Coinicor: What Kind of Cryptocurrency Deal and Options Are Here?
When it comes to investing, you want to be sure that you pick a company that has a reputation for being honest. But, you also want to pick an investment platform that actually gives you a return on your investment.
But in a world of multiple online investment platforms, which one should you invest your hard earn money? Is there one that stands out above the others? Or are they all too risky to get involved with?
If you happened to come across the site Coinicor there are a few things you should know about the company before you invest. Like many online platforms, Coinicor offers investors a return on their investment, but can they be trusted?
According to their site, Coinicor offers an all-in-one investment platform that allows Forex trading, lending, crypto mining, crypto exchanges, as well as startup investing. When looking into the company, you will notice that they are based out of and registered in the United Kingdom.
However, the registration is recently new, but Coinicor is not registered with the Financial Conduct Authority within the UK. This basically means that they are not legally allowed to offer or provide investment services like the ones they have listed on their site.
When it comes to owns and operates the company, there isn't much information. You will find a list of 131 people that are stated as “representatives.” This list offers names, countries, and even email addresses and Skype information.
However, none of the people listed have any titles that inform you of their status with the company. You will notice that many of the representatives are from other countries outside the United States and United Kingdom.
Coinicor doesn't offer any real services or tangible products. It is a platform that infuses Forex trading, peer-to-peer lending, exchange, as well as Bitcoin mining and connects startups with blockchain technology.
However, there is no information on how much these services costs. Or if there are any fees associated with withdrawing funds from your account. Or fees for trading.
When it comes to making money with Coinicor, there is two routes you can go. The first is their investment plan. The plan allows people to earn 1.5% – 2.4% daily returns on their investments for life. This is roughly about 45% per month based on the site. How this exactly works in unclear.
The second way to earn is through their affiliate program. The site states that you can earn 15% referral commissions. It also allows you to become a “representative” with a matrix that is four levels deep.
Depending on the level your recruits sign up under determines how much you will earn. Affiliates who sign up directly under you will allow you to earn 15%, where the second level is 3%, third and fourth level is 1%.
There are so many things wrong with this system. First, there is absolutely no information about who runs or owns this company. Putting your money into an investment system through Coinicor is a big mistake as you don't know where it will go once it has been deposited. The owners could pull all funds at any time and make off with it.
The fact that this company is offering an investing platform that is registered in the U.K. without being registered with the financial trade makes it illegal. That being said, those who add funds are just begging to have their money taken.
Coinicor wants you to believe that they are a company of the future by being an all-in-one place to do business. The truth is though, they can't keep up with the daily ROI. The 45% ROI per month per customer is ridiculous to maintain. The system is based on people recruiting others who invest in order to keep the system functioning properly. Once the recruitment dries up, so will the site.
The best thing for you to do is steer clear of Coinicor and other sites like it. Make sure you do your homework before throwing money away or investing with a business that isn't completely honest with who they are.