What is crypocurrency bank MLM (CCBMLM)?

Cryptocurrency Bank MLM (or just CCBMLM for short) is a new cryptocurrency platform that as of this writing is in prelaunch. Scheduled to launch in September of 2017, CCBMLM is offering prelaunch positions by providing free signups and referral income opportunities.

What Is Cryptocurrency Bank MLM?

CCBMLM claims to be headquartered in Kowloon, Hong Kong in the International Commerce Centre high-rise. However, the company neglects to mention where exactly in the building its headquarters exist. There is also no way to contact the company via telephone, with the only method being via email.

In essence, we have no idea who's behind CCBMLM, and it doesn't seem to be likely that we will ever find out anytime soon.

Cryptocurrency Bank MLM Product

As CCBMLM is in prelaunch right now, there isn't much the company can offer in the way of products and services. There are plans to provide a “global cryptocurrency virtual bank” and to provide digital currency training and education services sometime in the future, but for now, the only activities that CCBMLM offers is membership and recruitment.

The only activity you can engage in when it comes to CCBMLM is joining the company itself. During prelaunch, CCBMLM is providing $50 worth of its proprietary pre-mined cryptocurrency to each new member free of charge.

Cryptocurrency Bank MLM Opportunity

As befits a crypto company with “MLM” in its name, CCBMLM has a recruitment bonus system in place as well. A 2×20 recruitment matrix provides an additional $10 worth of CCB cryptocurrency for every direct recruit you refer to the program.

As CCBMLM is still in prelaunch, there's no other information available on compensation schemes. There may or may not be a residual commission structure that will be laid in place as well.

Cryptocurrency Bank MLM Verdict

CCBMLM sounds too good to be true, doesn't it? Sign up for free and get $50 worth of cryptocurrency. Then, recruit others and you'll get an additional $10 in crypto for every direct recruit – and who knows what kind of residual compensation has been put in place with a 2×20 recruitment matrix!

Yeah, it sounds great until you realize that you're not being paid in “real” money. This isn't an argument against using cryptocurrency – established digital currencies like Bitcoin are worth thousands.

The problem here is that, by all accounts, CCBMLM is using a proprietary digital coin that isn't tradeable on the open market and that has a valuation set arbitrarily by the company itself.

We can predict what's going to happen with CCBMLM. The company is obviously encouraging a massive user base with its free memberships and generous starter awards.

Then, once the site launches, the valuation of the CCB coin will begin to be arbitrarily raised incredibly high, prompting investors to purchase as much of these coins as possible.

CCBMLM will take real cash for these otherwise worthless coins until it reaches a certain threshold. Then, in a classic “pump and dump” move, the company will drop the price of its cryptocurrency into the toilet, ensuring that even if one of its investors decides to sell off their stock of coins they'll only receive a fraction of what they paid for them.

This isn't just a possibility – it's happened in the world of cryptocurrency time and again. We're rather sure of it in this case because it fits the pattern – a proprietary coin that's been pre-mined by a company. This company (CCBMLM) owns 100% of the coin its distributing, and there will never be any new coins introduced into the site's economy that

This company (CCBMLM) owns 100% of the coin its distributing, and there will never be any new coins introduced into the site's economy that don't come from CCBMLM itself.

Combined with the fact that these coins are not listed on any digital currency exchange means that the only place to purchase them from is, again, the company itself – and you can't sell them to an outside investor as there's no market for them.

In other words, you might receive $50 worth of “free” cryptocurrency by joining CCBMLM, but these coins are only worth what CCBMLM says they are, and only in the context of their closed system.

There's nothing stopping the company from deciding that these coins are worth $1 per coin today and then $0.01 per coin – or even less – tomorrow. There's also nothing you can do about it.

Combine this information with other major red flags, such as the fact that no one knows who's actually running CCBMLM, where it's located, or even if there's a corporate headquarters at all,  and CCBMLM becomes a very poor investment opportunity indeed.