Company Name: Diamond Temple Coin
Costs: €20+ (initial investment)
Do I Recommend Diamond Temple Coin?
Trying to make money with Diamond Temple Coin feels like an exercise in futility. Despite the company’s claims, there is no guarantee about the value of the cryptocurrency and little to suggest that it will increase in value.
Instead, you’re more likely to lose your investment entirely.
What Products Does Diamond Temple Coin Sell?
Diamond Temple Coin is one of many companies that promote cryptocurrency as a way to make money. In this case, the currency is referred to as DTCoins, DT Coin or Dt Coin. The exact way this is written varies across the site, which is hardly encouraging.
As a result, there are no physical products. Instead, if you invest in the company, you’re simply purchasing the ability to mine the coins and/or buying coins themselves, depending on what pack you choose. The various packs on offer look like this, with all of the prices being in Euros.
The concept of cryptocurrency can seem extremely attractive, especially when currencies like Bitcoin ended up turning an extremely high profit. Likewise, there are other cryptocurrencies out there that have been extremely lucrative for investors.
Nevertheless, cryptocurrency is a mixed bag. There are many different types out there, with more companies getting into the field regularly. Some of those currencies may eventually become successful but most of them probably won’t. In many ways, the process is like buying stocks and hoping the company makes it big. So, with enough research and luck, you might be successful but the odds aren’t great.
Realistically, the cryptocurrency isn’t even the focus of what Diamond Temple Coin offers. The main chance to make money comes from recruiting other people into the company. This is also where things start to get concerning.
Is Diamond Temple Coin A Good Business Opportunity?
Diamond Temple Coin basically operates through an MLM model. This style means that you primarily earn money by getting other people to join, rather than from the currency itself. The model is a common one, especially for direct sales companies like Direct Cellers.
To a degree, the model makes sense when you’re selling physical products – and some distributors for MLMs even end up fairly wealthy. Even then, you have to choose your company carefully and make sure what you’re promoting matches the audience you are targeting. But, things are a little different for a cryptocurrency. After all, there is no actual product on offer here. Instead, all you have is virtual currency that the company is controlling.
So, you’re basically buying money and trying to get other people to buy it as well, with the hope that the value increases over time. If you do sell any of the packages, you receive a 30% commission, which is better than some companies. But, that compensation has to be re-invested as DT Coins.
As with similar companies, the main focus here is on recruitment. As such, you’re meant to build a team underneath you, one that is successful at selling and recruiting. If you can do so, then you start to earn money from the success of that team, which includes a 15% commission on any funds invested by individuals you personally recruit.
The idea is that the larger your team is and the greater the sales – the higher your income potential. But, as you can probably guess, the process is easier said than done.
One key element of making decent income is ranks. For Diamond Temple Coin, there are 12 different ranks, going from Start all the way to Double Black Diamond. To increase your rank, you have to reach a certain investment volume within your downline and also have some high ranking recruits.
For example, the Ruby tier involves you to get at least €37,500 across your entire team and also have two Pearl level recruits and one Sapphire level recruit (those are ranks two and three, respectively). The requirements get higher as you go further up the ranks.
The pattern here is similar to countless other companies and there’s nothing especially exciting or unique. As with a conventional MLM, you could make money, as long as you could build a large enough team.
But, this isn’t a regular MLM, as there isn’t any physical product. As a result, recruitment gets that much more difficult, particularly as people do like to get something for the money that they pay. Plus, the main sales pitch that you can make is simply the potential to make money – which isn’t much of a claim really.
Even regular MLMs make it hard to find success. After all, you have a fairly complex model and a requirement to build a significant team. Trying to do that same thing with a cryptocurrency instead would be considerably more difficult, if not outright unachievable. You’re also likely to find that some people simply aren’t interested in cryptocurrency, while others may struggle to understand the concept.
Does Diamond Temple Stand Out?
When it comes to cryptocurrency, a key question is what makes this particular currency different? For the currency to be successful, it needs to have some type of added value, something unusual. Otherwise, it’s just going to get lost in the sea of competition.
The marketing for Diamond Temple suggests that the one difference is in diamonds (hence the name, I imagine). Basically, the coins are backed by something of physical value. This is the same underlying concept as using the gold reserve to support the American currency system.
But, while the concept sounds nice on paper, it may just be an empty claim. For one thing, Diamond Temple doesn’t offer any proof that it actually backs its currency in this way. It also isn’t clear whether the process would actually help stabilize the cryptocurrency.
With that in mind, the company doesn’t offer nearly as many guarantees as it likes to suggest. In fact, it doesn’t have any guarantees that you can trust. Instead, you just have their word and no way of knowing what the company will do in the long-term.
At the same time, the site for Diamond Temple isn’t especially trustworthy and heavily relies on stock images and no shortage of hype. For example, the sales videos look like they have been made by someone from Fiverr and talk about how amazing the idea is, without providing any concrete details.
Yet, when you start to look at the content on the site, there are some glaring problems. In fact, most paragraphs have at least one spelling or grammar issue, not to mention all of the inconsistencies across the site.
Now, I know, writers are human. In fact, every website will have some mistakes, no matter how carefully the author edits. But, when you see many easy-to-spot problems on every page, it’s a strong indication that the company isn’t focused on quality.
In a similar way, the information that the company does provide is extremely vague. For example, the image below is the way that the team is described and it tells you nothing about who they are or how they operate. In fact, the same general terms could be applied to many different companies.
Additionally, Diamond Temple Coin is an internal type of cryptocurrency. This means that the company is creating the coins and controlling their value, rather than allowing them to be traded in the wider cryptocurrency market.
That limitation alone means that the coins are only ever as valuable as Diamond Temple Coin says that they are. And, if/when the company goes under, those coins immediately become worthless.
The company does state that you’ll be able to convert the coins back into Euros and also spend them directly, in the future. However, there is no evidence about when that will be and no proof that it will actually happen.
Based on this issue and the overall structure, Diamond Temple Coin is basically a pyramid scheme. After all, the company doesn’t actually have a product to offer and you’re basically paying for the chance to earn money. What’s more, the design is unsustainable, especially as the only income comes from investors. So, as the number of people joining dries up, the company’s ability to make money will rapidly decrease too.
The end result is that the system will collapse sooner or later. And, when that happens, the most recent members will tend to fare the worst, often losing considerable amounts of money in the company.
Honestly, if you’re going to invest in cryptocurrency, it’s worth researching and finding one that is likely to be sustainable. It’s also best to stay away from any that operate through the MLM model, as most of the ones that do seem to be largely recruitment scams.
Diamond Temple Coin is filled with hype and wild claims but offers little substance. Realistically, the potential to make money is slim and there is also the risk that you can’t easily convert your coins back into cash. As a result, it’s worth staying clear of the company and looking for a more realistic and sustainable alternative.
For the vast majority of people looking put their dollars to work as passive income, traditional investments like a low-cost index fund is going to be the smarter choices. Even trading stocks is going to be less risky than investing in cryptocurrencies.
If you do want to get involved in the crypto world, and especially altcoins, be sure to do your homework. Know the developer, read the white paper, and invest only what you can lose. Above all, my recommendation is to avoid coins where the main value is derived from recruiting new members.
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