There is no information on the YoCoin website indicating who owns or runs the business.
An address in Bangkok, Thailand is provided on the YoCoin website. Further research however reveals this address actually belongs to Regus, who sell virtual office space.
As such is appears YoCoin exists in Thailand in name only.
The YoCoin website domain (yocoin.org) was registered on the December 3rd 2015, however the domain registration is set to private.
At the time of publication, Alexa estimate that 30% of traffic to the YoCoin website originates out of India.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
YoCoin has no retailable products or services, with affiliates only able to market YoCoin affiliate membership itself.
Attached to the YoCoin MLM opportunity is the YoCoin cryptocurrency.
YoCoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online.
CoinMarketCap first listed YoCoin (YOC) back inJanuary, 2016. The YoCoin cryptocurrency appears to have precededthe launch of the YoCoin MLM opportunity.
YoCoin currently has a value of 0.00025 BTC (17 cents US).
The YoCoin compensation plan pays affiliates to recruit new YoCoin affiliates.
When a YoCoin afiliate invests, they start to receive YoCoins 30 days after their investment at a rate of 5% of coins invested in per week.
When a YoCoin affiliate recruits another affiliate who invests, they are paid 10% of the invested amount.
Residual recruitment commissions in YoCoin are paid out via a binary compensation structure.
A binary compensation structure places a YoCoin affiliate at the top of a binary team, split into two sides (left and right):
Subsequent levels of the binary team are generated as required, with each new level of the binary team housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of new YoCoin affiliates.
In order to qualify for binary commissions, a YoCoin affiliate must recruit two new affiliates.
Each week funds invested by affiliates on both sides of the binary team are tallied up.
YoCoin affiliates are paid 10% of funds invested on the weaker binary side.
How much a YoCoin affiliate can earn in binary commissions each week is capped based on how much theyve invested, as well as their personally recruited affiliates:
Note that only $2000 of an affiliates own investment can be counted towards the above qualification criteria. The rest must be sourced from recruited affiliates.
YoCoin affiliates are paid a 10% matching bonus on binary commissions earned by personally recruited affiliates.
YoCoin place 1% of company-wide invested funds into a Yo Club Benefits pool. This pool is divided between qualified Yo Club affiliates.
To qualify for the Yo Club, a YoCoin affiliate must generate $10,000 for that month on both sides of the binary team. Each month they must also recruit two new affiliates who have each invested $1000 or more.
The second Yo Club benefit is anadditional 10% match on binary commissions paid to personally recruited affiliates.
The Yo Club binary match is paid in YoCoins and only on recruited affiliates who do not qualify as Yo Club affiliatesthemselves.
Finally, Yo Club affiliates also receive residual binary matching commissions, paid out down an additional two levels of recruitment.
The Yo Club binary match is 10% on level 2 and 15% on level 3.
YoCoin charge a 10% withdrawal fee when affiliates convert virtual wallet commissions to actual money.
YoCoin affiliates must reinvest 30% of all commission payouts back into YoCoin.
Affiliate membership with YoCoin free. In order to earn MLM commissions however, either the affiliate or recruited affiliates must invest at least $50.
The more a YoCoin affiliate initially invests (up to $2000) the more they can earn through the YoCoin compensation plan.
The YoCoin concept is born out of the success of the pioneering cryptocurrency, Bitcoin.
Another MLM cryptocurrency riding on the coattails of bitcoin? Who would have guessed
YoCoin combines a pyramid scheme compensation plan with a pump and dump altcoin.
Basically the anonymous owners of YoCoin have been busy mining their cryptocurrency since January or so. Now the plan is to launch an MLM opportunity, through which affiliates buy these coins from them.
The hopeis that the MLM opportunity will generate artificial demand for YoCoin, which in turn means the owners of the company will turn a profit offloading the coins onto YoCoin affiliates.
Naturally purchasing yet another worthless altcoin isnt something that will happen organically, and so you have pyramid style commissions to incentivize YoCoin affiliate recruitment.
Theres no way around affiliates getting paid to recruit new affiliates in YoCoin being pyramid scheme in nature. Securities issues are also raised, with YoCoin affiliate fees quite obviously a speculative investment.
There is no mention of YoCoin having registered with the SEC or a securities regulator on their website. This would mean the YoCoin MLM offering is an unregistered security, whichis another problem.
If regulators dont shut down YoCoin, the cryptocurrency will experience a minor value increase corresponding with YoCoin launch hype and new affiliate recruitment.
YoCoins founders will dump coins on YoCoin affiliates and turn a profit.
With no genuine demand or use for YoCoin outside the MLM opportunity, once affiliate recruitment drops off the value will plummet.
Once again the scenario of affiliates in an MLM cryptocurrency being left with worthless altcoins will play out. YoCoins owners, having already made their money, will wash their hands of any responsibility and claimthe value of the coin is out of their control.
Theyre not wrong. Only with the MLM opportunity having collapsed theres now no demand for YoCoin only an abundant supply.
Meanwhile you as a YoCoin affiliate get to watch your YoCoin value approach zero. YoCoin affiliates who dont earn enough in recruitment commissions to cover their initial YoCoin investment, lose out.
Follow this link:
YoCoin Review: Pump and dump altcoin with recruitment
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