An intriguing yet dangerous new investment opportunity has entered the cryptocurrency domain, known as FirstCoin.Club. As you will learn throughout this unbiased review, FirstCoin.Club has put a new twist on the traditional cryptocurrency related business venture, which enables this operation to act most presumptuously as a cross between a MLM scam and Ponzi scheme. As with the vast majority of Ponzi schemes, FirstCoin Club employs an unsustainable business model that will surely crash with devastating consequences in the near future.
What is FirstCoin.Club?
What you see is what you get with FirstCoin.Club. No information pertaining to the operation can be found anywhere on the site. In order to gain access to any relevant information of value, visitors must register for an account through FirstCoin.Club. Which, be known, that if you do register for an account through this site, you will receive numerous spam emails daily. Therein lies the first red flag pertaining to the FirstCoin Club operation.
A corporate entity referred to as Dynamic Global Marketing Ltd is mentioned at FirstCoin.Club, yet we have been unsuccessful in finding any relation between these two organizations. While Dynamic Global Marketing Ltd is allegedly a company based out of Dubai, search queries conducted through Dubai business registers fail to churn up any credible results. As to whether or not FirstCoin Club is backed up by a legitimate company, we cannot verify for certain.
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How does the FirstCoin.Club program work?
FirstCoin.Club offers an operational model closely resembling an ICO, where investors, referred to as “affiliates,” have to invest into a cryptocurrency created by FirstCoin Club known as Firstcoin. As with most cryptocurrency operations that employ similar business practices, FirstCoin.Club enables “affiliates” to earn between 3% to 7% monthly ROI. A total of 4 account packages are offered through the FirstCoin.Club program:
Basic
Deposit: $200 to $1,999
Monthly ROI: 3%
Silver
Deposit: $2,000 to $9,999
Monthly ROI: 5%
Gold
Deposit: $10,000 to $24,999
Monthly ROI: 7.5%
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VIP
Deposit: $25,000+
Monthly ROI: 7.5% plus 10% one-time bonus
FirstCoin.Club Scam Test
Does the website promise unrealistic returns?
Certainly! It doesn’t take a mathematician to figure out that the promised monthly ROIs far exceed the realm of plausible. Research has shown that the average annual accruement among legitimate Bitcoin related investments and mining operations to be around an annual return varying between 20 to 30%, not between 36 to 90% as guaranteed at FirstCoin.Club.
Is there information regarding the owners of the site?
While we were unsuccessful in generating any credible results through Dubai business registers in regards to Dynamic Global Marketing Ltd, a domain report will reveal more information. According to the whois.com report, FirstCoin.Club was registered by an entity known as Terence Andrew Tirant. The provided address of Terence Andrew Tirant is HDS Business Centre 3204 Jumeirah Lake Towers, Dubia. The telephone number on file is +971.44785867225 while the provided email is hsnbrg02@protonmail.com. (Is that you, Heisenberg??)
How old is the website?
FirstCoin.Club was created on July 15th, 2016, and has a set expiration date of July 14th, 2022.
Does the site have a physical address?
While FirstCoin.Club fails to provide authenticated information pertaining to the owners and operators behind the site, a domain report reveals that the registrar behind this site has a street address of HDS Business Centre 3204 Jumeirah Lake Towers, Dubia.
Are any legitimate sites associated with the website?
No legitimate sites appear to be affiliate with FirstCoin.Club. While many review sites are concluding that FirstCoin Club is a suspicious operation, that is mostly likely a Ponzi scheme, no conclusive evidence has been presented against this operation.
How popular is the website?
FirstCoin.Club possessed a global rank of 69,093 as of November 22nd, 2017 according to SimilarWeb, indicating the site gets many visitors every day. Over 50% of these visitors seem to be residing in Vietnam, Turkey, Italy, the United Kingdom and the United States, while just over 30% of all the sites traffic derives from referral based sources. The top referring site would be FirstCoinProject.com.
FirstCoin.Club Review Conclusion
FirstCoin.Club is not a legitimate cryptocurrency investment, unless you are in the business of donating away your bitcoins. While investigate work has shown that FirstCoin.Club claims to be backed up by a corporation known as Dynamic Global Marketing Ltd, research has revealed no affiliation between these two entities. The returns promised through FirstCoin Club are unbelievably high and characteristically embody that of a Ponzi scheme.
Our recommendation would be to avoid FirstCoin.Club and learn about more trusted cryptocurrency alternatives by visiting our Cryptocurrency Investing Guide.
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Review Verdict: FirstCoin.Club is A SCAM!
Blacklisted Site: FirstCoin.Club
Either these people posting their stories have no clue what they have gotten their selves into or they are just taking plan BS outta their ass and are fake. Go they coin market cap, First Coin has crashed going from 17$ to 0.39cents.
Yes Firstcoin has gone through a crash, but even Bitcoin and other altcoins did the same when they first started. Price will rise again over next few months. There have been challenges, it’s a new coin but will come back stronger.
FRST is SCAM. Thanks author, Tim
The perosn wrote this article is him/herself is a scam. Stupid moron!
Firstcoin club has been properly paying out since it began. Have met the companies management, they are good, ethical leaders. Firstcoin club’s ecosystem is well thought out and long term. I think time will show Firstcoin to be one of the strongest cryptocurrencies in the market.
Dear SV,
Now firstcoin.club website is showing error …since last month that also clue it’s a scam….
Its ptoperly paying out according to plane.
Honestly speaking i am getting pay cheques every 15 days and its working for me and my friends well.
You and your “friends”
How you getting cheque every 15 days