Cryptoinbox is a multilevel marketing scheme based around cryptocurrencies and cloud mining. Find out how it works today in our Cryptoinbox review.
What Is Cryptoinbox?
Cryptoinbox is a network marketing company where you make money by referring other people to the platform. Found online at Cryptoinbox.com, the website promotes ATC Coin – another multilevel marketing company. It’s unclear if Cryptoinbox is run by the same team behind ATC Coin, or if it’s just a high level affiliate for ATC Coin expanding his or her promotional efforts.
Like other multilevel marketing companies, you buy a membership with Cryptoinbox (in the form of depositing ATC Coins). Then, you refer friends to the platform and receive rewards.
There doesn’t really appear to be any product or service with Cryptoinbox. The company revolves around new memberships. Typically, this makes it a pyramid scheme instead of a legitimate business opportunity. Cryptoinbox does have an online store – although right now, the only listed product is an iPhone. That’s it.
The company was founded in 2016. The goal of the company was to create an online platform for ATC Coin trading and mining.
Let’s take a closer look at whether or not Cryptoinbox is a scam or a legitimate investment opportunity.
How Does Cryptoinbox Work?
Cryptoinbox claims to be a mining company. They claim to have mining systems dedicated towards ATC Coin mining.
However, there’s limited information about the mining operations available online. We don’t know anything about which miners are being used, for example, nor do we know the location of the mining operation. We can find no evidence online that the mining operation exists at all.
Like most pyramid schemes, Cryptoinbox dedicates most of its website towards promoting and advertising new membership opportunities. The company describes its money making scheme like this:
- Step 1) Create your Cryptoinbox account and get verified (verification is done via email and SMS)
- Step 2) Deposit fiat currency into your account (Cryptoinbox requires a deposit of around $75 USD or higher)
- Step 3) Purchase ATC Coins using your available deposit
- Step 4) Refer friends to the platform and get rewarded based on the multilevel marketing commission structure
Cryptoinbox claims to have 5 million members in 80 countries around the world. Oddly, they also advertise the fact that they sell “410 total products”, although it’s unclear what any of those products are.
Like other MLM scams, Cryptoinbox has a referral bonus, growth referral bonus, level income bonus, and growth level bonus available. In any case, you never receive the full commission from people you recruit. Most of that commission gets funneled to the top of the pyramid.
Cryptoinbox advertises all of the following features:
- “Largest Profits”: “Price maintenance will give you fastest return on your deposit as well as higher profits” explains the official website.
- “Lowest Prices”: “We guarantee you the lowest prices amongst our legitimate competitors.”
- “Easy to Use”: “With a few click your order is ready. Once paid, you start bitcoin mining right away.”
- Referral Program: You can earn up to 10% of the commissions and hashing power from people you recruit.
Who’s Behind Cryptoinbox?
There are hundreds of bitcoin scams on the internet today. Most scams refuse to disclose any information about themselves online – like who founded the company or what their background is. As you might expect, Cryptoinbox follows a similar model. The website is filled with stock images of random business people doing business-y things.
The only information we do have about Cryptoinbox is an address for an office building in New Delhi, India. You can also contact the company by email at [email protected] Aside from this information, however, we have no idea who founded the company or who’s leading it.
Cryptoinbox is a cryptocurrency-based pyramid scheme that involves signing up, depositing money (a minimum of 5000 Rs, or $75 USD), and then convincing other people to join the scam. There’s no evidence that Cryptoinbox is linked to any type of mining operation. In fact, the company seems to have just been started by an ATC Coin miner, and is an elaborate MLM scheme to build someone’s downline.
In any case, Cryptoinbox appears to be yet another bitcoin scam. There’s no evidence you’ll make any money, and there’s no evidence you’ll ever see your money again after depositing it into the platform. You can learn more at Cryptoinbox.com.