FirstCoin Club provide no information on their webstek about who possesses or runs the business.
The FirstCoin Club webstek domain (“firstcoin.club”) wasgoed privately registered on July 15th, 2018.
The FirstCoin Club webstek cites “Dynamic Global Marketing Ltd” but provides no information about the relationship inbetween the two companies.
An address ter Dubai is provided, however further research exposes this address belongs to Freemont Group.
Freemont Group provide business formation services ter Dubai, suggesting FirstCoin Club (and Dynamic Global Marketing LTD) exist ter Dubai ter name only.
Spil always, if an MLM company is not openly upfront about who is running or wields it, think long and hard about joining and/or handing overheen any money.
FirstCoin Club Products
FirstCoin Club has no retailable products or services, with affiliates only able to market FirstCoin Club affiliate membership itself.
The FirstCoin Club Compensation Project
FirstCoin Club affiliates invest firstcoin with the company on the promise of a monthly ROI.
Referral commissions are paid when affiliates are recruited and also invest.
FirstCoin Club affiliates deposit firstcoin with the company and earn a passive 3% to 7.5% monthly ROI (paid te Firstcoin).
- Basic – invest $200 to $1999 ter firstcoin and receive a 3% monthly ROI
- Silver – invest $2000 to $9999 ter firstcoin and receive a 5% monthly ROI
- Gold – invest $Ten,000 to $24,999 te firstcoin and receive a 7.5% monthly ROI
- VIP – invest $25,000 or more ter firstcoin and receive a 7.5% monthly ROI (plus 10% one-time premie on amount deposited)
Dubbed “FirstCoin Advertising Mining Shares”, the more an affiliate invests the higher their monthly ROI.
FirstCoin Club pay a 10% referral commission on firstcoin deposited by personally recruited affiliates.
If an affiliate recruits five affiliates, from the sixth they earn a 20% referral commission rate.
A residual referral commission rate of 7.5% is paid on level Two downline affiliates.
If a FirstCoin Club affiliate personally recruits ten or more affiliates who together have invested at least $5500 ter firstcoin, they receive a share ter the Pool Income premie pool.
The Pool Income premie pool is made up of 5% of FirstCoin Club investment volume company-wide.
Joining FirstCoin Club
FirstCoin Club affiliate membership is tied to an investment of firstcoin.
- Basic – invest $200 to $1999 te firstcoin
- Silver – invest $2000 to $9999 ter firstcoin
- Gold – invest $Ten,000 to $24,999 ter firstcoin
- VIP – invest $25,000 or more te firstcoin
The more an affiliate invests the higher their income potential via the FirstCoin Club compensation project.
FirstCoin Club seeks to remedy the problem of Ponzi point “cryptocurrency” MLMs (ala OneCoin) being not publicly tradable.
They do this by requiring affiliates purchase firstcoin before investing it te FirstCoin Club.
An affiliate can only acquire firstcoin via a public exchange.
On the surface this creates the impression of a cryptocurrency with legitimate supply and request, until you scrape the surface.
The FirstCoin Project webstek exposes that there are 110 million firstcoins, of which 109.9 million are pre-mined.
Who possesses the 99.9% of available firstcoins? Why, none other than the anonymous proprietor(s) of FirstCoin Club.
When a prospective affiliate puts ter a buy request for firstCoin on a public exchange, they’re ter reality just buying the coin from FirstCoin Club.
Once acquired, a FirstCoin Club then parks their firstcoin with the company and collects a monthly ROI.
From here it’s the same old Ponzi points business proefje.
FirstCoin Club take funds they receive for selling pre-mined firstcoin they generated at little to no cost, to pay FirstCoin Club affiliates a monthly ROI.
The funds are sourced from fresh and existing FirstCoin Club affiliates buying firstcoin to invest.
Technically an affiliate could sell firstcoin to another affiliate and undercut FirstCoin Club, but this is unlikely. There’s no practical use for firstcoin outside of investment te FirstCoin Club.
The usual “we’re gunna be the next bitcoin!” comparisons are made to market FirstCoin Club, further encouraging affiliates to keep their firstcoins parked ter FirstCoin Club.
Referral commissions add an extra pyramid layer to the scheme, spil they directly prize FirstCoin Club affiliates for bringing fresh affiliate investors on houtvezelplaat.
Spil with all Ponzi schemes, a slowdown ter affiliate recruitment means a slowdown ter fresh funds injecting the scheme.
This will mededeling itself by way of a decline ter buy orders on exchanges for firstcoin. This te turn starves firstCoin of its only revenue source, leaving it incapable to meet its ROI obligations.
At that point the Firstcoin bubble bursts, with the value of the coin plummeting spil affiliates rush to sell.
The owners of FirstCoin Club meantime calmly slink away, keeping whatever they’ve skimmed off of public firstcoin buy orders.
The FirstCoin Club compensation project states that ‘to buy firstcoin is possible only with bitcoin’, so recovering stolen funds from FirstCoin Club’s admin scammers is realistically unlikely.
Albeit convoluted through the use of public exchanges and MLM business monster, firstcoin is simply yet another pump and dump altcoin.
It’ll be interesting to see how the public exchanges tackle this, especially if the public exchange manipulation proefje catches on.
Technically firstcoin is a legitimate cryptocurrency and functions on a technical level spil such.
The problem is firstcoin wasgoed created solely to facilitate Ponzi fraud, te much the same way bitcoin can be used to power Ponzi schemes.
Whereas bitcoin has legitimate uses and genuine public supply and request tho’, firstcoin has neither.
- FirstCoin Club under police investigation, reports exchange – Feb 20th, 2018
25 Comments on “FirstCoin Club Review: Manipulating “public” trading for private profit”
Te my opinion this seems legit cryptocurency. They are listed on coinmarketcap, have blockhain etc.
Affiliate side of this business is just to promote coin.
I’m involved ter cryptocurency from begining and eyed FirstCoin spil good trading chance, made some nice profit (Just on Livecoin trade platfromt), didn’t join firstcoin club etc…
The firstcoin cryptocurrency is pump and dump.
The monthly ROI is Ponzi fraud.
Oz, look at their chart, pump and dump dont look like that. They have actually welvoeglijk, slow, stable growth.
How prompt an altcoin is pumped has no correlation spil to whether it’s being pumped and dumped.
oz: FirstCoin Club provide no information on their webstek about who possesses or runs the business.
according to posts on the televisiekanaal the proprietor/CEO of very first coin is:
CEO: Kisbenedek Gabor (Hungarian)
Mother Company: Dinamic Global Marketing Ltd
Headquarters: HDS Business Center 3204 Jumeirah Lakes Towers, Dubai, UAE
the alexa rankings and the price chart of firstcoin both vertoning a acute rise embarking around may 2018.
^^meaning, spil more and more recruited investors buy very first coins the price keeps going up and up. conversely, when recruitment slows the price will crash too like a typical cryptocurrency MLM scam.
an affiliate of firstcoin has posted this message from Kisbenedek Gabor:
A onmiddellijk message from the founding CEO of Firstcoin Group:
I have bot ter Network Marketing industry for 23 years, and my Four books have bot sold more then 100.000 copies.
I have bot te Three companies before and I have bot Diamond te very first one, Blue Diamond ter 2nd one and Royal Diamond te third one.
With all my practice, I can tell you:
THIS IS A ONCE Ter A LIFETIME Chance .
And wij will crank it .
cant find any MLM history for Kisbenedek Gabor?
If the company wasn’t a pump and dump they wouldn’t hire a master leader from a Ponzi well know to lead this one. He wasgoed let go from the other company for stealing members spil a top leader. So the same is happening here.
This company would not hide behind the scenes if they desired to be a so called LEGITIMATE company.
There seems to be many legal complaints surrounding confidentiality issues with this company. The owners are hiding and do investigation on the top leader Alexandru Saiu.
He evidently has a bad track record from one Ponzi to another.
Yasir Mirza the former OneLife promoter has switched to FirstCoin. Let’s set aside all the questions about how come he switches from the “future of payments” to some inferior solution and hear what he has to say:
It’s time to say Good Bye to the company I dedicated Two years of my life. I have worked hard on the vision of Dr Ruja, and I still believe it will be successful ter 2018 when it goes Public.
Wij created history te a brief period of time and created many rank holders spil well. Through this journey I have met many incredible individuals to whom I am appreciative of having met and worked.
Due to my private issues I have to part the ways and I say Big Thank to Dr Ruja for providing mij chance to work ter it and switch my life entirely. I still believe it’s a genuine company with Genius blockchain and it will be a profitable business ter a longer run.
I also thank all the leaders, co-workers and team mates, who worked hard for our team and they were with mij through hard times and I assure you all that you will not be left behind if I see something better and obviously if you still agree to work with mij.
Spil of today I am commencing my journey ter the brand fresh company with a Cryptocurrency already te public and those who wish to work with mij, feel free to voeling mij te private and you will be looked after.
All the best… Aker Bless you all.
The thickest kwestie Firstcoin will challenge soon is the source of their money, because they were founded by defrauding the Turkish people who invested ter Coinspace on turkish market.
Since they used several private and even business accounts, this will be exposed with criminal investigation going on ter Turkey.
Among people connected with Firstcoin are: Selcuk Ozkan, Ahmet Altun, Ali Dinler and bunch of other people previously working for the same company, among them Ante Kelava, Siegfried Boschieri (they were supposenly also involved ter the management of the previous company) and Alexandru Saiu, Cristina Cattaneo, Armando Perna and all others who were participating ter the already mentioned ponzi scheme which wasgoed operating ter Turkey named Coinspace.
Now they switched to this fresh Ponzi operating scheme and what is more interesting is that they are using the live blockchain, which seems legit on the very first impression, but when you check all the facts behind, you will see that they are truly using the blockchain to operate the Ponzi pyramid scheme. Their ROI of 7.5% or more monthly cannot sustain the long term business operation even if they think that due to the latest boom of the cryptoindustry will hold still for a long time.
The initial problem is that the money used to run the operation wasgoed taken from many virginal people ter Turkey and that basically they defruaded them ter very first place. The criminal investigation is already ter total scale ter Turkey and when this will be discovered the company and its leaders will face big issues.
Very first it is directly connected to Coinspace ter Turkey, maybe is even operated by the same management, but more significant and joy is that they are using the same network and the same people who were or are still active te Coinspace.
Thesis two companies are possibly connected somehow or shareholders te Dubai are the same, but nevertheless the fact that they embarked by using dirty money which they stole from people is big enough to zekering Firstcoin.
Hopefully people will embark watching that blockchain or infalted Coin price which is going up recently is not the only fact by which you can determine if the company is legit or not and hoepfully the investigation will be overheen soon and expose the real facts which will proove this text. More information soon…
Since I have many connections and people inwards both companies who know also people near the management te both companies especially Firstcoin I will manage to provide more information on the subject.
Dont get vensterluik and open your eyes today. Still the best possible solution is to buy BTC or ETH and hold them and dont be blindsided by the fact that a few so called leaders earn enourmous amount of money, because the chances that you will be the one are already far gone.
For above mentioned people wij gathered the facts and also movies and some other documentation and much more that they are operating ter the Firstcoin business.
It will be ionteresting to see where thesis people will go after Firstcoin will close its operation and also interesting to see what will toebijten with Coinsapce which wasgoed promoted by the same guys and/or Onecoin which gathered by far the most dirty money out there.
Again think twice before joining any of thesis people and check out for more informatie.