Texla Coin TLC is a scam coin that promises to help anyone get rich quick with no risk. Find out why it’s a scam today in our review.
What Is The Texla Coin?
Texla Coin, found online at TexlaCoin.com, is a digital currency that promises to allow investors “to invest and increase their wealth sustainably.”
Do you want to invest in something and get rich quick with no risk or hard work required? If so, then Texla Coin is the right choice for you. The Texla Coin team is advertising their currency as a no-risk investment that’s “similar to bitcoin”, except for the fact that it’s cheaper today. By buying Texla Coin today, you can get rich quick in the near future.
Obviously, there are hundreds of scam coins available online today. Texla Coin has all of the red flags we associate with scam coins – like a lending scheme with unrealistically high monthly returns. With that in mind, let’s take a look at how Texla Coin works.
How Does the Texla Coin Work?
Texla Coin doesn’t appear to have any products or services aside from a digital currency and a lending scheme.
Basically, with the lending scheme, you send money to the company, they’ll lock it up for a few months, and then you magically earn returns of 45% per month and higher. The more money you give the company, the more money you’ll earn.
Obviously, in January 2018, we saw the collapse of the world’s most notorious crypto Ponzi scheme, Bitconnect. That scam advertised returns of 45% per month and higher. Anyone with half a brain knew it was a Ponzi scheme – yet people continued buying until the scheme collapsed. Texla Coin appears to advertise a virtually identical lending scheme online.
Here are the “investment packages” offered by Texla Coin:
- $100 to $999: 45% ROI per month, capital unlocked after 210 days
- $1000 to $4999: 45% ROI per month + 0.1% ROI per day, capital unlocked after 180 days
- $5000 to $9999: 45% ROI per month + 0.2% ROI per day, capital unlocked after 150 days
- $10,000 to $49,999: 45% ROI per month + 0.3% ROI per day, capital unlocked after 120 days
- $50,000 to $99,999: 45% ROI per month + 0.4% ROI per day, capital unlocked after 90 days
- $100,000 and Up: 45% ROI per month + 0.5% ROI per day, capital unlocked after 60 days
Texla Coin also has a pyramid scheme-style multilevel referral system, where you can earn 10 levels of referral commissions for convincing others to join the Texla Coin scheme.
Who’s Behind the Texla Coin?
Like most major online scams, Texla Coin refuses to disclose the identity of anyone involved with the project. They don’t even bother to use pseudonyms. No contact information or location data is listed on the TexlaCoin.com website.
When someone is asking you to send money online for an investment opportunity, but refuses to disclose any shred of personal information, it’s a sign you’re probably being scammed.
Texla Coin TLC Conclusion
Texla Coin is one of the most obvious scams we’ve encountered in the cryptocurrency industry. The company has no products or services in place. It doesn’t aim to solve any problems. Instead, the company just has a digital token and a “lending system”.
At this point, any time you see the word “lending system”, your brain should immediately replace it with the words “Ponzi scheme”. There’s no evidence that Texla Coin is lending money to anyone: as far as we can tell, they’re just using the deposits of new members to pay for the returns of older investors. That’s not a legitimate business. That’s a Ponzi scheme.
Unless Texla Coin reveals significantly more information about itself online, we’re led to assume it’s a complete scam.