There is no information on the OneCoin website showing who owns or runs the business.
The OneCoin website does have an “about” area, however no information about the business’s ownership structure is exposed.
OneCoin Review – Cryptocurrency Scam?
The business does state however that it is headquartered in Europe with around the world operations. We focus on core markets such as South East Asian countries, Europe, India and Africa.
Conspicuously absent is the US.
The OneCoin Conditions recommends that the company is based from Bulgaria: Onecoin follows strictly the guidelines of the Electronic Commerce Act of the state of Bulgaria.
We are not in business of selling your personal info to 3rd parties. Where allowed by the arrangements of relevant law, Onecoin might however share such information from time to time with the following 3rd parties:
Any government company or other appropriate governmental, police, or regulatory authority in state of Bulgaria or somewhere else in order to meet legal security and regulatory requirements.
See what Ethan Vanderbuilt has to say:
The OneCoin site domain (” onecoin.eu”) was signed up on June 23rd 2014, nevertheless the domain registration is set to personal. OneCoin’s website itself is hosted from Bulgaria.
As always, if a MLM company is not honestly upfront about who is running or owns it, believe long and difficult about joining and/or turning over any loan.
The Line of product
OneCoin has no retailable service or products.
OneCoin affiliate are just able to market affiliate subscription to the site itself.
The Payment Strategy
Recurring Recruitment Commissions.
OneLife Point Reward
Aurum Gold Coins
There are three primary element to the OneCoin MLM organisation opportunity.
The very first is a simple recruitment-driven pyramid scheme, backed with a recurring binary compensation structure.
Affiliates join and are then straight compensated on the recruitment of new affiliates, who should spend loan on packages to take part in the MLM opportunity.
The 2nd is the entire Aurum Gold Coins schtick, which seems an alternative virtual currency to the OneTokens, and are backed by baloney.
The 3rd and most deceptive part is the token share plan.
OneCoin is a new cryptocurrency that can be traded on the OneExchange.
Information of the token exchange are deflected the OneCoin site, with even the settlement strategy just lightly explaining.
In a nutshell, based on how much an affiliate invests in a bundle, they are awarded a specific variety of OneTokens.
Beginner– 1000 tokens
Trader– 5000 tokens
Pro Trader– 10,000 tokens.
Executive Trader– 30,000 tokens.
Magnate Trader– 60,000 tokens.
These tokens are “traded” on what OneCoin refer to as the “OneExchange”.
Masquerading as a crypto-currency, OneCoin’s OneTokens are nothing more than Ponzi points, pegged to nothing more than the rate of new money flowing into the company through affiliates:.
The more people join the OneCoin concept, the greater the appeal and value of the currency.
The more popular OneCoin is, the greater the worth of the cryptocurrency.
As long as no one exchanges their OneTokens for cash, OneCoin hold everybody’s cash. If money flowing in decreases nevertheless, OneCoin execute what they describe as “splits”.
Basically, everybody’s tokens increase, which owns down the worth of an individual token.
OneCoin are rather secretive about their OneExchange virtual currency trading platform, nevertheless one can safely presume ther’re withdrawal limitations and restrictions on the quantity of tokens an affiliate can “offer” over set amount of times.
In this sense OneCoin operates no in a different way to other Ponzi points-based plan, only they pretend to be associated with crypto-currencies.
In the US at least, OneCoin would easily fall nasty of SEC regulation worrying the offering of unregistered securities. This is why the business purportedly does not run there.
Not that Europe is any more welcoming of such rip-offs, just that the anonymous owners are obviously hedging their bets versus getting away with it by registering the business in Bulgaria.
As soon as brand-new financial investment in plans stops and the entirely approximate worth designated OneTokens goes into an irreversible spiral, those running the scheme will simply disappear.
Along with exactly what’s left of everybody’s loan.