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 the cryptocurrency you will be scammed.
To learn about this new version of the cryptocurrency trading game, just continue to read our review. It has the information you need to make sure you have the support needed to just 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. This latter company was investigated by the FBI 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 it was 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 in order for you to receive any money in return for your investment and that 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 building of trust 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 invest in order to make a commission. There is the typical MLM multi-level structure to help the affiliate make money off of their recruits’ activities.
Can You Make Money With Dagcoin?
NO, not really. As it has been explained to us it is very difficult to make any money working as an affiliate for this company. The reason we say that is 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 is the key side but there is no explanation why that is so.
We haven’t even talked about the amount of investment you need to pay upfront just to play at this game. The lowest level requires only $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.
Dagcoin MLM Review: Examples Of How To Make Money
One way you are supposed to make money is through successful referrals. Once you sign someone up, you get a 10% commission. On $100 that is only $10 so, you need to target big spenders in order 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 bonus. All of which 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.
What 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.
Dagcoin MLM Review: Pros & Cons
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
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 negatives about this company. With no transparency, no oversight, no training is hardly an educational company and it is filled with lots of smoke and mirrors.
If you can recruit then 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 in order to fool more 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, the only pay in Dagcoin so you are not going to 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 there is nothing being offered by this company and nothing to gain from investing in it.
Dagcoin MLM Review Final Thoughts
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.