As a cryptocurrency education and training platform, ICoinPro does not appear to be a scam.
The interesting part of ICoinPro is the mlm opportunity.
This company uses the multilevel network marketing model to promote and sell its products.
When you wonder, is ICoinPro a scam? I know you are interested in the mlm business opportunity.
We want to know if we can achieve financial freedom promoting the ICoinPro training platform?
So, in this is ICoinPro review, I am going to share with you facts and financial information to help you decide if ICoinPro a good home-based business opportunity.
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ICoinPro Review Summary
ICoinPro Review and Analysis:
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What Is ICoinPro?
ICoinPro is an online platform that teaches people everything about cryptocurrency.
The company was launched in 2017 by Paul De Sousa and Justin Clark. The company uses multilevel network marketing (MLM) to promote its training platform.
At the time of this ICoinPro review research, the company sales revenue is less than $1 million. It is a startup mlm.
As a young mlm company, ICoinPro provides little or no financial track record regarding its distributors’ income. The company hasn’t published an income disclosure statement (IDS).
I’ll discuss the importance of an IDS report later in this ICoinPro review.
I strongly recommend that you carefully evaluate and compare ICoinPro mlm with other home-based business opportunities before joining.
You can use My #1 Business Opportunity to make a comparison.
How To Join ICoinPro?
You can join ICoinPro through a sponsor or by visiting the company website to request for a sponsor.
You can complete the application to become ICoinPro Distributor online.
First, you have to register and pay the membership fee.
Second, you have to pay another fee to become a distributor.
I’ll discuss the total investment required in the following sections of this ICoinPro review.
How Much Does It Cost to Join ICoinPro?
You have to be an ICoinPro member before you can register to become a distributor.
The fee to become an ICoinPro member is $99.95 per month.
You might have seen a few online articles reported a $39.95 monthly fee. This was an introductory fee when the program was first launched.
Once you are a member, you can register to become a distributor by paying a one-time $40 fee.
The total cost to join ICoinPro as a distributor is $139.95.
Besides the initial investment, you are required to continue paying the $99.95 per month to remain active and qualify for commissions.
The costs listed above are just to get your business up and running. You must also include your times, marketing materials, travel expenses, and gas in your monthly business budget to determine the total costs of operating an ICoinPro business.
One thing that I hate about mlm is the monthly membership fee. This is designed to convert you into a paying customer.
Why should you pay a membership fee to earn referral commissions?
With Affiliate Marketing Business, you earn commissions on every sale, no membership fee.
To understand why mlm opportunities require a monthly fee, you should read our discussion on MLM vs. Affiliate Marketing.
ICoinPro Compensation Plan Overview
ICoinPro offers a simple compensation plan. This doesn’t mean that it’s easy for you to make money.
You have two options to make money with ICoinPro: learn to trade cryptocurrencies for profits and/or recruiting people to join your ICoinPro team.
With the current cryptocurrency market, it is unlike you can make a living trading crypto.
If you are interested in making money with ICoinPro, I suggest you read the ICoinPro compensation plan review section below. To see the full version, just click on the link to download a copy.
Make Money Recruiting Others to Join ICoinPro
As a qualified ICoinPro distributor, you can sell ICoinPro membership to earn commissions.
The company offers you 4 options to earn:
Fast Start Bonuses
A Fast Start Bonus (FSB) is earned when a new member joins and pays the $99.95 fee.
Here’s how much you can earn:
- You earn a 50% ($50) commission on your personal recruits.
- You can potentially earn between 3% to 10% up to 5 levels.
The best commission is paid when you personally recruit people to join ICoinPro.
If you want to earn fast start bonuses on level 2 and above, you must achieve the 1 Star rank.
A 1 Start rank requires you to recruit 3 active members which means they all must pay the $99.95 membership fee for the month.
See the chart below for Fast Start Bonuses qualifications.
Fast Start Infinity Overrides
You do not earn fast start infinity overrides (FSIO) until you achieve 3 Star rank.
A 3 Star rank are distributors with at least 100 active members in their team.
Once you are qualified, you will earn another 3% in addition to the fast start bonuses up to an infinite level.
This means when a new member paid a $99.95 to join, instead of earning a $50 commission, you will earn $53 (50% FSB + 3% FSIO).
However, if you achieve 3 Start Elite rank, your commission is now $56 (50% + 3% + 3%)
Here is the breakdown of fast start infinity overrides.
The binary structure is used to determine commissions on the monthly payments, after the members’ first-month joining ICoinPro.
Binary structure means you must have at least two active members in your team, 1 on the right and 1 on the left.
The binary commission is calculated using the monthly sales volume of the weaker leg.
ICoinPro offers 8% to 16% of binary commission based on your rank.
However, the company puts a cap on the amount you can earn each month.
Refer to the table below to see commission rates and earning cap.
A matching bonus is a little complicated to understand. It’s designed to encourage you to recruit distributors, not customers.
You only earn matching bonuses when your personally recruited team members earned a binary commission.
Under the ICoinPro compensation plan, only qualified distributors are eligible for binary commissions.
Furthermore, the matching bonus rates are determined based on the number of people enrolled in your team, not based on ranks.
You can earn up to 6 levels of matching bonuses when you enrolled 3 or more active members.
The table below explains the commission rates and enrollment requirements to earn all matching bonuses.
I hope you can see that the ICoinPro compensation plan was designed to convert distributors into paying members.
As new distributors paying the monthly membership fee, the money is paid directly to uplines (sponsor) as commissions.
Can You Make Money with ICoinPro?
The best way to make money with ICoinPro is by recruiting others to join your team. This is the nature of the mlm business.
As discussed in the compensation section, your earning is directly derived from the monthly membership fees paid by your downlines.
I believe the top earners are people at the top with a large team.
Since ICoinPro doesn’t publish an Income Disclosure Statement (IDS). It is difficult to know the exact number of top Distributors in ICoinPro.
But you don’t need a copy of the IDS report to know that 99% of mlm distributors make little or no money.
Because mlm compensation plans are designed to convert distributors into paying members, not business owners.
ICoinPro distributors must pay the monthly membership fee to stay in business and receive commissions.
Is ICoinPro a Scam?
ICoinPro is not a scam. The company offers a business opportunity for people to make money from home.
The biggest risk of starting a business is losing your investments. With ICoinPro mlm, this risk is very high, and when people cannot make money, they call ICoinPro a scam.
You are responsible for researching, studying, and investigating ICoinPro before joining.
Many people join mlm because they are buying into marketing hype. This is not how you evaluate an mlm opportunity.
The right way to evaluate an mlm business opportunity is by reading ICoinPro reviews that analyze the risks and rewards of operating the ICoinPro home-based business. This is the best way to minimize the risks and increase the chance of making profits.
As the owner of an Online Business Review, I have evaluated hundreds of home-based business opportunities.
I can tell you based on our review that ICoinPro is not a scam. But it is unlikely that you can achieve financial freedom with the company compensation plan.
Is ICoinPro A Pyramid Scheme?
The best way to identify a pyramid scheme is by looking at the company’s compensation plan.
I must agree that ICoinPro is a pyramid scheme. The company’s compensation plan rewards distributors based on the number of people they recruited.
New distributors are less likely to make money because they don’t have a large team.
Sponsors (uplines) commissions are directly paid from downline monthly membership fees.
As the organization grows, it gets harder and harder for lower-level distributors to recruit and make money. Eventually, the pyramid scheme collapse.
Well, you don’t have to agree with me that ICoinPro is a pyramid scheme. But you can’t deny that the compensation plan is designed to convert you into a paying member, not to help you build a successful business.
Is ICoinPro Worth It?
After carefully studying and reviewing the ICoinPro mlm opportunity, I don’t see anything special or unique about ICoinPro.
This is just another mlm opportunity that uses hopes and dreams to make money for those at the top.
Let think about this,
Do you know why you want to start a business?
To make money, right?
And to make money, we invest in a PROFITABLE business!
There are much better and less risky home-based business opportunities compared to mlm opportunities.
I recommend you look at Affiliate Marketing.
As an affiliate marketer, there’s NO traveling around town to attend late-night meetings and NO face-to-face sales or recruits.
The best part, you are working on the computer in your own home or anywhere you like.
Affiliate marketing is one of the most powerful methods to promote and build your mlm team. I recommend you read, my New MLM Affiliate Marketing to learn how I did it.
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ICoinPro uses the mlm business opportunity to promote and sell memberships.
The business strategy is to recruit people as distributors, then require them to pay a membership fee to remain active and eligible for commissions.
The truth is, you should not have to pay a company a fee to promote and sell its products or services. It’s the company that must pay you.
Once you understand that mlm opportunity is used by the company founders and top executives to recruit customers, not business partners, then you will join ICoinPro.
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I hope my ICoinPro review answers your question, is ICoinPro a scam?
Until next time.
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