iCoinPro Review  –  Ponzi Scheme  –  MLM Scam

Website & Company Information

The web domain of the company was registered on the 28th of March 2017 and was later updated on 2020–03–29. According to the site, the company is based out of Texas, United States.

The company is run by Paul De Sousa. According to his Facebook profile, he is based out of Johannesburg, South Africa. So if the founder is from South Africa, why would he register his company in the United States.

Paul De Sousa has been in the MLM market for a very long time. He used to provide leads for various MLM opportunities. He was seen promoting Gain Bitcoin, pyramid recruitment and Ponzi fraud in 2016.

At the time of writing this article, Alexa cites the United States as the top traffic source contributing to a whopping 81.5% traffic share. They are definitely targeting users from the U.S.

iCoinPro Products

iCoinPro markets itself as a ‘source for education, information, and training on everything cryptocurrency.’

Earlier in 2017, they used to charge $39.95 a month membership. But now the monthly membership charges range from $9.95 a month to 99.95 per month.

The iCoinPro Compensation Plan

The iCoinPro compensation plan pays affiliates based on sales of the memberships retail customers and recruited affiliates.

Fast Start Bonus Commissions

These commissions are paid out on the initial subscription payment that your direct recruits make and also your team members make when you are qualified. Fast start bonus commissions are paid out via a unilevel compensation plan structure, below is the breakdown:

  • 1st Level — This level of your unilevel plan will only have your personally referred members on it.
  • 2nd Level — This level of your unilevel pay plan will only have the referrals that your personally referred members sponsor into iCoinPro.
  • 3rd Level — This level of your unilevel pay plan will only have the referrals that your Level 2 team members sponsor into iCoin Pro.
  • and so on…

Breakdown of the fast start commissions that you can earn and what qualifications you will need to earn from more levels:

  • Unranked — Join and earn $50 commissions on level 1 members only.
  • Star 1 Rank — $50 from direct recruits and $10 from your level 2 members.
  • Star 2 Rank — $50 from direct recruits and $10 from level 2 members and $8 from your level 3 members.
  • Star 3 Rank and Above — $50 from direct recruits and $10 from level 2 members, $8 from level 3 members, $5 from level 4 members and $4 from your level 5 members.

Fast Start Infinity Override

Fast start bonus kicks in when you qualify for the rank of 3 Star and above.

After achieving rank 3, affiliates become eligible or earning an additional $3 commission when anybody joins their enroller tree down to unlimited levels.

Starting at the rank of 3 Star, you will earn an additional 3% override on all new members who join your Enroller Tree within that generation of rank. So if you are a Star Elite, for example, and nobody in your team had achieved 3 Star or above yet, you would earn an additional 6% (3% for 3 Star and 3% for Star Elite) on every single person that joins your entire enroller tree, infinite levels deep…including those members on your first 5 levels in your organization that you also earn the Fast Start Bonuses on.

This allows you to earn up to an additional 9% on every single initial order in your entire organization!

Infinity Fast Start Overrides are paid out each week on Wednesday with Fast Start Bonuses.

Binary Commissions

In the binary commission payment structure, you only have 2 legs which are the right and left leg. Filling these legs require direct and indirect sponsorships.

Binary Commissions are paid out the first Thursday of each month for the previous month’s volume. Any volume that is not paid out will roll over to the next month and so on. No flushing!

Breakdown of the monthly commissions based on Ranks:

Matching Bonus

The company also pays Matching Bonus. These bonuses are paid through the earnings of your direct recruits and also the team members commissions that they earn from the binary compensation plan structure.

This is paid out when they get paid their monthly commissions as long as you “qualify” for this Matching Bonus commissions.

Breakdown of the criteria required form earning Matching bonus:

  • Sponsor 1 New Member For the Month — Qualify to earn a 100% match from all of your personally referred member’s binary commissions.
  • Sponsor 2 New Members For the Month — Qualify to earn a 100% match from all of your personally referred members and 25% from your level 2 team members binary commissions.
  • Sponsor 3 New Members For the Month — Qualify to earn a 100% match from all of your personally referred members and 25% from your level 2, 20% from level 3, 15% from level 4, 10% from level 5 and 5% from level 6 team members binary commissions.

Conclusion

The company portrays itself as a ‘source for education, information, and training on everything cryptocurrency.’ but they are fully focused onmarketing the income opportunity over whatever training is bundled with $9.95 a month to 99.95 per month membership fees.

If you take a close look at the site, you will see a brief explanation about the MLM opportunity they provide. This is ironical because they do not provide any deep knowledge or ‘explanations’ about the courses they are offering. Are they really selling courses and educational materials? Or they are just another MLM company under the guise of providing crypto-education.

As a prospective iCoinPro affiliate, all you need to do is ask your potential upline affiliate for the receipts of the retail sale the company requires them to keep:

A Distributor is required to keep all records of Retail Sales for at least four years and compliance with Retail Sales requirements of the Company is randomly monitored by the Company.

iCoinPro operating as a pyramid scheme would see the majority of memberships sold purchased by affiliates.

In this case, for any potential affiliates, if the initial recruitment hype dies down, they are going to lose money.