FirstCoin Review – Legit Or Scam?

Have you been paying attention to all of the hype for FirstCoin?

If you told me someone had pitched the opportunity to you lately, this wouldn’t surprise me. It’s making all the rounds on social media lately.

Next, I want to tell you that I am neither an affiliate or distributor for FirstCoin – I want to give you an unbiased opinion.

Is it a scam? Can you trust FirstCoin?

Read all about it in my FirstCoin review so you can learn the full truth!

Does it deliver on the promises in the marketing materials?

Let me explain in my review of FirstCoin.

Let’s carry on.

What Can You Tell Me About FirstCoin?

Looking at just the website for FirstCoin Club, it’s hard to tell much at all in regards to what this company is bringing to the table or who’s behind it.

Background information is extremely important when dealing with a new potential business opportunity, but it would appear that FirstCoin Club never did get that memo.

Try as I did, I was unable to find any info on the company’s website in regards to who owns the operation, where everything is being run out of, when FirstCoin Club was launched, etc.

I did manage to track down the domain name registration for FirstCoin Club, but aside from showing that the registration took place on July 15, 2016, there’s nothing else to see thanks to the fact that the domain was registered privately.

Throughout the FirstCoin Club site, I did notice that there are a couple mentions of “Dynamic Global Marketing Ltd.” There’s no clear indication as to what the relationship between this and FirstCoin Club is, and for that matter, no info on just what Dynamic Global Marketing Ltd is or who’s behind it either.

Also on the FirstCoin Club website is a corporate address. This address is located over in Dubai, and while it looks fine on the surface, further research reveals that this address actually belongs to a company by the name of Freemont Group.

Freemont Group is a business that sells services for business formation over in Dubai, and as such, it’s very likely that FirstCoin Club only exists in Dubai for the sake of the name and nothing more.

Does FirstCoin Offer Any Products?

In regards to the product line that FirstCoin Club has to offer, there’s unfortunately nothing to really see here at all.

FirstCoin Club follows in the footsteps of other MLM underbelly scams in the sense that it isn’t marketing or selling anything at all to retail customers.

Retail sales is one of the most important components of any multi-level marketing setup, and whenever they are absent within a company, such as FirstCoin Club, that’s usually a telling sign that there’s something fishy afoot.

What Kind Of Compensation Plan Does FirstCoin Have?

Moving things over to the compensation plan, affiliates for FirstCoin Club earn money by investing it for the chance to secure a monthly ROI. In addition to this, more money can be earned by recruiting other people to join and invest as well.

On the ROI side of things, affiliates invest their money into firstcoin — the virtual cryptocurrency that FirstCoin Club has created. Investing into firstcoin is how the monthly ROI is earned, and the four levels of investment that affiliates have access to here include the following —

• Basic — Members invest between $200 and $1999 into firstcoin and then earn a monthly ROI of 3%
• Silver — Members invest between $2000 and $9999 into firstcoin and then earn a monthly ROI of 5%
• Gold — Members invest between $10,000 and $24,999 into firstcoin and then earn a monthly ROI of 7.5%
• VIP — Members invest $25,000 or more into firstcoin and then earn a monthly ROI of 7.5% in addition to a one-time bonus of 10% that’s also applied for the amount of money that’s deposited into the company.

As for the referral commissions, the rate here is set at a standard fare of 10% based off of funds invested into FirstCoin Club by members that you’ve recruited into the opportunity.

However, recruiting more and more people will allow you to boost the amount of cash you can earn here as well.

Once you recruit a minimum of five other people into FirstCoin Club, you’ll be able to earn a referral commission of 20% for all recruits that invest beyond those initial five.

Along with this, a rate of 7.5% is also paid on any investment activity for member within level 2 of your downline.

What Is The Cost Of Membership With FirstCoin?

If you’d like to join firstCoin Club, you’ll need to invest a bit of cash into firstcoin.

The four investment levels above are what you need to choose from in order to join, and this means that you’ll need to invest a minimum of $200 or up to $25,000+.

In this case, choosing to invest more and more cash will allow you to maximize your earnings through the compensation plan that’s being run.

Should I Be Worried About A FirstCoin Scam?

Every business opportunity on the web has good reviews and bad reviews – so is FirstCoin really a scam?

Is there a FirstCoin scam or is this business legit?

If I am being honest, I’d say it’s not really a scam, but there are some important points to be aware of.

Learning the business weaknesses and having a strong marketing strategy is what will make you successful.

Conclusion for FirstCoin

Being able to invest in a brand new form of cryptocurrency is something that’s incredibly enticing for a lot of people out there — especially when you consider just how popular something along the lines of bitcoin is.

While FirstCoin Club may look like an awesome way to get in on the ground floor of a new form of cryptocurrency that’s going to be the next big thing, there’s unfortunately nothing more here than your typical Ponzi scheme.

The first big red flag to note here is the fact that affiliate are required to purchase firstcoin before they can actually invest money into FirstCoin Club. These coins are tradable on the public market, and as such, they have no value outside of the FirstCoin Club system.

Secondly, 109.9 million of the 110 million firstcoins that are currently in existence are pre-mined and owned by FirstCoin Club’s admin(s). It costs FirstCoin Club little to nothing to mine these coins, and affiliates then hand the company cash in order to purchase them. After an affiliate has their hands on firstcoins, they can then earn a passive ROI.

Here’s another problem.

Affiliate investment is the only identifiable source of income that’s making its way into FirstCoin Club. As such, funds invested by affiliates are turned around to pay off other members who’re expecting an ROI.

In other words, FirstCoin Club is operating as a Ponzi scheme.

As with any other Ponzi scheme, FirstCoin Club will only be around as long as affiliates continue to invest into it. Once this activity eventually dies down, the company will run out of funds and be on its way out the door.

The anonymous admin(s) will gather up the lion’s share of all the money that’s been invested, make off with it, and leave most everyone else to lose out.

I hope you are finding the information in my FirstCoin Review helpful?

Some of the other reviews I saw had very little details, so I am hoping I gave you everything you need here.

If you’re wanting to become a member of FirstCoin, make sure you take the time to develop a marketing strategy.

And, my FREE training below will help you do that and make money!