iCoinPro operate in the cryptocurrency MLM niche and, according to its affiliate policies and procedures, is based out of Texas in the US.
The State of Texas is the place of the origin of this Contract and is where the Company accepted the offer of the Applicant to become a Distributor and where the Distributor entered into the Contract with the Company.
Heading up iCoinPro is Founder and CEO, Paul De Sousa (right).
Known for his dedicated leadership and training abilities to help others in the network marketing industry, along with his vast knowledge, understanding, and experience utilizing Bitcoin and Cryptocurrencies in various capacities, nobody has more passion and enthusiasm for iCoinPro than our CEO, Paul De Sousa.
According to De Sousa’s Facebook profile, he is based out of Johannesburg, South Africa. iCoinPro’s connection to Texas is thus unclear.
De Sousa has a long marketing history, with this crossing over into providing leads for various MLM opportunities.
Since at least mid 2016, De Sousa has been promoting Gain Bitcoin. BehindMLM reviewed Gain Bitcoin earlier this month and concluded it was a combination of pyramid recruitment and suspected Ponzi fraud.
Read on for a full review of the iCoinPro MLM opportunity.
iCoinPro bill themselves as a ‘source for education, information, and training on everything cryptocurrency.‘
From understanding Blockchain technology, and what different cryptocurrencies can be used for, to buying your first Bitcoin, and keeping you up to date on changes, news, and updates, iCoinPro is the most complete Bitcoin and Cryptocurrency training program available anywhere.
iCoinPro training is available via a $39.95 a month membership.
The iCoinPro Compensation Plan
The iCoinPro compensation plan pays affiliates based on sales of the $39.95 membership retail customers and recruited affiliates.
Note that to qualify for commissions, an iCoinPro affiliate must generate at least 40 PV a month (one $39.95 monthly subscription).
This subscription can be self-purchased or a retail customer membership sale.
iCoinPro Affiliate Ranks
There are six ranks within the iCoinPro compensation plan.
Along with their respective qualification criteria, they are as follows:
- unranked affiliate – sign up as an iCoinPro affiliate and be commission qualified
- 1 Star – sell at least three $39.95 monthly memberships to retail customers or personally recruited affiliates
- 2 Star – maintain at least twenty $39.95 monthly memberships across your downline (includes personal sales, no more than eight counted from any one unilevel leg)
- 3 Star – maintain at least one hundred $39.95 monthly memberships across your downline (includes personal sales, no more than forty counted from any one unilevel leg)
- Star Elite – maintain at least five hundred $39.95 monthly memberships across your downline (includes personal sales, no more than two hundred counted from any one unilevel leg)
- Star Presidential – maintain at least five thousand $39.95 monthly memberships across your downline (includes personal sales, no more than two thousand counted from any one unilevel leg)
When iCoinPro affiliates and retail customers sign up they are placed in a straight-line queue.
The queue is filled position by position, based on the order retail customers and affiliates signed up.
An iCoinPro affiliate is able to earn on up to five Powerline positions below them.
A 3% commission paid out of the monthly $39.95 membership fee paid by affiliates and/or retail customers in these five positions.
Fast Start Bonus
iCoinPro affiliates earn a Fast Start Bonus when retail customers and affiliate sign up for the $39.95 monthly membership.
The Fast Start Bonus is paid out on up to five levels of recruitment (retail customers stop at level 1), based on iCoinPro affiliate rank as follows:
- unranked affiliates earn $10 on level 1 (personally recruited affiliates)
- 1 Star – $15 on level 1 and $5 on level 2
- 2 Star – $20 on level 1, $5 on level 2 and $3 on level 3
- 3 Star – $25 on level 1, $5 on level 2, $3 on level 3, $2 on level 4 and $1 on level 5
A Fast Start override commission is paid out to the first three 3 Star Elite and higher ranked upline affiliates as follows:
- first Star Elite upline affiliate earns $2 and the second and third earn $1
- three Star Presidential upline affiliates earn $1 each
iCoinPro pay residual commissions via a 2×14 matrix.
A 2×14 matrix places an iCoinPro affiliate at the top of a matrix, with two positions directly under them:
These two positions form the first level of the matrix. The second level of the matrix is generated by splitting these first two positions into another two positions each (4 positions).
Levels three to fourteen of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
Positions in the matrix are filled via affiliates and retail customer purchases of the $39.95 monthly membership. This follows the same Powerline structure used to pay Powerline commissions (see above).
iCoinPro pay matrix commissions are paid out as a percentage of membership fees paid each month as follows:
- unranked affiliates and 1 Star – 2% on levels 1 to 4 and 2.5% on levels 5 to 10
- 2 Star – 2% on levels 1 to 4 and 2.5% on levels 5 to 12
- 3 Star – 2.5% on levels 1 to 14
iCoinPro pay a matching bonus on downline matrix commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
iCoinPro cap the matching bonus at six unilevel levels.
How many levels an affiliate is paid the matching bonus on is determined by rank:
- unranked affiliates earn a 10% match on level 1 (personally recruited affiliates)
- 1 Star affiliates earn a 20% match on level 1
- 2 Star affiliates earn a 30% match on level 1 and 10% match on level 2
- 3 Star affiliates earn a 40% match on level 1, 10% match on levels 2 and 3 and 5% match on level 4
- Star Elite affiliates earn a 50% match on level 1, 10% match on levels 2 and 3, 5% match on level 4 and 3% match on level 5
- Star Presidential affiliates earn a 60% match on level 1, 10% match on levels 2 and 3, 5% match on level 4, 3% match on level 5 and 2% match on level 6
iCoinPro affiliate membership is $40.
If an affiliate chooses to self-qualify for commissions, they must also purchase a $39.95 monthly iCoinPro membership.
It’s pretty obvious that iCoinPro are focused on marketing the income opportunity over whatever training is bundled with $39.95 monthly membership fees.
The iCoinPro compensation plan is provided in full on the company website, yet specifics of the cryptocurrency training are not.
That and there currently doesn’t appear to be any way to sign up as a retail customer. The only join button available at the time of publication is for that of an iCoinPro distributor.
That said, at least according to the iCoinPro compensation plan, it is possible to sign up as a retail customer. And that needs to be taken into consideration when evaluating the business opportunity.
The good news is establishing whether iCoinPro’s retail memberships are pseudo-compliance or not is easy.
As a prospective iCoinPro affiliate, all you need to do is ask your potential upline affiliate for the retail sales receipts the company requires them to keep:
A Distributor is required to keep all records of Retail Sales for at least four years and compliance with Retail Sales requirements of the Company is randomly monitored by the Company.
If your potential upline is new, you could go an extra step further and ask them to get retail receipts from their upline.
What yout want to see is more retail memberships sold than recruited affiliates purchasing memberships.
If your potential upline can’t provide more retail membership receipts than they have recruited affiliates, it’s a safe bet iCoinPro is operating as a pyramid scheme.
iCoinPro operating as a pyramid scheme would see the majority of memberships sold purchased by affiliates.
This demonstrates a lack of retail viability with iCoinPro’s training, meaning it is in fact the business opportunity itself being marketed and sold.
What that means for you as a potential affiliate, is that when the initial recruitment hype dies down you’re going to lose money.
Or as iCoinPro put it in their affiliate policies and procedures;
Most Distributors earn less money each month in the compensation program than they are paying for their membership.
Having perused iCoinPro affiliate marketing efforts out there myself, I’m pretty confident retail activity company-wide is insignificant.