If you landed on this page you’re probably searching around for an UpCoin Review! Congrats you have landed in the right place.
So what’s the story with this $1.00 Micro Pyramid with Half-Cent Bitcoin Lottery program? Lets take a closer look and see if this company is for real or just another scam.
UpCoin Review – The Program
There is no information whatsoever on this programs website signifying who owns or runs the business.
Before you read any further don’t confuse UpCoin with OneCoin. They are completely different companies.
If you aren’t familiar you can read Onecoin’s review here : Onecoin
You can also read about Onecoin going public here: Onecoin Going Public
A lot of people claim that OneCoin is a scam but you can read for yourself. It’s important you do your research on startups especially seeing bitcoins is a fairly new niche.
So lets continue on with this programs review.
The UpCoin website domain, upcoin.com, was privately registered on November 21, 2016.
And as I’ve always said, if an MLM company is not willingly truthful about who is running or owns it, think long and hard about handing over any money.
UpCoin Product Line
Like many programs before this company has absolutely no retailable products or services, with members only capable of marketing the affiliate membership itself.
UpCoin Compensation Plan
This program asserts that they pay their members ‘up to 500 satoshi every 20 min‘.
Just for reference sake, 500 satoshi is equal to 0.000005 BTC, which is $0.005 USD (half-cent).
A referral commission of 30% is paid on satoshi paid to personally recruited members.
Each UpCoin member also pays a $1.00 membership fee, which is used to pay recruitment commissions through a binary compensation construction.
A binary compensation construction puts a member at the top of a binary team, divided into two sides.
The initial level of the binary team holds two spots. The second level of the binary team is produced by dividing the first two spots into another two spots each.
Spots in the binary team are filled through direct and indirect recruitment of new UpCoin members.
Additional levels of the binary team are created as required, with there being no restrictions as to how deep a binary team can grow.
In addition to a 20 cent direct recruitment commission, a member also earns 20 cents per member placed into their binary team.
It is true the membership is $1.00.
The product is essentially a $1.00 micro pyramid scheme, led by an equally micro bitcoin lottery.
The UpCoin administrator is paying out half a cent or less per visit to the website, which just isn’t really going to be worth your time.
UpCoin – Bottom Line?
Listen, in order to make $1.00 over UpCoin’s satoshi lottery, you would literally have to visit the UpCoin website approximately 100 times.
At the end of the day it’s all just for a $1.00.
The micro pyramid scheme associated with the satoshi lottery is 20 cents per recruit and 20 cents residually.
Bottom line, once member recruitment dies down, UpCoin will flop.
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