Trade Coin Club Scam or Legit?


#1

Hey everyone,

I wanted to go over a company that I was introduced to by a person at my church. The company is called Trade Coin Club. Before signing up as a member of Trade Coin Club I first did some research on them to find out what they were all about. I want to share with you what I learned.

First off I will say this, if you google Trade Coin Club you are going to find a lot of blogs that shine a negative light on the company. What is really funny to me is that all of these blogs have almost the exact same formatting and mention the same wrong information. Let me tell you, I am a member of this club; I put my money into this club; I am speaking from my own personal experience.

MLM Company

Trade Coin Club is a Multi-level Marking Company (MLM). Right from the start most are probably thinking, “Oh great, another ponzi/pyramid scheme.” Please continue reading and don’t let those other false MLM companies jade your opinion. Remember that Mary Kay, Pampered Chef, Avon, and Young Living are all MLM companies. Would you shy away from purchasing those companies products because they are MLM structured companies?

What is Trade Coin Club?

Trade Coin Club (TCC) is a company that claims to trade the top 10 crypto currencies. TCC leverages the most popular crypto currency, Bitcoin, to purchase the other 9 crypto currencies. Throughout the week (Monday-Friday), TCC uses their program to make these transactions. At the end of each day, they pay their members back proportionate to how many bitcoins they contributed.

So who is the owner/president/CEO of TCC? No idea. There are a number of key spokes persons. Joff Paradise, Dover Braga, Ricardo Pereira, Paulo Nogueira, and Geraldo Marques. The one I am most familiar with is Joff Paradise. When I say familiar, I mean, I see him post more videos than any of the others. Maybe it’s because I only speak English and the other people on the list speak English as a second language.

Are they a real company? Well here is their business license.

image

You be the judge.

TCC Membership

So what does it take to be a member of TCC? There are different memberships.

Apprentice: 0.25 BTC – 0.99 BTC (8 month contract)
Trader: 1.00 BTC – 4.99 BTC (12 month contract)
Senior Trader: 5+ BTC (12 month contract)

Each membership cost 0.05 BTC. This 0.05 fee is your payment for access to their trading software. This software is automated and only requires you to select your trade risk on Monday. If you don’t select your trade risk on Monday, you miss out on trading all week. With each membership, you will receive a 10% bonus for each person you recruit. So if your recruit invests 0.25 BTC, you will receive 0.025 BTC.

Trade Coin Club does have a pyramid and matrix multi-level structure. The pyramid is simple. You have 2 legs, a left and a right. On one side your sponsor is building, and on the other side you are building your team. You receive a team bonus, from the smaller leg, based on your membership level (8, 9, 10%) everyday. Let me tell you, if your sponsor is a great recruiter like mine is, you will have a hard time catching up to get the giant bonus that he is building on the stronger leg. These bonuses are paid into your commissions wallet. Along with the pyramid, there is also a matrix. This matrix is a 3×4, 3×8, or 3×12 matrix depending on your membership level. What the matrix does is once you have earned 0.25 BTC, you will be charged a fee based on your membership level (0.15, 0.30, 0.45 BTC). What this fee does is pay your way into the matrix. Anyone else below you that also qualifies for the matrix, you will receive a 0.03 BTC bonus for. Now, for someone who isn’t looking to recruit and only looking to invest, rest assure, this only activates once you have earned 0.25 BTC. One thing that is great about the matrix is that it’s a forces matrix. So lets say you don’t recruit but the person who sponsored you does. As they fill in their matrix, they will also eventually start to fill in your matrix.

There is also a 25% trade fee which they refer to as “tax”. This “tax” is withdrawn at the end of each cycle (76 days/cycle). Your last cycle, the 25% tax is withdrawn daily.

You will not get your initial deposit back. Over the course of your contract, they will pay back portions of your initial deposit plug your daily trade earnings. They “guarantee” 50% of your initial deposit back.

Experience

So I want to share with you what I have experienced. I started with an investment of 0.25 BTC in February. So I paid 0.05 BTC to invest and deposited 0.25 BTC into my exchange account. So from the beginning, 50% of what you invest goes to paying your upline and the other 50% goes toward your trade contribution (exchange wallet). For 60 days I compounded my earnings. Meaning, I took what I earned from the day and put it back into the exchange. Every time I did this, it put 50% into my exchange and 50% paid my upline commissions. I eventually saw that I needed to invest more to so I put another 0.15 BTC into my exchange. I also recruited 3 people. Two at 0.25 BTC and one at 0.95 BTC (meant to come in at 1 BTC but we forgot to factor in the 0.05 BTC fee). So on average, I was earning 1.25% of my total deposit every day, not bad. I was also earning 10% from my recruits every time they added funds to their exchange, plus 8% team bonus. I’m nearing the end of the contract and I can say that I have already pulled out my initial deposit approximately 90 days. I attribute this to recruiting. I don’t believe that if you invest the minimum, you will come out on top.

Overall

My experience with TCC, their trading program, and partners has, to this day, has been up and down. You do not hold the private keys to your Bitcoin. When Bitcoin hard forked into Bitcoin Cash, I did not receive Bitcoin cash for my Bitcoin that was in TCC. I can only imagine the profits they took from that as they did no trading that week. I’ve seen people silenced in their facebook groups for asking sensitive questions. There is no way to tell if your Bitcoin is actually being used to trade with or if they are paying you with new recruit BTC.

Scam or Legit? I think only time will tell.


#2

Two important takeaways (for me) from this great review:

  1. Access to information is limited (transparency)
  2. Control is limited

These two things are antithetical to blockchain and so, with that in mind, I’d never sign up and participate.

Just my 2 cents…! Thanks for the amazing and fair review!


#3

Just to updated everyone on this company.

I have completed my contract and was able to pull all of my profits out. I did not get any of my original investment back only what I earned in trading minus 25% for trade fee and 8% withdraw. This net me about 5% more BTC than my original investment. Hindsight, it wasn’t worth it because I would have earned BCH if I owned those keys.

My mom is still in the program. I was able to pull about half of my mom’s investment out at the end of her second cycle. She will more than likely come out with a lose of 10%.

My co-worker’s contract is over however her is unable to pull any funds out. There seems to be a glitch in their system right now that is saying he owes more than half his initial investment. When trying to pay what he owes, it says the minimum amount to send is 0.06 BTC. When we try to edit how much he is going to send, it doesn’t allow him to edit it. He is unable to submit a support ticket for this eternal loop he is in. More than likely, he will lose his initial investment 0.3 BTC (At the time he invested, this was $350).

This company has terrible customer support and you may never even hear back from them. Steer clear of this company.


#4

Thank you for updating us on this. It’s important to share these lessons learned!


#5

Totally appreciate the update. Thanks for letting us know!


#6

Bitconnect seems to give you a better deal. lol

Hopefully everyone else will learn from this. Do not waste your time on these scams.


#7

I had an apprentice account in this company, long story short, this company a SCAM and its very risky to invest in, they stole 0.5 BTC from me and they closed my account, they have no physical address and no phone number to call their asses, they are a bench of mother fucker including Joff paradase and other mother fuckers.


#8

So… how do you really feel? :face_with_monocle::yum:


#9

Wow at Church! Some bold people. I am seeing all these investigative videos on Bitconnect. All these people are doing their research now I see.


#10

So, here’s how I view these things:

  • I first must be knowledgeable enough to understand their system and how it works before putting money blindly into it
  • If I am able to figure out their system and how it works, I could probably do pretty well on my own imitating their system
  • If they still think they can outperform me (a semi-knowledgeable investor), then they should be able to run this system on their own and make more money than I could contribute
  • So why do they need me to join and refer my friends? They want to make money from that instead of their own system. So either they are preying on new users to fund the old users (pyramid), or they know their system doesn’t work long term

#11

Yea, these are not good people. They put an announcement out a few weeks ago saying they were ending all US accounts. If you haven’t reached 50% of your earnings, they would let you account remain active until it did hit 50%.


#12

It’s actually quite common: it’s called affinity fraud. They specifically target groups who have built-in trust for group members. Many fraudsters go after church groups because people wrongly believe other members of their church won’t scam them. The perps also know that the victims will be less likely to turn in them in. The targeting makes this kind of fraud particularly insidious.

http://www.sec.gov/investor/pubs/affinity.htm

“Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. The fraudsters who promote affinity scams frequently are - or pretend to be - members of the group. They often enlist respected community or religious leaders from within the group to spread the word about the scheme by convincing those people that a fraudulent investment is legitimate and worthwhile. Many times, those leaders become unwitting victims of the fraudster’s ruse.”


#13

If you are a scammer I guess it makes sense. On the other hand if you are a believer like AC DC says “We Got Big Balls!”


#14

I, too, am a TCC member – joined last Feb and invested 3.69 BTC and compounded it daily to reach 5.0 BTC for the highest level. The platform got off to a great start, but the owners are greedy and take advantage of people who join with less than 3 to 5 bitcoin, catering to the big MLMers that bring them more sacrificial lambs. I have to say that I have earned my initial investment back plus 0.5 BTC to-date. I only have 20 days remaining, but should end with approx. 1.2 BTC in profit. That is if I can withdraw the funds. My latest 2/9/18 withdrawal remains “pending” as of today. I would not recommend TCC to anyone - it has been a constant struggle and the level of greed exhibited is nauseating. I just hope that I can realize the anticipated profit and grateful that I did recoup all my investment. Had I not been at the highest level, that would not have been the case at all. My husband’s account was opened with the min. 0.25 BTC as a test and it lost money, as did many others.


#15

please keep us posted as to whether or not you’re able to exit…


#16

Yes - I will update on what happens!


#17

Yes it’s truly a scam. They just pay out the commission. My contract is finished but they don’t payaut also the support not answering my tickets. Don’t invest in this real scam…


#18

Hi
Kindly don’t invest on this TCC.
It’s completely fake
Please invest once it came in market


#19

Hi,
Kindly don’t invest on this TCC.
It’s completely fake
Please invest once it came in market


#20

Hi
Kindly don’t invest on this TCC.
It’s completely fake
Please invest once it came in market
I know one of their partner in this company
He is cheater