Looking for a IdeaCoin Review? You’re in the right place. Today we are looking at IdeaCoin Review and we are going to share our full review. If you’re wondering whether it’s a scam or a legit ICO keep reading as we will reveal everything. Also we are not an affiliates for IdeaCoin Review so you can expect and honest review and not just another sales pitch like other reviews do!
IdeaCoin Review
No information has been provided by IdeaCoin on their website about who owns or runs the business.
ideacoin.co, the website domain was privately registered on October 19th, 2017.
If an MLM company does not reveal who is running or owns it, think twice before joining and/or investing any money.
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Products of IdeaCoin
IdeaCoin does not offer any retailable products or services. The affiliates are only able to market IdeaCoin affiliate membership itself. We have done a review on this company that does the same thing, you can see that review here.
IdeaCoin Compensation Plan
The affiliates of IdeaCoin acquire pre-generated IDEA points from the company’s owners.
IDEA points are sold to IdeaCoin affiliates at a rate of 85 cents to $1.05 each.
IDEA points are “lent” back once acquired to IdeaCoin on the promise of a monthly ROI of up to 45%.
- Invest $100 to $499 to get a daily ROI for 240 days
- Invest $500 to $999 to get a daily ROI plus 0.05% bonus daily ROI for 210 days
- Invest $1000 to $4999 to get a daily ROI plus 0.1% bonus daily ROI for 180 days
- Invest $5000 to $9999 to get a daily ROI plus 0.2% bonus daily ROI for 150 days
- Invest $10,000 to $49,999 to get a daily ROI plus 0.25% bonus daily ROI for 120 days
- Invest $50,000 to $99,999 to get a daily ROI plus 0.3% bonus daily ROI for 90 days
IDEA points obtained during the company’s ICO cannot be put towards lending.
Referral Commissions
Referral commissions are paid out by IdeaCoin pay through a unilevel compensation structure.
An affiliate is placed at the top of a unilevel team by a unilevel compensation structure places. Every personally recruited affiliate is placed directly under them (level 1).
When any level 1 affiliate recruits new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
When any level 2 affiliate recruits new affiliates, they are placed on level 3 and so on down a theoretical infinite number of levels.
IdeaCoin disburse investment and lending ROI referral commissions down 7 levels of unilevel team recruitment:
- level 1 (personally recruited affiliates) : 8%
- level 2 : 3%
- level 3 : 2%
- levels 4 to 6 : 1%
- level 7 : 0.5%
Residual Commissions
Residual commissions are paid by IdeaCoin through a binary compensation structure.
An affiliate at the top of a binary team by a binary compensation structure, divided into 2 sides (left and right).
The 1st level of the binary team houses 2 positions. The 2nd level of the binary team is created by dividing these first 2 positions into another 2 positions each (4 positions).
Following levels of the binary team are created as required, with each new level holding twice as many positions as the previous level.
The positions in the binary team are filled through direct and indirect affiliate recruitment. There is no limit to how deep a binary team can grow.
IdeaCoin tally up new investment volume on both sides of the binary team at the end of each day.
A “cycle” is created for each $2500 matched on both sides of the binary team.
IdeaCoin gives out a $100 commission per binary cycle generated.
The affiliates are able to earn up to 4 binary cycles every 24 hours ($400).
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IdeaCoin Membership
The affiliate membership is free. However, free affiliates can only earn referral commissions.
To fully participate in the IdeaCoin MLM opportunity needs a minimum $100 investment in IDEA points.
Summing Up
IdeaCoin assert to produce ROI revenue through “IdeaBot”.
IdeaBot is stated as a “self-acting (AI managed) profitable trading system which works 24/7”.
There is no evidence of IdeaBot existing or IdeaCoin making use of revenue created through the trading bot to pay affiliates.
In the IdeaCoin whitepaper, the company’s owners claim they were also trading on signals investing in different funds, ICO. They stated they lost a lot of money too.
This infers that the owners of IdeaCoin are now creating profit via IdeaBot.
This arises the question why then are IdeaCoin seeking investment from randoms over the internet.
If IdeaBot is already up and running and creating enough profit to sustain an investment scheme, why share created revenue with the public?
The only verifiable source of revenue entering IdeaCoin is newly invested funds.
The use of newly invested funds to pay existing affiliates a monthly ROI makes IdeaCoin a Ponzi scheme.
Lending ICO Ponzis like IdeaCoin play out as follows:
Anonymous Admins offload valueless pre-generated points in exchange for real money. In this case it’s IDEA points.
The admins then make use of some of this money to pay promised ROIs for as long as new affiliates sign up.
Once affiliate recruitment slumps down, so does the ROI reserve.
When a set threshold is reached, the anonymous admins of IdeaCoin pull a runner with what’s left.
Early investors of IdeaCoin make a bit of money (mostly through recruitment of new investors). But like any other Ponzi scheme, the reality of such scams is that most of the participants eventually lose money.
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