Table of Contents
More about PlatinCoin
To the best of my knowledge, Platin Coin‘s website remains silent on the subject of its ownership and management team.
On July 4th, 2016, the domain name “platincoin.com” was purchased for the Platin Coin website. The owner, PLC Group AG, is mentioned with their Swiss location in Zug.
PlatinCoin may only exist on paper in Switzerland since further investigation indicates that the listed address belongs to Regus.
Affiliates of PlatinCoin have been promoting the firm by introducing Alex Reinhardt as the chief executive officer. It’s unclear why this data is missing from the PlatinCoin website.
German-based Reinhardt (on the right) had been actively pushing SwissCoin until very recently.
It would seem that Reinhardt was the leader of “Team Germany” for SwissCoin, and his standing within the network of affiliates was rather high.
Launched in the middle of last year, SwissCoin is a Ponzi points cryptocurrency. Scammers at the helm of the organization turned on one other early this year after receiving warnings from regulators in Germany, Switzerland, and Nigeria.
Merchandise from PlatinCoin
Affiliates may only promote PlatinCoin affiliate membership itself; PlatinCoin has no retailable items or services.
Affiliates of PlatinCoin have the use of the Platin Coin Network, Platin Coin Market, and an “online platform with training information” thanks to their membership.
The PlatinCoin (PLC) Network is the company’s internal social network. It’s possible to do business online using PLC Market.
None of these initiatives seems to have begun operations as of this writing.
After the filing of legal proceedings in Switzerland, Alexa data revealed the firm had begun to decrease.
This is probably what pushed Alex Reinhardt to leave SwissCoin and start his own firm.
Keep reading for a detailed analysis of the Platin Coin multi-level marketing scheme.
PlatinCoin’s Benefits Program
Affiliates of PlatinCoin put in anywhere from €5 to €10,000 in Platin Coins with the expectation of a return.
PlatinCoins are a kind of distributed point system issued by Platin Coin and initially valued at €0.10 EUR.
Only via PlatinCoin’s internal exchange, Turbo Button PLC, may Platin Coins be bought, sold, and changed into fiat currency.
Starting on May 11th, 2017, PlatinCoin will be completely autonomous in determining its increasing value.
End-of-the-Month Commissions
There is just one level of reward in the Platin Coin affiliate program, and it pays out a residual commission on affiliate investments.
Under a uni-level pay plan, an affiliate is at the top of a team and each person they recruit is at the same level as them.
If an affiliate on level 1 recruits another affiliate, the new affiliate will join the original affiliate’s uni-level team on level 2.
Affiliates on level 2 who bring in new members are promoted to level 3, and so on, perhaps indefinitely.
PlatinCoin limits the number of uni-level levels at which commissions may be earned to eleven. Commissions are paid as a proportion of the initial investment made by affiliates in the uni-level team.
The affiliate’s investment level determines the number of tiers on which they may earn PlatinCoins.
Spend 5 Euro and get 10% back on the first tier (personally recruited affiliates)
For a €50 investment, you will earn 10% on level 1 and 4% on level 2; for €250, you will earn 10% on level 1, 4% on level 2, and 5% on level 3.
You may earn 10% on level 1, 4% on level 2, 5% on level 3, and 6% on level 4 on a €500 EUR investment.
When you put in €1000 EUR, you’ll earn 10% on level 1; €5000 EUR will earn you 10% on level 1; €10,000 EUR will earn you 4% on level 2; €20,000 EUR will earn you 5% on level 3; €50,000 EUR will earn you 7% on level 5, and €100,000 EUR will earn you 1% on levels 6 and 7.
You may earn 10% on the first level, 4% on the second, 5% on the third, 6% on the fourth, 7% on the fifth, and 1% on the sixth through eleventh levels if you spend €10,000 EUR.
Extra Credit for Your Rank
Affiliates that bring in a lot of money for their downlines are rewarded with a monetary Rank Achievement Bonus in PlatinCoin.
Diamond: Get one thousand Euros in investments from your downline (no bonus)
At the Pearl level, you’ll earn €100 EUR if you bring in €5,000 EUR in downline investment and personally sign up at least one affiliate at the Jade level.
Sapphire: Invest €10,000 EUR in your downline and directly recruit at least two Jade-level affiliates to earn €200 EUR.
Get €500 in compensation once your downline invests €10,000 and you personally acquire at least two affiliates at the Pearl level (Ruby).
Emerald: Recruit at least one Affiliate at the Sapphire level or above and bring in €50,000 in downline investment to earn €1,000.
If you bring in €100,000 in downline investment and sign up at least two Sapphire-level affiliates, you’ll be eligible for the €2,000 Diamond bonus.
The Blue Diamond level requires $250,000 in downline investment and the recruitment of at least one Diamond affiliate, after which the affiliate is eligible for a €5,000 bonus.
Green Diamond: Attain €500,000 in downline investment and individually sign up two Diamond affiliates to earn €10,000.
Purple Diamond: Recruit at least three Diamond-level affiliates and bring in €1,000,000 in downline investment to earn €20,000.
Get €100,000 if you bring in €5,000,000 in downline investment and personally sign up at least five affiliates at the Diamond level.
Black Diamond: Recruit at least ten Diamond-level affiliates and bring in €10,000,000 in downline investment to earn €200,000.
Those who achieve the Platin Diamond level are required to bring in €20,000,000 EUR in downline investment and individually recruit at least 20 Diamond ranking affiliates in order to be awarded €1,000,000 EUR.
Joining the PlatinCoin Network
Associate membership in Platin Coin involves a monetary contribution of €5 to €10,000.
Affiliates may earn more via the PlatinCoin compensation scheme the more money they put in.
Conclusion
Platin Coin is similar to OneCoin’s fraud in that it uses a Ponzi points business model as SwissCoin did.
The corporation says it is not selling coins, while plainly asking for funding from affiliates in return for tokens that are subsequently turned into Platin Coins.
Nevertheless, this is all a bunch of pseudo-compliance nonsense, and the official PlatinCoin compensation plans a few pages below reveal the company for what it really is:
Affiliates in a Ponzi points scheme fork over cash for essentially useless points.
PlatinCoin has value exclusively inside the Platin Coin multi-level marketing opportunity and is not tradable on any public exchanges. Platin Coin completely controls and manipulates that value artificially.
Platin Coin projects that the value of one Platin Coin will reach €10 by the end of 2018 in the official compensation plan paperwork provided to potential investors.
Indeed, the only source of money that can be attributed to PlatinCoin is “sales of business packages” (affiliate investment). The assurances made by the other options are just smoke and mirrors.
However, it’s still Ponzi fraud if even a fraction of the money that’s invested is used to pay back the original investors. Similar to SwissCoin and OneCoin, the Ponzi points model requires investors to put in the same amount of money they get as a Return.
Alex Reinhardt, a top affiliate in SwissCoin, probably earned a lot of money through referral fees (pyramid scheme fraud itself). It’s unknown how much of his SwissCoins Reinhardt was able to convert into real money, but it’s likely to have paled in contrast to the money he earned enticing others to invest.
It’s likely that when SwissCoin’s growth slowed in late 2016 and early 2017, Reinhardt recognized that his whole SwissCoin holdings were worthless coins he couldn’t withdraw.
Affiliate investment in a Ponzi scheme grinds to a halt when withdrawal requests for affiliate exchange are repeatedly denied for fictitious reasons (the real reason of course being they have no new funds to pay out with).
In a Ponzi scheme, the actual wealth is at the helm of the business. The owners put most of the money made by top affiliates like Reinhardt into hidden offshore bank accounts, but he still makes a decent living.
Surely Reinhardt is aware of this, and he created PlatinCoin in an effort to profit even more than he did with SwissCoin.
Bitcoin analogies are brought up again, this time including Reinhardt’s SwissCoin affiliates and maybe more.
Yet, most PlatinCoin investors will end up losing money since the cryptocurrency will eventually become worthless.
You may also like: IX Inversors and DIA reboot both struggle amidst growing restrictions.
