My Trader Coin Review – Is This A Good Opportunity Or Big Scam?
My Trader Coin 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 My Trader Coin.
I have simply gathered for you all the facts in this My Trader Coin Review in order for you to make a proper decision about it.
So, is it true? Is My Trader Coin a scam?
Can it really help you build an online empire?
Let’s carry on with the review.
What Is My Trader Coin?
My Trader Coin is one of the most recent MLM opportunities that I’ve seen hit the market, and my first impression of this particular company isn’t a good one at all.
Right off the bat, the My Trader Coin website leaves a whole lot to be desired.
Background information is key when it comes to any MLM opportunity, but the folks behind My Trader Coin must not have gotten this memo.
I say this because the site doesn’t offer any indication in regards to who owns the business, where it’s based out of, when it was launched, etc.
In order to find any of this info, you need to do a bit of digging outside of the website.
According to Alexa rankings for the My Trader Coin website, the main sources of traffic for it include the following countries —
- Ecuador with 25% of all site traffic
- Brazil with 19% of all site traffic
- Spain with 15% of all site traffic
- The United States with 14% of all site traffic
- The Dominican Republic with 11% of all site traffic
The information presented here lines up nicely with the three available languages on My Trader Coin’s website (English, Spanish, and Portuguese), and it’s also a strong indicator that the people running the company are doing so out of one of these areas.
With even more research, I was able to learn that a “top leader” for the My Trader Coin opportunity goes by the name of Andre Feitosa. Feitosa is apparently friends with Sann Rodrigues, and if that name sounds familiar to you, that’s because Rodrigues has been scamming people in the MLM world since early 2015 with iFreeX.
As for Feitosa, the man was seen promoting another opportunity (Bit Trader Banking) at one point earlier this year. The company features a very similar compensation plan to that of My Trader Coin, and it also appears to have collapsed around February, 2017.
Seeing that My Trader Coin was launched just about a month later in March, it’s quite evident that Feitosa is relaunching his failed Bit Trader Banking opportunity under the new name of My Trader Coin.
What Are The Products For My Trader Coin?
If you were hoping for a big, elaborate product line to read about here, you’re going to be mighty disappointed. Similar to most other opportunities along these lines, My Trader Coin doesn’t have any goods or services to speak of.
Absolutely nothing is being sold or marketed to retail customers, and this means that affiliates are stuck with just the affiliate membership to “sell” to potential “customers.”
When someone does decide that they’d like to join My Trader Coin, they will be given access to a social media network by the name of “AliveApp”, along with the ability to do something with a cryptocurrency called “LifeCoin.”
My Trader Coin doesn’t go into a lot of detail as to what either of these two entities actually do or consist of, but seeing as how they don’t have any place throughout the compensation plan, they likely serve no real purpose at all.
What Is The Compensation Plan For My Trader Coin?
When it comes to making money with My Trader Coin, affiliates must invest money into the company so that they may secure an ROI.
This ROI is paid out on a daily basis, and is paid like this for a total of 300 days.
There are numerous investment packages that affiliates can choose from, and they include —
- Plan 100 — Affiliates who choose this plan invest $100 so they can get an eventual $300 ROI that’s paid out as $1 per day
- Plan 500 — Affiliates who choose this plan invest $500 so they can get an eventual $1800 ROI that’s paid out as $6 per day
- Plan 1K — Affiliates who choose this plan invest $1000 so they can get an eventual $3600 ROI that’s paid out as $12 per day
- Plan 5K — Affiliates who choose this plan invest $5,000 so they can get an eventual $16,800 ROI that’s paid out as $56 per day
- Plan 10K — Affiliates who choose this plan invest $10,000 so they can get an eventual $33,600 ROI that’s paid out as $112 per day
- Plan 50K — Affiliates who choose this plan invest $50,000 so they can get an eventual ROI of $165,5000 that’s paid out as $550 per day
Affiliates can also secure a 20% referral commission for any investments made by personally recruited affiliates, but it’s also worth keeping in mind that every single person within My Trader Coin must pay a 10% fee based off of how much money they choose to invest.
Also peculiar here is the fact that this fee can only be paid in bitcoin and nothing else.
What’s Does It Cost To Join My Trader Coin?
If you would like to join My Trader Coin for some ungodly reason, you’re looking at an investment cost between $100 and $50,000.
Is My Trader Coin A Scam?
Have you heard from a friend that My Trader Coin is a scam?
Based on this review, it might be hard to tell.
What exactly is the truth about My Trader Coin – is it a scam or legit?
Good news – My Trader Coin 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.
My Trader Coin Review Conclusion
According to My Trader Coin’s website, the company is able to generate its offered ROI through the trading of cryptocurrency.
As per the official website, “Our unique investment system analyzes the best opportunities in the market, offering highly profitable investments to our affiliates.”
This sounds good at first, but it starts to fall apart incredibly quickly when you realize that there isn’t any proof at all to back it up.
The only identifiable source of income for My Trader Coin is that of affiliate investments, and this means that this money is being turned around to pay the ROIs that My Trader Coin is advertising,
As a direct result of all this, My Trader Coin is functioning as just another Ponzi scheme.
A drop in investment activity will mean the end for this company, and when that time comes around, Feitosa will run off with the majority of all the money that’s been dumped into this company.
This will leave most everyone else to end up losing out, and while this is a sad fate for sure, it’s the case that’s usually seen with Ponzi schemes like this.
I sure hope that you have found my My Trader Coin review helpful for you.
Some other reviews have been pretty scant on details, and I wanted my My Trader Coin review to have all the information for you.
If you decide to carry forward with My Trader Coin, 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.