CoinJob provides no information on its website about who owns or runs the company.
In an attempt to appear legitimate, CoinJob provides a UK incorporation certificate on its website.
The certificate corresponds with Coin Job LTD, incorporated on June 30th, 2020.
UK incorporation is dirt cheap and effectively unregulated. It is a favored jurisdiction for scammers looking to incorporate dodgy companies.
For the purpose of performing MLM due-diligence, UK incorporation is meaningless.
CoinJob’s website domain (“coinjob.biz”) was privately registered on June 4th, 2020.
At the time of publication Alexa ranks Bangladesh (28%), Vietnam (25%) and Turkey (17%), as the top three sources of traffic to CoinJob’s website.
Whoever is running CoinJob is likely based out of one of these three countries.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
CoinJob has no retailable products and services, with affiliates only able to market CoinJob affiliate membership itself.
CoinJob’s Compensation Plan
CoinJob affiliates invest 0.002 BTC or more on the promise of a perpetual 4% daily ROI.
CoinJob pays referral commissions on invested bitcoin via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
CoinJob caps payable unilevel team levels at five.
Referral commissions are paid out as a percentage of bitcoin invested across these five levels as follows:
- level 1 (personally recruited affiliates) – 5%
- level 2 – 2%
- levels 3 to 5 – 1%
CoinJob affiliates can increase their referral commissions to six levels by qualifying as a “Representative”.
- 8% on level 1
- 2% on levels 2 and 3
- 1% on levels 3 to 6
Note that CoinJob do not provide Representative qualification criteria on their website.
CoinJob affiliate membership is free.
Full participation in the attached income opportunity however requires a minimum 0.002 BTC investment.
CoinJob represents it generates external revenue via cryptocurrency trading.
We manage the funds of our investors in cryptocurrency exchanges, buying and selling according to the market trends to maximize our profits and minimize the risks attached.
No evidence of trading is provided. Nor is there any evidence of CoinJob using any other form of external revenue to pay advertised returns.
Furthermore CoinJob’s business model fails the Ponzi logic test.
If CoinJob’s anonymous owners were actually able to consistently generate 4% a day, what do they need your money for?
Even a modest capital compounded at 4% daily doesn’t take long to turn into a fortune.
As it stands the only verifiable source of revenue entering CoinJob is new investment.
Using new investment to affiliates a 4% daily ROI makes CoinJob a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dies down so too will new investment.
This will starve CoinJob of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.