Cointherum is a multilevel marketing company that promises to double your bitcoin every 90 days. Is it a scam or a legitimate business opportunity? Find out today in our Cointherum review.
What is Cointherum?
Cointherum is a pyramid scheme that appeared online in June 2017. The scheme claims to double your bitcoin in 90 days – guaranteed.
We’ve seen dozens of similar companies appear online in recent weeks. As the cryptocurrency industry is surging, more and more people are looking for moneymaking opportunities. Companies like Cointherum attract newbies and promise them big earnings opportunities.
Obviously, when someone claims they can double your money in 90 days, guaranteed, you know you’re being scammed. With that in mind, let’s take a look at how Cointherum promises to make you rich.
How Does Cointherum Work?
Cointherum has some weird business plan where they want to buy a bunch of bitcoin, Ethereum, and litecoin, then “use their growth to trade and be able to obtain high profits in a continuous and safe way.”
That’s the word-for-word “business plan” on the official Cointherum website. Because, you know, making money in the cryptocurrency world is as easy as buying tokens and then waiting for the money to start pouring in. It’s not exactly a genius business plan – and it’s certainly not guaranteed to double your money in 90 days.
Cointherum has another element to its business: the company plans to launch its own cryptocurrency called “Alphacoin”. They claim the coin will use a decentralized system (like blockchain) and will grow 1000% in value in 2017.
Does that sound fishy to you? Don’t worry! Cointherum “studies the market to work in a safe environment”, explains the official website. Whatever that means.
In reality, like most pyramid schemes, Cointherum isn’t selling any type of product, investment, or service. It’s selling memberships. You pay a membership fee today, and your fee gets sent up through the levels up the pyramid. Then, the only way to make your membership back is to recruit new people to the scam underneath you. This is why pyramid schemes are illegal: they’re unsustainable businesses.
Cointherum Plans and Pricing
Cointherum offers 12 different plans ranging in price from 0.05 BTC all the way up to 50 BTC. You’ll need to spend at least 0.1 BTC in order to qualify for the “double your money in 90 days” guarantee.
As you give more money to the company, your binary earnings increase. It starts at 5% for the 0.05 BTC plan and goes up to 23% on the 50 BTC plan. Other than that, the plans are identical.
There’s a huge catch to these plans. The company doesn’t tell you about this catch upfront, but it’s hidden in the terms and conditions. You will be recharged every 90 days. Once your money has doubled after the 90 day period, you’ll be charged that same fee again. So if you doubled your money from 0.5 BTC to 1 BTC, you’ll be charged 0.5 BTC on your 90th day, bringing you back down to 0.5 BTC total. Yes, Cointherum assumes you’re that stupid.
The company claims that you can withdraw your money every Monday, Wednesday, and Friday. The minimum withdrawal is 0.1 BTC.
Who’s Behind Cointherum?
Like most shady companies, Cointherum gives us little information about itself, its executive team, or its history.
The only “clue” we have about the location of Cointherum is a picture of an office building. A reverse image search for that office building shows that it’s called 3Twenty-One Building. It’s an office building in Richmond, Virginia. And here’s the important part: it doesn’t exist. It’s estimated to be completed in 2017, and construction started this past spring. The same image used on the Cointherum website can be seen in this news article about the office building here.
That hasn’t stopped Cointherum from posting images of high-tech office buildings and sprawling company space on their website. The company has even posted “Cointherum” watermarks on these images to make it seem like they own the entire office building.
Aside from the fake office, we have no information about the location of Cointherum or who runs the company. The domain, however, is pretty much brand new: it was registered anonymously on May 27, 2017.
When someone promises to double your money in just 90 days, you can be 100% sure that you’re being scammed or misled. Cointherum is a shady website filled with spelling errors, fake office buildings, and a stupid business plan (their business plan is to buy a bunch of bitcoin, Ethereum, and litecoin and wait for it to double in value). The company guarantees to double your money – all you need to do is send hundreds of dollars in bitcoin to a mysterious wallet, then continue sending bitcoin to that wallet every 90 days.
At best, Cointherum is a pyramid scheme where you can only make money by referring new people to the scheme. At worst, the company funnels your money to an anonymous bitcoin wallet and you never hear from them again. Whatever the situation may be, you should stay far away from the Cointherum scam.