If you’ve been paying attention lately, you’ll notice that RevCoin has been getting a lot of hype.Because it’s new, it’s getting a lot of buzz and if you’re in an online business, I am sure someone will push it on you at some point.Revlon ReviewIt’s especially popular on social media at the moment.
I do want to let you know that I am NOT affiliated with RevCoin as a member or distributor.My goal is to gather all the facts in one place for you so you can do your research – and it’s all here in my RevCoin Review.
Is RevCoin a legit business, or is it a complete scam?Will I be able to build a business with it?
We tell you all about it in our Review of RevCoin.
What Is RevCoin?
To kick off our review of RevCoin, we’re already starting things in a less than desirable area. The RevCoin’s website doesn’t have any information listed in regards to who is actually running or owns the company, and this is something that consistently proves to cause for legitimate concern.
Close your eyes and think for a second about any legitimate company that you know. Got that company in mind? Now go ahead and search the company’s site for information in regards to the top people involved with said company.
Chances are you were able to find information in regards to who founded or currently runs the company you researched. This is because listing such info is simply a good practice in the world of business.
Whenever we encounter a company that doesn’t make this information readily available, it begs the question as to why they decided to keep it hidden. Multi-level marketing companies who do this more than often turn out to be schemes, and in the case of RevCoin, there’s no clear information available about who owns or runs the company.
However, if we do further research into the company’s website, we are able to find some rather interesting and alarming information.
The RevCoin website lists a registration for the UK Companies House, and this registration has a founding date listed as June 22ndof this year – 2016 – for the company.
There’s also an addressed that’s tied to this registration, and the addressed is located somewhere in Hertfordshire, England. Along with this address, the registration also cites someone by the name of Carlo Trabattoni to be the “Marketing Manager”.
What’s interesting though, is that if we look up Carlo Trabattoni on the Internet, his related social media accounts were created mere weeks ago. This would greatly suggest that Trabattoni actually doesn’t exist, and is just a name being used on the site for the sake of things.
Not having any names listed or tied to a site is absolutely a red flag, but having a name listed for someone that more than likely doesn’t exist is just – if not more – worrying. There’s no reason any legitimate company would act in such a way, and this bit of initial information creates for a rather bad image for RevCoin already.
What Products Are Being Sold?
Another important area for any multi-level marketing company comes with its product line. This may seem like a small area to put a great deal of focus on, but it comes with good reasoning.
A product line with any company allows for retail sales of a product or service. When these sales occur, outside money from retail consumers is able to circulate throughout a company. So, when there’s no product line to speak of, how to companies make money?
In the world of multi-level marketing, this frequently occurs through the act of having affiliates invest their own money into the company.
This on its own is fine, but the real trouble comes into play when companies like this offer commissions or ROIs to their members.
Commissions and ROIs require that the company in question have funds to pay their affiliates with, and when a company doesn’t have a product line, the only funds they have available to them are those that have been invested from other affiliates.
As a result, these companies must pay off their affiliates’ ROIs and commissions with funds from other members of the company. This is a practice that we see with Ponzi scheme, and it’s likely what is taking place within RevCoin.
Info On The RevCoin Comp Plan
So, as you’d expect, RevCoin has a compensation plan set it place for their affiliates. This compensation plan opens up potential for affiliates to earn a bit of money through RevCoin, but only after they first invest some of their own cash.
RevCoin requires that affiliates invest a minimum of $10 in order to be eligible for the compensation plan that’s set in place, but affiliates are able to invest over $2000 if they are so inclined.
Why would you choose to invest $2000 or more instead of just $10? Well, the amount of money that you invest is directly tied to the return on investment that you’re eligible to receive. The ROI in this case is earned on a daily basis, and the various level breakdowns work as follows –
- Affiliates who invest between $10 and $499 will be able to earn a daily return on investment of 2.5% for a total of 58 days – coming out to a total ROI of 145%.
- If an affiliate ponies up between $500 and $1999, they’ll be eligible to earn a 3% daily return on investment for 58 days as well – this one coming out to a total of 174%.
- Investing a minimum of $2000 will grant affiliates with a daily ROI of 3.5% for 58 days – with the total coming out to 203%.
Along with these daily returns on investment, affiliates are also able to make money through the act of referral commissions.
These referral commissions are paid out through funds that have been invested by previous affiliates, and is managed through a unilevel system.
The unilevel system is nothing we haven’t seen before in the world of MLM, and each team starts out by having one single affiliate placed at the very top.
When this affiliate enlists new individuals to join the company’s affiliate program, they are placed at the level 1 position. When a level 1 affiliate recruits someone new to join, they are placed at the level 2 spot. These referral commissions are paid out through the first three levels of one of these teams, and it works out in the following manner –
- Affiliates who are positioned at the level 1 spot will earn a referral commission of 5% of all invested funds in a unilevel team.
- Level 2 affiliates stand to make a commission of 3% of these funds.
- Those who find themselves at the level 3 spot will earn just 1% of the available funds.
What Will It Cost Me To Join RevCoin?
Simply signing up for RevCoin is initially free, but you’ll be required to hand over some cash if you want a chance to make any money through the compensation plan that RevCoin has set in place.
Affiliates are required to invest a minimum of $10, but the more an affiliate invests, the greater their daily ROI will be.
Any Truth To The RevCoin Rumours?
Any time a new business opportunity launches, you will always hear rumours about them being scams – so is RevCoin a scam?
From reading above, you might already be thinking Revcoin is a scam.
So, is it?
Is there a Revcoin scam, or is it legit?
To be honest, Revcoin isn’t a complete scam.
However, there are some red flags to be worried about, which I discuss in the conclusion.
And Now, My RevCoin Conclusion
The whole basis for RevCoin is centered around the idea that the company has a new type of cryptocurrency that is supposedly mineable. The coin goes by the name of RVC Coin, but the RVC Coin doesn’t seem to be used by anyone aside from admins of the company.
The RevCoin website states that admins for the business currently hold about 20% of all RVC Coins that are available, but we weren’t able to find any direct tie between the RVC Coin and the multi-level marketing aspect for RevCoin.
By investing just $10, affiliates for the company are promised a return on investment of 145%. Investing more and more money has the potential to boost that ROI to as much as 203%, but since RevCoin doesn’t have any product line to speak of, the only money that’s funding the company is coming directly from investments of other affiliates.
As a result of this, RevCoin is using those affiliate investments to pay off the ROIs that they owe to all of their other affiliates. Translation, RevCoin is operating as a Ponzi scheme.
The story for RevCoin is similar to what we see with all other Ponzi schemes. The company is fine as long as new members are constantly joining and new investments are continually being invested into the company.
However, the minute this slows down or comes to a halt, RevCoin is going to start experiencing some serious trouble.
Once RevCoin runs out of funds, they’ll be unable to pay off the ROIs that they owe to their current and existing affiliates. And, when we consider how high these ROIs are, that will more than likely decrease the amount of time that it will take for RevCoin to experience a total collapse.
When this collapse does occur, the vast majority of those who invested any money will end up losing out on any funds that they previously invested.
The admins and early investors will make some cash, but they’ll be the only ones to profit at all from the entire company.
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