Coins Matrix is a cryptocurrency program that pays 20 levels of referrals. Find out if this is a legit investment in this Coins Matrix review.
What Is Coins Matrix?
Coins Matrix, found online at CoinsMatrix.com, claims you can invest 0.005 BTC into their platform and turn it into 2097 Bitcoin with no hard work required. In other words, you can turn a $20 investment into $8.2 million.
The claims and guarantees of income are a big red flag on this program.
Coins Matrix revolves around the use of a digital token called CM Coins. CM Coins are not listed on any cryptocurrency exchange, nor do they appear on websites like CoinMarketCap. We can’t find any merchants that accept CM Coins in exchange for products or services. Nevertheless, the company expects you to give them real money in exchange for their digital tokens.
How Does Coins Matrix Work?
Essentially, Coins Matrix works like every other pyramid scheme we’ve seen in the bitcoin industry in recent months. You pay the company real money, they give you a useless digital token (CM Coin) in return, and you convince other people to join the platform.
Users earn referral commissions across 20 levels. The platform has a 2×2 forced matrix plan. Coins Matrix also promises to give bonus coin investments to the first 10,000 people who join the company.
Why would you “invest” in Coins Matrix? How can you expect to make money? The company vaguely mentions that it’s using “one of the most advanced bitcoin miners on the market today with great efficiency therefore lower power costs and low maintenance fees for us” (yes, that’s the exact wording posted on the official website).
Coins Matrix never goes into detail about that mining operation, how it works, or how much you can expect to get paid.
What Are CM Coins?
Coins Matrix has its own digital currency. The company calls it CM Coin. They claim it’s a blockchain-based currency. However, that blockchain is not available to the public, and there’s no evidence it really exists. For all we know, Coins Matrix has just created digital tokens on its centralized server with no fixed total supply or encryption.
Even more shady is that the company describes the CMC blockchain as “centralized or decentralized” – whatever that means.
In any case, Coins Matrix won’t pay mining profits in any real, usable currency. You’re exclusively paid in CM Coins. We can’t find any company that accepts CM Coins, or anywhere you can spend CM Coins outside of the original platform.
Who’s Behind Coins Matrix?
Obviously, Coins Matrix has all of the obvious signs of a scam. However, one of the fastest ways to spot a scam is when a company refuses to disclose any information about itself. As expected, the Coins Matrix “About Us” page features no information about the company, its location, its management team, or other info you’d like to see before investing money into a company.
The company vaguely describes itself as a team of “brilliant programmers and engineers” who “have mining centers all over the world.”
Ultimately, if we had to guess, Coins Matrix is a pyramid scheme run by a small team of scam artists with no real mining operations anywhere in the world.
Conclusion: Is Coins Matrix A Legit Program?
The company requires you to “invest” in the platform using real money or cryptocurrency like bitcoin. Then, it gives you a useless currency called “CM Coin” in return. That coin has no use. You cannot spend it on anything or transfer it to a usable currency. After Coins Matrix has taken your money, it will pay your mining profits in CM Coin. Ultimately, you’re left without your initial investment – and you’ll have a bunch of CM Coins you can’t spend anywhere.
To learn more about Coins Matrix, visit the website online today at CoinsMatrix.com.