• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Set Affiliate Business

  • My #1 Recommendation
  • Home
  • Blog
  • About Me
  • Free Start

Is Dagcoin a Scam?

July 30, 2020 By Mike Bahno Mudesi 6 Comments

Welcome to my website.

Are you interested in investing in cryptocurrency, but you are afraid that you are too late for bitcoin?Is Dagcoin a Scam

Are there any better opportunities?

It seems that DagCoin might be a good alternative.
But is it?

You are doing your due diligence before jumping into a conclusion – this is awesome. You have no idea how many people sign up for systems without doing proper research first.

So let’s clarify it – is DagCoin a scam?

Would it be a good investment, or are we facing another cryptocurrency bubble?

In this DagCoin review, I will walk you through this system, how it began, who is behind it, how it works, and whether it makes sense to invest in the Dagcoin.

Disclaimer
Please note, I am not a member or an affiliate for DagCoin . This review is based on research and information available online in the public domain.
Any recommendation and conclusions are only opinions and may not apply to all persons or situations.

Table of Contents

  • 1 DagCoin Global Overview
  • 2 DagCoin Summary
  • 3 What is DagCoin?
    • 3.1 Founder of DagCoin
    • 3.2 Legal Issues with the Dagcoin
  • 4 What is the Value of Dagcoin?
  • 5 Is the DagCoin a Pyramid Scheme (Ponzi Scheme)?
  • 6 Who is DagCoin for?
  • 7 What is the Price to Join?
  • 8 Products, That DagCoin Offer
  • 9 Compensation Plan
  • 10 How Much Can You Make with DagCoin ?
  • 11 Where to Go from Here?
  • 12 What I like about DagCoin
  • 13 What I don’t like DagCoin
  • 14 Is DagCoin a Scam?
  • 15 Final Conclusion
  • 16 Please Take a Look at Platform Teaching How To Start Business Online

DagCoin Global Overview

Name: DagCoin
Website: www.dagcoin.org
Price to Join:
$7.20 to $17,975.00
Recommended: No! Do not join this Ponzi Scheme!

DagCoin Summary

DagCoin operates as an MLM (or a pyramid scheme if you will) and it was founded by former OneCoin scammer Nills Grossberg. DagCoin is just a clone of OneCoin.

Their website and YouTube videos look professional but don’t be fooled. It is a matter of time until this scheme will be shut down. If you want to find out how to make money do your research about investing and trading.

Or check the alternative I offer.
It is called affiliate marketing and you can learn how to build a website that will earn you 4 digits per month in about a year.

I have learned how to create a website, how to get free traffic, and how to monetize the traffic using this method:
Sign up for Free and I will guide you through the platform.
No Credit Card Needed – Just your email.

What is DagCoin?

DagCoin is a cryptocurrency that is meant for using and not trading. That is what the official website Dagcoin.org says.Is Dagcoin a Scam

You are told that you can invest your money and buy this currency – DagCoin or DAG.
The Dagcoin can be acquired via SwipeX exchange or you can purchase the Gift Card directly at their website.

SwipeX is just a DagCoin internal exchange.
They used to have a different exchange called “Paygety” but it was working only for a few weeks. It has been shut down due to the “maintenance”. The website currently does not work.

When you browse the DagCoin site it seems that they only offer the new cryptocurrency.
What it does not say right away is that DagCoin works ass a Multi-level marketing company where you as a purchaser will be asked to share this “service” and ask others to purchase this cryptocurrency.

At first sight, it seems that this is a new and legitimate way how to get rid of the cash and invest it in something sustainable in the long run.
But once you start digging deeper, you find out that the creators or founders of DagCoin are related to the OneCoin.

Founder of DagCoin

A person behind the DagCoin is Nills Grossberg. He is an Estonian entrepreneur.Is Dagcoin a Scam

DagCoin, as a cryptocurrency has been developed by a company named DagCoin OU (“osaühing” which means private limited company) which was registered in 2017, by Nills Grossberg.

The company’s headquarters is in Tartu, a city in Estonia.

Nills is also a founder of DAG Corporation Limited, registered in Hong Kong.

He graduated from the University of Tartu with a bachelor’s degree in History.

However, this is not the first cryptocurrency company Nills is involved in.

A few years ago he was associated with OneCoin, to be more specific he was an investor in this Ponzi Scheme.

Is Dagcoin a Scam

Legal Issues with the Dagcoin

So far there are no legal issues with the DagCoin.
It was registered only 3 years ago as of this writing (July 2020) but it is important to mention that people behind the DagCoin have been associated with the OneCoin, not many years ago.

OneCoin was a cryptocurrency company, based in Bulgaria (EU) that has been charged for being a pyramid scheme (or Ponzi Scheme) in numerous countries.

Here is a short video explaining what the OnceCoin is:

Long story short;
It is estimated that OnceCoin scammed $4 billion from people!

Is Dagcoin a Scam
Source: thenextweb.com

We already see the name Dr. Ruja Ignatova for a second time.
Who is she?

She was the founder of the OneCoin scheme and currently, Ruja Ignatova is a convicted Bulgarian fraudster.

It takes only a bit of research to find out that Dagcoin is just a new version of Onecoin, in other words, a clone of this Ponzi scheme.

What is the Value of Dagcoin?

According to the official DagCoin website, it supposed to be 0.63€ for 1 DAG (that is about $0.75).

But in real life – it is just a bubble and has no value.

Once you purchase the DAGs (using one of their platforms, assuming that works) you can’t exchange it in any other currency.
In other words, you are screwed.

How do we call such a procedure when we use real money for purchasing something that has no value?
A Fraud?

Is Dagcoin a Scam

Yeah, I think that is just about right…

Is the DagCoin a Pyramid Scheme (Ponzi Scheme)?

Even though it does not look like at first sight, DagCoin is definitely a fraudulent system.

Here is the thing;Is Arbonne a Pyramid Scheme


Are we to believe that people formerly associated with OneCoin “suddenly” moved on, and decided to create a new great product that will help people to increase their financial situation?

But how?

“Investing” in something that does not even exist? What do I do with the DagCoin?

One can’t exchange it for another currency, and it is not possible to pay with these DAGs.
So what is the point?

What you can do though, is to ask others to join this scheme as well. And from what they invest in it, you make a commission.

But again, why would someone do that?

DagCoin is a loophole where people “invest” real money.
This money is distributed throughout a few people at the very top of the pyramid – those people who founded the DagCoin.

Who is DagCoin for?

It depends on who gives the answer.Is Dagcoin a Scam

The scammers who started with the DagCoin wants as many people to join as possible, promising high returns.
Unfortunately, there are still many people who would fall for this scheme.

Generally speaking, no MLM company that deals with cryptocurrency is worth of try.

It is probably tempting since it is online but, make no mistake.
There are more scammers online than in real life and they would do anything to convince you to “invest” in their fraudulent systems.
(Recently I have finished a review of the Forsage – that is in principle an illegal gifting scheme)

What is the Price to Join?

So how much can someone lose when decides do join the DagCoin?

From the official website, it is not completely obvious.

You can get a gift card with different values.

The cheapest one is 10D (approximately 6.10€), the most expensive one costs 250D (152.50€)

Is Dagcoin a Scam

As you can see, you can order up to 100 gifting cards and the “investment” ranges from 6.10€ to 15,250.00€. That is approximately $7.20 to $17,975.00.

So is that it?
The Holy purpose of this site is to buy gift cards?

Not exactly and that is why I say, it is not quite obvious.
Stay with me.

There is also something called DagUniversity – or currently called Success Factory.

Apparently there used to be systems where you as an “investor” could have asked others to join the DagCoin.

Let me explain it in the Compensation Plan Section.

Products, That DagCoin Offer

There are no products whatsoever within the DagCoin.

Now, what does it mean?

How do we call a system asking you to pay for something but in reality there is nothing tangible in return?

You are right – a Ponzi scheme.

Compensation Plan

The compensation plan is a document explaining how one can earn within the MLM company.
Usually, it is available on the website, but no such document can be found on the DagCoin site.

Nevertheless. they used to have a video, but it does not belong to the current DagCoin website nor YouTube Channel anymore.

How come?

I don’t want to go too deeply into it, but since the introduction of DagCoin, this company in that last 3 years has undergone a number of changes.

Here is the thing:

  • 1) Originally DagCoin used to be associated with the DagUniversity where one could have purchased educational courses.

Is Dagcoin a Scam

And the DagUniversity Compensation plan is still available on YouTube:

  • 2) Then DagCoin somehow switched to the Success Factory.
    This is an MLM company but it also acts as an educational company where one can purchase different courses. People were able to invest in DagCoin through this Success Factory.

Is Dagcoin a Scam

Hope you are still with me 🙂

  • 3) But it is not the case anymore and as the official statement claims:

Is Dagcoin a Scam

in case you can’t read it:
“Please note that DagCoin Gift Card is not connected with the Success Factory compensation plan and bonuses”

Does it mean that DagCoin is now only a company where one can purchase the Gift Cards?
It is not the Ponzi scheme anymore?

Apparently they have abandoned this business model and moved on. Most likely based on experience with the OnceCoin.

In other words, DagCoin is only a scam where you can “purchase” something that has no value, whatsoever.

Anyways, it is not easy to keep up with all the changes the DagCoin undergoes.
The bottom line is, something is very dodgy about this entire system.

To sum it up here is a conclusion that takes into consideration the fact that DagCoin still operates as MLM.

  1. DagCoin is a bubble and it is a fake currency
  2. MLM as a business model is no longer sustainable
  3. A combination of these two above equals an illegal Poni Scheme, where only the founder generates income (until he or she is busted).

How Much Can You Make with DagCoin ?

Based on the last information above, nothing. Zero, nada.

One can only lose money with DagCoin …

Is Dagcoin a Scam

Where to Go from Here?

You have learned something about the DagCoin, right?

But what about now?
Are you interested in how is money being made online?

I am not talking about the cryptocurrency, nor MLM. In fact, I am not a fan of MLM at all. (I was involved with one as a student, many years ago. This is not for me.)

There must be a way how to make money online.
And sure there is.

In fact, there are many ways how to start earning online. One of the easiest is affiliate marketing.

It has nothing to do with investing nor recruiting.

Let me explain:
Imagine a website that offers an objective review of a specific product(s).
For example outdoor stuff.Is Dagcoin a Scam

Let’s say you like hiking and you are looking for specific information about outdoor backpacks.
So google the keyword, and you decide to land on one of the pages that google offers.

As you read about the specs and other content, one specific backpack catches your attention.
You like it, you click on it – you are redirected to the merchant site and you make a purchase.

Now, what happened?

The owner of the first site (that you landed on) just made a commission. The merchant sold item and you have paid the regular price.
Everybody is happy.

What is my point?
You can become an owner of such an affiliate website. It is not difficult to create a website these days and with proper education, you can make your online business up and running within 10 to 14 months.
It depends on the niche you choose, but generally speaking, it takes a new website about a year until it gets a lot of traffic (assuming that you create content).

There is a platform that teaches how to have thousands of visitors on your website and in particular, this is the one where I have learned how to drive the organic (free) traffic.

Why it takes so “long”?
It simply takes time to learn new stuff and apply it.

You have basically two options:

  1. chase other shining objects that promises you high returns with no investments
  2. get your act together and start being productive

I am not sure whether you want to learn new stuff, but faculties like

  • Learn how to create your own website
  • SEO – organic traffic
  • Learn how to get other traffic to your website (also free)
  • And a lot of other internet marketing tricks and tips

are very priceless.

Once you master these, you don’t need to go to any 9-5 anymore. You will become the master of your faith, so to speak.

What I like about DagCoin

  • I don’t like anything about this Ponzi Scheme (or Cryptocurrency Pyramid Scheme if you will)

What I don’t like DagCoin

  • Clone of  infamous Ponzi scheme (the evidence that these two are connected is overwhelming) :
  • New pyramid scheme – DagCoin, particularly can collapse at any moment
  • One can’t exchange DAGs into any currency
  • After my attempt to sign up for DagCoin, no confirmation email has been sent to me, even I did ask for a resend.

Is DagCoin a Scam?

Their website looks really nice and the temptation of “investing” your money into something new, with (allegedly) a good return on investment is strong.

I get it.Is Dagcoin a Scam

But we have found out that this is nothing than a new Ponzi scheme, a clone of a different system called OneCoin.

Is DagCoin a scam?
Yes, it is.

At one time it was also called “the latest fake cryptocurrency”.

I am sure by now you understand that it is not worth trying.
You would just waste your time and money.

My guess is that DagCoin soon will be shut down and many people will lose their savings.

Final Conclusion

Somebody came up with the idea of a new cryptocurrency with one goal only.

To make as much money as possible, using deceptive marketing that promises a high return on investment.

But what returns?
Based on what?

DagCoin is just a fake system.

Creators of the DagCoin made a fancy – simple site; they did invest in marketing, shoot some cool videos to attract lots of people.
These people -misled by deceptive marketing- invest in something that doesn’t exist.
Their money is being used to support these scammers for their flashy lifestyle and whatnot.

DagCoin has exactly the same patterns as Onecoin.

My advice?
Stay away from the DagCoin!

I understand that we have covered a lot, so should you have any questions, or you want to clarify something, let me know in the comment section below.

I will do my best to provide you with feedback within 24 hours.

Thank you for reading
Cheer, Mike

Please Take a Look at Platform Teaching How To Start Business Online

I have been a member of Wealthy Affiliate since late 2017 without a prior marketing experience.
Beginning of 2018 I have learned how to build a website that drives traffic and makes sales.

Since the summer of 2019, I am a full-time internet marketer and I work from anywhere I want, whenever I want.
Training within Wealthy Affiliate teaches how to generate a consistent income in the long run. 

 

Filed Under: Fraudulent, MLM Company Review

Reader Interactions

Comments

  1. Md. Asraful Islam says

    August 19, 2020 at 2:01 am

    Thank you so much for sharing with us a beautiful and informative article. The main content of this article is the Dagcoin review. It is truly remarkable that you have presented this topic so well in your article. I have learned a lot by reading your article and gained a lot of knowledge about DagCoin. Of the points mentioned in your article, I like Products, That Compensation Plan.
    Although cryptocurrency is widely used nowadays, I think it would be foolish to join this platform as it was never a legitimate company.Finally, I enjoyed reading your article and enjoyed it so I’d like to share your article in my Facebook group if you give me permission.

    Reply
    • Mike Bahno Mudesi says

      August 19, 2020 at 12:19 pm

      Thank you for your comment

      Feel free to share the article.
      I believe more people need to find out the truth about the DagCoin and the scammers behind it. 

      Wishing you all the best
      Mike 

      Reply
  2. Ismeglamour says

    August 11, 2020 at 2:06 am

    Hello there, Thanks for sharing this awesome article I know it would be of great help to the public as it has been of help to me. Dagcoin has really become a slightly famous coin in the market but its definitely a scam as they are just there to get people to invest and they will soon be out with people money.. I don’t recommend them.

    Reply
    • Mike Bahno Mudesi says

      August 11, 2020 at 8:43 pm

      Glad you enjoy the article. 

      You are exactly right. 
      Dagcoin is a Ponzi scheme and it does not make sense to deal with them. 

      Thanks a lot for your comment,
      appreciate it. 
      Mike

      Reply
  3. charsleethan1 says

    August 3, 2020 at 8:36 am

    hello Mike, thanks alot for sharing such an excellent article with us all, i was actually doing some research online when i saw your post on Dagcoin, i saw some reviews on Dagcoin online, but i wasnt sure if it was legit or not,because my brother told me about them. but after going through your post i believe my doubt has been cleared,thanks alot for the info it really has been of great help to me. i have already saved these page on my bookmark so as to come back for future referencing. i sirely believe ill do some recommendations. you post was nice and interesting.

    Reply
    • Mike Bahno Mudesi says

      August 3, 2020 at 2:13 pm

      I am glad you find it helpful. 

      Feel free to share it. If you have any further questions let me know. 

      Thank you for your comment and have a good one 
      Mike

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

About Mike & His Website


Hi there, 

I am Mike, and I am a founder of  SetAffiliateBusiness.com.

I have been learning internet marketing since 2014. In the first couple of years I encountered numerous scams, misleading products and got sick and tired of it.
With Set Affiliate Business I want to help other people to learn how they can avoid the scams, and how to get on the path of creating a sustainable business online.

You can read more about me here.
If you want to get in touch with me, please leave a comment or write me an email.

This is No Ad

Recent Posts

  • Is OnePoll a Scam
  • Is The Seiden Strategies a Scam?
  • Alliance Econ Group Review
  • GPTHub Review
  • Is Project 303 a Scam?
  • Is Crowd1 a Scam?
  • Is Auvoria Prime A Scam?
  • Is FBS a Scam?
  • Is Mirror Trading International A Scam?
  • Purple Mining Review
  • My Crypto Rev Review
  • TheoremReach Review
  • Is Xpango a Scam?
  • Is MyBitcoinTube a Scam?
  • Is Clicxads a Scam
  • Bitcno Review
  • Beurax Review
  • Adasa Group Review
  • Tronex World Review
  • Is PetronPay a Scam?

Footer

Privacy Policy. Earnigs Disclaimer. Affiliate Disclosure.
© 2021 SetAffiliateBusiness.com. All Rights Reserved.