Holiday Coin Club: Crypto MLM Scheme Based On Travel Incentives?
A recent post shared by Behind MLM, assessed another firm that might potentially be running an MLM Scheme. Their target was a project called, the Holiday Coin Club and by the looks of it, Behind MLM is convinced that their lack of transparency and information is enough to conclude that a possible cash grab is in the making.
Upon visiting Holiday Coin Club’s official website, one will notice that not everyone has access to the program. To be part of the scheme, users can only get in by invitation, adding that users should “ask [their] invitee for their link to get started!”
While a ‘Company Information’ link is provided at the very bottom of the homepage, nothing interesting or useful has been provided, besides an e-mail and a possible address, leading to Marshall Islands. The fact that the firm might be based off of the Marshall Islands had Behind MLM questioning their initial goal helping consumers gain travel benefits. As for who is responsible for the main operations of the firm, nothing has been revealed.
For the time being, Holiday Coin Club does not support any products or services, as the only facet of the firm is its affiliate membership. One thing that has been clearly proven, is that the club encourages affiliates to “buy positions in a seven-tier matrix cycler.”
The seven tiers are each colored with different buy-in values. The lowest buy-in rate is approximately €125, which is considered the yellow tier position. One can either receive €250 travel voucher or create a new orange tier position, which is equivalent to the travel voucher price. For those who which to buy-into yellow position again, then it would cost half its original price.
As affiliates enter each color position, the position cost doubles. For instance, to buy into orange, it costs €250, red costs €500, pink costs €1,000, all the way up until green, which costs €8,000. There also seems to be a maintenance fee of €1 per month for the yellow position, however, information on such fees for the other positions have not be disclosed.
In order to get a free yellow position, an affiliate needs to introduce this scheme to five other users. To move up in title, affiliates can then pay an additional €99 to become an Ambassador.
While getting into the Club only requires an invite, actual participation in the seven-tier matrix requires the purchase of one of three packages: Weekend Pack (€137), Sunshine Pack (€947) and Luxury Lifestyle Pack (€16,174) – each varying in the number of positions and associated fees needed to be paid.
With all this being said, Behind MLM still seems to be cautious of the project as an MLM-based travel benefits plan does not seem to set in well with them. Furthermore, the lack of information and cash commissions might make one question their real purpose. Although discounted travel is a desirable facet, details as to the options available is not mentioned, which can hinder one’s personal preference as well.