Is Xtreme Coin a Scam? – The Truth Revealed!!!
Name: Xtreme Coin
Bare Naked Scam rating: 4 Thumbs Down
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Cryptocurrency became a hype ever since Bitcoin was introduced in the market.
From then on, different cryptocurrencies sprouted from every corner of the online world, and one of this is Xtreme Coin.
You might have been introduced to this cryptocurrency and thinking if this is a good opportunity to earn money. But have you ever asked yourself “Does it really work, can you really make money with it?”
It’s a good thing that you found this review because I am going to share with you everything you need to know about Xtreme Coin before you dive in.
But before anything else, I truly believe that you need to know what exactly you are investing in, So, here’s a brief background what cryptocurrency is.
What is Xtreme Coin?
Upon checking, there is really nothing much that you can find on Xtreme Coin’s website.
There is nothing written about its founders and when this business started.
It’s actually ironic because you will find in their website that they are committed to transparency, but you can’t find anything about the people behind this cryptocurrency mining business.
A red flag is definitely up when a company discloses too little information about its background.
However, I made a more thorough research and found out that Xtreme Coin’s website was privately registered on May 30, 2017. So this will give you an idea how new this company is.
I also found a video that caught my attention.
It was a marketing video from Darren Little’s channel in Youtube wherein they found out that the man behind Xtreme Coin is the same man behind Ingresso Cybernetico. (Sorry, video has been deleted).
Ingresso Cybernetico was headed by Dwayne Golden, but there was no evidence that this man is the “main owner” of Xtreme Coin.
Ingresso Cybernetico was a multi-level marketing that failed after it has experienced a sharp fall in January this year.
What you need to know about Xtreme Coin…
Xtreme Coin also makes use of the Multi-Level Marketing (MLM) structure as a channel of distribution.
In order for you to earn, you need to recruit other members who will agree to use this cryptocurrency.
The problem with this is that there is a risk of investing into this Cyrptocurrency. Why?
In order for a crytocurrency to have some form of value, it has to be listed on a Cryptocurrency exchange, and the value of the cryptocurrency will depend on the volume of transactions.
At the current stage, Xtreme Coin is not listed on any exchange, and it is definitely not transacted anywhere.
If you are investing in Xtreme Coin, you run a risk of it not being listed on any cryptocurrency exchange.
So, for you as an investor, it is really important for you to know who is behind the driving force of this company, because the management of this company will determine the value (volume of transactions) of Xtreme Coin.
I’ve seen too many failures in MLM companies that distributes cryptocurrency, because their coin didn’t get listed, and therefore there is no purpose of the coin.
Every cryptocurrency has a purpose, whether it is to pay for large transactions like a real estate deal or a small transaction like buying groceries from a supermart. A successful cryptocurrency is one that is widely transacted by the general public (like Bitcoin).
A good example of a failed cryptocurrency is Global Coin Reserve (GCR). GCR is very similar to Xtreme Coin (being MLM), and it is one of the Cryptocurrencies that got listed on an exchange.
However, as of December 2015, the company decided to shut down its operations, and what happened to all the investors? They lost their entire investment and they are stuck with worthless coins.
I’m sorry, but up to this point, I haven’t seen a successful cryptocurrency that is driven by an MLM company. Which is why I’m biased against this “business opportunity”.
No doubt that you can earn some money recruiting people to this program, but if Xtreme Coin doesn’t get listed, or doesn’t have a purpose for existence, this could easily become a pyramid scheme.
Here’s what a pyramid scheme is all about (No product focus, recruitment driven).
My question to you is, would you want your friends or family members to participate in a potential pyramid scheme?
The Xtreme Coin Packages- What they Offer
This cryptocurrency multi-level marketing or CryptoMLM, as I call it, does not sell any products or any services; instead it sells memberships in different packages.
It also promises to triple the return of your investment because of its 2×2 matrix.
Here’s how it works. You need to buy a package from them to become a member.
After which, you need to recruit two persons who will buy their chosen packages.
From here, you will earn a commission, and when your two immediate recruits are able to recruit two other people each, you will get another incentive and the cycle goes on.
To better understand their 2×2 matrix, you may check out this video:
The Xtreme Coin Membership Packages
It costs .05 BTC and promises a payout of .15BTC. It also claims to include first class support, hotel benefits and discounts, but which hotels?
You will not find any list of hotels on their website where your Xtreme Coin membership is honored.
Your best hope is for the management of Xtreme Coin to negotiate deals with hotels to accept Xtreme Coin as payment for its services.
It costs .10BTC and has a payout of .30BTC.
It also includes exclusive discounts on condos and spur of the moment trips. So here we go again.
They are giving away discounts for something you don’t really know.
It costs .25BTC and has a payout of .75BTC.
It also includes first class support and discounts on car rentals, maybe on a taxi?
There are no specific conditions written on their website so I guess this is just to attract potential clients?
It costs .50 BTC and has a payout of 1.5BTC. It includes first class support from maybe their customer support?
It also offers exotic vacation discounts. I wonder what kind of exotic vacation they are referring to.
It costs 1 BTC with a payout of 3 BTC.
This package includes first class support; again, I am not sure from whom or for what because they did not give any details about it.
6. Blue Diamond
It costs 4 BTC and has a payout of 12 BTC and a first class support.
7. Xtreme Diamond
It costs 10 BTC with a payout of 30 BTC. And then again, a first class support is included in this package.
My Honest Opinion
First of all, for Xtreme Coin to have a value it must be listed on a Cryptocurrency exchange.
At the current moment, it is not listed on any exchange. You run a risk of losing your investment capital if the company decides that the coin is NOT to be listed on an exchange (I’ve seen too many examples of this happening).
Another thing you must consider is if this cryptocurrency is being used, because if it is not, it still has no value even if it gets listed on a cryptocurrency exchange.
So there is a very large risk of losing your money if you are going to invest with this company plus the fact that you don’t really know who operates Xtreme Coins.
Its compensation plan is like a pyramid scheme where you need to recruit other people to get back your money, but based on what I’ve seen on different CryptoMLMs, they usually fail after a few years.
You might see good reviews of CryptoMLMs all over the internet, but these may be just marketing strategies.
These might be persons who already lost their money and are trying to get it back by attracting new recruits.
As a conclusion, I don’t think it will be a good idea to join Xtreme Coin because you might just be putting your hard earned money into waste.
So, if this business opportunity is not for, but you are still looking for a way to earn more money, what’s next?
If you’ve read some of my reviews, you’ll know that I was a part of many MLM companies and didn’t achieve any success until I found this program (Not MLM).
This program has turned me from a nobody to a somebody online, and it cost almost nothing to start.
Wishing you all the best in whatever decision you’ll make, and thank you for reading this review!
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