UBW or Ultimate Business World is a site that deals with cryptocurrency. The site has created their own form of currency known as UBW coins. These coins, however, hold no real value even though the site states that they are back by the Euro. This statement only means that you have to invest in the coins by paying with Euros.
What is Ultimate Business World?
The site was registered April 2016. The registered information for the site according to Who.is is set to private. However, when you go to the site, you are given an address, as well as a list of people who are claimed to be working with the company.
The site address is listed in Estonia with what looks like an invalid phone number leaving the only way to contact the company is through email. When researching the address listed on the site, google shows that the address is for the “Business Centers Tallinn Metro Plaza”. There is a few business listed as being in the building, but there are no accounts of UBW actually being in the building. What you will find though is a company called Regus that is used to set up “virtual offices”. UBW could very well be a “virtual office” that is run by Regus.
UBW claims to be owned by Manhattan Securities which is also based out of Estonia. Manhattan Securities site is also set to private and you will hardly find any information about them. However, they do link themselves back to UBW. So, it would seem it is just one giant circle with no real information given to the public.
There are no products available. However, the site is trying to get established with other business owners so that they can rent or sell anything on UBW platform using UBW coins.
According to the site, the UBW coins are backed by the Euro with a 1:1 ratio and with every new affiliate the coins value will increase by 0.00002 EUR. The increase of value to the UBW coin sets up the site for the affiliate program so that investors can start to see a return on their investment.
There are four packages that you can sign up for when you become an affiliate for UBW. The “Starter” will cost 60 EUR and in turn, you will get 60 EUR to your account. There is the “Business” package which is 600 EUR and then the “Professional” that costs 3000 EUR in which you will get 1,000 EUR.
The idea is to get people to sign up with one of these four accounts and raise the value of the UBW coins. From there, affiliates will be paid out an ROI, but it all depends on how many people sign up to increase the value.
There are so many things wrong with this program. First, the site clearly tells you that the coins are worthless outside of UBW. It isn't like gold or silver where you can get them and then cash them somewhere else. The business wants more people to join up so to increase the value of this make believe money so that they can earn on your investment.
The site also mentions how they want to get other businesses involved. However, if the money doesn't exist, then whatever products they come up with won't hold any value to them either. Which makes this whole thing a lost cause.
Secondly, the fact that the information for the registered information is blocked should send up red flags. The site may have pretty pictures to give you a face and a name, but why not list them for the registry unless the company is trying to hide something?
Lastly, the coins are based on supply and demand. After all, that is how most banks, retail and any other legit business works. Not UBW. There is no demand for the coins yet somehow, they increase in value due to people buying into them. Your best bet would be to steer clear from this site. Don't get swooped up by the fancy website layout and exotic cars. This is how many other high-risk websites look too. It is to give you the impression that they are high quality.
The sad truth is the coins don't have any value outside of the UBW umbrella.