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MFSA Warning – OneCoin

 

Fake Cryptocurrency

 

Cryptocurrency is the future of finance, and there are many potential options available in the market. Onecoin is among these options and following we are going to review it.

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We hope we clear some misunderstandings along the way. So, kindly stick with us!

 

About Onecoin.eu

 

OneCoin uses MLM to promote its products. This suggests you can buy the educational content from the company and use the tokens for mining crypto-currency.  It is a digital currency which is based on blockchain technology, but it offers several financial services on the official website.

 

What it Offers?

 

OneCoin has inspired its Portfolio from OneAcademy Online Education. It offers different packages. Clients can invest in tokens. Following we are going to describe the available plans:

Starter: 100 Euros

Trader: 500 Euros

Pro-Trader- 1000 Euros

Executive Trader: 3000 Euros

Tycoon Trader: 5000 Euros

It also offers a compensation plan and a two-year loyalty program.

 

Issues

 

At first, it all sounds convincing. But soon after you do some research, you found some unnerving facts about the company. Following, we shall discuss what we found during our research!

 

  • Warnings Issued by FCA

 

The Financial Conduct Authority of the United Kingdom, FCA is among the most respect financial authorities around the world. It has released several warnings against OneCoin.eu and has advised people against using it. However, it doesn’t offer concrete evidence.

 

  • Negative Reviews

 

There is a user outcry all over the internet. It seems the company has scammed all of their clients, and they want their voice to be heard. The authorities warned against using OneCoin; we hope they will take more severe action against this company.

 

  • Ponzi Scheme

 

The OneCoin.eu is titled as a Ponzi Scheme. We are surprised to learn that a cryptocurrency can be labeled as a Ponzi Scheme. The issue is, Bitcoin is earning through hard and long mining. The current difficulty and algorithm play a big role.

This is no case with OneCoin as you can freely buy them from the company. The website doesn’t explain where these coins come from or how they work!

 

Conclusion

 

After everything, we have said, it’s out in the open that OneCoin.eu is a fraud, and you better stay away from it. Yes, we understand this isn’t a trading platform. Instead, it is a cryptocurrency. Unfortunately, this currency has no potential. But, all we got was a disappointment.

So, we will suggest you stay away from it!

 

 

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Post Author: ScamRecovery

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