E-Dinar Coin Review – What Is E-Dinar Coin? Is It Real or Just a Scammer’s Plot to Steal Your Money?
What is E-Dinar Coin? E-Dinar Coin (EDC) is a relatively new crypto-currency with an issuance of 22 Billion of E-Dinar Coin and distribution of 20% reward each month for its members until 2022. The ROI does sound really attractive. However, is it real or just another scammer’s plot to steal your hard earned money? Read on to find out.
What is the E-Dinar?
Website address: edinarcoin.com
Referral commission: 2.5%-25% of referral deposits
Overall Rank: 1 out of 100
Status: Check HYIPreview.org
First of all, E-Dinar (EDR) is an internal cryptocurrency operating on a closed blockchain. It is controlled by the members of the online community themselves, its users all over the world.Upon numerous requests from the participants of the community, E-Dinar launched E-Dinar Coin (EDC) cryptocurrency, that already has an open code allowing to trade with EDC on external exchanges.
EDC has been marketed as a virtual cryptocoin, based on the cryptocurrencies, with a private blockchain. It is furiously promoted by edinarcoin.com and e-dinar.io that we have no idea who is running the show.
It is claimed that EDC is a fast-growing currency with a growth rate of 20% per month. Therefore, buying E-DINAR for the first two years of its existence, you will probably earn the same rate. In addition to that, there is a mining bonus that allows you to get an income from the turnover of your structure down to the 7th level.
In order to receive the referral bonus, participants are required to have a minimum deposit in the account.
Is E-Dinar Legitimate?
There are a few flags I discovered as I was doing my research on both the EDC and EDR.
#1 Allegedly a Ponzi Scheme
EDR offers referral commission program, of which it is definitely a good way to make extra money for their affiliates. By inviting more people to their investment programs, you will instantly receive 2.5%-25% ref commission from every deposit your referrals made.
For a real cryptocurrency investment, this would equal giving away the entire (if not more) profit margin. This is a typical trick from most of the Ponzi scam on the market. They offer to reward “referral fees” to investors for bringing in additional members.
That’s how a Ponzi scheme is operated. They recruit new members to sustain the pyramid scheme. They need “new” money to generate “returns” for the older investors by acquiring new investors.
It is a fraudulent investment scheme where they pay returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.
It is a pyramid scheme that typically collapses in the end because it requires an exponential increase in participants to sustain the business model. That simply means the scheme cannot go on forever.
What makes it worse is there are several complaints where EDR has not been paying their investors as what they have promised.
#2 Internal EDC Exchange Platform
The only way to exchange EDC to any other currency is edinarcoin.com, an internal marketplace for members who have invested more than just for storing EDC in the e-wallet. Yes, EDR units are only tradeable through E-Dinar themselves.
Investors sell units back to E-Dinar or trade them with other investors through the E-Dinar exchange. It is basically a closed loop trading system.
#3 – High, Unsustainable Yields
I have years of experience in investments and a few in cryptocurrency. Historically, investments in most large corporate stocks return less than 10% per year. Usually, Ponzi scams offer between 1 percent to 2 percent daily profits to its members.
The EDR/EDC disclose their ROI and referral scheme with no aim to hide its absurd and unsustainable returns. The provided calculator shows how it earns you a 20% per month. I am skeptical about it.
The review above was made solely based on my opinion. Do you agree? Share your thoughts in the comments below!