Crypto currency is an excellent technology but schemes like Trade coin club are making them ugly in the eyes of general people. After being a member of TCC, I studied the system, and now I believe that TTC is making us corrupt and liars. In this blog, I will show you why you should never invite your friends and family to invest in trade coin club.
Trade coin club business model is based on the pyramid scheme. In pyramid model, the company recruits people by promising payments and services for enrolling others into the system. In history, there are many examples of such schemes that end up pretty badly. Therefore, in many countries pyramid schemes are illegal.
These schemes collapse quickly because as recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable.
BurnLounge, Inc. was a multi-level marketing online music store founded in 2004 and based in New York City. By 2006 the company reported 30,000 members using the site to sell music through its network. In 2007 the company was sued by the Federal Trade Commission for being an illegal pyramid scheme. The company lost the suit in 2012, and lost appeal in June 2014. In June 2015, the FTC began returning $1.9 million to people who had lost money in the scheme. TVI Express, operated by Tarun Trikha from India has apparently recruited hundreds of thousands of "investors", very few of whom, it is reported, have recouped any of their investment. In 2013, Tarun Trikha was arrested at the IGI Airport in New Delhi. The Social trade Ponzi scam operated between two thousand fifteen and two thousand duped five seventy nine million dollars from nearly 7 hundred thousand people through an online portal ‘socialtrade.biz’. Within one year investors stop receiving payments and the system collapsed. There are hundreds of such scams you can find online.
So if your credibility and respect is very important to you. It is highly recommended that you do not invite others. There is a high chance that at the end of your trade cycles the company stops withdrawals or site is down. What ever the reason your will be the part of the fraud that was committed to your friend through your invitation. If you became the part of network that is selling the packages, you might end up in jail. Because pyramid schemes are illegal in many countries.
There are no financial gains in the end of TTC trade cycles due to various reasons. But, in a nut shell, the main reasons are deductions of your initial deposit and trade money at multiple levels and at the end, you left with no profit. Moreover, after 8 months if you do not upgrade the software you are finished.
