QatarCoin Review: QTC points ICO lending Ponzi
QatarCoin provide no information on their website about who owns or runs the business.
The QatarCoin website domain (“qatarcoin.co”) was privately registered on November 19th, 2017.
Despite the name, it appears QatarCoin has nothing to do with Qatar.
At the time of publication Alexa estimate Nigeria (20%) and India (11%) are the top two sources of traffic to the QatarCoin website.
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.
QatarCoin has no retailable products or services, with affiliates only able to market QatarCoin affiliate membership itself.
The QatarCoin Compensation Plan
QatarCoin affiliates acquire QTC points from the company’s anonymous owners.
QTC points are sold to QatarCoin affiliates for 40 cents to $1 each.
Once acquired, QTC points are “lent” back to QatarCoin on the promise of a variable daily ROI:
- invest $100 to $500 and receive a daily ROI for 240 days
- invest $510 to $1000 and receive a daily ROI plus bonus 0.1% daily ROI for 210 days
- invest $1010 to $5000 and receive a daily ROI plus bonus 0.2% daily ROI for 180 days
- invest $5010 to $10,000 and receive a daily ROI plus bonus 0.25% daily ROI for 120 days
- invest $10,010 to $100,000 and receive a daily ROI plus bonus 0.3% daily ROI for 90 days
- invest $100,010 or more and receive a daily ROI plus bonus 0.35% daily ROI for 60 days
QatarCoin pay referral commissions 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.
QatarCoin cap payable unilevel levels at five, with commissions paid out as a percentage of funds invested across these five levels as follows:
- level 1 (personally recruited affiliates) – 8%
- level 2 – 3%
- level 3 – 1%
- level 4 – 1%
- level 5 – 0.5%
QatarCoin affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the QatarCoin MLM opportunity requires a minimum $100 investment.
That however hasn’t stopped anonymous scammers from trying their luck.
Unfortunately for them, after having been scammed over and over again in ICO lending Ponzi scams, the pool of gullible investors willing to invest is pretty small.
This can be evidenced firsthand by QatarCoin slashing their initial asking price of 40 cents per QTC point to just 5 cents:
QatarCoin claim to generate external revenue through “state-of-the-art arbitrage and trading algorithms”.
There is of course no evidence of any such algorithms existing, nor any trading history of anyone connected to QatarCoin.
New investment is the only source of revenue entering QatarCoin. Using newly invested funds to pay existing affiliates a daily ROI makes QatarCoin a Ponzi scheme.
Referral commissions on invested funds add an additional pyramid layer to the scheme.
Lending ICO Ponzis like QatarCoin play out as follows:
Admins (who are typically anonymous) offload worthless pre-generated points in exchange for real money. In this case it’s QTC points.
QatarCoin’s admins then use some of this money to pay promised ROIs for as long as new affiliates sign up.
Once affiliate recruitment dries up so does QatarCoin’s ROI reserve.
When a predetermined threshold is reached, QatarCoin’s anonymous admins do a runner with what’s left.
Early QatarCoin investors make a bit of money (mostly via recruitment of new investors). But same as any other Ponzi scheme, the reality of such scams is that the majority of participants eventually lose money.