If you do not understand it, you should not get involved or invest in it. That is a lesson you should learn from this Dagcoin MLM review. Cryptocurrency is not easy for the average person to grasp. It involves blockchains, smart contracts, and people far smarter than most.
Yet, the MLM industry is plagued with these new players in the MLM game. That is because cryptocurrency is the new shiny toy that few understand and reopened to being scammed. Yes, we said the ‘S’-word, as if you do not understand smart contracts and cryptocurrency, you will be scammed.
Please keep in mind as you read my Dagcoin MLM Review, that I am not a member or an affiliate of Dagcoin MLM. This review is based on research and information available online in the public domain. Any opinions and conclusions may not apply to all persons or situations. So read this review in its entirety and you make your own decision. It might even be helpful to read other Dagcoin MLM Reviews.
To learn about this new version of the cryptocurrency trading game, continue to read our review. It has the information you need to make sure you have the support needed to say no.
That is what you have to do. You have to be strong as Dagcoin is nothing but a Ponzi scheme. The owners are only out to take your money and as much money from other people as they can.
What is Dagcoin?
Dagcoin is the brainchild of Nils Grossberg, a man who is associated with One Coin. The FBI investigated this latter company, and many of the front people were sent to jail because of their association with One Coin.
Founded in 2017, Dagcoin uses the same marketing strategy that One Coin used before being brought down. Mr. Grossberg claims that Dagcoin will be the only currency you need to use every day, something One Coin said as well.
Even though Dagcoin is affiliated with Success factory and bills itself as an educational company, there are no products and no educational materials involved with this company.
Even with this lack of product, the company claims that it has over 160,000 to 200,000 members. Unfortunately, there is no means possible to verify that claim. There is also no way to verify a lot of claims made by that company.
While Mr. Grossberg may be a real person, very little is known about him, but he does have a LinkedIn profile. Profiles can be faked, though. At best and in an ideal sense, Dagcoin is a cryptocurrency investment opportunity that goes nowhere.
You have to get people to pay into the system to receive any money in return for your investment, which describes a Ponzi scheme.
How Does Dagcoin Work?
The only way this opportunity can work is that you select a set amount to invest, and you will get an equal or almost equal amount of Dagcoins in return. If you invest $100, you get 100 Dagcoins. If you invest $500, you get 500 Dagcoins. Then if you invest $2,500, you will get 3,000 Dagcoins,
The higher the investment, the greater the amount of Dagcoins. By now, you should be asking what Dagcoin is. It is an electronic currency. Mr. Grossberg is working hard to get accepted by businesses, organizations, and institutions to trust it and accept it instead of cash.
It is supposed to be an alternative to cash, checks, and credit cards. This trust-building is hard to do when nothing can be verified about the company, the validity of this cryptocurrency, or its membership.
It is also supposed to be an MLM corporation where affiliates invest and then recruit others to make a commission. The typical MLM multi-level structure helps the affiliate make money off of their recruits’ activities.
Can You Make Money With Dagcoin?
No, not really. As explained to us, it is tough to make any money working as an affiliate for this company. We say that while you get a 10% commission off of new investments you generate, you do not see that money.
That is because Dagcoin restricts affiliates from getting their commissions for 8 months. You may get 3% interest on those withheld funds, but only half of that 3% will be in cash. The other half is withheld for another 8 months.
There are 11 affiliate levels on this company’s ladder to success, and each rung has its own rules and requirements. Their compensation plan talks about the weaker binary side as the key side, but there is no explanation for why that is so.
We haven’t even talked about the amount of investment you need to pay upfront to play this game. The lowest level requires only a $100 investment from you. The highest level is $25,000.
Your starting level depends on how much you give these unknown people. This investment opportunity is like the street-side shell game. You think your eye is on your money, but when the owner pulls sup, the shall, you see you were mistaken and out your money.
This is what is happening with this Dagcoin cryptocurrency. Now you see it now you don’t.
Examples Of How To Make Money with Dagcoin MLM
One way you are supposed to make money is through successful referrals. Once you sign someone up, you get a 10% commission. At $100, that is only $10 so, you need to target big spenders to make any money through your personal recruitment effort.
Next, like standard MLM companies, you earn commissions off of the money generated by your downlines. Then there are matching bonuses, weekly rewards, and rank achievement bonuses. All of these are only paid in Dagcoin, not real cash.
Did we say that there is no product to buy or sell? That is the catch. All your people are doing is sending in money for some fake cryptocurrency and hoping someone else will invest so they can get a piece of their investment back.
Keep in mind that your return is held for 8 months, and you may only see 1 1/2% of anything you supposedly made. Everything else is held from you for that 8-month period. In other words, you are working for nothing.
The reality is that we can show example after example of how you can make money through this company, and none of those examples is true. They are designed to keep you getting recruits and keeping the money from you.
The Pros & Cons of Dagcoin
This is another one of those situations where there are absolutely no positives that can be mentioned. The nicest thing anyone can say about this company is that it is a clone of One Coin and other Ponzi schemes that have populated the MLM industry.
- Absolutely nothing here
- It is a scam
- It is a new version of older scams under a new name
- There is no transparency
- There is no way to verify claims made by the company
- You need to recruit and recruit and so on till infinity
- The currency is worthless
- Its a pyramid scheme
- No products to sell to make money
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Any Negatives? Beware of Lawsuits
So far, there are no lawsuits filed against this company. That may be because there are not that many investors or members involved. If there are some, they may be too embarrassed to say anything to law enforcement.
There is also nothing but negative about this company. With no transparency, no oversight, and no training is hardly an educational company, and it is filled with lots of smoke and mirrors.
If you can recruit, you may be able to talk some unsuspecting person into investing their life’s savings, but there is no guarantee you will get your commission or see anything for all your hard work.
The fact the company withholds your commissions for 8 months should be a big enough red flag to keep you away from being involved in its schemes. If you look past the hype, you will see that the wizard behind this investment opportunity is standing behind the curtain, pulling strings and levers to get you to cough up your dough.
There is no return on your investment.
Is Dagcoin Legitimate?
No, it is not. Hopefully, that answer is short and sweet enough for you to understand. Forget the hype, forget the claims and forget the promises as they do not lead you to any financial freedom or a financial goal you have in mind.
This Dagcoin is just another One Coin scam that has reinvented itself to fool people into thinking their electronic currency is valid and valuable. There are not 160,000 members, there are not 200,000 members, and there are not 450,000 members.
There is just Mr. Grossberg and his fellow cohorts pocketing all the money they can. Plus, they only pay in Dagcoin, so you will not see any cash any time soon. There is a lot of double talk with this company, and it is done to hide the fact that this company offers nothing to gain from investing in it.
We wish we could be more positive and send you in the right direction concerning this company. But the reality is we are helping you out by steering you away from it. Benjamin Franklin once said, “a penny saved is a penny earned.” You won’t save any pennies investing and working for this company.
When a company really doesn’t exist except to scam unsuspecting people, then our warning through our Dagcoin MLM Review has done its job. It has prevented another sucker from making a big mistake.
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14 thoughts on “Dagcoin MLM Review – Is This A Scam To Stay Away From?”
Thank goodness I found your article, I was about to sign up!! I’m so glad I didn’t and I read this before I did. I knew it was an MLM but I did have my high hopes. It sounded too good to be true. Thank you for sharing this information and helping me make an informed decision about this
All MLM sound so good to be true, and that what they use to pull people in their scam. Although lots of people fall prey to their fake pretence, the numbers are dwindling. And this is the reason I build this website to inform my audience what to stay away from. Happy that this review caught you at the right time.
YOU are helping the learned class but if you come to Africa, many have fallen victims. i now see their offices closing down may this information has disseminated.
Sorry to hear of those fallen victims, that is the reason I look for programs that have a free starter membership so that i could look around first before I put out any cash. Programs like The Wealthy Affiliate.
Thanks for this very informative article on how Dagcoin is a scam. Using a strategy uses by a company that had troubles with the FBI, and being associated with that company is a red flag for me first. Then making claims that are unverifiable is another red flag! Many people are buzzing about cryptocurrency, without knowing much about it. And it is very bad and can ruin them if they should invest in the wrong company. Well, with articles like this, I am sure the rate of that will reduce.
Hey Nelson. thank you for your insight here. I do agree with you and most people reading this article will do the same after seeing who Dagcoin is. MLM is always a bad business idea except for a few. And the failure rate is so high today because on business like this that give it a bad name.
As you said, definitely don’t invest if you can’t even begin to understand. I think the biggest red flag for me is the number of restrictions placed on when you receive the money you worked for. 8 months is a ridiculous amount of time especially if I put in the work to market for them correctly. Definitely avoid this one, thanks for the warning.
You are so right and you hit the nail on the head. Eight months is definitely a long time and that is what all these scam businesses do, they just want to take as much as they can with their members doing if not all, most of the work. You make the right choice by ignoring this business.
“ Four DagCoin executives, including the company’s creator Nils Grossberg and CVO Kris Ress, have been detained by Estonian authorities (aka Kristjan Ress).” Nov 2022 – see above article.
I’ve been trying to get my money back for a while. But of course without any success.
Sorry for your loss. It is great that the authorities were able to detain these executives. I hope they would be able to recover the money and give it back to the people. Thank you for the information
NO hope to recover the money because all account details were closed implying no evidence. i wrote off the millions i lost and moved on.
Sorry for your loss. I hope you can find a program that works the same way I did in Wealth Affiliate.
Atleast you may still have access to your account but some of us in Uganda things ended just like that. Nowhere to start as we were convinced by our own relatives/friends, and we can do nothing as we all still struggle to make ends meet.
MLM companies have a bad name which is why I do not recommend them for beginners who want to make some money and build a full-time income. Only the ones at the top reap all the benefits, and there is no guarantee that the company will be around for a long time.