Recently, I was offered to join an MLM scheme. Larry Pantling, owner of Capstone Digital Mining , offered me an opportunity to buy a beginner package for mining onecoin, swiscoin or ilcoin. He also gave me some information about the so-called “promotion programs” to involve other people into mining. In other words, I was offered to join an MLM business . Frankly speaking, I’m not new at this; I know how MLM works. But in traditional schemes you at least get some goods in exchange for your money. But what about cryptocurrency MLM? I still don’t get all the mechanisms of crypto operations, but I really felt like I was asked to pay just for thin air. To tell the truth, I never had the idea to join any kind of crypto MLM, but I decided to conduct some research with the help of Nathan Wosnack , CEO of Ubitquity. And I’ve had some interesting results. I decided to get some information about the companies I’ve been offered to join – OneCoin, Swiscoin and Ilgamos. The first thing I found out about OneCoin was that it was exposed as a Ponzi scheme by CoinTelegraph CT r: 25 earlier this year. In addition, I found further information concluding OneCoin is not trustworthy. For example, behindmlm.com stated: “There is no information on the OneCoin website indicating who owns or runs the business. The OneCoin website does have an “about” section, however no information about the company’s ownership structure is revealed”. Also, the company does not operate in the USA. It would be turned down by the SEC in no time, failing to comply with regulations. OneCoin has no retailable products or services. Furthermore, onecoin is not on the list of all available cryptocurrencies on CoinMarketCap. Having studied all information on OneCoin, […]
