OneCoin is a product that has been presented as a cryptocurrency that has a private blockchain. In addition, it has been presented by 2 offshore companies founded and owned by Ruja Ignatova. Their names are OneLife Network Ltd (Belize) and OneCoin Ltd (Dubai). The disturbing fact about this cryptocurrency exchange project is that many financial specialists define it as a pyramid scam.

The reasons for this are solid and really logical. First of all, this cryptocurrency has a dubious organizational structure. In addition, most of the people who are involved in the project seem to have been involved in other scam projects.

OneCoin was initially created back in 2014 and since then many regulators, investigators, analysts and media from all over the world are wondering whether it is just another financial pyramid.

According to some specialists OneCoin can be considered as an endless spiral, due to the recent changes in the ownership of the Bulgarian companies.

In the following paragraphs we are going to share some more relevant and interesting information about OneCoin. Currently, one of the main questions is what is the OneCoin price and how it is going to evolve in the near future.

An Interesting Fact!

Bulgarian companies around OneCoin have undergone several transformations in their ownership and management over the years. Lastly, in late 2016 and early 2017, direct links with Ruja Ignatova and her mother Veska were broken, and the companies found themselves with unknown owners and managers – young people without corporate history and all indications that they were just fake owners. For example, Wan Network Services was the owned by Pegaron Invest, which in turn was owned by Artefix Europe. The latter was sold by Veska Ignatova to the then 25-year-old Christian Manolov for an unknown sum, as he also became the manager of One Network Services.

Basic Concept of OneCoin

According to the official information that is provided the main business of OneCoin is selling educational material for trading. All the users who are interested in this can purchase various educational packages ranging from 100 to 118,000. In addition, it is interesting to be mention here that each of these packages supposedly includes tokens and they can be assigned to “mine” OneCoins.

Also, it is said that OneCoin is mined by servers at two sites in Bulgaria and one site in Hong Kong. Each package is supposed to provide users with new educational material. Still, our research revealed that all the information available in the packages is plagiarized from several sources. Another disturbing fact related to the OneCoin’s authenticity is that it claims to only sell educational materials, not cryptocurrency, however, during one of the latest recruiting meetings most or the recruiters talk about cryptocurrency investments not about educational materials.

Now, one is not able to trade OneCoin tokens for other cryptocurrencies as the only exchange that offered this service was shut down in January 2017 without any warning. And while it was available OneCoin tokens could be only exchanged for euros.

OneCoin is said to be a cryptocurrency that is based on blockchain technology, just as Bitcoin, Litecoin, Dash, etc. Unfortunately, this information is now considered fake and unauthentic, which means that the whole OneCoin project is maybe nothing more than a scam financial pyramid.

OneCoin Price

As we have already mentioned above the OneCoin project was created and started by Ruja Ignatova. She is a Bulgarian woman who claims to have graduated from Oxford. Of course, no evidence for this statement was found. The interesting thing here is that another person is part of the OneCoin scam, too. He is called Sebastian Greenwood and according to our research he has previously dealt with other multi-level marketing companies all of which are now proven to be scams.

In this context, it is difficult to say anything about the OneCoin price as the cryptocurrency is not even real. Most likely, a single token of it doesn’t worth anything, at all. This is why all the people who are willing to enter the cryptocurrency trading business should better avoid dealing with this particular digital currency, as it isn’t real but a fake product that only aims to make users become a part into its financial pyramid structure.

To prove this, we have to tell you that in January 2018, Bulgarian agents, prosecutors and the organized crime agency conducted a raid in OneCoin’s offices. They are located at Sofia, Bulgaria. The operation itself was requested by Germany and it managed to confiscate many servers and documents that proved that OneCoin is not a real cryptocurrency but a scam.

Good to Know!

A financial pyramid which is also known as a pyramid scam is a business model that recruits new members to its structure. They are promised to receive access to services or direct payments in case they manage to enroll other people into the structure. As a result, as recruiting multiplies it quickly becomes impossible which leads to a situation where most of its users are unable to generate any positive results. This is why these financial pyramids are illegal and absolutely unsustainable.

Is OneCoin Legal?

It is absolutely clear that the OneCoin project is fake and illegal. According to the official portfolio of the supposed cryptocurrency, it sells educational materials about cryptocurrencies trading and other things to its members. However, all of these materials are plagiarized. The truth is that this whole system is a financial pyramid, this is why the OneCoin price is non-existent.

Our advice to the readers is to not even question whether OneCoin is a scam or not. It is more than clear that it is.

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The final fact we want to share with you is that some people could really generate consistent positive results by dealing with OneCoin, but this is only valid for those of them who are lucky to be the first one to enter the pyramid.

Forget About OneCoin Price & Find a Trustworthy Solution!

If you seriously want to become a part of the rapidly developing cryptocurrency market, you should better focus on Altcoins that are already proven to be successful. For example, you should seriously consider the option to start with Ethereum, Litecoin or even with Bitcoin token fractions. This will give you a stable ground to start from.

In case you are an inexperienced trader who doesn’t have much knowledge about this online investment field, we suggest that you should sign up for a legit and trustworthy cryptocurrency exchange platform. It will help you start generating positive results without even personally dealing with the whole investment process. This is possible thanks to the automated trading mode that all of the reliable and professional systems have.

Consider your options, carefully check the information, and start trading cryptocurrencies by relying only on trustworthy tools. This is the way for you to achieve the desired success.

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