CarCoin Review – Legit Company or Huge Scam? Find Out Here…

Welcome to my CarCoin Review!

Whether you have been in the MLM world for years or this is your first venture into this niche, choosing the right company to join is an important decision…

A decision such as this should not be made without first doing your research.

My blog review about CarCoin will help you with this crucial choice by providing you with everything you need to know about the company, the products and the compensation plan.

First, let’s get into the company background!

CarCoin Review – The Company

Carcoin Review

When you check out the CarCoin website, you will see that there is no information about those who run or own the company.

I did, however, manage to find out that the CarCoin website domain was registered privately as “mycarcoin.com” on the 27^th of September, 2017.

Current traffic estimates from Alexa show that 67% of the CarCoin website traffic comes from Vietnam.

I also noticed that any marketing material I could find on CarCoin was offered in Vietnamese.

So, what does this mean?

It means that it is highly likely that whoever is running this business is based out of Vietnam.

CarCoin Reviews – The Products

Carcoin products

CarCoin does not offer any retail products or services to affiliates or retail customers.

Affiliates who join CarCoin simply market the affiliate membership.

CarCoin Compensation Plan

CarCoin affiliates who want to take part in the compensation plan must invest in pre-generated CSC points at a rate of 30 to 90 cents each.

Once the investment is made, affiliates must lend their CSC points back to the company for a monthly ROI of up to 24%:

Invest $200 to $1000 and receive a variable daily ROI for 299 days
Invest $1010 to $10,000 and receive a variable daily ROI plus 0.1% bonus daily ROI rate for 239 days
Invest $10,010 to $50,000 and receive a variable daily ROI plus 0.15% bonus daily ROI rate for 179 days
Invest $50,010 to $100,000 and receive a variable daily ROI plus 0.2% bonus daily ROI rate for 120 days

The company requires affiliates to reinvest 40% of their ROI payments back into new CSC points.

Residual Referral Commissions

Residual referral commissions are paid to affiliates through a binary compensation structure.

This type of compensation structure puts an affiliate at the top of a binary team that is divided into a left and right side.

Level 1 of the binary team holds two positions and the second level is created by dividing these first two positions into a further two positions, for a total of 4 positions on level 2.

Additional binary team levels are made as needed, and every new level holds two times as many positions as the level before it.

Binary team positions are filled through direct and indirect sponsorship of affiliates.

The company does not limit how far the binary team can grow to.

The company counts up new investment volume at the end of each day on each side of the binary team.

CarCoin pays out residual referral commissions at a rate of 10% of the matched funds on the left and right sides of the team.

Any volume that is leftover on the stronger side of the binary team is carried over to the next day.

Cost To Join CarCoin

The cost to join CarCoin as an affiliate is free, but affiliates who choose a free membership are only able to earn referral commissions.

If an affiliate would like to fully participate in the income opportunity, they must invest a minimum of $200.

Verdict on CarCoin

CarCoin attempts to claim they are generating outside ROI revenue through a ride-sharing app (like Uber or Lyft).

Mycar is a Blockchain technology platform. Our smartphone apps connect driver-partners and riders.

As soon as you register for the service, you will be given a Cryptocurrency Wallet right on your application.

The payment is very flexible. You can use Cash, Card or Cryptocurrency for payment.

Whether this MyCar app exists or not is yet to be seen, and what we are left with is no different than any other ICO lending Ponzi scheme.

From what I can tell, the only verified source of income coming into the company is from new affiliate investments.

Without any other revenue source that can actually be verified, it is more than likely that new affiliate investments are bring used to pay out existing affiliates their promised ROIs.

What this means is that once new affiliates stop signing up, the funds will dry up and ROI will no longer be paid out.

Company owners will then take whatever they have and run, leaving affiliates high and dry.

My advice? Be careful if you choose to invest here.

I hope you enjoyed my CarCoin review and if you have any questions, please leave them in the comments below…