome anyone.
Hey Told…is there any real currency being used here?
Ah, an armchair know-it-all. Go you!
Ummmm…who you talking to Kristy?
they are starting the in app transfers. some of the members have been in their KYC (know your customer) and now in have in app transfer.
by the way what can you say about this site https://ecoinofficial.org/
ecoins with 370k members in 10 days and counting.
it has an in app transfer already and you can widraw anytime
That site seems to be doing the same exact thing Pi Network is doing. Get lots of people to join and then hit them with some kind of way to pay. Ecaoin says it best “Our strategy is to acquire billions of users”. They are trying to get lots of people in (free of course) in hopes that they will be the early bird and then hit them with some kind of way to get money from them. I wouldn’t do it if I were you Romel.
Got to be a scam. They are soliciting bitcoin on their Facebook page now. I have a screen shot.
Ahhhh, get millions to join for free and then market something else…that might just be it. Can you share that screenshot Johnny?
Yes, Johnny, please share that screen. I am in the same boat as John. I have been mining now for over 7 months but not holding my breath. The more I asked questions and they do not answer, the more skeptical I become. I have to agree with you John, this is looking more and more like a scam to get people to join, and then hit us with some kind of buying. Hoping that you don’t want to lose your Pis, which if it is not going to be beneficial then I will be more than happy to lose them all.
PS: Have to say, if on the contrary, it ends up working, then I will be making a hefty price tag, lol! Benefits of mining for so long. Have 7Gs and counting.
Me too Carlos! lol. I have stopped mining a while ago but I have been with Pi for over a year now. Mining for free is a lot of work! lol. But, I do hope that something good comes out of this and not some sales pitch to the next best Ponzi scheme. Fingers crossed…
Pi is interesting and will be surprising crypto-world in near future, the beauty is that it engaged poineers, by chat rooms , moderation etc. plus the selected group who are able to use in-app transfer , it encourage others, Pi birthday ( March 14 ) is approaching and we believe some new things like KYC will be opened for members and future road-map will be shared, As the developer has slogan that Pi will be common people money , so by proper marketing and advertising its adoption by mass will really surprise all others, we are not going to spend money , not buying expensive hardware just to download and click the button in 24 hours.
So when will real money be used Irshad?
Sory John but you are acting like some of those people who just joined the Pi Network … “when can I exchange Pi to other currency”, “how much is Pi worth”, “is this a scam”
If you really had this app for 6 months you would know the answer all the questions you are asking, and since you published this article on February 14, 2020 you really should know a lot more.
I joined 2 months ago and know who is behind the project (https://minepi.com/team, https://hci.stanford.edu/nicolas/), what was the value Pi reached in the test phase (4,8$ / Pi by the way)
I’m sorry to tell you but your article seems to be written by an amateur.
Here’s a more relevant article – https://sgclassicalguitar.xyz/minepi-pi-network-cryptocurrency-mining-scam-review/
Oh Adrien, I have had the app for over a year now so please stop acting like you know what you’re talking about. The February 14th date is when I updated this post. Did you make any money? That’s the question we ALL want answers to not who runs the show or what the “value” is. So please amateur, answer that ONE question and not the questions that everyone knows the answers to. Please share your know it all answer to that ONE question Adrian as I’m not here to wait a whole year to see what will happen. I’m not that stupid, buddy.
To join pi network, use reference “tornado”
We are a big group of people. Most are farming with a rate of 5 per hour.
To join our group use the code: “told” . We welcome anyone to our chat
What everyone wants to know Dim is when in the world will REAL money get involved? Are we going to mine like it is some kind of game? I’m sure everyone is starting to get tired of waiting around as it’s been quite a while since Pi Network launched. Do you know what is going on? Is there something to look forward to or is Pi Network going to continue to be a mining game of some sort?
Simple, easy Pi Network mining
I have never dabbled in cryptocurrencies before but I have a good positive feeling about Pi
They don’t ask for money. They don’t want personal information. A simpleton like me can mine in the background even with the app turned off. And you gain coins faster by having people join your circle. I just love the idea of currency that’s not manipulated by anyone. Its owned by the users.
LOL at all the know-it-betters, who is telling you PI is a scam. Here is my answer.
Before the bitcoin hype in 2020, we were collecting free coins left and right. Some of these coins became famous and you guys were buying our bags.
2020 Free RaiBlocks(Nano) $0.007 to $31 in 2020.
2020 Free Stellar Lumens $0.0018 to $0.64 in 2020.
Other then with BTC it is Pi Network that controls your account. They can delete it at their sole discretion. Actually your account is at risk right now because they have to deal with lots of fake account which need to be deleted. It can be any account, also yours.
Thanks for sharing such valuable information Joe. But what about the whole earning part of Pi? Are we just going to keep mining all day or is something actually going to happen?
John, I suggest you to read the FAQ and the project’s white paper. Everything you need to know is covered there.
And my advice to all Pioneers: Verify your account with your phone number, not only with FB, and make sure to have enough real people pointing at you via security circles. This way you run less risk that your account will be wrongly deleted.
Nothing to lose here but everything to gain. Google and FB already have data tracking on you. I bet many wish they had a thousand bitcoin when they started and were easy to mine. Worth pennies back then. Now look at the price. Nothing ventured nothing gained I say. Crypto is the future. Bankers hate it. They have lots of money to pay bloggers and advertisers to try and quell it. Not going to happen. The people in mass are seeing the light.
Have a good life everyone!
I’m sure that’s the way a lot of people feel Mike but what kind of current benefits/earnings have you experienced as a member? have you paid any money? Recruiting? Can you give us some insight on what you have gained or why you feel that this is probably the best things since sliced bread.
how to spend it?
I think is an interesting project, at early stage, but we´ll see in phase 2 (testnet) and phase 3 (mainnet) where it is going. For now I´m mining and having some “pi” just in case. The idea is really funny and interesting, to have more and more people knowing the blockchain concept. And the blockchain will be a fork of Stellar, one of the 10 more valuables cryptos, so…let´s see!
I’ve been using Pi Network app for quit some time now. About a few weeks after launch and have accrued quite some members to join up and lots of Pi coins now. Though currently there is no monetary value of the coin but I see it has potential along with many other uses for the coin. When peer to peer exchange comes out and their marketplace opens, I think then it will have a lot of value. But currently as the trend of the coin continue to rise up with new users everyday, you can take advantage of their chat system to promote other things to your earning team.
Join Pi Network, minepi.com/cleoarc, and start your new potential moneymaking journey (like Bitcoin started from $0 in 2008). 1st cryptocurrency you can mine from your smartphone. No investment to join.
has anyone found any answers as to what type of data they’re extracting from users? (aside from name/phone number for install)
Pi was not the first mobile mining. I’m pretty tired of people throwing this around. People need to do their homework as Electroneum (ETN) have been doing this since late 2020. Everything this is doing has already been done by ETN.
Elecronium has been on since 2007? And yet even a thousand eleactronium tokens is not worth up to $10 that’s pathetic.
Does Mine “pi” means Personal Information?
Already joined but still worried about security stuff.
Who knows where it will take us, you never know. Maybe you kicking yourself otherwise.
As pi network is still in beta you need an invitation.
ETN does not have a real mobile miner.
For me – at this moment – it does just look like some sort of profiling App that collects User data and could possibly sell them to other companies. ? That’s it, they make some money and you get nothing. They want you to use your real names, constantly check back, so they can mark your account as active for possible interests of the database and in the best case they got your E-Mail, telephone number and If you were dumb enough the password you are using on multiple Apps and Accounts so buyers gain access to many of your stuff.
Be careful and stay safe… I’m trying it out right now but I do see many harm that could hit lots of Users if they are not carefully. So this should always be in your mind participating stuff like this.
Pi can be downloaded here: https://www.minepi.com/phone
Be sure to use the invite code “phone” as it’s still in beta.
As the world becomes increasingly digital, cryptocurrency is a next natural step in the evolution of money. Pi is the first digital currency for everyday people, representing a major step forward in the adoption of cryptocurrency worldwide.
Our Mission: Build a cryptocurrency and smart contracts platform secured and operated by everyday people.
Our Vision: Build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency
DISCLAIMER for more advanced readers: Because Pi’s mission is to be inclusive as possible, we’re going to take this opportunity to introduce our blockchain newbies to the rabbit hole Smiley
Roadmap / Deployment plan
Phase 1 – Design, Distribution, Trust Graph Bootstrap.
The Pi server is operating as a faucet emulating the behavior of the decentralized system as it will function once its live. During this phase improvements in the user experience and behavior are possible and relatively easy to make compared to the stable phase of the main net. All minting of coins to users will be migrated to the live net once it launches. In other words, the livenet will pre-mint in its genesis block all account holder balances generated during Phase 1, and continue operating just like the current system but fully decentralized. Pi is not listed on exchanges during this phase and it is impossible to “buy” Pi with any other currency.
Phase 2 – Testnet
Before we launch the main net, the Node software will be deployed on a test net. The test net will use the same exact trust graph as the main net but on a testing Pi coin. Pi core team will host several nodes on the test net, but will encourage more Pioneers to start their own nodes on the testnet. In fact, in order for any node to join the main net, they are advised to begin on the testnet. The test net will be run in parallel to the Pi emulator in phase one, and periodically, e.g. daily, the results from both systems will be compared to catch the gaps and misses of the test net, which will allow Pi developers to propose and implement fixes. After a thorough concurrent run of both systems, testnet will reach a state where its results consistently match the emulator’s. At that time when the community feels its ready, Pi will migrate to the next phase.
Phase 3 – Mainnet
When the community feels the software is ready for production, and it has been thoroughly tested on the testnet, the official mainnet of the Pi network will be launched. An important detail is that, in the transition into the mainnet, only accounts validated to belong to distinct real individuals will be honored. After this point, the faucet and Pi network emulator of Phase 1 will be shut down and the system will continue on its own forever. Future updates to the protocol will be contributed by the Pi developer community and Pi’s core team, and will be proposed by the committee. Their implementation and deployment will depend on nodes updating the mining software just like any other blockchains. No central authority will be controlling the currency and it will be fully decentralized. Balances of fake users or duplicate users will be discarded. This is the phase when Pi can be connected to exchanges and be exchanged for other currencies.
Pi – Token Supply
Token Emission Policy
Total Max Supply = M + R + D
M = total mining rewards
R = total referral rewards
D = total developer rewards
M = ? f(P) dx where f is a logarithmically declining function
P = Population number (e.g., 1st person to join, 2nd person to join, etc.)
R = r * M
r = referral rate (50% total or 25% for both referrer and referee)
D = t * (M + R)
t = developer reward rate (25%)
Bigmine.io Review: Is Bigmine Scam or Legit Mining?
Bigmine.io Review: Is Bigmine Scam or Legit Mining?
Last Updated: Mar 2, 2020 @ 2:19 pm
Bigmine.io is a supposed Crypto currency cloud mining website which allows investors to purchase hash power and mine on their site. Big Mine claims that their website is owned and operated by a company known as Mining Solutions Limited. A search for the background of this company reveals that there is no such company which is registered in Russia (where Big Mine is apparently situated at). However, we were able to find Mining Solutions Ltd in the UK.
The one registered in the UK is giving us a different physical address from the one we find on the Bigmine website. So clearly these two companies are not the same as Bigmine claims to be located in this physical address RU Office address: Lenin avenue 52, Murmansk, Murmansk oblast, Russia. Surprisingly, the site also gives a UK phone number but does not completely reveal all the digits of this phone number. You should treat this as a red flag because a phone number is supposed to be used to facilitate easy communication between the client and the representatives of the site. It is not to be used for spanning them (as allegedly claimed by BigMine and used as the reason why the phone number cannot be revealed to users of this site.
Bigmine cites 3 people who allegedly work for them. These include Josef Stransky (support department manager), Alleardo Ferri (Technical department manager) and Angelika Fiedel (legal manager). The site claims to have been in operation since 2020 although there is no evidence that Bigmine was existing at the time. This appears to be a brand new cloud mining service and its reputation is not known yet. There are zero customer feedback on the internet regarding the services offered by Big Mine. In fact, if this site was a couple of years old, it would be among the most popular Crypto currency cloud mining services on the internet. Unfortunately, this isn’t the case for these guys, and we are only trying to wonder why they are misleading their visitors. The fact remains that this is a highly suspicious website and before you spend your Bitcoin on them, you need to conduct due diligence to ensure that you are not getting scammed and also you are not taking necessary risk by investing what you cannot afford to lose.
Besides claiming that Bigmine is owned and operated by Mining Solutions Ltd, the website claims that their customer base has reached over 3000 active users who have made over 4000 purchases since the inception of Big Mine. They also claim that nowadays BigMine owns data centers that have a production capacity of 50 PH/S. It is very easy to confirm these details. Just run the domain name of this website on a platform like alexa.com and find out what the ranking is. Bigmine.io currently ranks at 8 million globally which means that it is not receiving as many visitors per day.
Therefore, based on this information, we automatically disqualify the claim that Big Mine has over 3000 active users. If that was the case, the site’s global rank would have improved such that they would be at 400,000 or less. We therefore don’t believe in these random figures which this site is trying to tout on their platform. We see it as a marketing stunt to try convincing users that the site is credible even when there is no evidence that this is the case. On the same note, if Big Mine has existed for the last 3 years, we should be seeing its popularity on the various domain inspection tools on the web. There is no way Bigmine would have provided their services when they didn’t have a website in the first place.
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How they mine and claim efficiency on their site
BigMine claims on their website that they run two types of algorithm which they also claim to be very efficient. The first algorithm is the regular algorithm for mining Bitcoin (SHA 256). The second one is called ACSA (Advanced Currency Selection Algorythm) which the site claims to be used to switch mining when one coin stops being profitable so that we can keep earning profits which is then converted into Bitcoin. On top of this, they claim to have a friendly customer support in place which can address issues quickly if they arise.
Other supposed advantages include low fees and protection from DDOS attacks (which we think should not be relevant here). The alleged low fees which they claim miners will enjoy can only be demonstrated when we have the opportunity to mine coins on this site without actually risking anything in order to get the algorithm rolling.
Free mining plan
The site provides a free mining plan worth $36. This is equivalent to 2 THS of mining power. However, users can upgrade at any time if they feel that the power that they are currently using is not sufficient to generate returns for them. This is a trick to lure people into Bigmine because they know that once you are in, you will be enticed to upgrade.
The problem is that there are no real user feedback for this site. We could try the demo which indeed will generate profits for us. However, when it comes to cashing out, the site will always require some form of ”upgrade” in order to release the mined Crypto currencies. That is where the risk likes.
Our best advice for you
There is only one investment plan under which customers can mine with Bigmine. This plan requires a minimum of 0.0025 BTC to start mining which the site claims will generate 0.5 THS. But as we have said, we cannot test the paid service if we do not have clear picture of whether this site is paying or not. It appears to be a new site and for that reason, there are no reviews yet. We will have to wait and see whether people will give their feedback. At this moment it is too risky. At the moment, we are only encouraging investors to mine with these reliable Crypto currency cloud mining sites.
OneCoin Review – Legit Business Or Huge Scam? All Right Here
Hey Everyone, welcome to my exclusive OneCoin Review! I have been following www OneCoin eu for sometime now. So is OneCoin a scam or not? That is the burning question seeing this company has absolutely exploded across the internet.
If there’s one thing to note about cryptocurrencies is they are very trendy and getting lots of buzz. One Coin seems to be leading the pack for sure with dozens if not hundreds of new comes following their lead.
They can provide a great value if you mine and use them properly. Because OneCoin has only been around since 2020 I am going to walk you through the entire company and business opportunity.
Multi-Level Marketing is certainly not for everyone and this cryptocurrency is a niche that hasn’t been around long. So it’s important you do your homework before joining.
OneCoin is certainly in a momentum phase. Could this really be a great option for potential investors and business builders?
Well OneCoin eu has recently announced that 320 millionaires in commission have been created since it’s inception. Monthly sales are also between $350 – $400 million per month.
These certainly are very impressive numbers.
Cryptocurrencies have certainly made a selected few very wealthy. The question you’re probably asking can it do the same for you? I would really consider getting into coins that are actually being exchanged on the market.
Bitcoin for example has been increasing steadily over time and there is no mlm aspect or business opportunity attached to it. The TokenPay Coin would be a good example of an up and coming crypto that will almost definitely get to the exchanges.
You also have exchanges like Nextexchange putting their coin together where you can trade through fiat currency.
OneCoin is just an MLM scheme and the coin has no real value period. It’s not being traded on any exchange.
The company was founded by Dr. Ruja Ignatova who launched the company in July 2020. The One Coin site is more than 2 years old.
There website “www.onecoin.eu” is hosted out of Bulgaria with headquarters in Europe operating worldwide. Their core market can be found in South East Asia, Europe, India and Africa with major expansion plans.
When OneCoin eu started a “Nigel Allan” was President but was terminated for unknown reasons.
Here is a legal letter that went out to all OneCoin affiliates:
Shortly After One Coin Owner Dr. Rujas sent out this follow up letter:
Nobody really knows what went down but there have been lots of rumors.
Recent interview with OneCoin creator Dr. Ruja Ignatova:
OneCoin Product is derived from “OneAcademy Online Education” program with different levels you can choose from. You have the ability to invest in tokens that can be acquired via trader packages and there are 5 packages to choose from.
The price differs and it goes from 100 euros to 5000 euros for the Tycoon trader package.
Here are the five packages that OneCoin eu offers:
www OneCoin eu
They also have the “activation kit” price option of 30 euros. This will maintain a specific position in the company not to mention that you also receive a free eBook which is a nice addition.
If you want to try out the OneCoin service they do offer a “Rookie Price” which is actually free of charge.
The rookie price will give you information on OneCoin and the product. They will also send you “Think and Grow Rich” as an added bonus. You also have the option of getting on their newsletter.
It’s possible these free bonuses have helped OneCoin eu see this massive growth trend over the past year.
OneCoin Two Year Goal
The site states that they have mined around 847 million OneCoins and their target in the next 2 years is 10 million people and 1 million merchants.
That is MASSIVE! Can One Coin really reach such numbers?
Ok, lets take a look at how this compensation plan works and how some of the people involved are making “millions” per month lol
Does that sound crazy or what? One Coin is making such claims. Wait till you see what their number one distributor is earning per month.
OneCoin Compensation Plan
Like any MLM company OneCoin eu pays on multiple levels.
The One Coin compensation plan is pretty easy to understand. Their website also has lots of videos and tutorials.
The bonus plan does seems to be a very profitable if you know how to market and can build a team that duplicates.
Like any MLM company. If you want those big bonuses they are usually not easy to get!
Obviously, the ability to access a coin mining service is a very good one and unlike other similar systems on the market this one seems to be working well.
Their approach seems professional and certainly unique.
OneCoin eu – No Guarantee
Obviously, One Coin is in massive momentum phase but I can’t promise that you will join and make millions. I have seen other companies have similar growth only to crash and burn sooner rather than later.
Like any other Multi-Level Marketing companies it really is up to you. The approach in OneCoin is no different. You have to build big team and maintain.
OneCoin does make coin mining simpler and it does tend to deliver quite a lot on its promise. But, as we mentioned earlier it does require you to work very hard in order to fulfill your goals.
It’s not a simple process for sure, but it’s an interesting one.
OneCoin – 80% Return On Investment
The company claims that you can get an 80x return on the initial investment in around a year. I have seen other companies claim such returns on money and most of them went out of business.
We are all familiar with HYPE companies that promise you 1.5% – 4% per day. Most of those were shut down. The ones that still exist seem to be more of an underground movement.
We call these “churn and burn”. They move from company to company trying to grab some momentum money then jump to the next flavor of the month.
One Coin – $4 Million Per Month?
If you like fast money and like risk this may be for you. All things being equal there are no guarantees.
The approach that they have here is unique, refined and certainly different. It’s quite remarkable how much some of the distributors are earning.
I’ve been around the industry since 2002 and I can’t remember a distributor in any company earning $4 million dollars per month. That’s more money than most actors and professional athletes are making. One Coin is making some huge claims which I have found through experience is almost never a good thing.
Juha Parhiala, OneCoin’s number one distributor, is also living in Thailand. Could you imagine what kind of a lifestyle he has in a third world country making that kind of income? Or maybe he’s there for different reasons?
Also, 7 of the top 25 income earners in the entire network marketing industry are with OneCoin.
These are the top 25 distributors in network marketing:
That is just insane if there is any truth to it. I have been around network marketing for about 15 years. It is the first time I have ever heard of a distributor earning this kind of income. One Coin distributor Juha Parhiala is earning a cool 50 MILLION per year? Seems a bit crazy. Dexter Yager who’s been with Amway for DECADES is earning around a million a month which is still a ton of money but you can see how that’s possible. $4 Mill a month in a couple years.. Hmmmmm!!
OneCoin – Scam Or Not?
I wouldn’t call OneCoin a scam. However many people would definitely disagree.
OneCoin pays their affiliates on time with a few hiccups here and there with banking issues. They don’t seem to be hiding anything but there certainly are lots of ‘grey’ areas.
However, One Coin is a new company and many people could be riding the “hype” train.
With these type of numbers I’m sure the regulators are picking OneCoin apart so for their sake I hope they are 100% legit and not doing anything shady behind closed doors.
It’s very common for the FTC or other regulatory branches to shut down companies they deem as some sort of Ponzi or scam. Countries and banks have been looking at One Coin for some time now. When a company blows up fast and these HUGE income claims are being released it’s never a good thing for long term sustainable growth.
One Coin has seen incredible growth.
It’s hard to stay under the radar when a company is seeing such growth. With so many rules and regulations in the MLM world nothing is a guarantee.
There are 40 year old MLM companies that the authorities are still trying take down calling them a Ponzi schemes and the like.
For that reason I’m out.
One Coin – Bottom Line?
One Coin is not the only ‘make money online’ program hitting headlines these days. Scam or not there are plenty of ways to make money online beside this One Coin cryptocurrency program. There are hundreds of legit opportunities out there that can make you good money.
Cryptocurrency programs are without a doubt on the riskier side of business opportunities. When I see companies claiming their top distributors are earning in excess of $4 million dollars per month the red flags start to fly. It’s one thing if a company has been around for a long time but that is not the case with One Coin. It’s only a few years old.
Should you use this One Coin cryptocurrency? It all comes down to how open you are to the idea of virtual currency. People are making a lot of money with One Coin but how long will it last? Some countries have already ban One Coin and many banks won’t take their business. Just seems to be a lot of questions.
Overall, I’m not telling you not to invest your money in a program like One Coin. I’m just saying there are lots of companies and ways to make money without so much uncertainty.
If you choose to join OneCoin eu I really wish you lots of luck! www OneCoin eu is definitely one of those ‘rollercoaster’ type of companies. It’s not like joining an older, well established company that you know will be here in a year and has been paying on time for the past 20 years.
In retrospect there really isn’t much excitement joining a dinosaur of a company. It comes down to what type of person you are and how much risk you can take. If you are already in OneCoin, please share your experience below in the comments section.
Hope my OneCoin review helped answer some or all of your questions. Make sure to subscribe below and get my special tips and strategies I only share with my subscribers!
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If you already joined Onecoin, which I wouldn’t suggest doing, this still applies to you.
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Hi. I really respect your above artical. I invested in Onecoin in Octorber 2020. I see they do everything clearly not scam. When I place order to sell coins 5 times a week then my 3 orders been executed. It means I can withdraw 60% my capital back. Everything was good but after october 2020, the banks in Hongkong, Singapore, Tanzania and others frozen the Onecoin accounts so they now have no bank to transfer. Now we can not withdraw money. The banks say Onecoin is scam with its pyramic and multi level market. Im very sad. I do not know why the banks closed Onecoin’accounts.
Hi Tam, sorry to hear the bad news. The problem with companies such as OneCoin even if the company or company owner is really trying to help people make money the SEC or other regulators don’t see eye to eye. OneCoin is just one of many companies that have had problems such as this. If you’re having problems with the banks that is almost always a bad sign.
They certainly DO NOT “pay their affiliates on time” There’s no way they are going to be around in 40 years time or even four years, This is such an obvious Blatant scam that regulators have been shutting them down worldwide.
Hi Allan, thanks for your reply. That’s usually a bad sign when people aren’t getting paid on time. I’m not an affiliate but that’s what I have been hearing recently. There are other ways to make money online I’d stay away from this one personally.
pls could you tell us what other legit ways yo make money online… Austin
Hi Austin, there are lots of ways to make money that are completely legit. Depends what you’re looking for. If you’re feeling overwhelmed or not really sure what is best make sure you get on my list. I give lots of free marketing tips and from time to time will show you ways to make money online. If you have any questions you can email me here: [email protected]
Thanks for this. I am being pitched the idea of this business, I don’t doubt the legitimacy of the business as it’s not the first company in the industry but am skeptical of how much most of its members understand the system and the longevity of such business in world market. I am also concerned the competition it would face from it’s rivals and other sectors from financial world. I am convinced if the idea but not 100% if this can be a durable business? If you are a member please help me understand…Thanks all
Hey Sam, I am not a member of OneCoin and it seems as if similar companies are popping up almost daily. If you get involved just don’t spend more than you can afford to lose. If I come across current news I will surely email it over to you.
Hi plz tell me,, about Onecoin is scam or not? I am investing a lot of money,, I can’t understand ,, plz tl me,,
Hello Vivek, everything comes with risk. I would talk to some of the members. Always do your homework when you invest money. If I hear anything I’ll be sure to report it on my blog!
I’m a member of one coin. In my conclusion so far they are using the hype of crypto currency and sharing successful stories of Bit Coin to motivate people.
On the other side with network marking they are paying so much to their members who bring the new business which is worrying me in a sense that company itself not generating revenue to make its worth in future market.
Thirdly and most importantly would all these big banks and regulators allow any thing which can reduce their own businesses.
And within company atmosphere I just didn’t like that they don’t allow or keep any answering questioning session, why they are avoiding it?
Hi Ali, unfortunately I can’t answer you with 100% certainty. What I can tell you is that companies with banking issues usually not a good sign. I was with two companies in the past that started having banking issues. When a bank doesn’t want your business there is a reason. Usually the risk far outweighs the rewards. When this happens companies sometimes switch over to Solid Trust Pay, Payza or some type of ewallet. That’s never a good thing. It’s the end of the rope sort of speak. Sometimes they can even freeze accounts and you can’t get your money out. I lost almost 100k in a Payza account one time. Everything comes with a bit of risk but some have a lot more risk than others for sure. Hope this helped a bit!
Waqas Memon says
Its me waqas ..
Dear can you guide me about one Coin business ??
Coinmama Bitcoin Exchange Review – Legit or Scam?
Updated on Oct 23, 2020 by Tuan Do
Coinmama is the Bitcoin exchange I use recently after reaching limits on the others. The exchange has been around for a while but I was hesitant to use it because I heard some complaints about their service. I gave it a try and here is the review.
Coinmama is registered in Slovakia but they offer the service worldwide. You might have limited functions in some countries but overall, the service is available in the widest range of countries.
You can buy Bitcoin or Ethereum with your credit/debit card. I used my debit card to buy because it’s faster, however, it’s also more expensive.
I was quite disappointed with Coinmama’s customer support. The verification process was fast but when I had a request regarding my transaction, it took 2 days for the response. The good thing is that they explained thoroughly and keep me assured that I would receive my Bitcoin eventually.
The processing time varies depending on the workload. My first transaction went well and I received Bitcoin to my wallet in about 4-5 hours. The second transaction takes much longer and I didn’t receive my Bitcoin until 2 days later. There was a message saying: “Simplex, our credit card processor, are currently under heavy load. You may experience delays in processing your payment.”
The 3rd transaction was completed within an hour when the service is less busy.
The price you see on Coinmama’s homepage has a huge markup because it includes the service fee of 8.5%. If you pay with cash, you don’t have to pay any more fee. But if you use your credit/debit card, you will have to pay additional 5% for Simplex, the payment processor. And that’s not all, I had to pay the currency exchange rate for my bank as well, so the transactions become so expensive. You should expect a 15% markup for your purchase.
Update: Coinmama now does their own processing which enables us to provide end-to-end support, and makes all transactions instant. The service fee is 5.50%, which is included in the prices on the website.
Overall, Coinmama is a legit Bitcoin exchange but I don’t recommend it because of the high fees. You should only use their service when you can’t buy anywhere else.
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