CoinXL Review

This review discusses a recently launched Cryptocurrency trading service called CoinXL. The main reason why  CoinXL results in as a suspicious platform is because they are promising 150% returns in 150 days. That's a superb but ridiculous sum of money to earn in 150 days.

This website has links with a few other fraudulent sites called BitcoinXLPro and BitcoinXL. The two sites have nothing regarding each other. However, each of them belong to the exact same network of potentially harmful sites that are linked to CoinXL platform.

We have looked over Coin XL form all angles. Unfortunately, no information are available about this site on the internet. This forced us to take a look on BitcoinTalk merely to see if individuals were discussing it (since this is actually the probably place to go over a phony site like Coin XL).

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

What is CoinXL?

CoinXL is an on line service that claims to be the initial completely transparent Bitcoin trading platform in the marketplace. CoinXL‘s supposed team of expert cryptocurrency traders say they've been quietly building their infrastructure along with their patent pending algorithm bot trader for the past couple of years, and are actually willing to bring it to the general 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 have the ability to buy more at a much better price. Thus, the more Bitcoin they've to trade with on the market, the larger the profit they could generate and give members on a daily basis.

Based on the presentation video on among their many websites, CoinXL has so called ‘proven wealth building systems'that assist your portfolio grow in even more ways, like cryptocurrency mining along with Bitcoin arbitrage. For those who might not know, arbitrage could be the practise of benefiting from an amount difference between several markets. Essentially CoinXL will buy Bitcoin at a particular price using one exchange and then immediately sell it on another exchange for a higher price.

CoinXL claims to execute real trades that are apparently completely transparent and listed on each members back office. Their returns average 1% per day, 7 days a week.

CoinXL Ponzi Scheme

Since it stands, there several indicators which point CoinxL in the direction of a Ponzi scheme. First could be the involvement of a man by the name of Brad Cook. Mr. Cook is seen on CoinXL's Facebook page and is called being the main CoinXL leadership in other marketing avenues. The issue is, Brad Cook was once the CEO of NexxStars, another confirmed Ponzi scheme, which arrived in 2014 and subsequently collapsed before the year was out. Brad Cook also claims to have been a part of others such as for example Enliven, National Safety Associates, and Smart Travel, although we could not confirm this with any research on those companies. He also openly states he was first introduced to MLM Marketing at the early age of 11 through his parents and has been active in the niche since then. All of this serves to verify our suspicions of CoinXL being more of a Network or MLM Marketing (Pyramid scheme) than a valid Bitcoin investing opportunity.

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

A binary compensation structure as explained as follows: “A binary plan is an organizational structure found in multi-level marketing (MLM) organizations. In this structure, new members are introduced into a Binary Tree where each “node” or new person in the organization includes 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 does not disclose any information regarding the owner of the company. The organization provides no insight in terms of how they're processing our funds.

The whole system can get collapse once the recruitment stops. An additional point to remember that you won't get your earnings until 150 days that's next to 5 months.