Lyfcoin supplies no data on their web site about who owns or runs the corporate.
Lyfcoin’s web site area (“lyfcoin.membership”) was first registered in October 2017. The registration was final up to date with incomplete particulars in April 2019.
That is seemingly when the Lyfcoin’s present house owners took possession of the area.
An incomplete tackle in Estonia is supplied on Lyfcoin’s web site, suggesting the corporate is being operated out of Europe.
Supporting that is Lyfcoin’s phrases and situations, which state they’re “ruled by the legal guidelines in power in United Kingdom [sic]”.
As at all times, if an MLM firm will not be brazenly upfront about who’s working or owns it, assume lengthy and exhausting about becoming a member of and/or handing over any cash.
Lyfcoin’s Merchandise
Lyfcoin has no retailable services or products, with associates solely in a position to market Lyfcoin affiliate membership itself.
Lyfcoin’s Compensation Plan
Lyfcoin associates spend money on LYF tokens on the promise of marketed month-to-month returns.
- Entry License – make investments $100, obtain $100 price of LYF tokens and a 1% month-to-month ROI
- Starter License – make investments $250, obtain $250 price of LYF tokens and a 2% month-to-month ROI
- Explorer License – make investments $500, obtain $500 price of LYF tokens and a 3% month-to-month ROI
- Superior License – make investments $1500, obtain $1500 price of LYF tokens and a 4% month-to-month ROI
- Knowledgeable License – make investments $3000, obtain $3000 price of LYF tokens and a 5% month-to-month ROI
- Skilled License – make investments $6000, obtain $6000 price of LYF tokens and a ten% month-to-month ROI
- Enterprise License – make investments $12,500, obtain $12,500 price of LYF tokens and a 9% month-to-month ROI
- Founders License – make investments $25,000, obtain $25,000 price of LYF tokens and a ten% month-to-month ROI
Funding is locked for at least 5 months. Lyfcoin associates are in a position to proceed receiving returns for a most of twenty-four months.
Word that each one returns are paid in LYF tokens.
LYF token has an inside worth set by Lyfcoin itself.
On the time of publication Lyfcoin advertises a $1.60 inside LYF token worth on their web site.
Recruitment Commissions
Lyfcoin associates are paid a fee on funds invested by personally recruited associates.
Recruitment fee charges are decided by how a lot a Lyfcoin affiliate has invested:
- make investments on the Entry or Starer License tiers and obtain a 5% recruitment fee charge
- make investments on the Explorer License tier and obtain an 8% recruitment fee charge
- make investments on the Superior License or increased tiers and obtain a ten% recruitment fee charge
Residual Commissions
Lyfcoin pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the prime of a binary workforce, cut up into two sides (left and proper):
The primary degree of the binary workforce homes two positions. The second degree of the binary workforce is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary workforce are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary workforce are crammed by way of direct and oblique recruitment of associates. Word there isn’t any restrict to how deep a binary workforce can develop.
On the finish of every day Lyfcoin tallies up new funding quantity on each side of the binary workforce.
Associates are paid 10% of funds invested on their weaker binary workforce facet.
As soon as paid out on, quantity is matched with the stronger binary workforce facet and flushed.
Any leftover quantity on the stronger binary workforce facet is carried over into the next day.
Becoming a member of Lyfcoin
Lyfcoin affiliate membership is tied to the acquisition of a license:
- Entry License – $100
- Explorer License – $500
- Superior License – $1500
- Founders License – $25,000
The distinction between the licenses is earnings potential by way of Lyfcoin’s compensation plan.
Conclusion
Lyfcoin represents it generates exterior income by way of
staking (and) evaluation of latest ERC-20 sensible contract and subsequent account administration for retailers.
This begs the query that in the event that they’re already engaged in such actions, what do they want your cash for?
The reply is the one verifiable income getting into Lyfcoin is new funding.
Consider Lyfcoin as a cellular app token Ponzi scheme, with out the cellular app… (but).
Lyfcoin’s nameless admins generated 120 million LYF tokens out of skinny air. They’re not offloading these tokens onto gullible Lyfcoin buyers for $1.40 a pop.
That worth can also be plucked out of thin-air.
The Ponzi factor of the enterprise kicks in by the use of paying returns in LYF tokens (once more without charge to Lyfcoin’s admins).
Thus a Lyfcoin affiliate acquires extra LYF tokens than they initially invested in.
Conversion to fiat occurs in Lyfcoin’s inside alternate. Both Lyfcoin associates purchase up withdrawal requests or, extra seemingly, Lyfcoin recycles beforehand invested funds to pay them.
Both approach all cash circulated inside Lyfcoin is inside.
Thus Lyfcoin’s enterprise mannequin is a hybrid Ponzi pyramid scheme.
Lyfcoin holds its worth as a result of we now have not been on any main exchanges but.
The exit-scam for such schemes usually sees hype bombs dropped, an inventory on some dodgy public alternate after which the admins doing a runner.
Victims of the scheme are left holding nugatory tokens, the general public worth of which promptly plummets in direction of $0.
Though denial runs deep all through the MLM cryptocurrency area of interest, customary Ponzi guidelines nonetheless apply:
The one individuals who earn cash in Ponzi schemes are early buyers and people working them.