Over the last few years, I’ve reviewed a lot of Forex-related and stock market products…I didn’t know much about these subjects before I started covering them.
The more you learn about a subject – the more interested you get.
So I finally jumped into the markets about 2 years ago!
Now, I’m not saying it was a dream move – I had to learn the ropes.
But now I’d rank myself as a fairly safe investor.
Today’s opportunity is covering a Cryptocurrency setup named Xtreme Coin.
Now, Cryptocurrencies are a relatively new thing, and are based on a very volatile market.
I don’t trade them often, because they are hard to read…
So, is Xtreme Coin a scam or is it legit?
Let’s take a closer look…
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The Xtreme Coin Review
What is Xtreme Coin?
Well if it was left to gathering information off their website – this section of the review would be left pretty dry!
Well the website looks nice enough – dynamic and all that…but there’s no real indication of what you will be doing to earn money, or even how you can earn money with them.
Even signing up was a bit ‘cloak and dagger’ – I needed a referral link to get in!
Time to call in a couple of favors…
Yeah I managed to get the ‘inside info’ handed to me on a plate! 🙂
One of the perks of working online for a living.
Anyway, turns out the whole Cryptocurrency setup is not a million miles away from a MLM system…
This got me worried…very worried.
Now we move onto the coin itself – have you ever heard of Xtreme Coin before?
No, me neither.
This means that you are roping new members in (referrals) without a solid guarantee that this coin will eventually be listed on a Cryptocurrency exchange.
If it doesn’t manage to get listed on an exchange – it’s existence will be pointless!
I’ve seen a number of these MLM-based Cryptocurrency setups over the last several years, and I don’t remember even one of them being successful.
Some actually make it to the exchange, and then fold about a year later.
When that happens, it takes all the investments with it!
The Xtreme Coin Membership Options
Below are the seven, rather confusing and mysterious membership packages (the image only displays four of them!)…
1) Sapphire: Entry to this level costs .05 BTC and promises a payout of .15 BTC. It also boasts of a great support network and reductions to a handful of hotels? That’s right, hotel discounts!
I wish I could give you more information on these hotels…but there is no mention of them on the website.
Maybe the owners of Xtreme Coin have struck some sort of deal with a hotel chain that accepts their new Cryptocurrency?
2) Pearl: The Pearl level will cost you .10 BTC to enter and has a payout of .30 BTC. This level offers great support (once again!) and reductions on last minute trips and condos? Yeah, I was a little confused as well.
It’s safe to say that there is no information on these trips or condos available on the site.
3) Ruby: This level costs .25 BTC to enter and has a payout of .75 BTC. The carrot they dangle with this level is a reduction in car rental services (no comment!).
I’ll stop there because it seems pretty pointless to list the rest – they all contain rather strange discounts and promises and are labeled Emerald, Diamond, Blue Diamond and Xtreme Diamond (each level costs a little bit more than the last one, obviously!).
Is Xtreme Coin a Scam?
This is a really hard one to answer, so I’ll try and cover it from the sensible angle…
A Cryptocurrency coin needs to be listed on a Cryptocurrency exchange to have ANY sort of value.
At the time of writing this, Xtreme Coin is not listed on any exchange.
If you invest in this coin you run the risk of it never being accepted on an exchange, which means your investment will be worthless.
The best you can hope for is to have a good Xtreme Coin management behind you…but I cannot promise that!
In fact, it’s near enough impossible to find out who is running this show in the first place.
Remember – even if the coin eventually gets listed on a Cryptocurrency exchange, it needs to become popular…it needs to be used by companies.
If it’s not used, and it’s still listed…it’s still worthless!
You can always try and rely on the MLM pyramid setup to get your investment back…but who wants to do that at the end of the day?
Someone is going to lose out – either you or the recruits you bring in.
I’m not going to call Xtreme Coin a scam, but I’m definitely NOT going to recommend it to anyone…