When it comes to crypto and coins the scams are really easy to spot, such as the Platincoin coin scam. As you might know crypto is hosted on the blockchain networks such as Bitcoin and Ethereum. Blockchain are public networks, well there private networks but all coins use public networks as the whole point is the trust this gives. So any coin created is visible to the public, and you can easily track the coin and the volumes of coins. You can of course not track the Platincoin as there is no such coin on any blockchain network. This simply means that there are no coins. If you paid 10 000 euro to mine this coin you paid for nothing. No mining take place. The setup is the same as the OneCoin scam used, and a wide range of other fake coins, for example SwissCoin.
We included SwissCoin as the man behind Platincoin was involved in the SwissCoin Ponzi as well, Alex Reinhardt. It is rather typical that top earners from these scams move onto setting up their own scams. Comparing SwissCoin and Platincoin there are things that suggest he might be behind both scams. But since we have no evidence of this people just need to make their own conclusions.
There is no real product. You buy coins, which give access to some online learning, but since this is about a coin that don’t exist the value of this learning is none. You can also buy mining packages from 107 euro up to 10 000 euro. As we already wrote, you will mine nothing, you pay for air.
Platincoin use a unilevel structure, distributors can recruit new affiliates for a 10% cut of any funds they invest in PlatinCoin.
Compensation can reach up to 11 levels deep, depending on how much money is invested in PlatinCoin.
Additional opportunities include a cash reward for certain downline investment milestones, ranging from a 100 Euro reward for generating 5,000 Euros in downline investment to a 1 million Euro reward for generating 20 million Euros in downline investment.
Platincoin coin scam conclusion
There is absolutely no doubt that this is a Ponzi scam. There is no evidence of their coin. It is not on any public blockchain network which all coins are – besides the scam coins. There are in fact scam coins also on the public blockchain networks, so keep this in mind.