Master Coin Plus is a bitcoin investment scheme that promises to give you free bitcoins in exchange for recruiting other members. Here’s our Master Coin Plus review.
What Is Master Coin Plus?
Master Coin Plus, found online at MasterCoinPlus.com, appears to be yet another multilevel marketing-style bitcoin investment scheme. All you need to do is give hundreds of dollars to Master Coin Plus, and you’ll instantly start earning money for free.
In fact, Master Coin Plus guarantees you’ll make money in as little as 120 days.
Master Coin Plus does not sell any products or services. The only apparent goal of the company is to recruit new members. You earn money by recruiting new members to the scheme, and eventually, the fund collapses.
The company seems very similar to other MLM scams we’ve spotted online in recent months. As bitcoin and cryptocurrencies surge, scams surrounding the industry are also growing. These scams try to lure in newbie investors with promises of free money. In reality, most of them take your money and disappear.
Is Master Coin Plus yet another MLM bitcoin scam? Or is this a legitimate investment opportunity? Let’s take a look at how Master Coin Plus promises to make you rich.
How Does Master Coin Plus Work?
Like a pyramid scheme, you need to pay to join Master Coin Plus. Your joining fee ranges from 0.0625 to 32 bitcoins ($170 USD to $87,700, based on the value of bitcoin from July 2017).
After you join the scheme, you gain access to a “simple, proven, profitable” plan to “increase your bitcoin in 120 days or less.”
The secret behind Master Coin Plus’s success is that they trade bitcoin and 700+ altcoins. They trade these coins on 45 different exchanges and claim to make profits by buying low on one exchange and selling high on other exchanges.
The company also vaguely mentions that they operate bitcoin mining operations and bitcoin ATMs to increase their profits.
Overall, Master Coin Plus’s main moneymaking scheme is to buy and sell the same coin many times a day. The company claims to earn profit “90+% of the time” using this strategy.
Obviously, arbitrage is not a unique concept. It may have been possible in the early days of bitcoin to take advantage of different prices on different exchanges. Today, however, the bitcoin market is so active that price differences are minimal.
Regardless, Master Coin Plus claims to pay members daily. There are no monthly fees aside from the joining fee.
Master Coin Plus Pricing
Master Coin Plus offers a number of different pricing plans to suit your budget, including:
- Guaranteed ROI within 120 days
- 7% binary earnings
- 0.15 BTC daily max
- 3 BTC monthly max
- Guaranteed ROI within 120 days
- 8% binary earnings
- 0.25 BTC daily max
- 7 BTC monthly max
There are 10 different plans in total, and all of them work in a similar way. You pay a steep joining fee. The more money you pay, the more money you will make. Master Coin Plus appears to have plans that cost up to 32 BTC (over $80,000 USD to join), although the most expensive plan currently posted on the website is the 8 BTC plan (over $20,000 USD to join).
Who’s Behind Master Coin Plus?
Based on all of the information we can find online, Master Coin Plus appears to be a pyramid scheme or Ponzi scheme. The website has given us no information to suggest otherwise. So who’s behind this scheme?
The company claims to be led by CEO Tom Armour. Aside from Tom’s name (which may or may not be real), the company refuses to disclose any information about the CEO, his experience, or why he’s qualified to run a bitcoin trading fund. We do have one small photo of Tom. That’s it.
The official website also features one image of a flashy office building in Orlando. Here’s the address where they claim to be headquartered:
5323 Millenia Lakes Blvd Suite 300
Orlando, FL 32839
That office building genuinely exists. It’s a shared office building located just across the street from Universal Studios Orlando. A company called “Clean Energy Advisors” lists the exact same suite and address on their official website. It’s unclear how Clean Energy Advisors is connected to Master Coin Plus – if at all.
Master Coin Plus also claims to be running a conference in Orlando between October 6 and 8, 2017.
Master Coin Plus Conclusion
Master Coin Plus has given us absolutely no evidence that it’s a legitimate service. The company refuses to disclose any information about itself or its management team, or why you should trust that team to manage thousands of dollars of your money. Despite this total lack of transparency, Master Coin Plus guarantees that it will make you money within 120 days.
How does Master Coin Plus make money? The company vaguely mentions mining operations, arbitrage, and bitcoin ATMs. In reality, however, the company does not advertise any products or services: the only “product” being sold is the membership.
When a company only sells memberships and doesn’t sell any products or services, we call that a pyramid scheme. Unless Master Coin Plus posts more information about itself online, we have no reason to believe it’s a legitimate investment opportunity. Based on everything we see on MasterCoinPlus.com, the bitcoin “investment fund” appears to be a scam.