CoinXL Review

This review discusses a recently launched Cryptocurrency trading service called CoinXL. The reason why why  CoinXL comes across as a suspicious platform is as they are promising 150% returns in 150 days. That is an outstanding but ridiculous sum of money to earn in 150 days.

This site has links with a couple of other fraudulent sites called BitcoinXLPro and BitcoinXL. Both sites have nothing to do with each other. However, they all belong to exactly the same network of potentially harmful sites which are linked to CoinXL platform.

We have looked at Coin XL form all angles. Unfortunately, no information are available about this web site on the internet. This forced us to check it out on BitcoinTalk simply to see if individuals were discussing it (since this is the almost certainly place to discuss a phony site like Coin XL).

Even with going through the forum and threads therein, we were incapable of find any useful information regarding whether or not CoinXL is a scam.

What is CoinXL?

CoinXL is an on the web 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 as well as their patent pending algorithm bot trader for the past 2 yrs, and are actually prepared 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 be able to buy more at an improved price. Thus, the more Bitcoin they've to trade with in the marketplace, the more expensive the profit they are able to generate and tell 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 even more ways, for example cryptocurrency mining as well as Bitcoin arbitrage. For people who may not know, arbitrage is the practise of using an amount difference between two or more markets. Essentially CoinXL will buy Bitcoin at a specific price on one exchange and then immediately sell it on another exchange for an increased price.

CoinXL claims to execute real trades which are apparently completely transparent and listed on each members back office. Their returns average 1% per day, 7 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 problem is, Brad Cook was previously the CEO of NexxStars, another confirmed Ponzi scheme, which arrived on the scene in 2014 and subsequently collapsed before the entire year was out. Brad Cook also claims to have been associated with other individuals such as for instance Enliven, National Safety Associates, and Smart Travel, although we could not confirm this with any research on those companies. He also openly states that he was first introduced to MLM Marketing at the early age of 11 through his parents and has been involved in the niche since then. All this serves to ensure our suspicions of CoinXL being more of a Network or MLM Marketing (Pyramid scheme) than the usual valid Bitcoin investing opportunity.

Furthermore, the straightforward presence of a CoinXL compensation plan, as well as using freshly invested funds to cover existing members (due to lack of retail-able products) serves to prove that that 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 with a binary compensation structure.

A binary compensation structure as explained the following: “A binary plan is definitely 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 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 information regarding the master of the company. The business provides no insight in terms of how they're processing our funds https://scamrisk.com/coinxl/.

The whole system are certain to get collapse once the recruitment stops. One more point to remember that you won't get your earnings until 150 days that's close to 5 months.