PlatinCoin Review – Is This A Good Opportunity Or Big Scam?
In the last few weeks, PlatinCoin has been getting a lot of attention in the network marketing circles.
With all this hype, I am sure you have seen some of your friends trying to sell PlatinCoin in your social media feeds.
The first thing you need to know is that I am NOT an affiliate or distributor for PlatinCoin.
I wanted to gather all the information about PlatinCoin in my PlatinCoin Review in order for you to make a decision about joining PlatinCoin.
Is PlatinCoin legit or a scam?
Will it be able to deliver on it’s promises to you?
Let me show you in my unbiased review of PlatinCoin.
Read on to find out what you need to know.
What The Heck Is PlatinCoin?
In the case of PlatinCoin, you won’t find any sort of background information on the company’s website at all.
I did what I could to find any sort of info that would help paint a picture for who’s running the company, where it’s based out of, etc., but there’s simply nothing on the website that helps to make these points clear.
With that said, things do start to make a bit of sense once you look into the domain name registration. The domain for the site (platincoin.com) was registered on July 4 of last year (2016), and the registration took place at an address in Zug, Switzerland.
I looked more into the address that’s provided here, and seeing as how it is owned by a company called Regus, it’s safe to say that PlatinCoin only exists in Switzerland for the namesake alone.
Along with all of this, the registration also cites the owner of the domain being that of PLC Group AG. After digging through plenty of marketing videos for PlatinCoin, I was able to learn that the current CEO for the company is Alex Reinhardt.
Reinhardt is currently located over in Germany, and this is likely where PlatinCoin is physically being run out of as well.
Following plenty of digging into Reinhardt’s past, it became apparent rather quickly that Reinhardt was heavily involved with the SwissCoin Ponzi scheme before launching PlatinCoin.
Alex Reinhardt was part of SwissCoin’s “Team Germany” arm, and he also had a rather high rank within the company’s compensation plan.
SwissCoin was soon hit with warnings from Switzerland, Germany, and Nigeria after its launch, and early in 2017, Switzerland decided to file legal action with the company.
This filing was the beginning of the end for SwissCoin, as Alexa rankings for the company’s website show that site traffic started going nowhere but down once Switzerland decided to take action against SwissCoin.
The collapse of SwissCoin likely caused Reinhardt to lose a bit of money, and this whole ordeal is more than likely what prompted the man to go about with the launch and creation of his very own opportunity — PlatinCoin.
What Are The PlatinCoin Products?
As you’d probably expect from a former affiliate of a Ponzi scheme, PlatinCoin isn’t selling any goods or services to retail customers whatsoever.
There’s no product line to speak of here, and current affiliates have only the affiliate membership to offer to people that are looking for a new income opportunity.
When someone does decide to join, they are given access to the following things —
- PLC Network — in-house social network
- PLC Market — e-commerce system
- An “online platform with training content”
Although PlatinCoin is advertising PLC Network and PLC Market to prospective members, it’s worth noting that neither of these two services have actually launched yet.
What About The Compensation Plan For PlatinCoin?
On the compensation plan side of things, affiliates for PlatinCoin are tasked with investing their money into PlatinCoins — a form of cryptocurrency being offered by PlatinCoin.
Investment amounts range from 5 EUR all the way up to 10,000 EUR, and at the time of writing this review, PlatinCoins have a value of 0.10 EUR per one coin.
PlatinCoins aren’t tradable on the public market in any fashion right now, and the only thing they can be used for is to exchange them for real money through PlatinCoin’s own exchange system, (Turbo Button PLC).
In addition to the ROI that’s offered through the investment into PlatinCoins, PlatinCoin also allows its members to earn through residual commissions.
Residual commissions are paid through a unilevel setup, and in this case, choosing to invest more and more into the company increases the amount of money you can earn from these available commissions.
What’s The Cost Of Joining PlatinCoin?
Joining PlatinCoin will require you to make an investment of at least 5 EUR, but if you’d really like to maximize your chance of earning with PlatinCoin, you can increase that amount all the way up to 10,000 EUR.
In this particular situation, investing more and more money will allow you to potentially earn more throughout the entirety of the compensation plan.
So, Is There A PlatinCoin Scam Going On?
Have you been hearing rumours that PlatinCoin is a scam?
After reading this review, you might still be asking yourself if it is really legit.
So – what is the truth? Is there really a PlatinCoin scam going on?
If I am being perfectly honest, PlatinCoin isn’t entirely a scam.
However, there are some things you need to watch out for.
This is how you will be successful in online marketing. See the image below for details.
Finally, My PlatinCoin Review And Conclusion!
After reading through this much of the review, it should be quite obvious that PlatinCoin is running a setup where affiliates invest money into cryptocurrency coins in order to receive an ROI off of them.
As clear as this may seem, PlatinCoin is trying to say otherwise for some reason.
According to the company, “We do not sell coins, we sell the training content and technological solutions.”
Oh really? Then why in the world do other parts of the compensation plan and PlatinCoin website indicate clearly that affiliates are asked to invest Euros into PlatinCoins?
PlatinCoin claims that it’s able to generate the adverted ROI through a whole assortment of different income streams, but the only source of revenue currently funding the company is that of affiliate investments.
The use of newly invested funds to pay off owed ROIs is the purest definition of a Ponzi scheme, and that’s exactly what we’re dealing with when it comes to PlatinCoin.
A setup like this means that the company will shut down once investment activity eventually stops, and once it does, Reinhardt will run off with whatever he’s earned during the duration of his company.
Most people who get involved with PlatinCoin will end up losing out, and since PlatinCoins aren’t accepted anywhere outside of the PlatinCoin system, affiliates who don’t exchange their coins for real dollars before the company collapses are going to be royally screwed.
I really hope you have gained value from my Platincoin Review.
I wanted to make sure you had all the information you needed, because most other Platincoin reviews are just trying to sell you something.
If you really do decide to join Platincoin, I want you to succeed with your business. Learn how to market yourself properly!
My training can help you make money online!