You might have come across a business opportunity called Dagcoin. Welcome to my review.
It’s always a good idea to do thorough research on any business before jumping on board.
I am not affiliated with this company. This review is from a third-party perspective and the idea is to help you make an informed decision on whether to join or if you are a new member, make the decision on whether to stay on or bailout.
The question you might be probably be asking is, is Dagcoin a scam or a legit business opportunity? Can you make some good money with the business? Well, let’s find out, shall we?
- Company Name: Dagcoin
- Website: dagcoin.org
- Owner: Nils Grossberg
- Price: Starting at $100
The world of cryptocurrencies is a mysterious one. There are people who believe you can make money with cryptocurrencies while others claim it’s a bubble about to burst open. The truth is hard to tell. Bitcoin has been around for over 10 years, so I doubt we will be seeing the demise of cryptocurrencies any time soon.
What is interesting is that as long as an idea to make money exists, there seems like there is always that one guy who will rebrand the idea into a multi-level marketing outfit. Dagcoin is one such company.
The companies founder is a gentleman by the name of Nils Grossberg. What gives me the jitters is that he was the same guy behind OneCoin which was later exposed as a Ponzi scheme.
Dagcoin has no real tangible products. The only product they have is money. Your money.
Once you put down your investment, the only way to make money is to get other people through the door. Dagcoin cannot be traded publicly and has no value out of the MLM opportunity. What that means is you cannot tell what the cryptocurrency is valued at unless you become an affiliate. That is a massive red flag.
Here is the other red flag. I came across a video of a very lovely looking lady giving her Dagcoin review on YouTube.
After a bit of research, I found out she was a paid actor on Fiverr. A lot of cheap programs do that, but for a company that claims to be better than Bitcoin, that is such a cheap shot.
How it works
A starter member has to invest a minimum of $100 and that gets you 100 dagcoins. The levels go up all the way up to $25000 where you receive 35000 dagcoins.
Any new affiliates who join under you will earn you a 10% commission.
What is interesting is that Dagcoin does not allow affiliates to touch their investment for a period of 8 months. During this period pays a 3% commission on your invested funds which is paid in dagcoins. After that period you can get half of your investment and the other is withheld for another 8 months.
Residual commissions are paid through a binary compensation structure, which means you recruit 2 people and those 2 recruits another 2 each and so on and so forth. Ther is no limit to how deep the levels can go.
I dont like going into details of compensation structures because you will need a need to be a math whiz to make head or tail of what’s going on. I doubt whether affiliates themselves can explain the whole thing. So I will leave it to this guy to break it down for you.
Pros and cons
In any business, there is always a positive and negative side to it. Let’s check out the pros and cons of the Dagcoin business opportunity.
I have been involved in network marketing and I know there are many success stories across the industry. Yes, you can succeed in this business if you have the right mindset and skill set.
Succeeding is however not a walk in the park. What can you use to convince people to invest in the business? You could pitch the training offered or the fact that they are better than Bitcoin, but with cryptocurrencies, it’s always open season. People will invest in the cryptocurrency that they have an interest in.
There is really not much to say that is great about Dagcoin.
Dagcoin is nothing more than a plain old MLM. Typically, most MLMs have products that dont mean much. The way to make money with Dagcoin when you recruit others to join the business. Your team is what really counts, not dagcoins. If Dagcoin was such a great form of cryptocurrency then it would be publicly listed. Why would you invest in a cryptocurrency which you have no idea of its value?
The fact that you cant touch your investment for 8 months effectively makes Dagcoin a pyramid scheme. It’s simply investing money in a phony idea so that others can do the same. There is no product or service. Just money changing hands. There are many places where bitcoin is accepted. I have never heard of a B2B that accepts Dagcoin.
As I was doing my research, I was shocked at the high number of negative reviews on the internet. I would keep as far away from Dagcoin as I can. They claim to have low transaction fees and are much faster than Bitcoin. From a third party perspective, I would love to see proof. They provide none of that.
Cryptocurrencies aren’t static. The value goes up and down depending on public interest. You can make or lose money.
What that means is if you invest $8000, which you are not supposed to touch for 6 months, the value could be less or more by the time you can spend your money. If the value is the same and you still earn the 3% commission on your investment, then someone needs to explain to you where the 3% commission is coming from.
They are either reinvesting your money as banks do, or you are caught up in a scam. The latter is more likely the case.
Most affiliates will tell you that this is not an MLM. Here is the deal. As long as you are being paid on different levels depending on who goes under your team, it’s as multi-level as it gets.
The fact of the matter is, multi-level marketing doesn’t work for the majority. And by the majority, I mean almost 99% of consultants, Most people make little to no income. Check out this article on Wikipedia, and you will understand what I am saying.
What really puts me off about Dagcoin is the shady connection Nils Grossberg has had with OneCoin which ended up swindling people millions of dollars, with some people ending up in jail.
Dagcoin is still around so let’s just sit back and see how it turns out. I just can’t foresee a bright future in it.
Can you build a business without recruiting
That is a resounding YES!
I would say one of the most effective and long term ways to make money selling products or services is through your own website.
You don’t even need to own the products to earn commissions with a website. A website is your connection between you and the billions of people connected on the internet. If you are looking for a true and tested way on how about you check out how I make money online without having to recruit.
Why run around chasing after people to join your opportunity and yet you can reach the billions of people who are connected on the internet today.
4.48 billion people to be precise at the time of writing this article and growing by the day.
MLMs are a waste of time. You really need to ask yourself whether you stand a chance to make money. If you feel you have what it takes then, by all means, go for it. If you don’t, just remember there are many other alternatives.
Many thanks for reading my review. If you have a question or a comment on the Dagcoin business opportunity, please leave it below. I would love to hear from you.
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Hi fellas. Thanks for dropping by. I am a graphic designer and also build websites for local businesses. I am also a member of Wealthy Affiliate. WA is a community-based training platform that truly delivers. It offers a variety of tools, training, and support, and best of all, it’s FREE to get started with. Check it out and see if it’s a good fit for you.