New Tycoon Plus is a cryptocurrency earnings system that recently popped up in the market and is gaining in traction. However, after digging into this one, we found some clear red flags that suggest that this is nothing more than another scam. Here are the key issues that we’ve found with regard to New Tycoon Plus:
- Outlandish claims of earnings made by the company.
- Unethical marketing tactics seen on the website.
- The unsustainable way in which the company claims that cryptocurrency profits are made.
- Scout the Scam Sniffer’s final thoughts.
Outlandish Claims Made By New Tycoon Plus
Following along the lines of just about every scam that we’ve reviewed thus far, New Tycoon Plus is focused on making outlandish promises of massive earnings in an attempt to lure unsuspecting victims into its grasps. According to the company, the idea is to lease cryptocurrency mining equipment with an investment that can be as little as $100. Once the investment is paid, investors are paid monthly passive income by way of interest and their money is returned on the seventh month. According to the website, you can unlock the door to uncapped amounts of money with small investments. Yes, that’s likely a scam!
Unethical Marketing Tactics Seen On The Website
New Tycoon Plus uses blatant unethical marketing tactics that are seen on just about every scam out there. Essentially, the company claims to limit Mining Power, which are, according to the company, mining leases that can be purchased for $100. Like most scams, New Tycoon Plus went out of their way to create a sense of urgency to make investors feel as though they need to act now or they will miss out on the opportunity. This is one of the first things seen on the website where the company points out that there is under 8,000 MP left. That works out to under $800,000 in available spots, which is relatively small in the cryptocurrency space. So, this could create a sense of urgency in the unsuspecting public.
The Unsustainable Way In Which The Company Claims That Cryptocurrency Profits Are Made
According to New Tycoon Plus, passive income is earned through investments made in blocks of $100. According to the website, you start by purchasing MP in blocks of $100. From there, you are paid 4% per month interest on your investment. At the end of a 7 month period, the MP will be purchased back from you at the original price of $100 per block.
Let’s break this down. Essentially, you are giving New Tycoon Plus a loan of $100 per MP. With that loan, New Tycoon Plus is paying an interest rate of 4% per month, which works out to a 48% APR. That’s absolutely massive. At the end of the day, there isn’t a company on the face of the earth that would subject themselves to loans with such high interest rates. No matter how the service is boxed up, or how many pretty bows are added to the top of the package, the only sensible way to look at New Tycoon Plus is to point out that it follows along the lines of a Ponzi scheme!
Scout The Scam Sniffer’s Final Thoughts
Scout the Scam Sniffer dug deep on this one, and it seemed as though every time he broke a little more ground on it, the fishy smell only got worse. Unfortunately, Scout was able to uncover some key issues with the fundamental message posed by New Tycoon Plus, leading the Crypto Scam Sniffer team to close the investigation. Scout the Scam Sniffer has come to the conclusion that the New Tycoon Plus earnings system is nothing more than a shameless scam!
Do you know of another cryptocurrency-related scam? Throw Scout a bone!