Titus Community is a closed, invitation-only community built with the goal of making “Titus Coin” a globally-used currency. Find out how it works today in our review.
What Is Titus Community?
Titus Community, found online at Titus.community, describes itself as a “closed, invitation only, community with the mission to create a global usage forum for the blockchain currency Titus Coin.”
Why would somebody try to launch a “global currency” through a closed, invitation-only community? I’m not sure. However, after a few seconds of reading the Titus Community website, you’ll realize that the company is less focused on cryptocurrencies and more focused on selling memberships through a multilevel marketing-style commission structure.
You pay a fee to join the company. Then, as far as we can tell, the only way to make money is to convince other people to pay for memberships through your referral address. There are no products or services, and the Titus Coin does not appear to have any actual, real-world use.
With that in mind, let’s take a closer look at how Titus Community plans to give you “financial freedom”.
How Does Titus Community Work?
Titus Community describes their digital token as “the currency of the future.” The currency is used by Titus Community Ltd., a private organization. We can’t find any information about the blockchain they use, the total supply of tokens they have, or other information you would like to know before buying a digital asset.
In fact, we can’t find any evidence that the Titus Coin is a genuine blockchain-based cryptocurrency. It’s not available for trade on any cryptocurrency exchanges. Its technology isn’t open source or posted anywhere online. And there’s no transparency regarding how the tokens are issued.
Ultimately, the main goal of Titus Community seems to be to push you into buying a membership. The company charges you a fee to join. You get a certain number of Titus Coins in exchange for your membership fee. Then, you try to recruit new people into the platform.
Titus Community claims that their platform will include consumers and merchants. Consumers will receive a cashback reward in exchange for spending their Titus Coins at affiliated merchants. This creates some type of circulating economy.
In reality, we can’t find any products or services available for purchase with Titus Coins. However, since the company is still in the early stages of launch, these features may be coming in the future.
The Titus Community ICO
Titus Community has scheduled an ICO for mid-October 2017. The ICO is scheduled to last 5 weeks.
The company claims that the tokens will be worth 5 EUR each at the end of the ICO, although they’re available at a cheaper price during the ICO. It’s unclear why the company feels they’ll be worth 5 EUR, or where this valuation comes from.
Titus Community is also vague about where the funds from the ICO will go. The only information we can find online states the following:
“The funds received from the ICO will partly go to the financial union VIP Coin Sparkassa, and to strengthen the finances of Titus Community. Titus Community will use this capital to speed up the expansion, to invest in new product development, to strengthen the marketing efforts, etc.”
This might be the most generic ICO statement I’ve ever seen. It says a lot of words about nothing in particular.
Who’s Behind Titus Community?
Titus Community is led by CEO Maxim Moneta, a Ukrainian IT professional who has lived in Stockholm for 5 years, participating in various IT startups.
Other key members of the team include Pierre Gärd, Chief Marketing Officer, a Swedish network marketing professional, as well as Kristian Sandberg, Network Director, a Swedish direct selling professional and international executive.
The company appears to consist of several different business entities registered around the world.
There’s Titus Community Ltd. (company number 81830), which is “the operating company in the Titus sphere”. This appears to be the Stockholm-based head office of the company.
There’s also Titus Invest Ltd (company number 81823), which is a Malta-registered holding company that holds the intellectual property and 100% of the shares in Titus Community Ltd. Complicating things further is that Titus Invest Ltd. is owned 90% by Maddox Business Services Ltd., which is a London-based organization, and 10% by VIP Coin Sparkassa Financial Union, a Swedish financial union.
A Sydney, Australia company called Fennas Finance, Ltd. is also connected to the project. It’s described as “an external service engaged by Titus Community and Titus Invest to deliver software for direct sales activities, payment services, compliance services and some operational functions.”
Conclusion: Is Titus Community A Scam?
The bitcoin world is filled with MLM scams and pyramid schemes. As far as we can tell, Titus Community is a legitimate multilevel marketing company based in Sweden, but registered in various locations throughout the world. The company is issuing Titus Coins as part of an ICO in mid-October. You pay to join the company, receive Titus Coins, then convince other people to join.
Ultimately, Titus Community may grow into a legitimate MLM company with products and services available for purchase with Titus Tokens. The company has a publicly-available management team and consists of experienced network marketers. It’s not the usual “pump and dump” bitcoin pyramid scheme we’ve seen elsewhere online.
Nevertheless, you may want to wait for more information about Titus Community to appear online before you buy a membership.