OneCoin describes itself as a cryptocurrency framework based on the blockchain technology. It is promoted by OneCoin Limited, a organization that works across the world with physical workplaces in Europe, Hong Kong and the United Arab Emirates.
OneCoin was propelled by a Bulgarian citizen named Ruja Ignatova. OneCoin professes to operate like any other standard cryptocurrency whose coins can be produced through the process of crypto mining, and can be utilized to make payments worldwide.
It accompanies its own e-wallet, and a sum of 120 billion coins are accessible on the OneCoin system.
In any case, OneCoin is additionally affirmed to be a multi level marketing (MLM) scheme or a fraud scheme.
While there is no lucidity about an operating blockchain model or a payment system of OneCoin, it is known to sell different instructive stuff, that include special and limited combo packs on sale, to the members.
These courses are about digital forms of money, exchanging, ventures, and related issues like financial analysis and resource management. A member is required to pay for these courses.
Also, members are encouraged with referral prizes to get more members, a mechanism which fits a MLM plot.
There are numerous reports claiming OneCoin to be a fraud scheme and the local authorities making a move against it in a few nations, that include those in OneCoin's nation of origin y Bulgaria, and in United Kingdom and India.