You should read this full article if you're considering signing up for this cryptocurrency chance to understand about this scam. Dagcoin and Success Factory have a rich history and a cast of colorful individuals despite being a more recent company. In the end, I'm confident you'll decide that this company isn't right for you.
Let's get going!
You must invest real money in the Dagcoin - Success Factory cryptocurrency ponzi scheme in order to receive Dagcoin. Because recruiting new members is the only method to make money and because some extremely dubious individuals are in charge of running and promoting Dagcoin, this business is a ponzi/pyramid scheme. Many of these individuals were involved in Onecoin, a nearly comparable Ponzi scheme that duped customers of billions of dollars (you can read more about this business in this post).
When hiring slows down, this business will eventually fail, and most customers will lose money.
Avoid it at all costs.
Dagcoin FAQ'S
Description of Dagcoin:
The cryptocurrency Dagcoin also offers a Multi-Level Marketing opportunity. Nils Grossberg started the business, which officially launched in 2017. Estonia is the home country of Dagcoin. Success Factory is a multilevel marketing company that offers "education." However, this company is only a ruse to encourage people to buy Dagcoin.
How do you get paid around here?
There are two methods to profit in this situation: one is to invest money in Dagcoin and receive rewards, and the other is to bring new members into the program. You receive commissions from both the investments made by the people you recruit and your downline.
Are there any warning signs?
The business as a whole is suspicious. The fact that this business is a knockoff of the well-known fraud Onecoin raises the largest warning signal.
In actuality, several of those involved in this case, including the owner of Dagcoin, promoted Onecoin.
Dagcoin is also worthless and really just useful internally (it has no real world value).
In essence, you are paying real money for a bogus item.
The majority of individuals will eventually lose money here, especially given that this is a ponzi scheme and will collapse in full.
In this article, I'll elaborate on each of these ideas.
It is not appropriate for me to offer a personal opinion on whether a specific company is a legitimate business or a scam. It is important for individuals to do their own research and make their own informed decisions about whether to invest in or do business with a particular company.
That being said, it is always important to be cautious when considering any investment or business opportunity, and to thoroughly research the company and its practices before making any commitments. It is also a good idea to be aware of common red flags that may indicate a potential scam, such as promises of guaranteed high returns with little or no risk, pressure to make a decision quickly, and requests for personal or financial information upfront.
It is also a good idea to be aware of the various laws and regulations that protect consumers and investors, and to familiarize oneself with resources that can help to identify and report fraudulent activity. For example, in many countries there are government agencies that are responsible for regulating financial markets and protecting consumers from fraudulent or deceptive practices.
In the case of Dagcoin and Success Factory, it is important to note that the company has faced some controversy and legal challenges in the past. In 2019, the Estonian Financial Supervision Authority (EFSA) issued a warning about Dagcoin, stating that it was not a licensed payment service provider and that it was not authorized to offer investment services in Estonia. The EFSA also noted that Dagcoin appeared to be operating as a pyramid scheme, in which early investors are paid with the investments of new members rather than through profits earned from legitimate business activities.
In 2020, the EFSA ordered Dagcoin and Success Factory to cease their activities in Estonia, stating that they were "carrying out activities in the Republic of Estonia without a licence and without the authority of the EFSA." Dagcoin and Success Factory appealed this decision, but in 2021 the Estonian Supreme Court upheld the EFSA's ruling.
It is important to note that the legal status of Dagcoin and Success Factory may vary in different countries, and that the company's practices and business model may be subject to different laws and regulations depending on where it is operating. It is always a good idea to thoroughly research a company and its practices before making any investment or business decisions.
