NasdaCoin Review: NSD points ICO lending Ponzi scheme
In their published whitepaper, NasdaCoin identify John Baptist as co-founder of the company.
Baptist’s Facebook profile states he’s originally from Brazil but currently resides in Suriname, South America.
The other NasdaCoin co-founders are not named. Recent posts on Baptists’ Facebook profile however suggest they may be based out of Dubai and/or Thailand.
John Baptist (right) appears to have a long history within the MLM industry.
NasdaCoin marketing material cites Baptist as a “blockchain developer”. His executive role within the company is not disclosed.
Read on for a full review of the NasdaCoin MLM opportunity.
NasdaCoin has no retailable products or services, with affiliates only able to market NasdaCoin affiliate membership itself.
The NasdaCoin Compensation Plan
NasdaCoin affiliates invest cryptocurrency funds in exchange for pre-generated NSD points.
NSD points are sold to NasdaCoin affiliates for 99 cents each.
Once acquired, NSD points are “lent” back to NasdaCoin on the promise of an advertised 300% ROI.
- invest $100 to $1000 and receive a daily variable ROI
- invest $1100 to $5000 and receive a daily variable ROI plus 0.1% bonus
- invest $511 to $10,000 and receive a daily variable ROI plus 0.2% bonus
- invest $10,100 to $50,000 and receive a daily variable ROI plus 0.25% bonus
- invest $50,100 to $100,000 and receive a daily variable ROI plus 0.3% bonus
Note that all NasdaCoin investments expire at 300% or 365 days, whichever comes first.
NasdaCoin pay referral commissions on invested funds 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.
NasdaCoin pay a 1% referral commission and cap payable unilevel levels at seven.
NasdaCoin pay residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
Residual commissions are paid based on generated points.
$100 of investment on either side of the binary team generates 1 point.
At the end of each day NasdaCoin tally up new investment on both sides of the binary team.
Affiliates are paid a 10% residual commission based on points generated on their weaker binary side.
Note that all NasdaCoin affiliates are capped at $10,000 in daily residual commission earnings.
NasdaCoin affiliate membership is free, however free affiliates only earn referral commissions.
Full participation in the NasdaCoin MLM opportunity requires a minimum $100 investment.
It’s been about two weeks since our last lending ICO Ponzi review but it seems the niche isn’t quite dead yet.
John Baptist’s apparent involvement in BitConnect makes sense, seeing as NasdaCoin is essentially a clone. Not withstanding the subtle attempt to evoke association with the NASDAQ stock exchange.
Whereas BitConnect came up with waffle about trading, here NasdaCoin don’t even try to hide the fact they’re just shuffling invested funds around.
Our investment program offers the possibility of obtaining up to 25% profit + a fixed daily bonus according to the value invested in the community.
This profit is paid daily in USD.
New affiliates invest and NasdaCoin use their investment to pay existing investors a ROI. That’s your basic Ponzi scheme model.
NasdaCoin’s referral and residual binary commissions add an additional pyramid layer to the scheme.
NSD points themselves are worthless outside of NasdaCoin’s MLM investment opportunity.
NSD itself is just another “me too” cryptocurrency. It has the typical “decentralized” marketing pitch and brings nothing new to the niche.
Despite this, NasdaCoin represent to affiliates it’ll double in price within 40 days.
Due to the great potential of the Affiliate System, we expect a minimum valuation between 100% and 200% in the first 40 days.
In short, NSD exists solely for John Baptist and whoever he’s working with to steal funds from gullible investors.
You’ve seen this play out in BitConnect and a whole host of ICO lending Ponzi schemes since.
Here we go again…