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This review is all about the CoinMD. Do you want to know if this company is legit or just a scam? Are you wondering if you can earn from this opportunity? Well, I suggest that you read this review in order to clear your doubts about it.
Company Name: CoinMD
Owner: Thomas McMurrain
Price to Join: $29.95 (Minimum Admin Fee)
My Rating: 5.9 out of 10.0
CoinMD claims to be a universal healthcare marketplace that accepts cryptocurrency. It also claims to be the Bitcoin of healthcare making it possible to get healthcare and generate wealth at the same time.
You can pay for your healthcare by using their wallet as well as protect your medical data with full encryption. The CoinRewards are generated through your healthcare data.
I will explain how you can earn from this opportunity in the next section of this review.
Thomas McMurrain is the CEO and founder of this organization. He has a shady past with involvement in the OneCoin Ponzi scheme. He was a promoter, and he had invested money in the OneCoin Ponzi scheme. He has been known to scam people from time to time. You can find plenty of information about him if you do a quick search on the internet.
In this CoinMD review, I will help you decide if this is a scam or not.
With the shady past of the founder, this opportunity is not looking very promising. However, the compensation plan may pleasantly surprise you.
You are paid 70% commission credits or cash credits and 30% CoinRewards through the compensation plan.
Now let us take a look at the different ways of earning money from the compensation plan of this company.
You will have to enroll for the CMD01 or higher to earn this bonus. There are three different parts of this bonus, which are called X1, X2 and X3. The X1 Bonus can be earned by enrolling CMD01 or higher in your left as well as your right team within your first 15 days.
In simple words, you will have to recruit two people at a certain level to earn the X1 Bonus. It will pay you $500 in commission credits and CoinRewards.
X2 Bonus is paid when you help the two people that you recruited earlier in recruiting their first two people at the CMD01 or higher level. You have to do this in your first 30 days to earn this bonus. This bonus will pay you $1,000.
The X3 Bonus will pay you 100% bonus on the CoinRewards that you earn within your first 30 days.
If you earn 500 CoinRewards in your first 30 days, then this bonus will double it to 1,000. You can redeem the CoinRewards for CoinMD cryptocurrency.
When you refer someone personally, then you will receive a 10%-30% Direct Referral Bonus.
This bonus depends on your rank. When you advance to a higher rank, the percentage of bonus will increase by 5%.
This bonus is paid to you for advancing in the ranks. Following are the ranks and the amounts of bonus paid on those ranks.
Legionnaire Q: $500 if you achieve it in your first 15 days
Your team will be divided into two parts, and they will be called your left and your right team. This bonus is paid on the sales volume of your weaker team to unlimited levels.
Even if your weaker team has thousands of people, you will earn on the sales volume generated by all of them. The weaker team will be the team with the lesser sales volume.
This bonus will pay you 10% on the sales volume of your weaker team. The excess volume from the stronger team is carried forward.
There is one more bonus, which is the Leadership Bonus. It is a percentage of the binary commissions earned by people in your downline up to 4 levels deep.
The commissions credits that you earn from the compensation plan can only be used to purchase membership codes. You can sell the membership codes to new members or to upgrading team members.
This means that you are not paid cash directly, but you are paid only when you bring someone in or convince someone to upgrade. This clearly shows that this opportunity is all about recruiting.
You are also paid 30% CoinMD cryptocurrency like I mentioned before. The problem is that the value of this cryptocurrency is questionable.
If you want to join in CoinMD, you have to pay a minimum admin fee of $29.95 for the eWallet. There are various membership types, and there is a free membership as well. However, the free membership will limit your earnings.
The cheapest paid membership costs $250, which is high. The most expensive membership costs $5,500, which is very expensive.
The fact is that your earnings will depend on the membership that you buy. The expensive memberships will allow you to earn more money from the compensation plan.
Keep in mind that there is also a renewal fee of $199 for all paid memberships.
Honestly, I don’t think that you will earn anything worthwhile from the CoinMD cryptocurrency. This currency is not publicly tradable as it can only be traded on the CMDX, which allows members to buy and sell CoinMD.
With the history of the owner and the lack of transparency, it is very hard to trust that this cryptocurrency will actually increase in value. Maybe, the owner is manipulating the price of the cryptocurrency behind the scenes.
So, you can’t expect to do well by acquiring a lot of cryptocurrency from the compensation plan. The commission credits can only be redeemed by recruiting people or making them upgrade their membership.
All of the ways of earning money from the compensation plan are about recruitment. In short, this is a Ponzi scheme, which pays money on the recruitment of others.
Eventually, all Ponzi schemes collapse and a lot of people lose their money. Even if you are lucky enough to not lose money, you will not make a lot without convincing a lot of people to join.
You will have to keep recruiting and encourage people to recruit to do well.
This is an illegal scheme, so it would be unethical to recruit people in this scheme.
Yes, I have listed some complaints below.
CoinMD is a scam or a Ponzi scheme in my opinion.
All the evidences point to only one thing and that is that this is a scam. I would never recommend getting involved in a scam. I still leave the final decision in your hands. Good luck and choose wisely.
It seems like you want to invest your money and time in CoinMD because you are eager to have a new source of income. It also feels like you are already tired of not earning that much money from your current day time job.
But let me tell you that this type of business is not yet tested and proven. The earning potential maybe appealing but if you don’t really understand how the business works then you might face some problems in the future.
On the other hand, if you are still looking for new source of earning, then you can also take a look into my personal choice. My best suggestion would be through making your own online business with a support from community. Basically it is a modern way of making money. And it doesn’t require any selling.
Right now, I am on my third year in this type of business and I am already enjoying the fruits of my labor. So, I want to share my success with you.
If you have more questions and concerns about CoinMD, feel free to comment it below and I would be glad to interact with you.
Let me hear your experiences on the comments below!
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