Coin4All is an MLM company that refers to itself as global donation system that can connect you to thousands of like-minded individuals all over the world.
The company’s website brags that its MLM format is revolutionary because donation payments decrease as you climb the ladder to a new level rather than increase with each new level.
Despite such a bold claim, there is so little known about Coin4All and the opportunity it offers, which should make one weary about getting involved with Coin4All.
What Is Coin4All?
There is almost no information about Coin4All available on the company’s website. The “About Us” page speaks about the journey towards financial security and the ideas that inspired those behind Coin4All to create the company.
However, no names are given with regard to who founded the company, only that the company was apparently created by a designer, a programmer, and a small business owner coming together for a common cause, although they admit to having limited experience in network marketing.
The only part of the “About Us” page that’s at all revealing is a mention at the bottom of the page that Coin4All wishes to build on the success of Zarfund and Crowdrising, which are both MLM firms.
Zarfund was founded by Hannes Jordaan, an entrepreneur from South Africa. However, there’s nothing concrete to connect Jordaan to Coin4All. Meanwhile, Crowdrising’s website gives no mention of the company’s founders, much like Coin4All.
It’s important to acknowledge that Zarfund and Crowdrising have both been shown to be scams, and so Coin4All mentioning them by name doesn’t help its case for being a reputable opportunity.
The “Contact” page on the Coin4All site opens up a new page that has no information whatsoever. The site merely asks the question, “How can we help you today?” with a search engine below. However, no matter what you plug in, the search yields no results, making the page utterly useless.
Further research tells us that the Coin4All domain was registered in September 2016, so the business has little history, although that does not absolve it from having no information available about the company’s founders.
We can also discern that much of the site’s traffic is coming from Nigeria, which is a major red flag for any MLM firm.
The Coin4All website gives no indication that the company has any products that it sells. Instead, all the company offers is membership within the company.
Participation in Coin4All requires a bitcoin wallet, as all transactions are made in the form of bitcoins. Once you sign up to become an affiliate with Coin4All, you enter a 3×10 matrix.
At that time, you will make a payment of 0.055 BTC (equivalent to roughly $52) to the person who referred you to Coin4All. This allows you to then receive donations from people you sponsor on Coin4All.
Once you start to sponsor people, they will give you the same bitcoin donation that you gave to your sponsor. After you sponsor three people and they start to sponsor people, your sponsor’s sponsor will also give you donations.
This will continue all the way to 10 levels, with the amount donated to you decreasing at each level all the way down to 0.01 BTC (equivalent to just under $10).
Of course, at the same time you will also be making donations to the people who sponsored your sponsor, as well as that person’s sponsor, all the way up to 10 levels. The amount in bitcoins you must donate at each level is the same that will be donated to you at each of the 10 levels.
It’s also important to keep in mind that donations must be made within a specific period of time in order to remain an active affiliate; otherwise, you won’t be eligible to receive donations from those in your network.
It’s highly likely that Coin4All is a scam that will not pay off for a majority of the people who sign up as affiliates. The fact that we can’t find the names of the people who set up the company is a major red flag.
On top of that, one should always be weary of a company that doesn’t sell any tangible products or services, which is the case with Coin4All.
Moreover, the matrix system set up by Coin4All is unsustainable over a long period of time. All of the money (assuming you consider bitcoins to be money) moves towards the top, benefiting the people at the top of the company, while leaving little for people who join the company down the line.
Thus, the founders, who are at the very top of the matrix, will make the most money before the company ultimately collapses when new affiliates stop signing up. This is why the founders have declined to identify themselves and why you should avoid Coin4All.