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Nasda Coin Review: Another Lending Scam

Nasda Coin Review: Another Lending Scam

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Estimated reading time: 5 minutes

NasdaCoin is a fake Cryptocurrency investment opportunity. In their whitepaper, they claim that someone named ”John Baptist” is their co-founder. We’ve looked into his Facebook profile and discovered that he is originally from Brazil but is currently residing in Suriname, South America.

Other Nasda Coin co-founders have not been named or revealed. In his Facebook page, he recently updated his status with information that might suggest they are based out of Dubai or Thailand for that matter.

This man named John Baptist appears to be having a history of operating several ponzi schemes/mlms. He’s got links with entities such as Jeunesse, SwissGolden, Game Loot Network and many others.

Other evidence suggests that Baptist may have invested with scams like Bitconnect (now collapsed) and  iPro Network. According to the marketing material found on the Nasda Coin website, Baptist is a ”blockchain developer”. Any other role is not disclosed in association with him in this company.

Note: You are better off trading Cryptos with these robots.

Nasda Coin Review

There are no products or services associated with this website. Moreover, we have always said that there must be some sort of income generating activity for members to earn profits. Money cannot be made by collecting it from members of the public and distributing it back to members of the public. That should be the idea of a ponzi scheme which we all know will eventually collapse at some point.

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Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.

Since Nasda Coin has no real product or service, they have resorted to selling Nasda Coin membership. Members must pay real funds in order to obtain Nasda Coin (NSD Points). The funds that member are depositing into this platform has to be in form of Bitcoin or any other major Cryptocurrency.

nasdacoin

Nasda Coin or NSD Points are currently being sold to members at a cost of 99 cents each. The moment an investor purchases these points, they are supposed to ”lend it back” to Nasda Coin so that they can generate 300% ROI. If you invest anywhere between $100-$1000, you will receive daily variable ROI. Any amount that is up to $5,000 will receive daily variable ROI plus a bonus of 0.1%. Any amount up to 10K will receive daily variable ROI plus a bonus of 0.2%. Maximum investment is $100,000 which should receive a daily variable ROI and a bonus of 0.3%.

These contracts are supposed to expire in 1 year or after the investor has achieved the 300% ROI.

There are also referral commissions which is supposed to be paid based on a binary compensation structure. We have talked about binary compensation structure before. Basically, this structure has one person at the top, who is supported by two people right below him and so on. Residual commission is supposed to be paid based on generated points.

Nasda Coin is currently allowing two forms of participation. Either one should join for free and promote their affiliate membership to earn points or make an initial deposit of $100 in order to become a full member of Nasda Coin.

The truth about this website

We have already seen that the owner of this website is a well-known figure in the mlm industry. Since he has links with some of the most infamous ponzi scams in the industry, one might believe that Nasda Coin is just one of the many ponzi schemes he is currently running. Chances that we are correct on this is nearly 100%. That’s because history never lies. If a person has a track record of operating ponzi schemes, he will still operate them even if they collapse, he still finds new ones to operate.

Also, Baptist’s initial involvement with a collapsed scam, Bitconnect, makes a lot of sense because Nasda Coin is essentially a clone of the Bitconnect website. Also, by using the word Nasda in the name of this website, he is trying to evoke associations with the NASDAQ stock exchange.

Nasda Coin is very clear on the fact that they are not trading but shuffling investor funds here and there. They claim that their website is offering 25% profit plus fixed bonus depending on the amount contributed into the community. In other words, new members deposit money and Nasda Coin does what it is good at — paying other affiliates commissions based on this deposit. Now, that’s how ponzi schemes operate. They rob one person to pay another. Chances that you won’t get paid are 100% though.

As mentioned before, Nasda Coin has a referral and a binary compensation structure which is only adding a pyramid layer into the equation. The NSD points which investors are supposed to acquire are worthless outside the Nasda Coin ecosystem. Investors are basically acquiring worthless coins for real money like Bitcoin.

When we look at Nasda Coin website, we see that it is just another ”me too” cryptocurrency investment project as it brings nothing new to the table. This is quite evident in the way they are using a ”decentralized” marketing pitch to mislead investors into thinking NSD points are truly valuable.

This website is also promising its affiliates that the value of these points will double in 40 days. They claim on their website that due to their affiliate structure, the value of the coin is expected to double in 40 days.

But what does this mean? It only means that these coins are fictitious. They only exist as a channel for John Baptist and his partners to rob investors of their hard earned money. There is no profit to be made. Moreover, there is no guarantee that the value of a useless coin can double out of nothing. Moreover, not many investors are going to participate in this kind of thing unless it has a real product or service to back it up.

This is essentially a lending ICO ponzi scam. We saw it in Bitconnect and how things ended up. Now this is not news anymore.

Our best advice for you

You’re going to lose money anyway. Stop focusing on a useless scam like Nasda Coin. It’s bad for your pocket. It’s going to ruin your Cryptocurrency wallet because Nasdacoin is operated by a well-known robber. Invest here instead.

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