Update OneCoin 2017: Since writing this article a long time ago, a lot more has come out now. And it's looking more and more like Onecoin might actually be some kind of scam. So be very careful. The rest of the article below is older.
In 2016, 2017 the big breaking mlm news topic online in the network marketing world has been around a new network marketing company called OneCoin and it's counterpart OneLife. They are a network marketing company involved in the Cryptocurrency industry, and competing with Bitcoin and others. The company claims to offer financial education products, and claims that they're eventual goal is to attempt to take mainstream "OneCoin" (which is there version of Bitcoin).
There's been an awful lot of speculation both for and against OneCoin and OneLife. But we believe at this point there's one thing we know for sure there's both people claiming adimently that it's a scam, while others are trying to claim it's the greatest thing since sliced bread. The reality is simple and it boils down to this one statement which is: "it's too soon to tell", but that being said it's buyer beware and it might be almost too late by this point to safely get in on it. That's all it is. till, though it's a hot patato, so one would have to be extremely careful with this if they were considering joining it. Eventually they claim they wan to attempt to repace Bitcoin as the new standard in the Cryptocurrency industry, or there's always the risk that OneCoin and OneLife could be a scam like some are speculating. However, again, in all fairness, I don't believe that OneCoin should be labled as a scam just because there's been some concerns here or there.
At this point we don't think there's any solid proof at all that they're any kind of a scam (none we're aware of). But infact the company has appeared to really have gone the extra mile in working diligently toward building a strong reputation as a leading up and coming network marketing company and home based business opportunity. So is OneCoin / OneLife a flash in the pan???
That being said, the structure of the business model is very speculative. So it's very hard to tell at this point what were actually looking at here with the OneCoin mlm opportunity. I think one would have to be very careful with this, it's a bit of a hot patato.
Are some going to get rich off OneCoin? Clearly some already have. Some of the names above inparticular, which are some of the OneCoin founders. businessforhome.org - a popular Direct Selling Facts and figures website claims that OneCoin leaders are making between $200,000.00 all the way up to over $4 million per month. However, these are mainly the founders of the company. And likely in no way represent earning of the rank and file in the OneCoin network marketing opportunity. That being said it's very hard to say what the rank and file have actually earned.
However, there is one thing that the MLM industry is seeing more and more of, and that it should start to get use to. Which is simply that we are now living in the era of high speed connectivity. This can cause the growth of a new network marketing company like OneCoin / OneLife to grow huge literally overnight.
With downline members sharing the opportunity over popular social media such as Facebook and Twitter, in no time at all any new network marketing opportunity can start to spread at an alarming pace. Unlike the days of the Amway, Watkins, and Kleeneze companies where things happened at the pace of snail-mail.
These days it really isn't that uncommon or shouldn't be that much of a shock when the rep's of a company like OneCoin happens to take over the: Top 200 Worldwide Earners In MLM, charts. And this isn't the first time this has happened in recent years. A similar trend happened just a few years ago with the Empower Network in 2013 and 2014 when they had spread virally across the web and were all the rage in MLM.
So we are starting to see a trend more and more of new MLM industry companies with hot new products like OneCoin (onecoin.eu) that will spread extremely fast and grow to soaring new levels of success. But like anything there are risks. Anything that hits a parabollic curve (it's trending up fast) in it's trend needs to be looked at with extreme caution, because if you're trying to get onboard too late you could be the one who eats his shirt in the end if it comes crashing down. As generally following a parabolic curve up, comes a flash crash down to the bottom. But like with any business venture, no risk no reward.
In Conclusion we feel that OneCoin has a strong possibility of being some kind of a scam. The main reason is you don't actually get OneCoins. Onecoins at this moment don't even actually exist from what we understand. And even if they did you can't actually buy anything with them in the real world (like the way you can buy stuff with Bitcoin which makes it legit). But so far both of there websites OneCoin and it's counterpart OneLife are both still online. It's hard to say if they will remain in business or if we're just jumping to conclusions based on what others are saying. So it's hard to know for sure. But in reality I think it's reasonably safe to suggest people don't get involved in Onecoin at least until more data comes out. ie: lets says they launch OneCoin officially, it's then traded on the currency exchanges, and people start buying and selling real goods with it (which is still a minor possiblity) then at that point maybe take another look at it. But until then it's extremely risky, and we'd suggest you hold off on getting involved with OneCoin.
But if by some miricle they are able to pull off the idea of getting Cryptocurrency more into the main stream, it literally could revolutionize the financial industry as we know it. It could be a real game changer. But again, as to whether they're some kind of scam or fraud, is too soon to tell, but still stay away until it's known for sure. However, anyone getting involved at this point really should proceed with some level of caution and careful duediligence (so in our opinion it's Buyer Beware).
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