So glad you found my review of iCoinPro! I decided to look into it because it is being touted as a top multilevel marketing (mlm) company to join in 2021. I was intrigued because it deals with the cryptocurrency world, something fairly new.
I’ve mostly heard that Cryptocurrency is difficult to understand and you should be careful if deciding to try and make money from it.
Taking into consideration that mlm companies are supposed to be fairly simple to work with and make money from, how are these two things going to work together?
Let’s take a look at what I discovered…
Table of Contents
What Is iCoinPro
iCoinPro is a cryptocurrency training platform, that will teach the average person about the concept of cryptocurrency. It uses a mlm compensation structure to pay out its members.
It will show you how to buy, sell and store bitcoin (and other cryptocurrencies), in addition to presenting multiple streams of income in doing so.
Many people feel cryptocurrency is an investment vehicle for the ultra-wealthy, but iCoinPro was developed to bring it to the average investor.
It was founded by Paul De Sousa and Justin Clark in 2017. There isn’t a physical location, but they do work remotely from Texas.
What Are The iCoinPro Products
Because it is basically an educational format, the products are 3 different training modules that will teach you about trading in cryptocurrency.
The modules are:
- Core Training
- Advanced Training 1
- Advanced Training 2
The modules include the best tools available that allow for trading in the cryptocurrency market.
What is cryptocurrency
If you haven’t heard of the term cryptocurrency, I’m sure you’ve heard of Bitcoin, right? Well, Bitcoin is probably the most popular example of cryptocurrency. It is like digital money.
Cryptocurrency is digital money that can be used to buy online goods and services. Many companies create their own cryptocurrency, usually called tokens that can be traded for their provided online goods and services.
Real currency needs to be “exchanged” for the cryptocurrency to get the goods or services. That’s where the trading comes in. The trading is in the form of technology called blockchain.
Blockchain is a decentralized technology spread across many computers that manages and records transactions. Because of that, it is seen as a very secure trading platform.
Just looking at January of 2021, there are currently over 6700 different cryptocurrencies publicly traded, with a value of more than $897.3 billion. You can check the current price of Bitcoin here. One Bitcoin is worth around $46,000 at this time.
The future of digital money is cryptocurrency because it doesn’t rely on banks or institutions. There is nothing but upside if it does catch on. Some experts are saying that within ten years, one Bitcoin could be worth 1 million dollars.
Doesn’t that peak your interest a little bit about learning to trade cryptocurrency?
Let me get back to iCoinPro…
Cost To Join
There are 3 different ways you can join the fun:
- Monthly: $39.95/month
- 6 Month membership: $229.95 every 6 months
- 12 Month membership: $449.95 every 12 months
Those fees only give you access to the training courses and trading platform. There is an additional, one-time Distributor Activation fee of $39.95, if you want to be able to earn commissions.
What Is The Compensation Plan
They use a 2×14 unilevel pay structure for member payouts. There are actually 5 different ways to earn money with iCoinPro.
- The Powerline Bonus – This is a 3% commission earned when you sell monthly memeberships.
- The Fast Start Bonus – Depending on the rank you are at, you will earn additional bonus for those people you enroll.
- The Coded Bonus – Basically, this is where you’ll be able to earn off your team’s efforts
- The Residual Income Bonus – This is where the 2×14 payout starts to work for you. The higher you rank, the more you’ll make.
- The Matching Bonus – An additional payout based on what your referrals make
What Is The Earning Potential
Because it is an educational platform that will teach you how to make money in the cryptocurrency world, earning potential is high. The cryptocurrency industry is basically in it’s infancy, so growth can be expected.
In fact, iCoinPro claims you can earn nearly $4000 per month without recruiting one person. The education is what makes you money.
The mlm payout structure is a bonus to make you recruit more people, though you don’t have to.
So why aren’t people jumping onboard this money boat?
PROS & CONS
Pros:
- Fairly new company, so kind of a ground floor opportunity
- Lots of indepth training about cryptocurrency
- Lessons end with quizzes to make sure you thoroughly understand all concepts
- Definitely not a scam
Cons:
- Trading currency is high risk
- MLM payout structure that requires lots of recruits
- Monthly fee, paying to learn
- The monthly training and education can be found for free on the internet, so why pay
- No income disclosure statement available to verify member income
Final Thoughts
If you were worried about this being a scam, it’s not. iCoinPro is a legitimate company that will teach you the ins and outs of trading cryptocurrency. Being a fairly young company, I feel there is still an opportunity to make money with them.
The bottom line is that iCoinPro is a membership-based mlm company. The mlm part is the concerning part of that statement. You are paying a monthly fee to learn information that you could actually find for free on the internet. Then you have to try and convince others to do the same.
I hope I’ve given you enough information to make an informed decision about joining this company. Cryptocurrency is an emerging billion dollar industry that is worth looking into. It’s a high-risk adventure that you should research yourself, I’ve just given you a head start with that.
There are better and easier alternatives for making extra money.
A BETTER OPPORTUNITY
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Hi
It seems a little strange to me that someone is trying to sell cryptocurrency training as an MLM scheme and all they are really offering is training. There is so much information for free or at a very low cost in a few really good books on cryptocurrencies that I don’t see the attraction of signing up for a subscription training service. If I have trouble seeing the value in the product itself then I don’t see the value in trying to market it. Especially not as an MLM as you really have to believe in the product to be convincing enough to sell it.
I agree there is a chance that some of the main cryptocurrencies including Bitcoin are likely to continue climbing in value since large institutions are slowing buying in so demand is likely to continue growing. Until it no longer does that is. But that is the same with all assets.
I took a small position in Bitcoin and another in Ether about a year and a half ago now. The Ether has gone up about 7 times and the Bitcoin about 9 times. I think I will sit on them for a while and watch.
Thanks for this
Best regards
Andy
I found it strange that “training” is their mlm product, as well. That’s why I wanted to look further into it, and found out, it’s the training you’re buying into. Most of their information can be found for free on the internet anyway. As I have found, with MLM’s you have to truly love the product to be able to have success, so I would think it would be difficult to recruit others to pay for training they can ultimately get for free. Also, kudos to you for already having a piece of that crypto pie and I hope it continues to grow exponentially for you!
Hi Yvette,
I find the talk about cryptocurrency very fascinating but it also fills me with apprehension since this is not only an expensive venture, but also a very high risk one. My husband is the high risk taker, but he wasn’t enamored with the iCoin MLM either because of the cons you discussed in the article- recurring monthly fee, lack of an income disclosure statement and many recruits. Your other option (WA) definitely appears to be less risky and I will be following it up.
Thanks
Ceci
Yes, it’s a bit too risky for me as well. I have a hard time dealing with the concept of digital money! Also, I do question a company not willing to disclose member incomes, as other mlm’s do. Lastly, I don’t consider myself lucky so I need something a little less volatile! Thank you!
Hi Yvette,
loved this article. I am not up to date with all the cryptocurrency stuff so this was a massive reminder of how it all works.
icoinpro definitely sounds legit and your review covered it really well. I have to admit that whole bitcoin space does scare me. And wow $46,000 for one bitcoin! That is huge. Wish I had of bought some 10 years ago!
You have definitely peaked my interest in this whole field so will definitely consider this company.
Thanks so much,
Kev
Yes, the money seems incredible, but it’s highly volatile and crypto is still somewhat speculative at this point. It’s a legit opportunity that fortunately includes training, so I think it’s definitely worth a look at.
Thanks so much for this review. I wanted to get into the crypto business world, but there are so many opportunities going around, one is not sure which are legit ones.
The one thing that I like about Icoinpro is that they provide you with training. And that to me is valuable. I understand that there is a lot of free info around, but if the training is comprehensive, updated, then it’s worth it.At least, I do not have to go out and serach for the info.
I personally am not a fan of recruiting and would probably go for your nr.1 recommendation.
Thanks so much for the help.
Regards
Roopesh
Yes, that’s a good way to look at the training…it’s all in one place. Plus it does seem they are there for you to make sure you thoroughly understand everything.
Crypto nowadays seems to attract many MLMs with promises of big returns but the thing here is, that nobody, even Warren Buffet can predict this sort of outcome.
I see you valued Bitcoin around $43k, I think that is as high as its peaked but lost around $10k in value in less than 18 hours.
That just goes to show how volatile crypto is and these MLMs can only promise returns when crypto (Bitcoin) is on its way up.
Big investors are in it for the short term and when they dump their investment, Bitcoin drops through the floor and the affiliates in these MLMs don’t get paid with all sorts of excuses.
The way to stay afloat is to dip into their Bitcoin reserves with the hopes that Bitcoin will be back on the rise.
They, however, will pay affiliates who have large downlines and push the ones who don’t to the side,
That’s how these scumbags operate.
Thank you for sharing and exposing this type of business.
You are absolutely right about the volatility of the cyrptocurrency. That’s why I would be wary of dealing with something like this. Just as you say, the big guys will have the opportunity to get in and out quick enough to make their money and leave the little guy wondering what happened. Best regards!