DavorCoin, which claims to be the best alternative to the successful coins such as Bitcoin and Ethereum, has not provided any information on their website about the founders of the company. The domain davor.io was registered privately confirming that the person who owns the company, does not want to be known.
The company was started recently, and the domain was registered on 18th October 2017. If you would check the website of the company, you would find French and English as the only languages which suggest that the founder of the company is based out of Europe.
There is no other product apart from affiliate recruitment program that was verifiable on the website with the information provided on the website. You can join the affiliate program for free with DevorCoin to enjoy the referral commission. However, to participate into the full program, you need to invest at least $100.
It is wise to stay away from the companies that are not transparent. An MLM company which hides the vital information from its affiliates, is much likely a scam.
DavorCoin – Compensation Program
DavorCoin promises high ROI daily for the fund invested. There are various plans for the different amount of funds invested.
- Plan 1: You need to invest $100 – $1000 for receiving daily ROI for 299 days
- Plan 2: You need to invest $1001 – $5000 for receiving daily ROI as well as 0.1% bonus for 239 days
- Plan 3: You need to invest $5001 – $10,000 for receiving daily ROI as well as 0.2% bonus for 179 days
- Plan 4: You need to invest $10,001 – $25,000 for receiving daily ROI as well as 0.25% bonus for 119 days
- Plan 5: You need to invest $25,001 or more for receiving daily ROI as well as 0.35% bonus for 89 days
DavorCoin – Referral Plan
The referral plan at DavorCoin is followed by a unilevel compensation structure. In a unilevel structure, one affiliate is positioned at the top of the hierarchy and the personally recruited affiliates are placed directly under them.
For example, if an affiliate on level 1 recruits affiliates, they would be position at level 2. If level 2 affiliates recruit new members, they would be placed on level 3, directly under those who recruited them and so on.
The cap is put on level 5 and the commission is paid through a percentage of amount invested.
- Level 1: 8%
- Level 2: 4%
- Level 3: 2%
- Levels 4 and 5: 1%
Owusu S Derkyi – 5 star
Jewel Rana – 5 star
Conclusion from the above Reviews
These are the facebook reviews of the company and as you can see, there is nothing mentioned about the review. If both the persons above have earned profit from the company, then why they have not mentioned about it. Even if these are not staged, we cannot trust on reviews that are blank and have no further explanation.
DavorCoin claims that it is started with a mission to become one of the best alternative for the existing coins such as bitcoin and Ethereum. The company was recently started and such a claim without a great business plan, seem to be flimsy and has no grounds.
DavorCoin are pre-mined by the owners who are anonymous which is same as the Dekado ICO. These coins are mined for investment by the affiliates. Finally, the affiliates lend back these coins to the company for the ROIs.
The company promises an interest rate of 48% every month and the interest rates recently publicized on the website for last 5 days are as below:
- 18th December: 1.6%
- 19th December: 1.71%
- 20th December: 1.75%
- 21st December: 1.02%
- 22nd December: 1.13%
The real world application of DavorCoin is yet to be explained. Till date, its value outside of the platform is worthless. The reports from around the world are also pretty disappointing. The public trading started on 18thDecember and in a week’s time, the worth of the coin has decreased from $23.87 to less than $16.
In addition, with the lack of verifiable source of revenue, we are left with only the MLM opportunity with the company which makes it a Ponzi Scheme. With said this, the company is using the funds invested by the new members to pay the existing ones.
Alexa estimated that the highest source of traffic is coming to the website from US and being said that the company is providing passive investments to its clients, it should be registered with the SEC to provide securities to the US residents.
However, I couldn’t found its listing on the database of SEC Edgar.
The company has taken a stand saying that the tax and regulation risk have limited their official declaration in few countries. However, if it wants to operate with the law, it needs to register itself with the related bodies.
The game that is happening behind the screen is pretty straight forward. Once, the company would be having enough investors coming every day, they would continue paying their affiliates. Once, the recruitment would freeze, they would also shut down their ROI scheme without notice.
Huge majority of the investors will be left out, dried. The owners who are yet to disclose their identity, which is never going to happen, would run away with the left amount. Making a big revenue out of the hard earned money of the investors.
Hence, I would suggest to keep distance from a company that is not true about its operation. DavorCoin is operating under the pyramid scheme and as we all know, the fortune of these schemes does not end with at the sweeter side, investors need to give it a thought.