ICoinPro Review: Is ICoinPro A Scam?
Price to join: $39 per month, $229 per 6 months, $449 for a full year
Overview: If you're reading this you're probably considering whether or not to join ICoinPro and want to know if it's a scam.
I don't know if I'd call this company a scam but I would STAY AWAY from joining. ICoinPro is a MLM which only have a 1% success rate and you're more than likely just going to lose your money.
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What Is ICoinPro?
ICoinPro is different than most MLM's and internet marketing companies that I review. Instead of offering a product, they offer training and information resources.
ICoinPro focuses on cryptocurrency and teaching people how to invest properly.
Here's a video where the founder describes the company:
I personally don't really have an opinion on Bitcoin or cryptocurrency's. If I had to guess Bitcoin has more than likely peaked and you'd probably want to invest in new crypto's.
But I'm sure the crypto world is very complicated and it can be hard to pick winners from losers.
So if you really want to enter the world of crypto currency this may be a product you want to think about - just don't try and sell the product.
There's many pitfalls to joining a MLM and I'm going to focus on them in the next section.
Is ICoinPro A Pyramid Scheme?
ICoinPro uses the MLM or Mulit-Level Marketing system to sell its products. The problem with MLM's is most people consider them to be a pyramid scheme.
This is what the business model of MLM's look like:
Looks an awful lot like a pyramid, right?
There's a reason for this. Most MLM's allow you to make money when you sell a product (you get a commission or you have to buy products up front for a discount and you can sell them later for retail price).
BUT that's not how most people make their money with MLM's.
You also get rewarded for recruiting people to sell and you get a commission for everyone you recruit that makes a sales - this is called building a downline.
So are you going to spend your time selling a product for commissions or are you going to try and recruit 20 people to sell and get commissions off their sales - obviously the latter because it's much more profitable.
Because of this the money always flows to the top and only the people at the top of the pyramid will make any money.
And that's why the following happens..
MLM's Only Have A 1% Success Rate
This is on purpose too.
Companies could easily come up with a system that rewards everyone equally and have a success rate that's higher.
It's more profitable for them to have a 1% success rate, though.
The 1% that do make money end up making a lot of it - people at the tippy top of well known MLM's may make millions.
A lot of times you'll see the top sellers bounce around from company to company because of this. If a company can attract a high seller into their marketing scheme they'll profit more.
Is a superstar MLM'er going to join the business where commissions are more spread out and they only have a chance to make $100,000 or are they going to join a structure where profits stay on the top and they make a $1,000,000?
Obviously the second.
If you find yourself at the bottom of the pyramid it's almost impossible to make any money. The pool of people to recruit is almost dried up and a lot of your commissions go upwards.
I always advice people to stay away from MLM's but not everyone listens. So if you are going to join a MLM make sure you get in early and try to get in at the top of the pyramid.
How Much To Join ICoinPro
There's another thing that I don't like about ICoinPro - you have to pay money just to sell their product.
This really doesn't make sense because their services are all digital.
Most MLM's sell physical products like natural foods or health items and because of this you actually have to buy the product. You get a discount but you still need to actually possess the product to sell it.
This shouldn't be the case with a digital product. You shouldn't have to pay monthly and an activation fee to recommend a digital product to people.
There's only one reason ICoinPro would do this and it has to do with the last section - only 1% of people make money with MLM's.
The creator of ICoinPro knows this and knows if he doesn't charge people to sell this product, he won't make any money.
Here's the cost to join:
- $39 per month
- $229 per 6 months
- $49 per year
Let's say 20,000 people are trying to sell this product, that's potentially $780,000 profit for ICoinPro PER MONTH.
Odds are only 200 of those 20,000 will make money but that doesn't matter to the people at ICoinPro.
They are not going to leave multiple millions on the table even if it makes no sense to force people to sign up for a monthly membership to sell a digital product.
How Much Can You Make With ICoinPro
Statistically speaking you'll lose money.
But let's say you're one of the few people that are successful and want to know what the compensation plan looks like.
Before I explain it keep in mind one thing: MLM's almost always have extremely complicated commission structures. Some are 50 pages long and use very technical terms.
They can be very difficult to decode.
To sum it up there are the two main ways you make money with MLM's and ICoinPro;
1) You get a commission when you actually sell a product
2) You get a commission when people you recruit sell a product
Here's how everything works.
The first way you make money is by getting a commission every time you refer someone to ICoinPro's service's. For every $99 someone pays to ICoinPro you get $50 of that.
Next you earn money by recruiting people to sell under you. The more people you recruit, the higher the compensations you get.
Here's a look at how this pays:
There's more minor details to the compensation plan and if you want to learn everything, watch the video below:
Who Are You Going To Sell ICoinPro To?
There's one last thing I want to mention before wrapping up this review: you might be pressured to sell to your friends and family.
Remember most people that make serious money from MLM's do so by recruiting people and earning commissions off those sales.
The people who join MLM's care about one thing: Money. They don't really care about the services or products they're selling.
They're looking to build that downline as fast as they can and make the most they can.
The person who recruits you is going to pressure you to sell as much as possible and that includes selling to friends and family.
I'm sure you've heard stories or maybe have been approached by someone before trying to sell you different products from MLM's.
So you have to ask yourself what's more important - money or close relationships?
What I Like About ICoinPro
There's really not much I like here.
Here's a few things, though:
1) It's relatively new: MLM's tend to stay hot for about two years - after that the market gets pretty saturated. This is a pretty new company so there's still a chance to get in at the top.
2) Crypto is a hot topic: The rise of Bitcoin certainly has made crypto a popular topic. So at least if you join this company you'll have a service that most people are at least interested in.
What I Don't Like About ICoinPro
There's more that I DON'T like than I do.
Here's the things I don't like:
1) 1% success rate: MLM's are almost impossible to succeed with and only 1% make money. That's extremely low and should be enough to deter you away.
2) Costly to join: It's weird to me that you'd have to pay monthly for a digital service to sell it but you have to. It's not cheap either and will cost you hundreds.
3) You'll have to sell to friends and family: Eventually you may get good enough where you can recruit people but in the beginning you'll probably have to sell and make money from friends and family.
4) Many people consider crypto to be a scam: I'm not an expert on Bitcoin or crypto but many people I trust call it a scam and pump and dump scheme.
Here's A Better Way To Make Money
Hopefully by now I've talked you out of joining ICoinPro and MLM's in general.
Affiliate marketing is a much better way to make money online - no expensive costs to join, no selling to friends and family, and everything is done online.
If that sounds attractive to you, you should consider Wealth Affiliate. Wealthy Affiliate is the single best place to learn how to make money online - you get all the training and tools to help you succeed. Plus you get a community of 1 million people to help you out.
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Want To Make Real Money Online?
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