Is Xtreme Coin a scam or not? I was asked this question so many times that I decided to look into this digital coin. This is yet another in a growing sea of cryptocurrency MLM schemes, but can you really make money with this one?
Let’s take a closer look and find out…
Over all the crypto and make money scams out there?
Company Name: Xtreme Coin
Price To Join: .05 BTC
My Rating: 1/10
~ Xtreme Coin Reviews ~
What Is Xtreme Coin?
This company in the cryptocurrency niche kicked off in mid 2017, however, there is very little information available about Xtreme Coin and who actually runs it.
At first glance this looks like a typical Ponzi scheme using apparent investment in a new cryptocurrency as an excuse for people to invest money into a MLM pyramid scheme. These are popular the world over at the moment, and more and more are using cryptocurrency as the investment rather than just regular dollars.
These schemes are also known as high yield investment programs (HYIP).
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How It Works
Using Bitcoin as your investment currency, this system promises to triple your investment using a 2×2 matrix. The MLM component of this money matrix allows you to earn more by recruiting others into the matrix.
There are no products associated with this and it’s very similar to some other cryptocurrency revenue sharing platforms, such as Coinspace.
There are a total of 8 different packages you can buy into, with each package having a higher and higher buy in price. The higher the package you can sell to others, the more money you stand to make. In order to be able to earn on a certain level, you must first buy into that level yourself.
Here are the 8 packages and how much they cost:
- Sapphire – 0.05 BTC
- Pearl – 0.1 BTC
- Ruby – 0.25 BTC
- Emerald – 0.5 BTC
- Diamond – 1 BTC
- Blue Diamond – 4 BTC
- Xtreme Diamond – 10 BTC
- Executive Club – 15 BTC/Year
As mentioned earlier, each package is designed to triple your income, so on the Xtreme Diamond level you should see a return of 30 BTC for your 10 BTC investment.
As far as the matrix works with recruiting, the idea is for you to bring in 2 people who purchase a particular level, and then they each bring in 2 people. The higher the level both you and your recruits buy into, the higher the commissions will be.
Below is a video that explains how the Xtreme Coin matrix works in more detail.
Is This An Illegal Pyramid Scheme?
I believe it is, yes.
The definition of an illegal pyramid structure is one that relies solely on recruiting and bringing in new money to pay its members. It’s also a naked pyramid, which has no products of tangible value. Now one might argue that the Bitcoin itself is a product, but it’s nothing more than a commodity, just as if you were using regular dollars to invest in a money matrix.
These types of platforms are always promoted with the get rich quick mentality, although it can actually take ages to make money due to the fact that you have to continually recruit new people into the system. Schemes like this also attract people who are looking to make money without having to put work in.
What I Like
- I don’t really like anything about this scheme, to be honest
What I Don’t Like
- There is very little information around about this company or whose behind it
- This is a Ponzi scheme
- Schemes like this are doomed to fail as soon as recruitment dries up
- Most people will simply lose their investment before they’ve had a chance to make a profit
- You will have to recruit like a maniac to make this work
- You need to buy every level to be able to earn on every level, and that will get massively expensive
How Much Does Xtreme Coin Cost?
At the bare minimum it will cost you 0.05 BTC to get involved. If you purchase all levels, that’ll be a total of 30.9 BTC. Currently one Bitcoin is equal to $12,969.36 US (at the time of this writing). That means to buy all levels of the matrix it will cost you a total of $400,753.22 US. That’s a massive investment in a Ponzi scheme that is doomed to fail at some point.
Is Xtreme Coin a Scam?
I believe it’s a scam in the sense that it operates on a naked pyramid structure. Technically you could make money out of this, but even if you do, how do you get it? Ask the anonymous owner for a payout?
This guy who runs Xtreme Coin won’t even reveal his identity. Do you think he’s likely to pay you out when he doesn’t even want people to know his name?
That’s a huge red flag, and for me that’s all I really need to know to warn people to stay away from this dodgy pseudo cryptocurrency Ponzi scheme.
Schemes like this one are a lot like gambling, so you might have better luck with this lotto system.
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