FirstCoin Club Review – Is This A Good Opportunity Or Big Scam?
FirstCoin Club has been getting a lot of attention on the web lately.
Because there is so much hype, a lot of network marketers are trying to sell this opportunity all over the place, including all over social media.
I want to let you all know that I am NOT in any way promoting or selling FirstCoin Club.
I have simply gathered for you all the facts in this FirstCoin Club Review in order for you to make a proper decision about it.
So, is it true? Is FirstCoin Club a scam?
Can it really help you build an online empire?
Let’s carry on with the review.
What Is FirstCoin Club?
I’ve reviewed a lot of MLM opportunities in the past with very barebones websites, but FirstCoin Club takes things to the extreme.
Right on the homepage, you’re met with a form asking you for a username and password to log into the site. You can click on a “Register” tab for creating your account with the company, but other than that, you won’t find anything else.
There’s no information in regards to what FirstCoin Club is, who’s running the company, where it’s based out of, when it was founded, etc.
This is about as lackluster of a site that you can have, and that’s not a good thing at all.
The domain name for FirstCoin Club’s website was first registered on July 15, 2016. Unfortunately, seeing as how the domain was registered privately, it’s impossible for me to see where it took place or who owns the domain.
There’s mention of “Dynamic Global Marketing Ltd” on FirstCoin Club’s site, but it’s not disclosed as to what the relationship between the two companies actually is.
I managed to find an address over in Dubai, but after looking further into it, I discovered that it belongs to another company called “Freemont Group.”
Freemont Group offers business information services to clients throughout Dubai, and as such, it’s safe to say that both FirstCoin Club and Dynamic Global Marketing don’t have any real physical presence in Dubai whatsoever.
What Are The Products For FirstCoin Club?
With FirstCoin Club, we’re dealing with yet another MLM opportunity with no sort of product line to speak of. Nothing is being marketed or sold to retail customers, and as such, you won’t find the slightest trace of retail sales activity.
This lack of a product line means that affiliates can only market and offer the affiliate membership to folks that are interested in it, and in the world of MLM, that’s never a good thing to see.
What Is The Compensation Plan For FirstCoin Club?
As an affiliate for FirstCoin Club, you’ll be asked to invest in firstcoin — a type of cryptocurrency that FirstCoin Club has created. An investment in firstcoin will supposedly allow you to earn a monthly ROI, and along with this, affiliate are also told that an investment will allow them to make money off of referral commissions.
Looking first at the ROI, affiliates can make between 3% and 7.5% each month on their investment. This money is paid out in more firstcoin, and the available investment tiers work out as follows:
- Basic — Affiliates earn a 3% monthly ROI after investing between $200 and $1999 into firstcoin
- Silver — Affiliates earn a 5% monthly ROI after investing between $2000 and $999 into firstcoin
- Gold — Affiliates earn a 7.5% monthly ROI after investing between $10,000 and $24,999 into firstcoin
- VIP — Affiliate earn a 7.5% monthly ROI and a 10% one-time bonus after investing $25,000 or more into firstcoin
As for referral commissions, affiliates can score a 10% commission whenever personally recruited affiliates of theirs invests their own cash into firstcoin as well.
If an affiliate manages to recruit five other members that invest, they’ll start earning a 20% commission on their sixth and higher recruits.
What’s Does It Cost To Join FirstCoin Club?
In order to join FirstCoin Club, you’ll need to invest in one of the tiers I outlined above.
As such, your joining cost will range from $200 or $25,000+.
With FirstCoin Club, investing more will increase your earning potential throughout the company.
Is FirstCoin Club A Scam?
Have you heard from a friend that FirstCoin Club is a scam?
Based on this review, it might be hard to tell.
What exactly is the truth about FirstCoin Club – is it a scam or legit?
Good news – FirstCoin Club is not really a scam.
But, be sure to take a look at the conclusion, because there are some things you should be aware of.
This is how you will build a successful in your business.
Let me help you make more money.
FirstCoin Club Review Conclusion
The MLM space has recently been crowded with opportunities claiming to have the next best thing since bitcoin with their own form of cryptocurrency, and that’s the exact sort of company we’ve got with FirstCoin Club.
FirstCoin Club is asking individuals to invest real money into the firstcoin cryptocurrency so they can earn a monthly ROI, but there’s a problem here.
Firstcoin is not publicly tradable on any market, meaning that it’s virtually worthless outside of the FirstCoin Club system.
Furthermore, FirstCoin Club reports that 110 million firstcoins currently exist, with 109.9 million of them already being pre-mind. As you might expect, the anonymous admin(s) running this show own all of those pre-mind points.
Add all of this together, and FirstCoin Club turns out to be a pretty typical Ponzi point business model.
Like with all schemes along these lines, FirstCoin Club will be out the door once investment activity eventually dies down. This will result in no more money making its way into the company, and once this happens, the anonymous admin(s) will make off with the lion’s share of the dough that’s been invested.
This will leave most all affiliates to lose out, and the chances of recovering lost funds will be slim to none.
I sure hope that you have found my FirstCoin Club review helpful for you.
Some other reviews have been pretty scant on details, and I wanted my FirstCoin Club review to have all the information for you.
If you decide to carry forward with FirstCoin Club, make sure you make the most out of it and learn how to market yourself online.
Click to get my free training that shows you how.