Xtreme Coin is a bitcoin scam that appears to work like a pyramid scheme. Find out if Xtreme Coin is worth your investment today in our review.
What Is Xtreme Coin?
Xtreme Coin appears to function like a pyramid scheme or multilevel marketing scheme: the company doesn’t sell any type of product or service. Instead, they only sell memberships.
You pay a fee to sign up for Xtreme Coin. That fee gets funneled to people of a higher rank. Then, the only way to recoup your investment is to recruit people underneath you. You get a portion of each person’s joining fee, and the rest of the fee gets funneled to the top of the pyramid.
In any case, Xtreme Coin calls itself “the greatest bitcoin opportunity ever”. Let’s take a closer look at how this Ponzi scheme works.
How Does Xtreme Coin Work?
A quick Google search for Xtreme Coin will reveal scam artists telling you how they made enormous amounts of money with Xtreme Coin. In reality, these people have already lost money to the platform – and they’re trying to recoup their costs by convincing other people to join.
There’s no evidence that Xtreme Coin will ever return your money once it’s deposited into the system. We have no evidence of anyone making a profit through Xtreme Coin – no matter what fake testimonials online may tell you.
The Xtreme Coin website has very little information about how this pyramid scheme works, and how it generates money. The website uses phrases like, “We’ve assembled the most talented, committed team of networkers, programmers, developers and leaders to make Xtreme Coin a special place to work and build your bitcoin business.”
However, there’s no actual information about any products or services.
Here’s the official guideline to making money with Xtreme Coin:
- Step 1) Choose your package and sign up, paying your membership fee
- Step 2) Convince other people to join the scam using your referral URL
- Step 3) Continue giving more money to Xtreme Coin to unlock more recruitment positions
Xtreme Coin claims you can “control your commissions”. In reality, that just means you can pay more money to the company to unlock more commissions earning opportunities.
Who’s Behind Xtreme Coin?
Xtreme Coin’s website makes numerous mentions about how the company takes pride in being transparent and honest.
Unfortunately, they don’t back up those words with any transparency or honesty. The website refuses to disclose any information about the leaders of the company or the management team. There’s no info about where the company is based, or how your money is being used.
Our friends at BehindMLM.com did some more digging and found that the Xtreme Coin website was registered on May 30, 2017. They also found that the main owner of Xtreme Coin has been linked to scams and pyramid schemes in the past – including one matrix cycler Ponzi scheme from 2014 called Ingreso Cybernetico. That scam nosedived and collapsed earlier this year.
Ingreso Cybernetico was led by CEO Dwayne Golden. However, it’s unclear if Golden is the “main owner” referenced above, or if he’s not linked to Xtreme Coin.
In any case, when a multilevel marketing scam refuses to tell you any information about the founding team, management team, owners, location, or other info, then that’s an enormous red flag.
Xtreme Coin Pricing
Xtreme Coin has 7 different membership plans available. The more money you give the company today, the more positions you can fill. Plans range from Sapphire (0.05 BTC, or about $200 USD) to Xtreme Diamond (10 BTC, or about $43,000 USD).
As mentioned above, there’s no evidence that you can withdraw your money from the scheme after you’ve deposited it. The founders of Xtreme Coin appear to have disappeared with members’ deposits in the past – and Xtreme Coin will continue operating until the same thing occurs.
Xtreme Coin Conclusion
Xtreme Coin appears to be a cryptocurrency scam similar to dozens of other bitcoin scams on the internet today. The company will take your money, hype the opportunity across the internet, then continue until the scheme collapses – at which point the founder a high level execs will disappear with the money and start a new scheme. Apparently, the founders of Xtreme Coin have already done that with an older Ponzi scheme called Ingreso Cybernetico.
Ultimately, there are countless red flags surrounding Xtreme Coin. There’s no evidence the company is any type of investment opportunity, and all signs point towards it being a complete scam.