Is iCoinPro a Scam? What’s the Truth About This Crypto Scheme?
Is iCoinPro a scam or a worthwhile cryptocurrency scheme? That’s a question many people have been asking online and I wanted to take a look at this platform for myself. There are loads of cryptocurrency schemes doing the rounds, but will this one make you money or not?
Let’s take a closer look at iCoinPro and uncover the truth…
Company Name: iCoinPro
Owners: Paul De Sousa & Justin Clark
Price To Join: $39.95/Month To Start
My Rating: 4/10
~ iCoinPro Reviews ~
Intro
First of all, congrats on finding your way here to my review. It proves you are smart, because you’ll do your research on something before joining it. That’s wise, and makes you far less vulnerable to the scammers online.
In so many ways the internet has opened many doors of opportunity. Never before have we been able to have all these options of making money from the comfort of home in our own time. The internet never sleeps, so we can technically make money non-stop all year round.
An obvious downside is the fact that many con artists also realise just how many people are looking to cyberspace for ways to make extra cash, and they invent schemes designed to do nothing else than tell people what they want to hear so they’ll hand their money over. We always have to remain aware of this.
One of the reasons I created my website is to help others find genuine and profitable ways to make money on the internet. That’s why so much space is devoted to reviews of training programs and make money online (MMO) schemes. It helps us to make the right choices and avoid the scams.
I kept seeing people asking questions about iCoinPro online and it got me really curious. I thought I’d do some digging and research and write up a review on what I discovered about it.
Let’s now see if iCoinPro is any good, or whether you should give this one a miss.
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What Is iCoinPro About?
iCoinPro launched in 2017 and is actually a combination cryptocurrency scheme attached to a MLM style of compensation, meaning a multi level structure is used to pay its members.
An entrepreneur named Paul De Sousa created the site and the scheme, while all training is conducted by his partner, Justin Clark. While the website doesn’t give all that much away about these guys, according to them they are highly experienced marketers who have a love for cryptocurrencies.
Another really interesting thing about the iCoinPro setup is there is no physical location for this business. Everyone who directly works for iCoinPro does so remotely.
This is a pretty common thing online these days, where the entire world is readily connected in real time by the internet.
This company has hopped on board the gravy train of Bitcoin and other cryptos because of their popularity. Most of the platform is geared towards training you in all things cryptocurrency and how to make money in various ways in the digital currency market.
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How iCoinPro Works
As I said, this is really all about training on the one hand, but there is another major element attached to this scheme, and it’s this element that really makes you money when you join up with iCoinPro.
It’s all about recruiting and selling the same training packages to others that you just bought into yourself.
You see, the training is really acting as the product so iCoinPro can run a MLM scheme. Without some sort of product it would just be a naked pyramid scheme, which are illegal because they rely solely on recruitment and new investors to survive.
There are different membership levels you can buy into, and there are also different training packages. The training claims to teach you all you need to know about cryptocurrencies, what they are, how blockchains work, how to mine them and invest, trading Bitcoin and so on.
iCoinPro also has its very own trading platform, so trading cryptocurrencies is also a part of this scheme.
If you want to learn how to successfully trade the currency (Forex) markets, including cryptocurrencies, then check out my review of Traders Academy Club.
Let’s Look At the Training?
As I said before, they’ve included training in an attempt to try and legitimise their MLM scheme. That’s not to say there’s no value in the training, and we’ll see what’s on offer now.
There are 3 training levels:
- Core Training
- Advanced Training 1
- Advanced Training 2
Core Training
There are a total of 12 lessons that make up the Core Training module. It covers all of the basics so members have a good understanding of cryptocurrencies and be better equipped to handle the advanced lessons.
Some things you’ll learn include:
- Introduction to currencies and cryptocurrencies
- How Bitcoin works
- Bitcoin Wallets
- Blockchains
- Cryptocurrency mining
- How to make money
- Cryptocurrency exchanges
- And more…
Advanced Training 1 and 2
As I said, in order to fully comprehend what’s included in these two advanced modules, you really need to go through the core training first (unless you already have experience).
In Advanced Training 1 you’ll learn:
- Mining
- Blockchain technologies
- Ethereum
- Investing
- Lending
- Staking
- And more…
In Advanced Training 2 you’ll cover:
- Bitcoin
- Ripple
- Litecoin
- Monero
- Dogecoin
- And many other popular cryptocurrencies
After each lesson you’ll get to do a short quiz. This ensures you fully understand what you’ve learned before moving on to the next lesson.
The iCoinPro Trading Platform – The MicroProfit System
This is their very own platform for trading the markets. Technically you’re paying a membership fee to use the trading software, whereas in my Forex trading experience, these platforms are always free no matter which trading broker you decide to trade with.
Anyway, let’s see what it offers members:
- Sign up with a cryptocurrency exchange
- Deposit Bitcoin into your trading account
- Trading charts
- Trading indicators
- Learn buying/selling signals
- Profit calculator
- Profit and loss tracking tool
The training will teach you how to use the platform. It might look very confusing at first to the inexperienced, but you’ll soon get a good grasp on it.
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How the iCoinPro MLM Compensation Plan Works
iCoinPro works on a 2×14 money matrix. This basically means that you create 2 downlines that go 14 levels deep. These are your earning levels. Anything beyond 14 levels you won’t earn residual commissions from.
When you first start you only earn on 10 of the levels, but as you advance up the ranks, the other 4 levels open up one at a time, increasing your earnings.
So the real secret to making money with iCoinPro is with recruitment, just like it is with more traditional MLM companies such as Max International.
If you can’t recruit and your recruits can’t recruit and build an active team, you won’t make much money at all.
Some of the bonuses you can aim for along the way include:
- Powerline Bonus
- Fast Start Bonus
- Fast Start Override
- Matching Bonus
Let’s now have a glance at the ranks you can achieve:
- Unranked
- 1 Star
- 2 Star
- 3 Star
- 3 Star Elite
- Star Presidential
For a better understanding of how the compensation plan works, the iCoinPro official explainer video tells it all better than I can. Check it out below.
Weekly Webinars
Paul De Sousa conducts weekly webinars where you receive some extra training, tips and advice.
It’s always good to have more direct contact with those who are running the scheme, as you don’t feel like you just bought into something and have no support, or feel like there’s no one out there actually steering the ship.
This Is All About Recruiting Into a Money Matrix
I mentioned earlier that, although the training is useful, the real focus of this scheme is for people (and iCoinPro) to make money by recruiting new members and having them spend money on the 3 different membership levels.
The training is more of an excuse to have a product to run a money matrix. That’s what iCoinPro is really all about.
They do offer products, such as the training and the MicroProfit System trading platform. This gets them around being labelled an illegal Ponzi scheme, so it’s legit in that sense, but that still doesn’t alter the fact that this all runs on recruitment if you want to make money with it.
You can’t sell these memberships to the general public as merely a product. I mean you can, but you don’t earn anything for doing that unless you pay extra to be a distributor and join the matrix, and you only make money in the matrix if your “customers” also buy into the matrix.
Target Market
This is really aimed at anyone who wants to make money online and in particular, those who are interested in learning about cryptocurrencies, including investing and trading.
In reality it’s a bit of a get rich quick type of scheme, and that’s also part of the target market: Those who are wanting a way to make big money fast.
Only that’s more fantasy than reality, as this scheme takes a lot of time and effort because of all the recruiting members need to do in order to make any real money.
What I Like
- There is some useful training here regarding currencies and especially cryptocurrencies
- The trading software they give you access to is not bad
- You can potentially make some big money, particularly if you can get some of those bonuses and move up the ranks
- There is a weekly webinar where you can interact with Paul De Sousa himself
What I Don’t Like and Red Flags
- Everything here is really a front to run a money matrix
- This scheme is all about recruiting to bring money into it and to pay the commissions of the members
- It’s quite expensive when you add up the membership levels
- If you can’t recruit and build active teams, you won’t make any money with this, as that’s what it all relies on
- Much of the training is all stuff you can readily learn for free online if you search for it
- It’s still MLM, which in my opinion is one of the hardest ways on the planet to make decent, consistent income
- There’s no need to pay a membership to get access to a currency trading platform. All others out there are free when you go through a broker
How Much Does iCoinPro Cost?
I mentioned earlier that there are 3 different membership levels in the iCoinPro system. These are:
- Monthly Membership = $39.95 per month
- 6 Month Membership = $229.95 every 6 months
- 12 Month Membership = $449.95 every 12 months
On top of this, in order to become a distributor and join the money matrix (so you can actually earn money), you also have to pay a one time fee of $40.
Is iCoinPro a Scam Or Legit?
I don’t think this is a scam. For something to be rated as an outright scam by me, it would have to be a dodgy scheme that just rips people off.
iCoinPro doesn’t do that, and even if you don’t want to earn by selling it, you still get some pretty good training, as well as access to their trading platform.
If you do want to make money with this, it does cost you a joining fee, and you’ll be encouraged to buy higher memberships. The money matrix and bonuses are quite good and generous, provided you can climb the ranks.
That’s really what your success will hinge on; recruiting well and climbing the ranks, just like it does with any MLM scheme.
Look, I don’t really recommend this. You can find most of the information that’s in the training online for free, and if you want to trade currencies, then simply join a reputable, known broker and you’ll have free access to their trading platform. This includes regular currencies and cryptocurrencies, depending on the broker.
There’s really no need to pay for any of that.
iCoinPro is really a scheme designed to have members sell the same scheme they bought into. That’s all it is at the end of the day. You could make money, I’m not denying that, but there are better ways.
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I can’t fully give iCoinPro the green light, but that doesn’t mean there aren’t some really awesome and legit ways to make money online, because there are.
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Because there is no limit on how much you could earn, you can do it part-time, replace your fulltime job with your affiliate income, or possibly even get quite wealthy from it. This gives you more security financially, as well as enabling you to live with far more lifestyle freedom.
You’re not trading time for dollars like you do in a job, so anything’s possible.
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