CoinXL Review

This review discusses a recently launched Cryptocurrency trading service called CoinXL. The reason why  CoinXL results in as a suspicious platform is since they're promising 150% returns in 150 days. That is a superb but ridiculous amount of cash to earn in 150 days.

This web site has links with a couple of other fraudulent sites called BitcoinXLPro and BitcoinXL. The two sites have nothing to do with each other. However, each of them belong to exactly the same network of potentially harmful sites that are related to CoinXL platform.

We've looked at Coin XL form all angles. Unfortunately, no information can be found about this web site on the internet. This forced us to take a look on BitcoinTalk merely to see if everyone was discussing it (since this is actually the almost certainly place to discuss a phony site like Coin XL).

Despite going through the forum and threads therein, we were not able to find any useful information regarding whether CoinXL is really a scam.

What is CoinXL?

CoinXL is an on the web service that claims to be the very first completely transparent Bitcoin trading platform in the marketplace. CoinXL‘s supposed team of expert cryptocurrency traders say they've been quietly building their infrastructure in addition to their patent pending algorithm bot trader for yesteryear couple of years, and are actually willing to bring it to the overall public.

CoinXL pools its members'Bitcoin collectively as a group. This then gives CoinXL's traders more liquidity to influence the market. By pooling their resources, they claim to manage to buy more at a much better price. Thus, the more Bitcoin they've to trade with on the market, the more expensive the profit they could generate and share with members on a regular basis.

In line with the presentation video on among their many websites, CoinXL has so called ‘proven wealth building systems'that assist your portfolio grow in much more ways, for instance cryptocurrency mining in addition to Bitcoin arbitrage. For those who may not know, arbitrage is the practise of taking advantage of a cost difference between several markets. Essentially CoinXL will buy Bitcoin at a specific price using one exchange and then immediately sell it on another exchange for a greater price.

CoinXL claims to execute real trades that are apparently completely transparent and listed on each members back office. Their returns average 1% each day, seven days a week.

CoinXL Ponzi Scheme

Because it stands, there a couple of indicators which point CoinxL in the direction of a Ponzi scheme. First is the involvement of a person by the name of Brad Cook. Mr. Cook is visible on CoinXL's Facebook page and is known as being area of the CoinXL leadership in other marketing avenues. The thing is, Brad Cook once was the CEO of NexxStars, another confirmed Ponzi scheme, which came out in 2014 and subsequently collapsed before the season was out. Brad Cook also claims to own been involved with other companies such as for example Enliven, National Safety Associates, and Smart Travel, although we will not confirm this with any research on those companies. He also openly states he was initially introduced to MLM Marketing at the young age of 11 through his parents and has been mixed up in niche since then. All this serves to verify our suspicions of CoinXL being more of a Network or MLM Marketing (Pyramid scheme) when compared to a valid Bitcoin investing opportunity.

Furthermore, the easy presence of a CoinXL compensation plan, in addition to using freshly invested funds to pay existing members (due to insufficient retail-able products) serves to prove that that is indeed a Ponzi/Pyramid scheme. The Compensation plan works in the shape of earning referral commissions on funds invested by recruited members/marketers and is paid via a binary compensation structure.

A binary compensation structure as explained the following: “A binary plan is definitely an organizational structure used in multi-level marketing (MLM) organizations. In this structure, new members are introduced into a Binary Tree where each “node” or new member of the business features a left and right sub-tree.”

The percentage pay-outs are listed as ‘Binary Bonus'in the CoinXL plans we mentioned earlier.

Conclusion

The CoinXL doesn't disclose any details about the owner of the company. The business provides no insight for how they're processing our funds Source Link.

The whole system will get collapse once the recruitment stops. Yet another point to keep in mind that you won't get your earnings until 150 days that is near to 5 months.