Is Platincoin a Scam? It’s Not But There’s A Catch. Find Out What That Is!
Welcome to my Platincoin review!
A lot of schemes are now involving cryptocurrencies, which is something that the public must be wary of.
It’s true that the vast majority of the general public don’t know anything about the world of cryptocurrency and how it works. That’s why these schemes are going after them.
One of these schemes that we’re investigating today is Platincoin.
First of all, I must Congratulate you for taking your time to do your own research before buying into any "seemingly good" product.
That's the way to avoid scams and find the legitimate way to make money online!
Let me be completely transparent with you, I'm not associated with Platincoin in any form.
So, rest assured that I'm not here to pitch or sell anything to you.
Instead, I'm here to reveal what's the catch when it comes to getting into this income opportunity!
Platincoin Review Summary
Product Name: Platincoin
Founder: Alex Reinhardt
Product Type: Cryptocurrency Trading Platform
Price: 5 Eur to 10,000 Eur Investment
Best For: No one
Summary: Platincoin is a cryptocurrency trading / investment opportunity that has you investing in their token called PlatinCoin. The more money you invest, the more money you get back. However, there's just a few things that has me not wanting to recommend this program to anyone. One big reason is that they had a government-issued warning against them by Germany's financial regulation institution, and that's something not to be taken lightly. I'll go over this warning in the article below.
What is Platincoin?
Platincoin is a cryptocoin released by a company called PLC Group AG, located in Zug, Switzerland. However, their base of operations is in Germany.
Platincoin’s goal is to create a coin that has more practical value and more useful to the public, as opposed to just storing it.
As of this writing, the coins can only be awarded as a free gift, which is given by purchasing their business pack.
Who’s Behind Platincoin?
The website doesn’t provide you any information about the company’s background, which also includes the people who run the company.
However, further research shows that the CEO of the company is Alex Reinhardt, who’s been reputed to head a few Ponzi schemes before diving into Platincoin.
Reinhardt got in trouble with the law after the Swisscoin Ponzi Scheme fell apart and collapsed. In 2017, Switzerland filed legal action against Swisscoin, which led to its collapse.
As one might expect from a former affiliate of a pyramid scheme, Platincoin doesn’t sell any goods or provide any retail services to its customers.
They only provide what I call an income opportunity through their 4 different platforms, for which you take advantage of by becoming a member.
This is their official social network, which houses all of their members all around the world. The Network also acts as a gateway for tools and resources for promoting Platincoin.
This is their crowdfunding platform where members are given the chance to support new business startups. This works by agreeing towards a percentage of that business’ profits being returned to Platincoin and divided among the users and members.
This is their trading platform where members can also enjoy being a part of Platincoin’s compensation plan, which will be explained in the next section.
This is their training and learning platform where everything you need to know about the coin and how it works is found. The platform also covers skills on trading, but no feedback on how comprehensive the training is.
I Created My Own 4-Figure Monthly Passive Income at just 21 Years Old!
I Created My Own 4-Figure Monthly Passive Income at just 21 Years Old!
How Do You Make Money From PlatinCoin?
On the compensation side of things, members of Platincoins have to invest their money through PlatinCoins, which is their version of cryptocurrency.
The amounts range from 5 EUR all the way up to 10,000 EUR, or $5.50 USD to $11,000 USD based on today’s conversion rates. At this time of writing, Platincoin is worth $7.61 per coin.
The coins aren’t tradeable on the public market right now, and they can only be exchanged for real money through their own exchange system called Turbo Button PLC.
How to Join Platincoin and How Much will it Cost?
You just sign up to become a member for free over at their website, but then you’ll have to select any of these different business packages.
Each business package includes a certain ROI, as well as access to the 4 mentioned platforms above.
Who's Platincoin For?
Platincoin appears to be a legitimate form of cryptocurrency, but I am wary of recommending this to anyone.
At this point, I don’t think this program is for anyone, not even experts in trading, and I’ll tell you why.
Platincoin Ugly Truths Revealed!
#1 – Government Warning Against Them!
The Federal Financial Supervisory Authority, BaFin, of Germany has recently warned investors against a new cryptocurrency scheme scalled Platin Genesis, DMC, which offers tokens called PlatinCoin.
The warning also covers their other cryptoproducts, which include a blockchain wallet and a token that’s not compliant with any financial regulation from Germany.
In their official statement, BaFin warned investors from the country that the company should be avoided at all costs. They are also encouraging all of their citizens to verify the ID details and the background information of any company before investing any money.
They say that any company that doesn’t provide you with any information about their ID should be ignored.
Now, Platincoin issued a response against this warning, but it doesn’t mean anything at all because the institution still has jurisdiction over the company because they are operating in Germany.
For me, this is more than enough for me to not invest in the company.
#2 – It’s Built Like a Ponzi Scheme!
On top of its government warning, the entire business opportunity is very suspect of being a Ponzi scheme.
Per government guidelines, especially the FTC, one of the red flags of a Ponzi scheme is that when an opportunity doesn’t provide any goods or services for sale and when they rely too much on investments and recruitment.
When your only means of making money is through investing repeatedly over and over for profits, then there’s something going on.
I am not saying that Platincoin is a Ponzi scheme, but it looks like one.
Plus you can’t blame us for thinking this might be a Ponzi scheme after its CEO was tied to one before.
#3 – Cryptocurrency Is Still Very Risky!
Trading cryptocurrency is still risky because the market is volatile and unpredictable. Not even expert traders are going all in on investing in any type of coin.
Even if there was coin worth investing money on, I don’t think Platincoin is one of them. There are other valuable cryptos out there that are worth your time and money.
#4 – More Money Invested, More Money Earned!
Your only opportunity to increase your profits is to increase your investments, which is kind of the gist of any form of trading.
However, you really need to shell out a lot of money if you plan on churning out a full-time income from trading. And at this point, Platincoin may need thousands of dollars to really make this venture worthwhile.
What I Like About Platincoin?
Platincoin doesn’t really sit well with me because of the red flags mentioned above, and I don’t think there’s just something about the program that I like.
Is Platincoin a Scam?
Platincoin appears to be a legitimate company with a legitimate token, but I am inclined to not recommend this program to anyone.
The biggest reason why I don’t think this program is for anyone is because they already have a government warning against them. This is something that’s not taken lightly.
Even though they issued a response, the warning still holds for the safety of the public.
And yes, I don’t really think trading is meant for novices who want to earn a full-time income because of the many nuances and technicalities involved, so there’s that. Trading is meant for the experts and those who’re already financially stable.
How I Make a Living Online?
I've personally created a 4-Figure Monthly Passive Income Stream and become financially independent at just 21 years old without any College degree or working experience!
Through my own hard work, I went from a broke restaurant waiter to living my dream laptop lifestyle in less than a year's time...
If you want to discover the secrets of how I did it at such a young age, click here!