KaratBank Coin is a New ICO From KaratBars
You may have noticed that Karatbars International is getting a lot of hype and attention these days.
You might have had some friends in Network Marketing approach you about Karatbars International, or you may have seen it on social media.
I want to let you know, first of all, that I am NOT promoting Karatbars International as my own business opportunity. I am not an affiliate or distributor.
I have gathered here all the facts about Karatbars International in my Karatbars International Review – now you can learn all you need to know about it.
Is Karatbars International really a legit business?
Is Karatbars International a safe business to join?
Let me show you in my review of Karatbars International.
Get started by reading my review below.
Exactly What Is Karatbars International?
If you’ve spent any amount of time in the MLM space recently, you’ll know that ICOs are currently one of the most popular trends going around.
It seems like everyone and their cousin is coming up with their own ICO to offer, and the latest to follow suit is that of KaratBars International.
For those that aren’t familiar with the company, KaratBars International combines elements of a pyramid scheme and selling gold. While you can technically buy gold from the company, its compensation plan makes it clear that the main focus lies with that of recruitment above all else.
With that said, KaratBars new ICO is called KaratBank Coin and is described as follows:
“KaratBank Coin is a blockchain-based cryptocurrency that is linked to physically deposited gold in the form of the so-called CashGold. Each 10,000 KaratBank Coins can be exchanged for 0.1g CashGold at any time.”
Additionally, KaratBank Coin’s official website is used to say that “the idea behind CashGold is to implement small gold bars on a specific paper which partially looks like a bank note. However, instead of mentioning a specific currency amount, the weight of the implemented gold bar is displayed.”
To give some context to this, you can then see an image of bits of paper that each have a bit of gold on them. For all intents and purposes, this is what CashGold is supposed to be.
KaratBank Coin goes on to say:
“Each coin represents an imaginary certain weight of gold whereby a quantity of 10,000 KaratBank Coins can be exchanged for physical gold in the form of 0.1g CashGold.”
KaratBank Coins (KBC) are being sold to affiliates between 1 cent and 5 cents per each one, but if an affiliate chooses to buy any, they’ll need to make purchases in 1000 KBC increments.
The entire setup for KaratBank Coins is very suggestive of a pyramid scheme, and when you consider that this is coming from the same minds behind KaratBars, that shouldn’t be very surprising.
As if that wasn’t a big enough red flag on its own, it’s also important to take note of the following:
“United States of America citizens, residents (tax or otherwise) or green card holders as well as residents of Canada, the Peoples Republic of China or the Republic of Singapore are not eligible to participate in the KaratBank ICO.
The United States of America include Puerto Rico, the U.S. Virgin Islands, and any other possessions of the United States.”
ICOs are offered all the time in the United States, but in order to legally do this, you need to register with the SEC. Companies that choose to offer ICOs without first registering and then promoting illegal securities, and this usually results in them getting in a lot of trouble.
Based on what I’m seeing here, it looks like KaratBars knows these countries wouldn’t want anything to do with what it’s offering, and as such, has simply chosen to not do business with anyone there.
You can spend as much as 10,000 EUR on KBC if you feel so inclined to do so, and if I’m being perfectly honest, I’d suggest taking your time and money elsewhere in this case.
KaratBank Coin is structured to be a pyramid scheme that cashes in on the hype surrounding cryptocurrency, and it’s being targeted most heavily towards KaratBars affiliates that have lost out and want an easy way to earn even more than originally offered.
There’s far too many red flags flying around with KaratBank Coin, and as such, I’d say to stay as far away from it as you can.
Is Karatbars International A Scam?
If you have heard that Karatbars International is a scam, then you’ve come to the right place to find out the truth.
What’s the truth – is Karatbars International a scam?
I would say not exactly. However, there are some things to be aware of before joining, which I have detailed in the conclusion.
You will only be successful by recognizing the weaknesses and finding a way to move past them.
Conclusion For My Karatbars International Review
I definitely hope you have found value in my Review of Karatbars International.
I went into a lot of detail so that you can make a proper decision about whether you want to join or not.
If you do decide to proceed with Karatbars International, make sure you take the time to learn how to market yourself!
My training below can help you with that.