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Beep XCoin Review: BeepXCoin.com A Crypto Mining Pyramid Scam

Beep XCoin Review: BeepXCoin.com A Crypto Mining Pyramid Scam

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Beep XCoin is a crypto company that makes some very tall claims. BeepXCoin.com even goes on to declare itself to be the best crypto coin in the world, which is obviously not true. Since the company is claiming to be a leading name in the crypto industry, it is important to review it in great detail to determine if you should invest in it or not.

Overview of Beep XCoin

Beep Xcoin is cryptocurrency mining launched by Beep Xtra. Beep Xtra is a loyalty program. It was launched in 2013 as an e-commerce platform focused on building strong customer relationships with local, regional, and international stores. Beep Xtra loads spendable cashback directly on customers’ beep cards.

It is like receiving your cash back from a Beep Xtra store directly in your card, and you can spend that cash elsewhere, i.e., at shopping mall or café that accept Beep Xtra cards. BeepXCoin.com claims that an interesting feature of the company is that local stores could get online global presence free of cost. Moreover, the company is claiming to have excellent transaction speed and access to the crypto market.

However, that was a flop idea. In 2014 Beep Xtra began to offer unregistered securities to its affiliates to revive the business, but unfortunately, that too did not work for long. By 2016 Beep Xtra was on the verge of collapse.

Beep XCoin also has the same business model. It is hiding its true MLM nature by claiming to be a crypto trading and mining platform. It is quite evident that the company is using money from the new affiliates to pay the old members.

Products of Beep XCoin

The BeepXCoin.com affiliates or retailers pay amounts to get Beep XCoins monthly. The more money they pay, the more coins they get.

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Beep XCoin markets the following crypto mining packages

  • $500 package that remains valid for the duration of 2 years
  • $1199 package that remains valid for the duration of 2 years
  • $2299 package that remains valid for the duration of 2 years
  • $10,000 package that remains valid for a negotiable period.

Joining Beep XCoin

The new affiliates pay an initial $149 as an affiliate fee, and further, they pay $50 every month. The affiliates who brought them will get a commission of both fees. Moreover, investing in Beep Xcoin mining projects costs a minimum amount of $500.

The company is asking for a very large amount of investment. There are very few earning opportunities in BeepXCoin.com that will actually allow you to earn profits. It is a highly suspicious company that can collapse anytime when its recruitment stops. Therefore, you should not rely on this platform to make money. Instead, invest in the crypto mining companies that provide modern services, flexible account plans, and reliable crypto mining infrastructure to earn maximum profits.

Beep XCoin

Compensation Structure of Beep XCoin

The compensation plan of Beep XCoin is a combination of

  1. Recruitments
  2. Mining package’s commission

The affiliates of BeepXCoin.com can earn through recruitment, mining, and residual commission.

Recruitment commissions

BeepXCoin.com is basically a pyramid scheme. Hence, affiliates get a commission for bringing every new member to the company.

Affiliates receive 7% to 20% recruitment commissions at Beep XCoin for recruiting new affiliates. Detailed commission percentages are

  • They receive 7% commission for recruiting 1 to 7 affiliates
  • 14% for recruiting 8 to 19 affiliates
  • 20% for recruiting 20 or more affiliates

Mining Commission

Secondly, affiliates of Beep Xcoin also get a commission for mining packages where miners are promised Beep Coins for completing transaction blocks.

When non-affiliates or retailers join BeepXCoin.com for crypto mining, the affiliate who referred them will get a 7% commission.

Ranks

Within the compensation plan of Beep XCoin, the ten affiliate ranks are:

  1. Marketing Executive Rank for which you have to hire at least one affiliate
  2. Area Sales Manager 1 Star for which you have to hire at least eight affiliates
  3. Sales Manager 2 Star for which you have to hire at least twenty affiliates
  4. Area Sales Manager 3 Star for which you have to hire at least one affiliate of Area Sales Manager Rank
  5. Regional Sales Manager 1 Star for which you have to hire at least two affiliates of Area Sales Manager Rank
  6. Sales Manager 2 Star for which you have to hire at least three affiliates of Area Sales Manager Rank
  7. Regional Sales Manager 3 Star for which you have to hire at least four affiliates of Area Sales Manager Rank
  8. National Sales Director for which you have to hire at least five affiliates of Area Sales Manager Rank
  9. Continental Sales Consultant for which you have to hire at least ten affiliates of Area Sales Manager Rank
  10. Global Sales Consultant for which you have to hire at least five affiliates of Continental Sales Consultant Rank

BeepXCoin.com

Bonus on rank achievement

Beep XCoin pays bonuses to its affiliates who achieve an area sales manager or other ranks within a specified period of time.

  • $200 for area sales manager 1 star under the period of two months
  • $300 for areas sales manager two stars under the period of three months
  • $400 for areas sales manager three stars under the period of three months
  • $500 for regional sales manager 1 star under the period of five months
  • $600 for regional sales manager two stars under the period of six months
  • $700 for regional sales manager three stars under the period of seven months
  • $1000 for national sales director under the period of eight months
  • $1250 for continental sales consultant under the period of ten months
  • $1500 for global sales consultant under the period of 12 months

Conclusion

There are some worth noticing facts about Beep XCoin that may affect our verdict

  • The purpose of this company is to revive the failing Beep Xtra business. It has flopped itself, then how can it assure currency investment security.
  • Beep XCoins are not even publicly tradeable, which raises suspicion. It is risky for customers and retailers to invest in the publicly non-tradeable crypto coin.
  • Only Beep Xtra can convert your income from Beep Xcoin to spendable cash. So, customers will have to join Beep Xtra first. But what if they fail to convert earning into cash? What if the Beep Xtra card is not accepted? Everything goes in vain; those points are of no use.
  • If Beep Xtra closes all Beep Xtra stores and the stores reject receiving Beep Cards, all your money is gone.
  • Beep Coins value is not determined. It can fix the value of their own choice, and it may vary.
  • Beep Xtra and Beep XCoin are not registered to provide security to affiliate investment. Also, the investment fee of $500 is too much amount, which gets affiliates reluctant to invest.
  • The initial joining fee and the monthly amount make Beep XCoin undesirable. Because the process of earning profit more than the costs and investment is a prolonged and passive process. The amount is too huge to earn back.
  • The pyramid issue brings up the uncertain recruitment of recruitment. Once the recruitment stops, Beep Xtra and Beep XCoin are doomed to collapse.

In my opinion, you should not invest in BeepXCoin.com. It can turn out to be a total fraud and you might end losing your investment in this company. Therefore, avoid it in the first place. Instead, you should invest in crypto mining companies. The services of these crypto mining companies are much more reliable and efficient that can help you in earning good amount of profits.

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