Welcome to our review of IcoinPro. As always feel free to leave a comment below.
Disclaimer. This review of IcoinPro is for informational purposes only, it should not be considered Financial or Legal Advice. Consult a financial professional before making any major financial decisions. No payment has been received from ICoinPro or any other 3rd party for this article.
Table of Contents
- An honest review to reveal the underbelly of this popular MLM cryptocurrency company
- Product Name: ICoinPro
- Some Background info About ICoinPro
- What Does ICoinPro Sell?
- The Micro Profit System has Three Training Modules
- A brief look at Analysis Systems
- The Micro Profit System
- What is a Data Service
- Is Bitcoin a Good Investment Vehicle? (Opinion Piece)
- ICoinPro’s MLM compensation plan
- What we like about ICoinPro
- What they Offer
- What we don’t like about ICoinPro
- So, is ICoinPro a scam?
- Update on CoinbasePro and Binance.
- How does this affect ICoinPro
An honest review to reveal the underbelly of this popular MLM cryptocurrency company
When I come across companies like ICoinPro, I feel intimidated to ask the most basic question: is ICoinPro a scam?
Why is that?
Maybe because cryptocurrency is a relatively new concept that leaves most of us feeling out of our depth, and so, we don’t want to ask “stupid” questions.
But like most things, cryptocurrency requires some training, and this is where ICoinPro – a cryptocurrency training centre on trading Bitcoin (and other Alt currencies ) – comes in. However…
- How does ICoinPro fare from an MLM standpoint?
- What warning signs should we be looking for?
- Is it a legit MLM opportunity or is ICoinPro a scam like others reviewed in this blog?
In this ICoinPro review, we’ll find the answers to all these important questions.
While answers about trading etc; can be found on their website, Justin Clark, the co-founder of the company, was kind enough to reply to our email and answer some of our questions about how their system works, and what credentials it has.
Product Name: ICoinPro
Price: Learning material starts at $9.95/month and goes up to$99.95/month
Founders: Justin Clark And Paul De Sousa (CEO)
Product type: MLM (Cryptocurrency training and Network Marketing)
Overall Ranking: 8/10
Some Background info About ICoinPro
Cryptocurrency has only been around since 2009, but over the years it has quickly grown to attract more and more users.
In 2019, the global cryptocurrency market was valued at USD 754 million, in 2027, it’s estimated to be worth $1758.0 million. That’s a compound annual growth rate (CAGR) of 11.2%.
In other words, cryptocurrency is growing fast.
Paul De Sousa and Justin Clark saw this opportunity and decided to combine their cryptocurrency know-how to create ICoinPro – a training programme that teaches people about cryptocurrencies and how to invest in them.
What Does ICoinPro Sell?
Like all MLMs, ICoinPro also sells products to its clients. But rather than being physical goods, ICoinPro sells training courses. In this case, digital training courses on how to trade cryptocurrencies.
However, it should be noted that ICoinPro is not a brokerage platform, nor is it licensed to offer brokerage services. More on this below.
Leveraging the popularity of cryptocurrency, they say:
“Knowledge is power. The most complete online training program in the industry is HERE.”
Their simple and structured teaching platform, known as The Micro Profit System, offers people a step-by-step guide on how to buy, and make money from bitcoin as well as other cryptocurrencies.
Parallel to this, students can also sell memberships to other people interested in crypto trading.
The Micro Profit System has Three Training Modules
- Basic: $9.95/month: A great place to start for absolute beginners. Covers the basics of everything you need to know about blockchain and cryptocurrencies.
- Basic+: $39.95/month: For those ready to start their cryptocurrency money-making journey. The Basic+ package gives you access to the first two modules of The Micro Profit System.
- Full Access: $99.95/month: Complete access to The Micro Profit System with all its tools, training materials and resources you need to understand the cryptocurrency markets. Includes 24/7/365 trading signals and a live chat box with other ICoinPro traders.
You can find more details about The Micro Profit System on ICoinPro’s website here.
A brief look at Analysis Systems
For newbies who have never traded in a financial market, all traders have some sort of analysis system they work with. The most popular is called Technical Analysis.
This includes systems such as Gann, Elliot Wave, Ross Hook, Candle Sticks, Point and Figure – just to name a few of the systems used in the financial markets. Most have some mathematical formula built into their algorithm that gives a buy or sell pivot point.
Fibonacci levels and Gann percentages are two popular methods for determining buy and sell points.
Some traders like to combine methods to get better confirmation of signals. Popular combinations include Elliot Waves with Gann levels or Fibonacci levels.
Some of these systems have been around for over a century and have now been turned into software, which are used by work from home day traders, market professionals and corporate institutions. So obviously, they can be quite expensive systems.
A less popular system used for buying and selling stocks is Fundamental Analysis, which means looking at the book value of a company to determine its value and whether the price could go up or down based on those analyses. You look at things such as a stock price, earnings ratio, liabilities, place in the economy etc.
Fundamental analysis, probably has no place when trading crypto currencies.
The Micro Profit System
The Micro Profit system used by ICoinPro is a technical analysis system.
We emailed ICoinPro to clarify certain aspects of their trading system.
Here is part of (co-founder) Justin Clarks’ reply:
“In crypto, people trade directly with an “exchange” and they manage all of their trades themselves. People who use our system actually learn a simple trading system, use our software and tools to find potential trades, and then with their knowledge and education from The Micro Profit System, execute their own trades with their own entry and exit prices based on what they have learned.
In the USA there are really (only) a small handful of properly licensed and insured crypto exchanges people can use legally, with Coinbase Pro being the top one (which we recommend). Internationally there are multiple exchanges and we recommend people use only the ones which are properly licensed for their own country.”
To check out Coinbase Pro we went to Updata, an English based technical analysis software company used by market professionals in over 50 countries. Here is what they say,
“Coinbase Pro is the leading Crypto currency platform from the USA based Coinbase”. Updata rates Coinbase Pro 4 stars out of 5.
Note:- Binance is not integrated with Updata at the time of writing but it is actually way bigger than Coinbase. (Ed.)
(Update on CoinbasePro and Binance U.S. below.)
So legally, ICoinPro is playing by the rules. Plus, they recommend that their clients use a highly rated licensed professional platform in Coinbase Pro, as well as other licensed platforms in overseas countries.
Another question we asked was on data feeds. Justin gave this response: “We pull data directly from the exchanges that our software tracks and it’s near real-time”.
Traders rely on accurate up-to-the-minute data. The more accurate the data the more accurate their analysis is likely to be (if done as per their system and without emotion of course).
What is a Data Service
Data services tend to have less functional front ends. These tend to be more raw real-time price and/or price history services which often makes them a more cost-effective option for users. Data feeds are also ideal for adding some extra data that may not be covered with Trading Platforms.
So far, everything points to ICoinPro being a company that offers a product that helps novice traders understand and trade cryptocurrencies, without becoming bogged down with Stochastics, Chaikin Oscillator, MACD and other exotic indicators.
As they say, ‘Keep it Simple Sweetheart.’
So all in all, The Micro Profit System works on the basis of small fish (profits) are sweet. They include accounting software that shows you how to turn losses into profits and also offer expert advice to help you succeed.
Unlike this one which comes across as very dubious.
To sum up it all up, here is what Justin Clark said:
“Also, in addition to our training on how to day trade bitcoin and cryptocurrencies using our proprietary Micro Profit System, we offer a full primer on what Bitcoin and Cryptocurrencies are for those who know nothing about them, and advanced training to ensure a complete understanding of this brave new world!”
For the full details of ICoinPro’s programme see the video here
Is Bitcoin a Good Investment Vehicle? (Opinion Piece)
Bitcoin is making every investment/asset in history look stupid. Currently trading at around $55,000 and the expectations are for it to hit $100,000 by the end of 2021! Still there are two trains of thought. One being it is a pryamid scheme where you are selling to a bigger fool. The other is that Crypto is a state mind, free from government and Central Banks manipulations. It is not tied to interest rates. Unlike bonds or the dollar. If interest rates go up, bitcoin still does its own thing, meaning that it doesn’t rise and fall according to some government decision.
As Tim Denning, Writer for CNBC & Business Insider said: “Bitcoin is a radical shift in thinking that is infecting the planet faster than any pandemic. Bitcoin isn’t an investment. Bitcoin isn’t a get-rich-quick scheme, Bitcoin is a different way of thinking.”
Bitcoin and other Alt currencies are generating a lot of interest. I know people who have absolutely no interest in Stocks or Commodities, but trade Bitcoin during their lunch breaks. They have no interest in MLM, CBD, or other fads.
They are happy mouthing Kaa-ching between sandwich bites when they exit with a profit.
Could you make money following ICoinPro’s trading system? Yes... follow it and keep emotions out of the equation.
ICoinPro’s MLM compensation plan
While the academic side of ICoinPro is pretty straightforward (you pay to get access to their learning materials), things are not as clear for the MLM side of things (at least for those not experienced with MLM).
To be honest, it’s an interesting concept for a company involved in cryptocurrencies to also run an MLM scheme. Although it seems a strange mix, it’s not the only company that does this.
Interestingly, ICoingPro is rated Number 1 by Infinitesoftware.com (a company with branches throughout Europe and Asia), which should give someone new to trading cryptocurrencies some peace of mind.
Founded by Paul De Sousa, icoinpro is the most popular Cryptocurrency MLM company on the list. iCoin Pro does not actually provide you with a trading platform. Instead, they offer their reps educational platforms for learning how to win at investing in cryptocurrency. The company’s operations are very transparent and has managed to gain the trust of a lot of people, especially in the United States.
So as an MLM company, there should be a way for you to make money – together with any profits you may make from trading cryptocurrencies.
To begin with, things are pretty transparent. You get a 50% commission for every membership you bring into ICoinPro. Then, things get a bit confusing. Like most MLMs, you can make money through your recruits and downline. But unless you have some in-depth understanding of ICoinPro’s system and MLM, it can be hard to keep track of what criteria you need to meet, and what you’d actually earn.
ICoinPro explains their MLM system using a series of charts explaining their F.I.R.E. system (Fast Increasing Rewards Engine).
The F.I.R.E. System
|4 Ways to Earn Income||Brief Outline of the Requirements|
|Fast Start Bonus||You earn 50% on the initial payment of each new enrollment down to 5 levels.|
|Fast Start Infinity Overrides||You can also qualify to get paid on all the people who join your “Enroller Tree Organization”, up to infinite levels as you advance in rank. |
|Binary Commissions||To qualify for Binary Commissions, you must have at least 1 personally enrolled active member on each leg and the Minimum Enroller Tree BV Per Leg at each rank.|
|Matching Bonus’s||You also have the ability to match a percentage of all of the commissions that everyone in your enroller tree organization earns in their binary each and every month down to 6 levels!|
While the F.I.R.E. System looks good in theory, it would take a very dedicated MLM operator to earn the top amounts, even though the fast start is only 5 levels deep.
Having said this, I am not sure anyone with an interest in financial markets is going to be serious about MLM – but the option is there for anyone interested in it.
What we like about ICoinPro
Trading currencies or trading any stock or commodity is not for everyone. Many people call Wall Street the “Big Casino”, and see it as a huge risk. However, ICoinPro members have a lot of support from other members, as well as the training modules, to minimize the risks of loss in your trading, but also to amplify your profits.
Unlike most companies, the ICoinPro founders seem to be hands-on kind of people. All the explanation videos and social media live videos are hosted by them, giving the company a tangible personality.
There’s no denying that cryptocurrency takes some skills to master, so it’s a big plus that ICoinPro has a 24/7 crypto community where you can find self-help information and ask questions.
Plus, from reading ICoinPro reviews online, people seem happy with their services and what they offer.
What they Offer
- Understanding Bitcoin and Cryptocurrencies
- Where and how to purchase Bitcoin and other cryptocurrencies
- Learn how to make money from Cryptocurrency Trading through our proprietary Micro Profit System!
- Access to their exclusive trade finder and technologies
- Access to their exclusive members-only forums that give you the inside scoop on everything going on with complete support from their large and thriving community of crypto entrepreneurs
- Bitcoin and cryptocurrency lending
- Understanding buy and sell signals
What we don’t like about ICoinPro
Somehow, we feel like the value of ICoinPro gets lost in their MLM business model.
Their training courses can potentially open the financial doors to residual income for some individuals. But selling memberships is probably not what people who get into cryptocurrency want to do, and it’s probably where all the “Is ICoinPro a scam” questions come from.
Plus, the information on their courses is limited to videos, and although they are quite informative you do need to (I feel), pay $99.95 a month to really take advantage of ICoinPro’s motto:
“Your source for education, information, and training on everything cryptocurrency.”
Let’s face it. If you cannot afford $100. you cannot afford to trade! Simple. Sorry, but it is a fact of life.
So, is ICoinPro a scam?
We searched for warning signs and didn’t find any. Quite the opposite actually ! There are many good online reviews on other sites about IcoinPro.
Justin Clark (owner of iCoin), ook the time to answer all our questions in a friendly and timely manner, so a special thanks to him.
ICoinPro is nowhere near a scam, but the MLM side of this company leaves me in two minds.
I believe that people who do MLM are probably not that interested in trading, and vice versa. But I stand to be corrected.
From the training videos on ICoinPro’s website, they explain the trading and money management process quite well and, obviously, there is more information in their training modules. Anyone who has been involved in trading will tell you money management is more important than the trade.
The system is easy for a newbie to understand. The RSI (Relative Strength Index) can be found on any stock, currency or commodity and clearly shows overbought, oversold positions of any stock, currency or commodity.
Knowing how to trade it is another story though.
As for alternatives, Icoin is hard to beat for its simplicity at the beginning and working your up to an advanced trader and making money all the while you are learning. If you are new to financial markets perhaps one inexpensive way to start without risking any money, is to click this link and Learn to Trade the Financial Markets.
For the training, we will rate it 9/10.
For the MLM side of the business, we find it a little hard to rate. Is someone buying the trading system going to be even interested in pushing the MLM side of the business? MLMs are so often connected to the Health and Wellness arena. Cryptocurrency MLM’s look like a fish out of water. But as I said earlier it is not the only one.
I mean, it’s hard enough to recruit members for something which is good for their health. So how do you convince people who consider anything to do with financial markets as gambling? However…
ICoinPro offers the option to sell memberships and you don’t need many people to start making a reasonable income. Enough to cover the cost of your monthly membership anyway.
For the MLM, we will rate it 6.5/10.
Update on CoinbasePro and Binance.
On the 16th April 2021, Fat Tail Media reported. Coinbase went public Coinbase Global Inc [NASDAQ:COIN]. Making headlines in what many are referring to as a ‘watershed moment’.
After all, it is hard to ignore the sheer amount of money involved…
With a US$87.4 billion market cap at the close of its first day of trading, Coinbase is now officially the largest valued financial exchange in the world. Be it stocks or cryptocurrencies !.
More importantly, this listing gives Coinbase an air of legitimacy, something that the crypto scene has always struggled with, because to the cynics and skeptics of the world, crypto has always been this dirty underbelly of untraceable transactions or investing.
Coinbase’s public debut will attract a lot of eyeballs. Bringing even more mainstream engagement to the crypto sector. Who knows, maybe it has even piqued your interest in crypto?
According to Ryan Clarkson Ledward of Port Phillip Publishing (Australia), “Coinbase has always had some of the most egregious fees I’ve ever seen of any exchange. Be it stocks or crypto. Charging users far more for the luxury of easy access than many of its competitors”.
He goes on, “For a little perspective, in the past 24 hours, Coinbase has handled just over US$5.25 billion worth of trading. A decent volume that has been steadily growing over recent years and months.
However, this volume is still just a fraction compared to leading competitor Binance. An exchange that has handled US$55.08 billion in trading volumes in the past 24 hours!”
So Binance has over 10 times the volume of Coinbase, which makes it the biggest crypto exchange by far right now.
He adds. “More importantly, Binance offers investors access to more than 500 different coins and tokens. A much wider range of choice compared to Coinbase’s 44. When it comes to fees, it’s like night and day. With Binance offering some of the cheapest buying and selling around — which is precisely why it is so popular with regular crypto traders”
How does this affect ICoinPro
Essentially it doesn’t. Although Coinbase Pro is IcoinPro’s choice of trading platform is not compulsory for it to be yours. Users of IcoinPro have choices of trading platforms all around the world, and IcoinPro recommends you use only licensed trading platforms.
In this instance CoinbasePro just happens to be a licensed trading platform in the USA along with Binance.
The other problem for Americans is, its strict outdated investment rules mean many innovative new cryptocurrency projects are unavailable to U.S. residents, and so most of the top crypto exchanges are actually located overseas. Binance for instance.
- Our ratings of IcoinPro remain the same. However I did discover one glitch. When I tried to sign up on the basic plan my debit card was not accepted with the message that their security system believed my card to be not mine, and to scan and email my scanned card to them. I never followed this up, but there is no way I will scan a credit/ debit card and send it to someone.
Elena Vivaldo can be found at https://vivaldocopywriting.com when she is not scuba diving.
Michael Dubhthaigh owns https://the-bare-foot-affiliate.com/
10 thoughts on “Is ICoinPro A Scam? Looking For Gold in this MLM”
Thank you for this review of IcoinPro! It’s the first time I hear about ICoinPro.
Cryptocurrency is a new concept and it requires some training. I just read the information on their website and I still had some question on how the system works. I was concearned if it is a scam. Thank you for clearing that out!
Thanks for sharing this. Of course I’ve heard of Bitcoin and Cryptocurrency but don’t know much about it, and consequently, am pretty skeptical. Despite being an MLM, ICoinPro honestly sounds like a good foundation with which to learn to trade cryptocurrency. It kind of sounds like a cross between an affiliate program (where you earn commission for getting others to sign up) and an MLM (with the downstream level recruiting). Interesting read.
This is a very detailed and informative review on iCoinPro. Blockchain and crypto currencies are still fairly young concepts and has been very volatile, so I am scared to do actual trading in crypto, although I can probably benefit from learning more about how trading works.
I worked for a MLM company, and know how difficult it is to make money with the MLM business model. So they might be no. 1 in the field, but I would not join ICoinPro for the MLM opportunity, but rather for the training.
Thank you so much for this review on ICoinPro! At first I really thought that this was a scam. There are so many scams out there of people just trying to make a quick dollar, and this just seemed like one of them. I’m happy to see that it is not a scam and that the creators make it known on who they are. That is a big deal in my opinion.
Hi there, If you want to learn trading cryptocurrencies, ICoinPro is an education platform. If you’re looking for a company to educate you then don’t look any further, join ICoinPro because they provide cryptocurrency and cryptocurrency trading education.
ICoin Pro can teach you one of those money making non-recruiting and non-selling skills online without having to recruit or make sales.
Earning with bitcoin is real and very profitable no matter what kind of experience you have right now with bitcoin and cryptocurrency.
A very considered comment. Thank you.
I have been reading that cryptocurrency is a good investment. But I never really read yet any article linking to a platform that provides education about it. Good thing that you made a closer study of ICoinPro and shared an explicit review here.
You just dig a first hand information from the owner, how it works through its systems and clarify that it is not a brokerage platform but an educational platform selling training courses on how to trade cryptocurrencies. The training modules for the students who wants to start trading cryptocurrencies who can join their Micro Profit System is a plus. It is a relief to know that IConPro is not a scam and there is a platform who have honest intention of providing real education about cryptocurrency. Thanks for sharing this information.
The MLM system of IConPro for me is a bonus for those who really understood the courses, started investing and would like to share their learning to others. I see it a win-win situation for the marketing campaign of the admin, extra income for the students and an opportunity for others to gain interest to learn.
I’ve started to study the field of cryptocurrencies and investment opportunities a bit, but so far I don’t know much, I’m a complete beginner, and reviews like this one for ICoinPro are very welcome as I get a lot of useful information.
As a beginner, I like that the platform has the option of training modules, which is very desirable for people like me. But it is true, that the price for full access is very high.
However, I am not the most enthusiastic about the MLM system. It seems interesting considering this presentation, but I’m basically not in favor of such a multi-level system, because you work more for other people than for yourself.
Thanks for all the helpful information.
The video lessons, so far as I know, are about chart set up patterns. So it needs to be visual, as there is a time period involved which will include other bars, either daily, hourly or even 5 minutes. So you need to see the relationship of one to the other.
This is such a growing and dynamic industry and so many people are getting into trading that education is a must. It seems that IcoinPro is providing a great service in giving access to their knowledge. From your article, I can see that they are approachable to answer relevant questions quickly about their training course. Like yourself, I am really not sure that anyone training in trading will be interested in an MLM business but then again you don’t need to be involved in that to do your learning. It’s interesting that all the training is by video as text can help you retain the information too.