As you can see in the google trend chart below, there has been a lot of news around Xecoin lately.
This is why we made this Xecoin scam review!
- Risk:Very High!
As we always advice our readers…. to make sure you are joining a legit and stable company it is important to do a lot of research before joining. In our review we will provide you with information about Xecoin, their products and what we think of this program.
Actually, we have listed Xecoin within our High Risk and Scam section because it looks like they are running a Ponzi scheme. As soon as new members stop coming in they will most likely shut down or stop paying. If you want to take a look at our recommended online programs, then you can find those by clicking this link: http://www.networkmarketeer.com/category/recommended/
Xecoin scam Review – The Owners
After doing our standard research we could not find any information regarding who owns Xecoin/PowerOnNetwork. Although we came across a webinar that was created by Nigel Allen.In this webinar Nigel allen mentions that he is involved in Xecoin, but he does not tell us what his role is within the company.
When researching a company we always do a WHOIS check, all the websites that are connected to Xecoin are set to private. This is always a red flag, no transparency, we don’t know who the owner is and the domains are set to private.
So, who is Nigel Allen? Here is some history about Nigel:
- 2013, Nigel Allan launched co-founded a company called Brilliant Carbon back. Company disappeared)
- 2014, Nigel Allen was the co-founder and president of OneCoin (Still running, but he left or was fired.).
- 2015, Nigel allen became a Crypto888 distributor. (Website scammed)
- 2016, Nigel allen joined Octa partners (Relaunched version of Crypto888)
- 2016, a few months later… Nano club was launched (Relaunched version of Octa partners)
Now, we don’t know who runs Xecoin, but we are guessing that it is the same owner as Crypto888, Nano club and Octa partners.
Xecoin – The Products
The only way to earn money with Xecoin is by selling the affiliate membership and by promoting it.
Once you join the program, Xecoin members now can invest in XeCoins. These XeCoins are worth nothing outside of the program… They also have a power grid and the future power distribution as a external income source to boost the value of the coins.
Xecoin Compensation Plan
XeCoin Investment Costs
- PowerPlan 1 (€199 EUR) – 1000 XeCoins
- PowerPlan 2 (€599 EUR) – 3500 XeCoins
- PowerPlan 3 (€1099 EUR) – 8000 XeCoins
- PowerPlan 4 (€3099 EUR) – 26,000 XeCoins
- PowerPlan 5 (€5099 EUR) – 50,000 XeCoins
- PowerPlan 6 (€20,099 EUR) – 220,000 XeCoins
- PowerPlan 7 (€100,099 EUR) – not disclosed
Xecoin has the value set for XeCoins and can only be traded after 30 days.
If the affiliates don’t sell off their XeCoins, they can get a 5% to 12% bonus on their XeCoin Balance.
Again, XeCoins are not publicly traded on an exchange and Xecoin/Power On Network determines the exchange rate. 40% of all the Xecoin/Power On Network commission payouts must be used to invest back into new XeCoin packages.
Xecoin scam – Recruit/affiliate Commission Payout
When you sponsor someone in the program that invest in XeCoins, you will earn a commission.
These are paid through a unilevel compensation plan:
- Level 1 (Personally sponsored affiliates) – 5%
- Level 2 (Must have generated 6000 PV) – 3%
- Level 3 (Must have generated 10,000 PV) – 2%
PV stands for Personal Volume, which is sales volume generated by you and the members of your downline.
This is the PV you get when you buy any of the PowerPlan packages:
- PowerPlan 1 – 100 PV
- PowerPlan 2 – 350 PV
- PowerPlan 3 – 800 PV
- PowerPlan 4 – 2600 PV
- PowerPlan 5 – 5000 PV
- PowerPlan 6 – 40,000 PV
Xecoin/Power network have multiple other bonuses. Matching bonuses, network bonuses and others. We won’t get in detail about these since we don’t recommend this program!
Cost To Join Xecoin
The cost to join Xecoin/Power On Network varies between €200 to €100,000 EUR:
- PowerPlan 1 – €199 EUR
- PowerPlan 2 – €599 EUR
- PowerPlan 3 – €1099 EUR
- PowerPlan 4 – €3099 EUR
- PowerPlan 5 – €5099 EUR
- PowerPlan 6 – €20,099 EUR
- PowerPlan 7 – €100,099 EUR
The difference between these are the income potentials as the higher PowerPlans have a higher daily cap.
Xecoin Scam Review – Conclusion
When you join the XeCoin/Power On network, apparently you become your own power grid mostly because there is an agreement with the Exergonix company.
They state on their website that Exergonix is a business partner:
an unparalleled enterprise in the development of renewable energy projects around the world, strategically expanding its business with a diversified portfolio of technologies and business accruements in the “Green” market.
Hoe they are connected to Xecoin is not really clear.We are pretty sure that Xecoin is launched by Crypto888 all over again. They are selling Coins that are worthless outside of the program/company.
Right now, it looks like a ponzi scheme where the value of XeCoins comes from new affiliates that are investing in them. If they could prove some kind of external income to boost the value of Xecoins that would make it less risky. Although we still advise you to not invest in this company!
We receive over 20 emails daily from our subscribers asking us for a legitimate investment opportunity.
This is why we have 2 blogs where we monitor Revshares and HYIP with a lot of potential and long term sustainability. We are updating these blogs every month (or when necessary) to minimize your risks!
Revshare monitor:Best Revshares 2017
HYIP Monitor:Best HYIP 2017
I believe this should give you a nice overview about Xecoin.
Feel free to share your thoughts, questions or testimonial below!