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NexusICO & NICO – Scam Review

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NexusICO works in the MLM niche of cryptocurrency.

The domain name for NexusICO’s website, “nexusico.com,” was privately registered in October 2019.

On its website, the company gives three business addresses: in Seychelles, the UK, and the US. None of these addresses seem to be related to NexusICO in any way.

This “team of professionals” is in charge of NexusICO:

Outside of NexusICO marketing, none of these people are real. This makes “Geri Smoll” a good choice for Boris’s CEO.

NexusICO marketing videos show the actor who plays Small, but nothing recent (NexusICO stopped uploading videos to its YouTube channel in June 2021).

In June 2021, the actor who plays Smol spoke at a Boris CEO event to mark NexusICO’s first anniversary. From this, we can tell that he sounds like he is from Central or South America.

It doesn’t look like the rest of NexusICO’s “professional crew” is there, which suggests that the other actors have moved on.

In their FAQ, NexusICO says this nonsense to make it look like they are legit;

With the number of Cryptocurrency scams going up, it makes sense for users to be suspicious of new companies.

NexusICO Capital LLC is a part of Nexus Group and is made up of ICO and Blockchain experts.

The Company is registered with the UK’s Companies House, and an excerpt of the Registration Certificate is included for everyone to check.

We don’t just have the right to the UK registrar; legally, we also have sub-branches in other countries.

The regulatory authorities have confirmed the identities of our directors and the addresses of our company’s offices. This means that NexusICO can operate anywhere in the world.

This is just empty talk. Basic incorporation has no point, especially in the UK. Scam artists can easily set up shell companies with fake information.

Take NexusICO’s canceled shell company in Arkansas, “Nexus ICO LLC”:

None of the information submitted is correct.

Their official Facebook page gives us the best idea of where NexusICO is run from. India and Pakistan are in charge of running it.

Instead of Seychelles, the UK, or the US, it is likely that India and/or Pakistan are running NexusICO.

According to SimilarWeb, most visitors to NexusICO’s website come from Italy (50%), Ghana (34%, down 89% from the previous month), and Indonesia (16%).

If an MLM company isn’t clear about who owns or runs it, you should always think twice before joining or giving them any money.

The Products of NexusICO
NexusICO has no products or services that can be sold.

Affiliates can only market the affiliate membership to NexusICO.

The Pay Plan for NexusICO
Affiliates of NexusICO put money in the form of USD-equivalents of cryptocurrency on the promise of advertised returns:

Nico Starer: Invest between $50 and $4,999 and get 300% back in a year.
Nico Pro: Put $5000 to $49,000 into it and get 400% in a year.
Nico Premium: Spend between $50,000 and $100,000 and get 500% back in a year.
Returns are paid out in NICO tokens, which are worthless outside of NexusICO.

50% of returns go into the “NICO Wallet,” from which you can take out money once a week for a 5% fee.

The remaining 50% goes into a “NICO Plus Wallet.” This balance can only be taken out at the end of the one-year return on investment (ROI) period.

Commissions from MLM are put into a “Business Wallet,” from which money can be taken out daily for a 7% fee.

NexusICO’s MLM side gets paid when affiliate investors are brought on board.

Referral Commissions: Referral commissions are paid by NexusICO through a one-level compensation structure.

With a unilevel compensation structure, an affiliate is at the top of a unilevel team, and every other affiliate they recruit is right under them (level 1):

If an affiliate on level 1 brings in new affiliates, those new affiliates join the original affiliate’s unilevel team on level 2.

If any level 2 affiliates bring in new affiliates, they move to level 3, and so on until there are no more levels to go down.

NexusICO caps payable unilevel team levels at five.

Referral commissions are based on how much money is invested at each of these five levels:

Affiliates in Nico’s Starter tier earn 7% on level 1 (affiliates they recruited), 2% on level 2, 1.5% on level 3, 1% on level 4, and 0.5% on level 5.
Affiliates in the Nico Pro tier earn 8% on level 1, 2% on level 2, 1.5% on level 3, 1% on level 4, and 0.5% on level 5.
Nico Premium affiliates earn 9% on level 1, 2% on level 2, 1.5% on level 3, 1% on level 4, and 0.5% on level 5.
Residual Commissions: NexusICO has a binary compensation structure that pays out residual commissions.

A binary compensation structure puts an affiliate at the top of a binary team, which is split into two sides (left and right):

There are two positions on the first level of the binary team. The second level of the binary team is made by splitting the first two positions into two more positions each (4 positions).

The next levels of the binary team are made as needed. Each new level has twice as many positions as the one before it.

Affiliates are hired for positions on the binary team in both direct and indirect ways. Note that a binary team can grow as deep as it wants.

At the end of each day, NexusICO adds up the amount of money that was invested on both sides of the binary team.

Affiliates get 7% of the money invested on the side of their weaker binary team, up to a certain limit based on how much they’ve already put in:

Affiliates in Nico’s Starter tier can make up to $1,000 a day.
Affiliates of Nico Pro tire can make up to $2500 a day.
Affiliates in Nico’s Premium tier can make up to $6,000 a day.
Once the payout has been made, the volume is matched with the stronger binary team side and the hand is flushed.

Any strong binary team side volume that is left over is carried over.

Getting into NexusICO
Becoming a NexusICO affiliate is free.

To fully take part in the attached income opportunity, you need to invest between $50 and $100,000 uupfront

NexusICO asks for bitcoin, litecoin, bitcoin cash, and eEthereuminvestments.

The End of NexusICO
NexusICO says it makes money from outside sources through ICO pump-and-dump scams and other schemes:

NexusICO invests in a wide range of initial coin offerings (ICOs) in different fields. These investments are made so that investors can get the most money back.

No evidence is given that NexusICO is making money from outside sources.

Also, the company makes a big deal about how it has set up shell companies, but NexusICO can’t show proof of regulatory registration that matters.

The chance to invest in NexusICO without doing anything is an offering of securities.

NexusICO needs to register with financial regulators so that it can legally do business. NexusICO doesn’t show any proof that it has registered with any financial regulators.

This means that NexusICO is at least breaking the law when it comes to securities.

MLM companies only choose to commit securities fraud if they aren’t doing what they say they are.

At the moment, the only source of income that can be checked into NexusICO is new investments. NexusICO is a Ponzi scheme because it uses new money to pay back old money.

As with all MLM Ponzi schemes, new money will stop coming in once affiliate recruitment stops.

This will stop NexusICO affiliates from making money from ROI, which will eventually cause the company to fail.

The math behind Ponzi schemes makes it clear that most people will lose money when they fail.

From their advertising, it seems like NexusICO is running their Ponzi scheme through CoinPayments:

When NexusICO uses the NICO token, investors will lose the most money possible. Outside of NexusICO, NICO has no value.

Returns and commissions are paid in NICO, which the company will convert internally as long as the Ponzi scheme continues.

When it’s time to exit-scam, investors will be left with worthless NICO they can’t do anything with.

This looks like a typical Ponzi points exit scam.

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