Today we’ll look at something different than forex brokers, Metherworld offers forex trading platform for its users but widely known for its cryptocurrency. The reason I’m writing this post is that, I believe that, you should them with caution. There are things that I’m not completely comfortable with.
Why don’t we look at Metherworld’s plans and operation and I’ll leave you to decide whether Metherworld is legit or not.
What is Metherworld Coin?
Metherworld is a multinational company that claims to have been established in Estonia in 2020. The company offers several products, including its own cryptocurrency named ‘M Coin‘, crypto exchange, a forex trading system, its own blockchain system, and also provides crypto trading services.
Additionally, Metherworld claims to have its own NFTs and it offers a variety of e-learning courses on its platform, claiming to offer some of the best courses on Web 3.0. The company also claims that they provide high-quality e-education.
Metherworld Company Details:
- Company Name: Metherworld
- Launch Date: 2020
- Owner Name: Not Disclosed
- Metherworld Crypto: M Coin
- Main Office: Kiire tee 10, Suurupi, 76907 Harju, Estonia
- Official Website: https://metherworld.com/
- Support Email: email@example.com
Metherworld has also launched its MLM plan, which has contributed to its popularity in India. Another reason for its fame in India is its cryptocurrency, M Coin.
What is M Coin?
M Coin is a cryptocurrency launched by Metherworld itself. The company describes M Coin as a utility token. We’ll dive into more details about M Coin, such as what it is, its price, and whether it is real or fake, in our following sections.
What Plans Does Metherworld Offer?
I’ve listed all I could find on Metherworld’s offerings below. It’s better to say that even though they offer these plans, I doubt their legitimacy.
This pricing structure offers a variety of subscription packages for customers to choose from. It starts with a Bronze package that has a $30 joining fee. The packages range in cost and benefits, with options like the Starter, Standard, Platinum, Exclusive, Pearl, Premium, Ultimate, Professional, Master, Master Pro, and Infinity packages, each with different upfront fees and weekly payment amounts over the course of 100 weeks. Customers can select a package that best suits their budget and needs, with the higher-tier packages offering more extensive benefits but also requiring larger upfront and weekly payments.
|$2 every week for 100 weeks
|$6 every week for 100 weeks
|$10 every week for 100 weeks
|$20 every week for 100 weeks
|$40 every week for 100 weeks
|$60 every week for 100 weeks
|$110 every week for 100 weeks
|$225 every week for 100 weeks
|$600 every week for 100 weeks
|Master Pro Package
|$1200 every week for 100 weeks
|$2500 every week for 100 weeks
Metherworld Affiliate Programs:
Metherworld offers a variety of Affiliate Programs which can be understood as a sort of ‘Refer and Earn’ system. Below is the list of all Refer and Earn programs.
These bonuses include the Introduction Bonus, which serves as an initial reward for joining or referring new members. The Advisory Bonus pertains to bonuses associated with advisory or mentorship roles. The Direct Referral Bonus is given for directly bringing in new members or customers. The Residual Bonus encompasses continuous bonuses tied to ongoing activity or performance. Team Building Bonuses are earned for building and managing teams or downlines, while Team Matching Bonuses are granted for matching the performance of team members. Lastly, the Rank Rewards Bonus is based on achieving specific ranks within the organization.
|Initial bonus for joining or introducing new members.
|Bonus related to advisory or mentorship roles.
|Direct Referral Bonus
|Bonus for directly referring new members or customers.
|Continuous bonuses based on ongoing activity or performance.
|Team Building Bonus
|Bonuses related to building and managing teams or downlines.
|Team Matching Bonus
|Bonuses for matching the performance of your team members.
|Rank Rewards Bonus
|Bonuses based on achieving specific ranks within the organization.
Metherworld Coin Price in India:
The price of Metherworld coin (M Coin) is currently varying across different platforms. For example, it’s priced at INR 139 on Coingecko, INR 172 on BscScan, and INR 195 on ArthBit. On Crypto.com, it’s priced at $0.1188 USD, which is approximately INR 9.37.
How to Login to Metherworld?
Logging in is quite simple. First, go to the offical website or just directly search for Metherworld on your mobile or desktop. Click on the first site that appears, and you will be directed to the login page. There, you can enter your username and password to log in. For creating a new account, click on ‘Register’.
How to Withdraw Metherworld Coin?
First, you need to log in to your Metherworld account. It is crucial that your ID has 2-Step authentication enabled and your KYC is completed; only then can you make a withdrawal. Follow the steps below to proceed with the withdrawal:
- Click on the 3 lines on the right side corner of your Dashboard.
- Click on ‘My Earnings’ and then on ‘Smart Staking’.
- You will see the details of your account’s earnings on the screen.
- Check your ‘Available Stake Coin’; you can withdraw as much as you have.
- Below that section, you will see ‘Balance’, and right below that, click on ‘Request withdrawal’.
- You will see all the details of the withdrawal. You can fill in the amount you want to withdraw. Note that you can only withdraw when your withdrawal value is more than 50.
- Make sure your Withdrawal MCoin Address is correct.
- You can take withdrawals on both MetaMask and TradeBit Exchanges.
- After checking all details, click ‘Submit’.
- An OTP will be sent to your registered email ID, fill it in first. Then, a second OTP will be sent for Google Verification Code on your Authenticator or 2-step verification, fill that in.
- Finally, click on ‘Confirm Transfer’, and your amount will be withdrawn.
- Note that there is a 5% service charge on the withdrawal amount.
Is Metherworld a Scam?
It’s not appropriate to directly label any platform as real or fake. However, we can deduce the nature of the company by observing its activities and other aspects.
Before Metherworld, there have been other companies that have turned out to be scams. Typically, scam companies operate in the market for about 6-7 years, offer services, gain people’s trust, and then suddenly commit a scam. No scam company does this in just 1-2 years.
Before this, there was a company named Cryptoworldtrading.net, which scammed INR 250 crores after 5 years.
Based on my research and observations, there are several reasons to believe that Metherworld might not be a legitimate company. It lacks a strong base, and the biggest concern is that it’s an MLM company, benefiting only those at the top for a short period, while those at the bottom eventually fall prey to scams.
You are wise, and the decision to invest in this company is yours to make. But my humble advise is not to invest in this company.
My Overview on Metherworld’ Operations
When digging into this company, I noticed several things that I will try to share here. Therefore, please read this thoroughly till the end.
- Not Revealing the Owner’s Name:
The company is almost 3 years old, but until now, no information about the owner has been provided. Only information about the leadership team, including CEO Denis Shehu, CMO Andrzej Adam, MO Daniel Weiss, Blockchain Head Robert Ciurkot, and second Blockchain head Paul Smith, has been given. When I checked Denis Shehu’s social media account, it appeared that he is from Dubai and all posts are about Dubai. Any company linked to Dubai should not be trusted. Do you know that Dubai is known as the MLM Crime Capital of the world? This is because people here target individuals from Tier-3 countries every year and commit MLM scams.
- No Actual Office at the Given Head Office Address:
When I searched for the head office address provided on the Metherworld site, there was nothing like an office there. You can also check on Google Maps; I have provided their address in the company details above. This gives you an idea of why these people mention unknown countries and cities. Because people in less developed countries tend to invest directly when they see an enticing plan and do not verify the company’s details.
- Targeting Only India:
Do you know that all foreign MLM companies target only Tier 3 countries like Pakistan, Afghanistan, Africa, and India? This is because people in less developed countries are easily influenced by enticing things. This makes it very convenient for scammers to target their audience.
- Repeatedly Closing the Registration Process:
I first noticed that whenever I try to register, it shows “Registration Temporarily Disabled”. This has happened several times; sometimes it works, sometimes it’s closed. It’s impossible for such a big company to close registration or face a server error.
- Showing One Thing, Doing Another:
If you go to their home page or About Us page, it’s clear that this is a company providing E-education. Nowhere is the Metherworld MLM plan directly shown. However, the main purpose of this company is to connect people through the MLM Plan and promote the company’s crypto MCOIN. The company is showing something and doing something else.
- No Direct Social Media Account:
You won’t find any direct active social media account of theirs. There are no official accounts on Instagram or Facebook. All the accounts you see are individual accounts.
- No Direct Withdrawal:
When you withdraw from Metherworld, your withdrawal amount is first transferred to Metamask or Tradebit exchange. And you are charged up to 5% for this transfer. The withdrawal is not instant; you are given a 7-day timeframe. And then, when you transfer from these exchanges to your bank, you are charged again. There should be an option for direct withdrawal, allowing you to transfer money directly to your bank account.
I tried to provide all the information about the Metherworld company I cound find. You are wise enough to make your own decisions and know know what to invest in. It is your decision to make. If you have been a victim of their scam please comment below so people will see.
So far, the name of the owner of Metherworld has not been disclosed. I searched on almost all platforms for the name of the Metherworld owner but no results whatsoever.
The cryptocurrency launched by the Metherworld company is named MCoin. Its current price is mentioned in the article above.
Our advice is that you should not join it. If you are joining, do not invest much money by mistake