Welcome to my Dagcoin Review!
When you’re looking for an easy way to earn money online, you can be easily tempted to join various companies. Multi-level marketing companies that sell health and wellness products, new digital technologies, and even cryptocurrencies.
You may have heard about cryptocurrency and how you can supposedly keep your digital “money”, transact with other entities, and even earn from it. Ever since Bitcoin started in 2009, a lot of people have tried to copy what they were doing and this includes Dagcoin.
What is Dagcoin? Dagcoin is considered as a “clone” of OneCoin since most of the process, claims, and compensation plan of the company is almost a clear copy of the latter company. There are no products to sell and all you have to do is make other people invest in Dagcoin. With the 8-months term lockdown of your invested money, there’s no doubt in my mind that this is another MLM scam.
Before we get started I would like to commend you on taking the time to do your due diligence so you don't get taken by all of the scams and rip-offs that are found everywhere on the internet.
That's how you find the legit way to make money online!
I would like you to know that I'm not in any way paid by or associated with Dagcoin. This is an honest review for the purposes of providing you, the consumer the information necessary so that you can make an informed decision on whether or not Dagcoin is for you!
So, what is Dagcoin about? Dubbed as a “clone” of OneCoin, Dagcoin provides its investors an opportunity to grow their digital “money” using their system.
In this article, I’ll be talking about Dagcoin. This includes how their process works, how you can join, and how you can earn by recruiting other people to invest.
Dagcoin Review Summary
Product Name: Dagcoin
Founder: Nils Grossberg
Product Type: Multi-level Marketing/Ponzi Scheme
Price: In order to become a Dagcoin member, all you have to do is invest at least $100 up to $25,000. Interesting thing is that they have no products to sell, you just have to invest.
Best For: No one
History of Dagcoin: A OneCoin Clone
Dagcoin was founded in late 2016 by Nils Grossberg (also the CEO) and Chief Visionary Officer Kris Ress. You’ll be able to find their head office in Tallinn, Estonia where you’ll see at least 70 people working for them, almost all of which are software developers.
Connection with OneCoin
The history of Dagcoin itself is not interesting at all, although, it’s a different story when it comes to its founder.
Nils Grossberg was once the top affiliate of OneCoin. Earning more than millions of dollars, Grossberg left the said company in early 2016 right before it collapsed bringing with him all his earnings and some people who were willing to do the same business with him again.
Before we dive a little deeper into Dagcoin, I believe it would be right if we go through a brief history of why OneCoin collapsed.
OneCoin was founded in 2014 by Dr. Ruja Ignatova, also known as the “cryptoqueen”. The company was able to “ride the tide” when Bitcoin was becoming famous all over the world. Although they also call themselves cryptocurrency, the company never had real currency with their so-called coins.
You can choose from different “educational packages” in order for you to join OneCoin. By buying the packages, you’ll get “tokens” wherein you can use or sell them in different affiliated markets or stores of the company. The overall campaign of the company was that they were better than Bitcoin and “banking the unbanked”.
Make Real Money Online! I Can Show You How With Affiliate Marketing.
Flashback to reality, in May 2019, the leading cryptocurrency investor law firm in the country, Silver Miller, has issued another lawsuit against OneCoin for reportedly scamming over $4 billion. Fun fact, the case is still on-going up until this very moment.
If you want to get the complete and summarized story of OneCoin, check out this article.
What’s weird about Dagcoin is that there are no products to sell at all.
The only products that you’ll see are the real money that you invest that converts into coins. With the use of their technology and markets, you’ll be able to use your coins in their affiliated markets.
This is already a red flag for me since we can’t really tell if the company is doing good or not. You would just have to believe whatever Dagcoin is telling you if you become an affiliate.
How Dagcoin Works
Becoming an affiliate of Dagcoin means that you have to invest in the company. The more money that you invest, the more your coins become and gain interest. So how much can you actually invest?
Below is a guide of much you can invest in Dagcoin:
After your investment, what can you do with your dagcoins?
For your first 8 months as an affiliate, you won’t be able to touch your investment.
Yes, you’ve read that right.
During your 8-month lockdown, you won’t be able to do anything with your dagcoins. The company’s point is that the cryptocurrency needs to be stabilized in order for it to work properly. The sudden movement and changes may mean that the market can collapse.
The great thing about this lockdown is that you get a 3% ROI on a weekly basis which means that you’ll see a major shoot up once you finish the 8-month lockdown.
When the lockdown is over, you will only be able to get the 50% on your “coins” and the remaining 50% will be on another 8-month term.
In order for you to earn aside from the 3% ROI, you must recruit other people to invest in Dagcoin and this will be monitored via binary structure.
For every personal referral, you’ll earn a 10% commission. With every commission that you earn, 35% of it must be reinvested to Dagcoin.
That’s it! The only way for you to earn from Dagcoin is through their 3% weekly ROI and the 10% commission from your downlines and the people that they recruit.
This is also a red flag for me. I’ve tried to look for the complete compensation plan guide of Dagcoin through their official website and youtube channel, but I just couldn’t find any hint regarding this topic.
Before jumping into becoming an affiliate in Dagcoin, it’s important that you know what are the tools that you can use during your membership. In this section, I’ll talk about the overall goal of the company and the tools that are available for you.
The Future of Currency
Dagcoin believes that cryptocurrency is the money of the future.
I actually find it amazing how Dagcoin was able to think about this since coming off from OneCoin. Here are 4 things that Dagcoin offers you if you become an affiliate.
Near-Zero Transaction Fees – Making transactions using cryptocurrency has charges and some may cost a lot. But if you use Dagcoin as your mode of paying transactions, their standard cost will be around 0.0005 dagcoin only.
Almost Instant Transactions – Most of the companies that offer cryptocurrency take a long time to process each transaction. Some may take a couple of minutes, others will be hours, and newbies will even take days or weeks.
Dagcoins, however, is proud to say that their transaction process only takes 30 seconds on average. Why do you ask? It’s because regular cryptocurrency companies have “miners” where different entities process the transactions in order for it to become “exchangeable”.
Meanwhile, Dagcoins have created their own “banking” so that their transactions will take less time. This is a red flag for me since we won’t know if their coins really have value because they are also the ones who are processing it.
You also have to remember that not all cryptocurrency has equal value in terms of real money. Currently, the Dagcoin price is £0.61 as of May 2020. You can check their updated dagcoin price and how they calculate it here.
Freedom to Transact – Dagcoin is proud to say that you can transact almost anywhere you want using their currency, but don’t take this too literally. Dagcoin has a limited number of merchants “around the world”, unlike Bitcoin which is why you won’t be able to use it in most transactions of yours.
You can check their affiliated merchants here.
Licensed Cryptocurrency – Yes, Dagcoin has government licenses for their cryptocurrency, but this is only limited in some countries which is why you need to make sure first that this is legal in your area before actually joining.
In order for a cryptocurrency company to succeed in this industry, they need to have the right technology and tools for their affiliates. Does Dagcoin have these all set?
DagWallet – Dagcoin is proud to show that they have their own personal DagWallet where you can timely hold, send, and receive dagcoins from other people.
WebWallet – Where can you check all the dagcoins that you have? On your WebWallet. Dagcoin has created this tool so that you can easily access all your dagcoins anytime and anywhere.
Core Tech – Dagcoin has created the DAG-chain to update and create other features or products that they offer.
Verify Once – This is a platform wherein you can check and verify all your downlines or affiliates in a fast and automated manner.
Payment Cards – Dagcoin has created Payment Cards so you won’t have to worry about paying if you don’t have an internet connection. By transferring your dagcoins to these cards, you can easily pay through NFC connectivity.
SMS Payments – These are used to pay for services and products by using a mobile phone through text messaging.
Check out the video that Dagcoin has presented to get the full view of their tools and technologies:
Is Dagcoin a Scam or Legit?
For now, I really see Dagcoin as a scam and a Ponzi scheme. The warning signs are everywhere.
First, the leaders of the company just came from OneCoin in which everybody knows as a Ponzi scheme and has lawsuits. Second, they don’t have any products to sell, unlike other MLM companies.
Third, you don't have any certain residual income. Fourth, the leaders of the company are the ones who were at the top of the Ponzi scheme.
And lastly, all the tools that they use like wallets and core technology are actually made by themselves so we can’t really be sure if it works as they say it is.
Affiliate Marketing Recommendation
Personally, I really don’t believe in the future of cryptocurrency. Not only is it not regulated by the government, but we don’t actually understand the overall capacity of it yet.
If you’re looking for ways on how you can have a residual income or investment at all, then I would suggest that you look at Affiliate Marketing and Wealthy Affiliate. Here are just some of the reasons why I did recommend these:
No start-up costs unlike in cryptocurrency
No recruitment just so that you can get an income
No products to sell
Complete training guide – from newbies to experts