Lyfcoin is a decentralized platform that offers staking solutions for cryptocurrencies.
Crypto-currencies are believed to be the future of the global economy which has been getting a lot of attention on the web lately.
Lyfcoin is one of them!
It also offers a very simple Binary Plan where you can make extra coins by referring the plan to other people.
However, some believe that Lyfcoin is a bubble that will grow disproportionately and burst anytime. So, can you really make money with the Lyfcoin? I am going to reveal the nuts and bolts of Lyfcoin in this review.
This review consists of information like:
- What is Lyfcoin?
- How to Join Lyfcoin?
- How to Make Money with Lyfcoin?
- What Do I Like About Lyfcoin?
- What Don’t I Like About Lyfcoin?
- Is Lyfcoin A Scam?
Before I start, I must congratulate you for spending time to do your own research about the truthfulness of any program.
It is important to check a program’s review before buying it because there are too many scammers online!
I am not associated with Lyfcoin in any way so rest assured that I am not here to sell you anything.
Lyfcoin Review Summary
Product Name: Lyfcoin
Product Type: Multi Level marketing
Price: $100 – $25000
What is Lyfcoin?
Lyfcoin is a platform designed for Staking, analysis of new ERC-20 smart contracts and subsequent account management for merchants.
What is staking?
Staking refers to the daily or monthly percentage paid to any user for holding on to the coins for a certain period.
What is ERC-20?
ERC-20 is simply a standard that specifies how cryptocurrency behave, so that they are compatible with the platforms.
The purpose of Lyfcoin platform is to allow individuals to make fast, secure and cost-effective transactions through a decentralized peer-to-peer network.
In regards to who’s running Lyfcoin, none information could be retrieved from its website.
Only incomplete address could find, I can only assume that it is operating somewhere in Estonia.
However, according to WHOIS, the company website was created on October 30, 2017 and updately recently on September 25, 2019.
If you encountered any problem regarding Lyfcoin, the fastest way is to log into your account and refer to the chat advisor that pop up into your web browser.
You can also refer to the FAQ on its website or you can send an email to email@example.com.
How to Join Lyfcoin?
The flagship product Lyfcoin offers is not tangible any products or services but the company’s subscription plans
These subscription plans are tied to the purchase of a license.
Lyfcoin offers eight licenses differ in compensation plans.
To get started, you can purchase one of the licenses as listed below:
How to Make Money with Lyfcoin?
Compensation plan of Lyfcoin is made up from monthly return on investment, direct referral commission and binary residual commission.
You may refer to the table above.
Additionally, all investments are paid in LYF token.
For further discussion, I will use the example of a Lyfcoin’s affiliate had spent $500 to purchase ‘Explorer’ license.
Monthly return on investment
You will receive LFY token that worth $500 and receive a 3% monthly return on investment which is $15 LFY token.
Direct referral commission
For every affiliate you personally recruited, Lyfcoin will pay you a direct referral commission on the funds his/her invested.
Since you have invested in ‘Explorer’ license, you will receive an 8% direct referral commission rate.
Binary residual commission
Binary plan works on the distribution of two sides (left and right).
Your binary team will be filled up via direct and indirect recruitment of affiliates.
Alike many other compensation plans, Lyfcoin will sum up new investment volume on left and right sides.
Then you will be paid an 8% of binary residual commission of the total volume investment if the weaker side.
What Do I Like About Lyfcoin?
There is nothing I specifically like about Lyfcoin for many reasons. The biggest reason is that I don’t see the need of taking such risk with them.
Because I can make money with a much lower risk, affiliate marketing.
For example, I have created this blog that gets hundreds of visitors each day. I can promote something here and if people buy it, I will earn an affiliate commission.
Instead of forcing people to join a program or buy something, I rank my blog high on Google and let them come to me.
This is done through search engine optimization and keyword research.
Sadly, they don’t teach anything like that in Planet Impact Academy. That’s why it is really hard to make money in an MLM business without learning some internet marketing skills.
If you are interested in how I learn those skills and make money online, please feel free to check here where I share my online venture in details.
What Don’t I Like About Lyfcoin?
1. Lack of information
Lyfcoin does not offer clear, understandable information regarding the company, its founders and management team, or the business opportunity on its corporate website.
The company could do better by providing more transparency in regards to its background and offerings
Additionally, there are limited information or review on this company can be found currently.
2. Absence of testimonials
Lyfcoin does not provide any testimonials or Income Disclosure Statement.
There is no other evidence online that anyone has made any real money with Lyfcoin.
3. Limited exchange platform
Currently, there’s a limited platform for us to sell or buy Lyfcoin.
As stated in its website, Lyfcoin holds its value at $1.60/LYF although it has not been on any major exchanges yet.
Only small exchanges are done like stocks exchange and ethen.market so far and has been qualified to go on the Coindeal exchange since January 2019.
Moreover, I don’t find any internet platforms or shops that are accepting Lyfcoin as a method of payment.
Is Lyfcoin A Scam?
I would keep this program in my list and monitor it closely since this program it is a relatively new program.
Although Lyfcoin claims that it’s team experts help the affiliate members to identify and evaluate potential opportunities and take advantage of these opportunities.
But Lyfcoin is very new to the industry and has not yet had time to prove itself as a reliable, financially stable company.
Additionally, mobile/web wallet of Lyfcoin is coming soon.
Thus, let’s wait and see how Lyfcoin is doing.
My review has provided all the necessary information needed and all that is left for you to do is look at the findings and make an educated decision.
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