Welcome to my Beep XCoin Review!
There has been some vibe about the company so I decided to look deep into it and find out what it was all about…
Some say it’s legit while others call it as scam, but I am going to put all the rumors to rest…
In this blog post, I am going to walk you through the company, products and compensation plan so you can make the right decision.
Beep XCoin Review – The Company
When talking about Beep XCoin, we first need to take a step back in time to late 2013. This is when the company Beep Xtra launched, and it was an e-commerce platform that was being used to funnel affiliates into the pyramid scheme Karatbars International.
However, Beep Xtra didn’t have a very long lifespan at all.
The whole setup here collapsed in 2014, and the middle of this year saw Beep Xtra offering its affiliates securities that were unregistered.
This was a last attempt to keep things alive, and it worked right up until the beginning of 2016.
Despite already failing with its second attempt at staying alive, Beep Xtra is back at it once again under the name of Beep XCoin. However, rather than focusing on unregistered securities or funnel people into a pyramid scheme, Beep XCoin is all about cashing in on the ever-popular cryptocurrency niche that’s currently very hot in the MLM underbelly.
Xcoin Product Line Review
On the product line side of things, Beep XCoin sells four main packages to customers.
The packages being offered supposedly have to do with the mining of cryptocurrency through the company, and they look like this —
The first package costs $500 and has a two-year contract
The second package costs $1199 and has a two-year contract
The third package costs $2299 and has a two-year contract
The fourth package costs $10,000 or more and has a contract that’s negotiable by the buyer
When you buy into one of these packages, you’re apparently buying into a system in which you’ll be able to earn an ROI off of the mining of Beep XCoin and other legitimate cryptocurrencies.
Both retail customers and affiliates for Beep XCoin can purchase into these packages, and choosing to dump more and more money into them results in being able to earn more cash from the mining activity.
Beep XCoin Compensation Plan
Looking at the compensation plan that Beep XCoin is running, affiliates for the company earn through both the mining packages and by recruiting other people to join and buy into them as well.
On the recruitment side of things, affiliates can earn between 7% and 20% for a commission depending on how many people they recruit into the opportunity.
Initially, affiliates earn a recruitment commission of 7% if they recruit between 1 and 7 people into Beep XCoin. Get that number up to 8 through 19 recruits, and you’re looking at the commission being raised to 14%.
In order to get the full 20% recruitment commission, you’ll need to recruit a minimum of 20 total affiliates into Beep XCoin.
As for the commissions that are paid out through the mining packages, affiliates earn a commission of 7% for selling these packages to retail customers that are not involved with the Beep XCoin income opportunity.
If you’re interested in what Beep XCoin has to offer, you’ll need to pay the standee membership fee of $149 upfront and then a recurring monthly cost of $50 after that.
Additionally, you’ll also need to purchase one of the mining packages. This means that on top of the $149 upfront and $50/month, you’ll also have to shell out another $500 minimum in order to start earning with the company.
Is Beep Xcoin Actually Legit Or A Scam?
Any time a new business opportunity launches, you will always hear rumours about them being scams – so is Beep XCoin a scam?
From reading above, you might already be thinking Beep XCoin is a scam.
So, is it?
Is there a Beep XCoin scam, or is it legit?
To be honest, Beep XCoin isn’t a complete scam .
Beep Xcoin Conclusion
Beep XCoin is the latest MLM opportunity trying to make it big with the world of virtual cryptocurrency, but there are some major flaws throughout the opportunity that I’ve seen time and time again with other scams that are trying to make it big in this field.
For starters, Beep XCoin is not tradable on the public market whatsoever. The currency only has any value within the compensation plan itself, so affiliates and retail customers are essentially buying into yet another worthless form of currency.
From there, affiliates for Beep XCoin will likely spend the majority of their time recruiting other affiliates to join the opportunity as that’s where the majority of the earnings are to be had. Retail commissions are stuck at the 7% market, but these can go up to 20% if you focus solely on recruitment.
There’s simply nothing attractive about Beep XCoin, and just like Beep Xtra before it, it’ll likely shut down and collapse once recruitment and investment activity eventually dies off.
Only the anonymous admin(s) behind Beep XCoin will end up earning any money, and while this is typically true for schemes of this nature, the point is even more prominent here when you look at the outrageous buy-in cost to get started with the opportunity.
In short, don’t waste your time with Beep XCoin.
I hope you have gained value from my Beep XCoin Review.
Any comments or questions can be sent below.