DasCoin is a hybrid Crypto currency which works in a similar fashion to OneCoin. DasCoin dubs itself as the currency of trust, and anyone who wants to get involved with this must go through NetLeaders where they invest anywhere between €100 to €25,000 in real money. This gives them the right to purchase their NetLeaders membership license. Of course the higher the amount of money you invest, the more cycles an investor is supposed to receive. This is supposed to earn an investor more DasCoins because they are using more cycles.
Therefore, your license is the only thing you need to gain access to the DasNet platform. Once the platform uses up your contribution, you are supposed to earn even more DasCoin.
In addition to that, this platform claims that their Crypto currency is the first coin to run on MasterCard, Visa and Apple Pay.
However, the platform has no product or service which it sells to the masses. Instead, it is an affiliate platform where investors earn when they recruit others to join the network. So this makes Dascoin a bona fide ponzi scheme.
The investment plans are as follows:
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For Standard package, you invest €100 EUR and earn 1260 cycles and one upgrade.
For the Manager package, you invest €500 EUR and you receive 6350 cycles. This earns you 1 upgrade.
Pro members are supposed to invest €2000 EUR to receive 27,600 cycles and 1 upgrade respectively.
For executive members, you invest €5000 EUR to receive 74,750 cycles and 2 upgrades thereafter.
Vice president package requires an investment of €12,500 to earn 247,500 cycles and 2 upgrades respectively.
Finally, President package requires €25,000 EUR to receive 373,750 cycles and 3 upgrades respectively.
When you get involved with this ponzi scheme, you don’t receive DasCoin directly. Instead, you receive what they call cycles. In order to get Dascoin, you need to use cycles. The type of license that you will hold is equivalent to the amount of contribution you have made into the network.
According to the company, they will only create 8.5 billion DasCoins. The network pays out commissions and bonuses to its members.
Looking at this thing, you realize that the system which DasCoin is using is nothing new. The concept has been used by many MLM scams in the past. However, this network is somehow taking a different twist to distract people from realizing that it is a typical ponzi scheme. They are instead adding Crypto currencies into the equation to make it look legit when it is not. What you purchase when you join this network is called NetLeaders’ license. This license gives you the capacity to recruit others and build your down line to earn commissions and bonuses.
The program was launched in 2015 together with another platform called CoinLeader platform. CoinLeader platform served as a market place for buying licenses. Then in December, the company experienced some issues, and they decided to shift from CoinLeaders affiliate program to their current NetLeaders network marketing program which is a network built by their in-house development team.
CL Singapore Pte. Ltd is a company owned and operated by Coin Leadership Limited which is based in Dubai and not in Singapore as one would have expected. CL Singapore Pte is in charge of all NetLeaders affairs. NetLeaders is headed by someone called John Pretto who is the Director and co-founder.
Mr. Pretto has a long history of working or at least promoting scams. He was associated with Wi-Fi company R66T and later Hello Network. However, the DasCoin website does not disclose that John Pretto was actively involved in the promotion of this website back in 2015.
Surprisingly, this ponzi scheme even has board of directors. These include Eberhard Wedekind, Soon Hock Lim, Terry O’Hearn, and Michael Mathias. And just like Mr. Pretto, Mathias was also an active promoter of the scam OneCoin. In fact, he is the person who approached Mr. Pretto and convinced him to join OneCoin. He even featured during the launch of the scam in the US sometime in 2015.
Having said all this, the next question is this: does this company run a legit business operation or is this a scam?
NetLeaders and DasCoin websites are very generic and vague with their explanation and description of the service they are offering. For anyone who is new to the world of Crypto currencies, this will quickly make them confused about the service.
The main reason why this is a pure scam is that they do not have a real product. The website has not proved yet whether they have an external source of income, and so ROIs have to be paid through members contribution and no other way. The only approved source of ROI is their affiliate commissions which is indeed how people earn through this rogue network. The question becomes: when new members stop coming, where else will they get funds to sustain the network?
The second proof that this is a scam is because DasCoin is not considered an investment asset like Bitcoin which is generally accepted everywhere on the internet. When it comes to this coin, you have to realize that it only works within the network only. But this is a fact that they will not admit because even the site lies to its investors that the coin is soon to be accepted by some 60 million merchants. This is a big fat lie because no list of merchants were actually presented on the site for us to see.
Also, the many false claims which you see this scam spreading across the internet through ads and paid reviews are all misleading.
Should you join DasCoin? The answer is no, because this is an MLM ponzi scheme whose business model is not accepted anywhere else in the world. The people who own this scam used to promote One Coin, and so expect to be stolen from if you send your money. You can genuinely invest in Crypto currencies here because these resources are valid and are highly recommended everywhere else.
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