Look no further for the truth regarding Libra Coin because we have all the facts nested within this unbiased review.
As you will learn the further on you continue to read, Libra Coin is just another cryptocurrency scam operation that functions without liability and reflects a strong disapproval rating amongst the crypto community as a whole.
While Libra Coin may appear as a legitimate investment opportunity for newbie cryptocurrency investors there is much more than what meets the eye regarding this latest investment hoax.
Hosted at LibraCoin.io, Libra Coin presents their platform as an Initial Coin Offering for an unverified cryptocurrency known as LibraCoin.
What is Libra Coin?
According to their site, Libra Coin is a decentralized peer to peer digital coin that is not controlled by any central institutions or governments.
Only available for investment at LibraCoin.io, Libra Coin is presented as an Initial Coin Offering (ICO) that can only be purchased with Bitcoin.
Allegedly there will only be a limited supply of Libra Coins, which is disclosed as 30 million coins.
Who is Behind LibraCoin?
Libra Coin does not disclose any ownership or operator information anywhere upon their site.
We navigated through the sites Terms and Conditions only to discover that LibraCoin refuses to accept any liability for any potential misplacements or loss of funds while their About Us page provides little information of value.
We even conducted a WHOIS report in the attempt to unearth some ownership information but unfortunately their domain, libracoin.io, was a privately registered domain that was created on November 17th, 2017.
How it Works
Libra Coins claims to render return-on-investments and a rewarding affiliate program.
According to their site, below are their projected ROIs based upon lending amount:
$100 – $1,000
Contract Period: 240 days
Accrued Interest: Up to 45% per month
Cumulative Return: ~360%
$1,010 – $5,000
Contract Period: 200 days
Accrued Interest: 0.15% daily + ~45% per month
Cumulative Return: ~327%
$5,010 – $10,000
Contract Period: 150 days
Accrued Interest: 0.25% daily + ~45% per month
Cumulative Return: ~262.50%
$10,010 – $100,000
Contract Period: 110 days
Accrued Interest: 0.35% daily + ~45% per month
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The lending amount is actually the initial investment amount from day traders.
As you can see, Libra Coin has a pyramid style referral model.
Level 1 referrals are accompanied with a 7% commission.
Level 2 referrals come with a 5% referral commission.
Level 3 sits at 3% per referral while Level 4 is fixed at 1%.
What Others Are Saying
The community concuss regarding Libra Coin would be that their operation is a Ponzi scheme.
Multiple review portals have exposed Libra Coin has a deceptive scam operation while affiliates of Libra Coin appear to be desperately attempting to convince gullible investors of the fake legitimacy of their platform in the hopes of securing a referral commission.
Below is some of the most relevant feedback we found relating to Libra Coin:
“You lost your money like everyone else. One big scam”
“Its already a SCAM!! Cant exchange coins to BTC.”
To find out more information regarding Libra Coin check out this BitcoinTalk.org thread.
LibraCoin does not appear to be a popular domain.
According to SimilarWeb, Libra Coin reflects a global rank of 1,429,763 with a Canadian rank of 584,242 as of November 29th, 2018.
Due to their poor web-rankings, market intelligence reports are unable to verify LibraCoin.io traffic sources which indicates to us that their domain receives little incoming traffic, if any at all.
Is LibraCoin.io a Scam?
Libra Coin is undoubtedly a scam, that when broken down, embodies that of a Ponzi scheme.
Incorporating a referral tier that is structured as a pyramid scheme, the business model employed by Libra Coin is nothing that we haven’t seen before.
Relying upon the deposits of newly registered investors to pay off the liabilities of previous investors while keeping a fat slice of the deposit for themselves, Libra Coin will seize to exist once the sum of newly deposited funds are unable to fulfill the withdrawal requests of previously registered investors.
Hence the implosion and self-eradication of the Ponzi scheme itself.
To add, LibraCoin does not provide any information on how users are allegedly generating profits on their investments.
LibraCoin.io Review Conclusion
Libra Coin is a deceptive Ponzi scheme that promotes their platform as an up-and-coming Initial Coin Offering.
Once the sum of withdrawal requests are unable to be met the scheme starts to break down until eventually the operation closes shop and disappears with all their investors funds.
Since all payments regarding Libra Coin are conducted via Bitcoin, they are irreversible and anonymous which means it will be highly unlikely that you will ever recover your to-be stolen funds.
This is why we never advise investing with a cryptocurrency-related venture that does not provide verifiable and transparent ownership information.
Given the information shared above we obviously are advising our subscribers to avoid this moronic Ponzi scheme and seek more dependable investment alternatives.
Outcome: Libra Coin is a Ponzi Scheme!
Blacklisted Site: LibraCoin.io
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