DT Coin, or Diamond Temple Coin, is a digital currency offered as part of a multilevel marketing-style company. Find out if DT Coin is a scam or a legitimate opportunity today in our review.
What is DT Coin?
DT Coin, found online at DTCoin.co.uk, advertises itself as the next bitcoin. By buying DT Coin today, you can get rich quick.
As proof, the DT Coin website even features an inspirational quote by Nelson Mandela at the top of its page: “A winner is a dreamer who never gives up.”
One of the unique things about DT Coin (aside from the fact that it appears to be a Ponzi scheme or scam) is the fact that it claims to back its coins using diamonds. To our knowledge, no other cryptocurrency has backed its value with diamonds.
The DT Coin currency was made by a company called Diamond Temple. That company describes itself as “a group of independent professionals, with a total of 120 years of managerial, financial and commercial experience.” There is no information about the management team, their specific experience, or even where the company is located. The website does, however, feature a lot of stock photos of businesspeople doing business-like things. The company claims to be based in Dubai.
Is DT Coin really “a revolution with no harm” as claimed by the website? Let’s take a closer look at how DT Coin claims to work.
How Does DT Coin Work?
DT Coin claims to generate its digital currency using “a proprietary algorithm developed on central servers located in Dubai.”
When you pay to join the company, you’re buying a portion of the network. Your purchase entitles you to an appropriate portion of DT Coin generated by the server.
Diamond Temple claims their currency is inflation-proof because the algorithm is designed to issue a total supply of 10 billion DT Coins.
The unique thing about DT Coins is that their value is purportedly backed by diamonds. The company claims to use diamonds similar to the way the US Federal Reserve once used gold to back the US dollar. As the total supply of DT Coins increases, the company will increase its diamond reserves.
As a result of those diamond reserves, DT Coin claims that each token has a 1:1 ratio of 0.05 EUR per DT Coin. In other words, 1 EUR will buy you 20 DT Coins.
In the future, the creator of DT Coin claims that their currency will be available for use at stores and shops. You’ll also be able to withdraw DT Coins in exchange for Euros. At the moment, however, DT Coin is not listed on any exchanges and does not appear to have any purpose outside of being used in the DT Coin pyramid scheme.
Who Created DT Coin?
DT Coin was created by a company that calls itself Diamond Temple or BTC Diamond Club. The company describes itself as “a group of independent professionals” who have “financial and commercial experience” (whatever that means).
Aside from that horribly vague information, there’s no information about the creators of DT Coin available online. The company refuses to disclose any information about itself or the company.
However, we do know one name associated with the domain. The DTCoin.co.uk domain was registered privately in January 2017. However, that company also owns DTCoin.eu (which forwards automatically to the .co.uk domain). The .eu domain, however, is not registered privately: it was registered in November 2016 by a man named Daniele Marinelli, also known online as networkerpro di. He appears to be based in Rome, Italy, where he’s the CEO of a marketing company.
Overall, there’s virtually no public information available online about DT Coin or its creators – which is obviously a major red flag.
DT Coin Products and Services
Like most Ponzi schemes and pyramid schemes, DT Coin doesn’t sell any products or services. The only product or service being offered by the company, as far as we can tell, is an affiliate membership.
After you’ve paid to join the pyramid scheme, you can recruit other members to join beneath you. You get a portion of each new member’s joining fee, while the remainder of the fee gets funneled to the top of the pyramid.
As a member of DT Coin, you can purchase the DT Coin cryptocurrency. However, as far as we can tell, this cryptocurrency is totally useless and pointless. It cannot be spent anywhere nor withdrawn.
DT Coin Multilevel Marketing Structure
DT Coin publishes virtually no information about itself online. However, the company does publish detailed information about its affiliate ranks. There are a total of twelve ranks in the company, ranging from “Start”, where you generate at least 1250 EUR each month in downline investment volume, all the way up to “Double Black Diamond”, where you generate 62.5 million EUR in downline investment volume.
DT Coin affiliates receive 15% commissions on new recruits. Other features of the DT Coin scheme include residual commissions via a unilevel compensation structure as well as fast start bonuses, matching bonuses, and rank achievement bonuses.
DT Coin Pricing
Like most pyramid schemes, you’ll need to pay to join DT Coin. The more money you give the company, the more you can earn. Here’s how membership ranks break down:
- Try: €20 EUR
- Verify: €100 EUR
- Bronze: €300 EUR
- Silver: €1000 EUR
- Gold: €2000 EUR
- Platinum: €5000 EUR
- Extra Platinum: €10,000 EUR
- Exclusive: €25,000 EUR
- Infinity: €100,000 EUR
Conclusion: Is DT Coin a Scam?
DT Coin has given us absolutely no information to show that it’s a legitimate investment opportunity. Based on everything we can find online today, DT Coin appears to be a blatant scam. The company claims to back its digital tokens on the value of diamonds, but there’s no information, proof, or auditing regarding the location of those diamonds or their value. For all we can tell, Diamond Temple will take your money and disappear.
There’s also the fact that DT Coin itself serves no purpose. You cannot spend DT Coins anywhere, nor can you trade it on any exchange. The coin is just a useless digital token to signify your rank within the company.
Another red flag with DT Coin is that the founders refuse to disclose any information about themselves. There’s no information about the management team, nor do we know where the company is located. The entire website is worded in broken English, and the company vaguely mentions servers in Dubai as the only evidence that they really exist.
Ultimately, based on all of this information, we’re forced to conclude that DT Coin, or Diamond Temple Coin, is some sort of Ponzi scheme, pyramid scheme, or scam.