Is Platincoin Scam? – A Pyramid Scheme in Disguise!
If you are looking for an Unbiased Platincoin Review, then coming here puts you to a good start.
- Is Platincoin a scam?
- What is this company all about?
- The potential of this business platform?
- Is it worth your time?
This comprehensive 5-minute read about Platincoin will provide you the answer to all the questions above – and more!
Platincoin Review Summary
Owner: Alex Reinhardt
Price: € 107 – € 9,951 (~$121.84 – $11,331.55)
Bare Naked Scam Rating:
There has been a lot of buzz going on about Platincoin lately…
With all the attention, it is not surprising that the company hit the radars of entrepreneurs and investors.
Some groups declare Platincoin to be a legit MLM company.
Other people has a different story to tell.
I am in no way affiliated with Platincoin, so rest assured what I offer you today is the bare naked truth about the company.
I gathered all the information I could get from different reliable sources available hoping to set you straight on the proper course of action to take regarding this company.
Without much further ado, let’s answer the most basic question that brought you here today.
What is Platincoin
Platincoin is an MLM crypto company that claims to leverage blockchain technologies, global business, and social platforms.
The company’s goal is to build an innovative cryptosystem and make it available to people from all walks of life.
Platincoin explains that you do not have to be an expert in expert and technical processes to grow your income.
By becoming a member…
The company will “rent” you the tools and dedicated “minting equipment package” to get you started.
The Minting Equipment Package Includes:
- Hardware as a dedicated server resource
- Your unique user ID that shows that this Minting Unit belongs to you
- An expanded separate blockchain node as Software
- A fine-tuned and pre-installed Blockchain Wallet with a full set of rented coins necessary for successful minting
- A certain number of coins included in the equipment set is an integral part of the minting process; however, the user shall not become the owner of these coins
- A controller that will monitor the automated and correct crediting of minted coins.
The Man Behind Platincoin
When you visit the Platoncoin’s official website, you will notice that it does not provide much information about the company’s background, including the personalities that run this institution.
However, by doing extensive research about the company, I was finally able to learn that the current CEO for the Platincoin is Alex Reinhardt.
Reinhardt was part of the SwissCoin Ponzi scheme. In early 2017, Switzerland decided to file legal action with SwissCoin which eventually leads to its collapse.
A Legitimate Way to Earn Money Online. Click Here!
What are Platincoin Products
If the track record of the company’s CEO raises some issues for you, then you might not like what you will learn next.
Talking about products, Platincoin has no retail-able products or services at all.
As an affiliate member, you will only be able to sell the Platincoin affiliate membership itself. I don’t want to jump into conclusions here but base on these 3 facts:
- Unclear company background
- Sketchy (Hidden) owner personal information
- No retail-able products
These are the common telltales of a scam or a pyramiding scheme. I am not saying that Platincoin is, per se.
However, I am beginning to understand why an increasing number of people is saying it is.
Is Platincoin an MLM Company or a Pyramid Scheme?
Yes, Platincoin claims that they are an MLM company.
Although, the fact that the company does not have a retail-able product for its members dangerously groups them among the existing pyramiding schemes out there.
Contrary to the popular beliefs, an MLM company does not necessarily mean it is a Pyramiding scheme.
There is a clear distinction between legit MLM companies and Pyramiding schemes disguised as MLMs.
This 2-minute video will give you everything you need to know about MLM vs. a Pyramid Scheme.
Now based on that video you just watched, let me ask you a question.In your own opinion…
Does Platincoin fall under a legit MLM or a Pyramid Scheme? You can leave your reply on the Comment Section below.Granted…
That Platincoin is a legit MLM company, did you know that there is a 95% failure rate for members of MLM companies?Yes. This statistics has been accurate and is still true all across the MLM companies in the entire world today. (I will discuss more about this below)
The 4 Platincoin Platforms
Although Platincoin has no products, it does not mean that you do not get an ROI when you become a member.
The Platincoin affiliate membership provides a person access to its 4 different platforms.
PLC Network is the official Platincoin social network. The company highlighted that it is not only a global social network community where everyone can find and meet their fellow members. The PLC Network also acts as the gateway for members to access adequate and useful tool for business communications.
This is basically a crowdfunding platform by Platincoin. This feature gives members the chance to support new and upcoming business startups. An agreed percentage of that business’ profits will then be returned to Platincoin and will be divided among the network users and members.
(Hmm I actually like this)
The platform for crypto coins traders. The PLC Market comes with a “Platincoin Compensation” plan where every member affiliate is promised a return of interest based on their investments.
The official Platincoin learning and training platform. This platform is the one responsible for educating Platincoin members about the essential skills and knowledge one must possess before engaging in the crypto trade.
Platincoin Compensation Plan
Platincoin members or affiliates are compensated by investing their ROI into “Platincoins” — a form of cryptocurrency being offered by PlatinCoin.
In addition, Platincoin also allows its members to earn through residual commissions which will be paid through a unilevel setup.
Platincoins aren’t tradable on the public market. The only thing they can be used for is to exchange them for real money through Platincoin’s own exchange system, the Turbo Button PLC.
How to Join Platincoin and How Much will it Cost?
Becoming a member of Platincoin is pretty easy. All you need to do is visit the PlatinCoin website at www.platincoin.com and register for free.
Once you completed this…
You can start doing business with PLC by buying different business packages.
These packages are:
As you can see, each business packages includes a certain ROI (in addition to access to the 4 Platforms) in forms of Rented PLC Equipments, Platincoins, Online Courses, Advertisement Points and Voices (votes) for the crowdfunding in PLC Business.
On this part of this Platincoin review…
Let’s discuss the issue that we left hanging for a while.
4 Reasons Why there is a 95% Failure Rate in the MLM Industry
Not Enough Training/Education
Being a distributor (member) of an MLM company does not automatically mean that you can do the selling and recruitment as natural as breathing.
One of the main reason why people fail in this industry is that of the lack of knowledge and skills due to insufficient company training and coaching.
For example in Platincoin, how many people do you know have expertise when it comes to cryptocurrencies. You will be lucky to have 1 out of your 10 friends.
It is unfortunate that most of the distributors these days no matter how driven by their passion and fueled by their dreams still come short because they lack the necessary knowledge on how to close sales.
Not Enough Leads
Any business needs a continues supply of leads to prosper and grow. In the case of Multi-Level Marketing (MLM), you need prospects who will buy your products or becomes a member themselves by your referral.
In connection to the one above, how many of your friends are interested in cryptocurrency. How many of your friends an additional source of income and in fact, how many of them know that they need your business?
Selling is an art; so is recruitment. Sure at first you have a seemingly “unlimited” source of prospects in your family and friends.
However, if you do not have a clear and effective success formula (like this one) on how to do your business, you will find soon enough that you do not have people to talk to regarding your business.
Let’s face it. A large number of people joins MLM companies because they thought that this is a get-rich-quick scheme!
I am not saying that it is entirely their fault. Maybe they have been promised candy and chocolates by the people that recruited them.
However, success in the MLM industry required hard work, perseverance, and patience. Most people failed in this industry because they think otherwise.
Flawed Company Compensation Plan
It is not uncommon for an MLM company to collapse and completely shut down because of a flawed compensation plan.
MLM companies especially the ones founded by people who are not actual network marketers are the most common to experience this dilemma.
Some companies overpay, others underpay, while some other falls into controversial compensation plans such as pyramiding schemes.
It is your job to filter each of these companies properly to avoid wasting your time and investment into the wrong MLM company.
Is Platincoin a Scam?
Again, I wouldn’t say that Platincoin is a scam, but I also wouldn’t go ahead and recommend this business platform.
Although Platincoin offers a promising business concept in integrating cryptocurrency on the MLM platform, I cannot turn a blind eye to the red flags that I have mentioned earlier.
For those who are ready to jump in due to the hype and promises given by Platincoin, I beg you to reconsider. If you really want to, then I urge you to learn more about Platincoin.
I am pretty confident that I covered everything on this Platincoin review, but it won’t hurt to do your own research. I know how hard you might have been working for that savings and I do not want your investments ending up in tears.
But if you are willing to reconsider another way to make money online…
Then I strongly recommend this program instead.
For those of you who have already invested in Platincoins, I could also be wrong (and I pray that I would be wrong) about my assumptions for your company.
Platincoins is a newcomer in the MLM industry, and a lot can still happen. Depending on the things that unfold within the next coming months, I will be updating this review to provide with much more reliable information.
Until here and I wish you all nothing but success.
Do you have more information about Platincoin? Is Platincoin a scam after all? Kindly help me enlighten other people and let us hear your thoughts on the Comment Section below.