251 Coins is a new multi level marketing (MLM) company that runs an affiliate business with cryptocurrencies. If you have come to our article curious about whether you should trust this company or not, you have come to the right blog. Read our article to discover everything about 251 Coins.
What Is 251 Coins?
251 Coins is a company whose site was registered on May 16, 2018 and that runs an MLM marketing operation which has a very simple idea: you enter the network and then you are able to participate in the service of gifting cryptocurrency between the users and getting money almost “for free”. The company offers no retailable products or services.
We have not found any information about who owns this company.
How Does 251 Coins Bitcoin Cryptocurrency Referral Earnings Work?
After you sign up paying a small quantity of money (0.0001 BTC or 0.001 ETH or DASH), you will be able to participate in the network. Then, you will have access to a gifting system. You gift other users with tokens and this enables you to receive gifts from them.
This system uses a 3×5 matrix. You buy your position into a level of the chain. For instance, you can gift 0.0001 BTC and receive the same amount from three affiliates or donate a bigger quantity like 0.1 BTC and receive 0.1 BTC from 243 users (thus receiving 2.43 BTC).
You can participate in matrices of Bitcoin, Ethereum or Dash.
Is 251 Coins A Scam?
Yes, 251 Coins is a Ponzi scheme scam. The company operates a simple gifting scheme because you gift the existing affiliates with your money to receive money from the ones who will enter in the future.
After some time, the number of people who have not yet gotten their money back will increase exponentially and the scam will fall. The owners of the company and the first affiliates will have a lot of money in their pockets and the ones who got later will only have losses.
251 Coins Verdict
You obviously should avoid this company. In fact, you should avoid MLM companies which are not offering “real” products at all costs. Unless there is a real product being sold, you are probably only being a part of a Ponzi scheme by participating in these companies.