There is always plenty of hype whenever there is a new MLM on the market. That is the case with Dagcoin. From social media to blogs, everyone is talking about this MLM company. Their affiliates have been particularly active for the last few months, trying to pitch this business idea to interested parties. There are high chances that you have already been approached, and you are wondering whether this is a legitimate opportunity for you. Well, you are in the right place. This Dagcoin review will provide you with all the information you need, from the background, product line to the business opportunity. You can then decide whether this opportunity is worth your time and money.
Dagcoin Review – Company Background
According to their website, Dagcoin specializes in trade of cryptocurrency. Nils Grossberg is the founder and CEO. Information available on his LinkedIn profile indicates that Nils operates from Estonia. There are no means of verifying whether his stated location is true or false since he has not provided any other information regarding his whereabouts. The same LinkedIn profile indicates that the mission of Dagcoin is providing other forms of currency for people to use, especially in the Asian market.
Well, that statement alone should trigger memories. Before forming Dagcoin, Grossberg used to be part of another company known as OneCoin. In fact, he was one of the top investors in this company, which was more of a Ponzi scheme. OneCoin used a similar marketing approach to Dagcoin. Upon further digging, I was able to establish that OneCoin used a similar marketing approach to that being used by Dagcoin. Furthermore, Grossberg left OneCoin around the same time the Dagcoin’s website was registered. Therefore, there are high chances that Dagcoin is just another Ponzi scheme, disguised as a cryptocurrency trading platform.
Dagcoin Review – Product Line
When it comes to the product line, Dagcoin doesn’t offer anything. In short, there are no services or products available for retail customers to purchase. Therefore, affiliates are left with nothing else but their affiliate membership to market to potential affiliates. This approach is quite common in Ponzi and pyramid schemes, where you join and then recruit others to join so that you can earn. If you join Dagcoin, you will be required to invest real money into their cryptocurrency trading platform. However, you need to note that Dagcoin is not available for trading on any public market. Therefore, any trading has to occur internally, and it has no value outside the system.
Dagcoin Review – Compensation Plan
When you invest into Dagcoin, you will have the opportunity of earning ROI. The amount of money that you can earn solely depends on the volume of your investments. Various investments levels are available.
- Starter: In this level, affiliates have to invest a minimum of $100 to earn returns of 100 dagcoins.
- Explorer: Affiliates have to invest at least $500, to earn returns of 500 dagcoins.
- Advanced: In the advanced level, affiliates are required to invest a minimum of $1000, which earns them a return of 1000 dagcoins.
- Expert: Expert level affiliates have to invest a minimum of $2500, which gives them a return of 3000 dagcoins.
- Pro: In this level, you have to invest $5000. Once you make this investment, you will earn 6000 coins.
- Mentor: Affiliate level experts have to invest at least $12500, with assured ROIs of 17,500.
- Investor: In this level, you are required to invest $25000, which earns you a return of 35,000 dagcoins.
Once you invest the dagcoins, you can’t touch them for at least eight months. Throughout the waiting period, you will be earning weekly ROIs of 3%, depending on your level of investment. Your earnings are paid out using dagcoin. As for your earnings, 50% is retained by the company for an extra 8 months, while the other 50% is paid directly to your upline. Apart from the direct ROI, you can also earn through residual and recruitment commissions. The Dagcoin compensation plan also has eleven affiliate ranks.
- Affiliate: You just need to sign up and then invest.
- Junior Manager: In this level, you have to generate a minimum of $10,000 in terms of investment volume.
- Manager: generate a minimum of $25,000 in investment volume, recruit, and maintain a minimum of two junior managers.
- Senior Manager: generate a minimum of $50,000 in investment volume, recruit, and maintain a minimum of two managers.
- Junior Vice President: generate a minimum of $100,000 in investment volume, recruit, and maintain a minimum of two senior managers.
- Vice president: generate a minimum of $250,000 in investment volume, recruit, and maintain a minimum of two junior vice presidents.
- President: generate a minimum of $500,000 in investment volume, recruit, and maintain a minimum of two vice presidents.
- International Vice President: generate a minimum of $1,000,000 in investment volume, recruit, and maintain a minimum of two presidents.
- Ambassador: generate a minimum of $5,000,000 in investment volume, recruit, and maintain a minimum of two international vice presidents.
- Crown Ambassador: generate a minimum of $10,000,000 in investment volume, recruit, and maintain a minimum of two ambassadors.
Dagcoin pays residual commissions a binary compensation structure. In this binary compensation structure, an affiliate is positioned at the top of the team, which is then divided into two sides. The first level in the structure holds two positions. The second level is then created by dividing the first two positions, thus creating four positions. Subsequent levels in the team are created using a similar approach, with each new level holding double the number of positions as the previous one. Positions in the structure can be filled through direct and indirect recruitment.
Cost to Join
If you would love to join Dagcoin, then you will have to invest into one of the investment tiers described above. Your earnings range from a minimum of $100 to a maximum of $25,000, depending on the level of your investment.
When you consider all the details carefully, Dagcoin is just another OneCoin. There are no products available for sale or retail, which means no outside money is coming in. Therefore, new funds are used to pay existing investors, which is a typical Ponzi scheme. Ponzi schemes collapse after a few months, and only a few investors will recoup their money. As usual, Nils Grossberg will run away with a huge share of the earnings, leaving investors to count their losses. You are warned.