People are going all in on cryptocurrency in the past few years. Even if a lot of different cryptocurrency-related companies have been struggling at the time that I am writing this, there will always be some amount of people supporting it. As long as there is some sense of stability, nobody will really back out from it. Unsurprisingly, there have been a lot of different crypto-related multi-level marketing schemes that have popped up in the past few years.
NEXT: This Is How You Can Earn Money Without Putting Much Effort
Crypto MLMs are no stranger to this website. I have reviewed a bunch of them in the few months or so. From PGI Global to Bitlocity, there is no stopping people from creating their own crypto MLM scheme. Compared to other multi-level marketing schemes out there, crypto MLMs are relatively new to the game. It’s only been a decade or so since crypto became a thing. And it only made sense that there were people who will utilize an interest for it into a semi-lucrative business.
There isn’t much to be known about COTP’s corporate hierarchy. The company, which was founded in October 2021, didn’t really provide that much information regarding the owners. They mention that a person named Jane Jenny is the company’s chief executive officer. Some guy named Van Fleet acts as the company’s chief information officer. And Lisa acts acts as the company’s chief operating officer. She doesn’t have a last name, apparently. It’s just Lisa.
The weird thing about it is that the photos they used were all stock images. Would honestly believe a person would just be named Jane Jenny? Or that their CIO is basically two-thirds the name of a relatively new rock band? When I dug a little deeper, there was a press release on some website that some person named Mars Brown was the CEO. I still don’t believe that’s a real name. Elsewhere, someone named Feng Yan is cited as the owner of COTP.
Like a lot of crypto MLMs, there isn’t really much of a product to sell to people. Crypto isn’t really something you can buy easily. It takes a few steps before you can buy any kind of cryptocurrency. In other MLM niches, they actually provide products people can use like makeup, nutritional supplements and clothes. You know, normal stuff. But with crypto, you’re using fiat currency to buy another currency. But this time it exists inside computers. The only thing that COTP is able to sell is an affiliate membership.
Compared to other multi-level marketing schemes, you can become an affiliate member in COTP for free. In order to take part of the income opportunity, you have to invest a minimum of 9 USDT. Yes, you have to invest cryptocurrency in order to earn more cryptocurrency. The exchange rate between regular ol’ US dollars and the tether version of it is about 1:1. It costs a few cents more to get 1 USDT.
The compensation plan that COTP provides is pretty much the same as other multi-level marketing niches. In order to earn commissions, you have to recruit more people to the program. You get a 15% commission from the people you recruit. And if your recruits have their own recruits, you also get commissions out of it. The whole structure becomes a pyramid. Hence why multi-level marketing schemes are called pyramid schemes.
COTP didn’t really last long. It only took a few months before the whole thing collapsed. Most crypto MLMs collapse faster than other niches. There isn’t really any other way for these types of schemes to operate without money going into it. With other MLMs, they have an alternate source of funding because they sell products to their affiliate members that they would then sell to their customers.
Multi-level marketing schemes are always pretty iffy. You don’t really have that much success in them because you have to put a lot of time and money just so you could get commissions. Most of the people who join MLMs rarely last long. A lot of them rarely earn from being an affiliate member. It’s hard to commit to something if you’re not getting benefits out of it. What more if the thing you’re paying for is cryptocurrency?
TRENDING: Compare This To Cryptocurrency
