Global Coin Reserve – Is it a scam?

global-coin-reserve-mainName: Global Coin Reserve

Website(s): www.gcrmarketing.com

Price: $29.95/mth, $69/mth, $149.95/mth, $299.95/mth & More upsells

Owners: Bob Wood, Linda Helin & Mike Ward

Bare Naked Scam Rating: 4 Thumbs Down

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Global Coin Reserve Update December 2015

Global Coin Reserve shuts its doors

Global-Coin-Reserve-closed

Global Coin Reserve Price update November 2015

GCR Coins are finally listed on an exchange (bittrex) on 24 August 2015. Within days of trading, GCR Coins has been devalued by almost 94%. On 24 August 2015, the value of a GCR Coin is 0.0023 and on 30 November 2015, its value is 0.0001152. The value of the GCR Coin has never climbed since. Check out a screenshot of the GCR coin trading chart:

GCR-coin-value

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Global Coin Reserve Price update February 2016

Before inception of the GCR coin where the leaders of the Global Coin Reserve promises its members great returns on their investment, I voiced my opinion that the price of the coin will depend on its demand, and I was quite certain that the coin will not fetch its desired demand (you can read my review below). Since its inception in August 2015, it has lost 94% of its value in the span of 3 months. Now, in February 2016, its almost 6 months from its inception, let us take a look at the price of the GCR coin:

Global-Coin-Reserve-Update-Feb-16

In November 2015, the price of the GCR coin is 0.0001152, and in a span of another 3 months, the coin has been devalued once again by another 78.91% to a low of 0.00002429 in February 2016. Imagine if you are heavily invested in GCR coin at the very beginning, you would have lost almost everything (-98.94%). I strongly doubt that the value of the GCR coin will ever climb back to its initial price, unless we can see huge demand for the coin.

Do you know what is Global Coin Reserve and Cryptocurrency?

I’m pretty sure you are introduced to Global Coin Reserve and you want to know if it is a good platform for you to make money. In order to understand what Global Coin Reserve truly is, you have to first understand Cryptocurrency. Cryptocurrency is a digital currency which is generally accepted by a group of people. The first cryptocurrency in the market is Bitcoin, which is created by a anonymous person who want to be named as Satoshi Nakamoto.

To have an in-depth understanding of Global Coin Reserve, there will be a lot of discussions on Bitcoin as there is a strong correlation between the both. Bitcoin is one of the most renown Cryptocurrencies in the market and at this moment, while I am writing this article, the perceived value of 1 Bitcoin equates to $243.98 (13 May 2015 at 2230).

global-coin-reserve-price-today

Unlike real currencies, cryptocurrency has no Government intervention, the value of the cryptocurrency is determined by both the buyer and the seller at the point where a transaction is made. There are hundreds and thousands of servers in this world that tracks each and every transaction made using Bitcoin. So, notice how I record the time and date for the value of Bitcoin, it is because each minute where a Bitcoin transaction is made will change the value of Bitcoin.

Explanation of Cryptocurrency

If you go way back to history, before dollar bills were even made, people trade actual goods with one another. For example, because I want chicken, I am willing to trade one sheep for 5 chickens, if the other party accepts my offer then the trade is successful. In the past, currency is made between the goods which are acceptable to both parties.

In Cryptocurrency, it is generally the same, as long as both parties accepts a certain amount of Cryptocurrency for a service or an item, the trade is successful. For example, if I accept 1 Cryptocurrency for a  pizza, then 1 Crytocurrrency is worth the value of a pizza. Simple as it is, but this is just the surface of it.

There are many things to consider before you invest your “Real” money in Cryptocurrencies.

Here is a video which may enhance your understanding of Cryptocurrencies:

So now that you understand what Cryptocurrency is, let us take a look at what Global Coin Reserve is.

What is Global Coin Reserve?

Global Coin Reserve is an MLM company that provides Cryptocurrency mining services. Here is a video that will help you understand what Crytocurrency mining is:

So, with all that being said, Global Coin Reserve created their very own cryptocurrency called “GCR Coins”. GCR coins are no different then other cyyptocurrencies like litecoin, namecoin and feathercoin, the only difference is that GCR coins are not as widely used as the rest or not used at all.

To be honest, cryptocurrency is generally traded if both parties agree to it. GCR coins are not widely known or even used for trading. It is basically trying to mimic Bitcoin back in 2009 when it first started.

There is a huge risk if GCR coins ever fall out. You might have cashed in on worthless digital coins. If nobody wants GCR coins as part of the trade, its value is equivalent to nothing. If you have invested “Real money” into GCR coins, you might have lost every penny of it.

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You probably understood from the videos above on what a Block Chain is, someone once questioned Global Coin Reserve to reveal its block chain to see if GCR coins are real and whether any transactions are made with it. The reply to the question was “it will be a waste of its programmers’ time”. To me, my scam alarm bell is ringing.

On 24 August 2015, the GCR coin is finally listed on bittrex.com at the price of 0.0023 and has quickly depreciated its value by 94% to 0.0001152 as at 30 August 2015. Imagine having invested heavily on GCR coins on 24 August 2015, you would have lost almost everything.

To me, Global Coin Reserve is not in the business of Cryptocurrencies, Cryptocurrency is just a smoke screen for its real business. Global Coin Reserve is in the business of Multi-Level Marketing. I will further explain below.

The Global Coin Reserve Opportunity – What it has to offer

So you see, Global Coin Reserve is a Multi-Level Marketing Company. Somehow or rather I feel that this company sounds more like a pyramid scheme to me. There is no real value behind the product, you basically make money through other people’s membership fee.

And, if you want to make money with Global Coin Reserve, you can forget about joining the first 2 packages (1st Package: $29.95 with no monthly fee and 2nd package: $29.95 with $29.95 monthly fee), because there are no avenue for an income stream. You can’t make money with it and you get worthless items. If you want to make money from the Global Coin Reserve, you would have to join the Bronze package and above, which to me is a huge amount of money.

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If you realise that there is no mentioning about the way you can make money with your GCR Coins. I truly believe that you can never be able to use GCR coins anywhere in this world. I hope you would reconsider before you join.

My Sincere Advice to You

I am not an expert in Cryptocurrency so I can’t advise how to make money using through it, but one thing I know is that if you are new to Cryptocurrency, you will probably have a hard time getting started on how to make money with it. There are no specific place I know of that will actually teach or guide you on how to mine Cryptocurrencies.

Moreover, even if you are an expert in mining Cryptocurrencies, it depends on the type of Cryptocurrency you are mining. If there are nobody accepting the type of Cryptocurrency you have, you are basically holding on to nothing. Worst of all, if you actually invested real money to buy a Cryptocurrency that nobody wants, that will be a real disaster.

With all that being said, do you think you still want to invest money and time on Global Coin Reserve? Do you still want to invest real money to buy some coins that may or may not be worth a dollar tomorrow?

If you want my honest opinion, I will say that Global Coin Reserve is definitely not a place you should be involved in. If you still want to pursue on as a Cryptocurrency miner, I can’t advice you on how to get started, however, if you want to make money online, I would highly recommend that you check out this program. Here is my proof that my recommendation works.

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As always, I invite you to share your views on Global Coin Reserve. All you need to do is leave a comment below. If you find  my article useful, please help to share it by clicking on the social media buttons below.

Your pal,

Jack

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About the Author

Jack is an experienced online marketer who would like to extend his help to whomever wants to learn more about building a successful online business. Connect with me on Facebook, Twitter, and Google Plus. Read more about Jack and BareNakedScam.com here...

Leave a Reply 32 comments

Edward Staffieri - Reply

Back in Aug 2015 I had account with GCR and was mining from their package at 4 coins per day totally 1,281 coins ..the site I see is now closed down relevant site GCR domain name for sale…are my coins lost ….

    Jack Cao - Reply

    Tricky question… Did GCR prompt you to create an account with a cryptocurrency exchange? Alternatively, you may want to download your wallet and try with your previous login details:

    http://www.gcrcoin.com/wallet

    Please update me to see if this works.

    Cheers!
    ~Jack (BareNakedScam)

Jet - Reply

Hi Jack, you review on scams looks interesting & have some truth. Have you heard of Onecoin, Scoin (by Coin space) & Earthcoin. They also seem like MLM but do you think that are they also scams/frauds like Globalcoin? Recently I’ve been approached by my manager to attend a meeting by Scoin & was then encouraged to sign up & give them my personal & bank details. I gave them some information but stop short of giving them my bank details as I noted that their way of doing cryptocurrency business looks more like MLM (investments) than Scoin mining. In addition I found that Malta (S-coin company’s address) issued a warning that S-coin investment is extremely risky as it doesn’t have the proper licence to give/trade any financial advise/products. In addition, I also can’t find the open-source data (or white paper) on the special features of their S-coin. So I decided to pulled back. But my manager was persistent & kept urging me to buy a package. I advised him to diversify to other altcoins if he is so keen to invest in cryptocurrency but he seems very absorbed into S-coin investment (& S-coin “cloud mining”). Maybe you can comment/advise? Thanks.

    Jack Cao - Reply

    Hi Jet,

    You can check out my review on OneCoin here, and the review on S Coin here.

    The risk to buy into Cryptocurrency that is not listed is extremely high.

    But, if you want to invest in them before listing, you have to understand the use of the coin, and whether the management of the company is trustworthy, plus you need to know the track record of those that are running it.

    Without any of that information, you are just throwing your money away.

    Hope this helps!

    Cheers!
    ~Jack (BareNakedScam)

DINESH BOHRA - Reply

value of gcr coins is increasing day by day !! is gcr coins promising with demand case !! IN INDIA THEY ARE OFFERING GCR COINS WITH SOME BINARY SCHEME !! DO SUGGEST

    Jack Cao - Reply

    As far as I know, the GCR management has closed its business on Dec 2015. Maybe someone else has taken over the business, or for some reasons that someone is manipulating the market, I can’t determine at this moment. Will get right back at you when I have any news.

Lindy - Reply

Im tempted to Buy but i really need more info on GCR IS IT WORTH IT??

Nomlm - Reply

Hi, Jack. In Seville (Spain) Ruben Arcas and Salvatore D’ Arco (former GCR managment) opened a new mlm : Poolminers (Sarcoin) , on the same pattern . Can you do a review ,please ? Thank you for your helpful job.

    Jack Cao - Reply

    I’ll look into that and will post the link of the new review here.

    Cheers!
    ~Jack (BareNakedScam)

Gopi - Reply

GCR project failed and now the scammers have new SARCOIN in poolminers dot com and beware it is same owners and from management of gcr.

Jeff Cessna - Reply

I think Jack has missed the point with GCR’s potential. I think everyone should buy some GCR for the long hold. Look at Bitcoin, if you bought Bitcoin when it was first put on the exchange a $1000 dollar investment would have made you millions in a few years time. Bitcoin was the first cryptocurrency and yet still the vast majority of people have not heard of it.

Enter GCR and there direct sales plan. My understanding is that GCR is providing a platform for which Bitcoin and GCR coins can grow in value. There sales force will be going to merchants across the country getting them to accept GCR coins. This will broaden awareness and increase its value, so the MLM angle is a good thing and in my opinion an advantage over the other coins. My real concern in funding. Do they have enough money to see this thing through?

    Jack Cao - Reply

    I’ve got information that GCR’s project failed and the owners are now at a different program called Poolminers.com.

    Have you invested with GCR? Better take a look at your investment if you have invested in it.

    Cheers!
    ~Jack (BareNakedScam)

Stephen - Reply

Does gcr really have value in the crypto currency?
What is the future of gcr?

    Jack Cao - Reply

    Hey Stephen,

    I have just updated the GCR review. You may read it again.

    Cheers!
    ~Jack (BareNakedScam)

Jo - Reply

The coin is public ,but its value is very low.It has lost 94% of its value.
http://www.bittrex.com

    Jack Cao - Reply

    Thanks for your info! Like finally!

    I guess I am right about the demand of the coin. Many GCR leaders promised that once the coin goes public you will make tonnes of money. I would rather put hope into a soild online business.

    Cheers!
    ~Jack (BareNakedScam)

Bitcoin Cryptocurrency - Reply

dear all readers:–

sorry for this-but its real, in GCR coin Leaders are we just making money against their new joining and and their renewal the package, no rate come till today and in future will not come, they said cryptocurrency rate coming is like this, we don’t know what is cryptocurrency thats why we are said that GCR coin is scam.

every month said rate will come this month/ that month/ this days blahhh- blahhh.

be care full all GCR coin members, may be you are going to be BIG shocked after sometime.

Leaders are spoiled MLM word this days,
one real and sequer platform you may join if you like to do for whole life,
the plan run by group of crypto core team around the World.
this open source protocol plan
no third party controlled-
no user name requerd
no password rrequerd

atutomatic everything even withdrawal too
no need to give withdraw from the system,
30% growth your Bitcoin every cuycle,
reafferel commission 3levl-
1st-5%, 2nd-3%, 3rd- 1% direct to your Blockchain wallet

Rod - Reply

GCR is now live (????) , so they have written!

    Jack Cao - Reply

    Hi Rod,

    I have tried searching high and low but I still can’t find the where it is listed. Care to share if you know?

    Cheers!
    ~Jack (BareNakedScam)

Paul - Reply

“We are going live soon. Just checking for bugs and glitches. So after it goes live we dont face any problems.”… so they wrote.

Paul - Reply

An investor wrote on a fb page to have no news from GCR from Friday.

Rob - Reply

Did you buy any GCR coins just in case?

    Jack Cao - Reply

    Nope. I am not throwing in money every month to gamble. If it really happens, so be it. I don’t expect myself to be a millionaire overnight and so shouldn’t you. There are a lot more ways to make stable and consistent money on the internet. I would rather spend my resources to build myself a credible online business than to gamble my resources.

    Cheers!
    ~Jack (BareNakedScam)

Rod - Reply

It is a lot of time that GCR would have to be pubblic: 29 jan, the first week of June, the second……Now the third is beginning ……

    Jack Cao - Reply

    I am not sure it will really go public and if it goes public I am not sure if there will be a demand to drive the price. This is my personal opinion.

    Cheers!
    ~Jack (BareNakedScam)

Paul - Reply

Thank you ,Jack, for your helpful advice . I will be away from GCR. Linda Helin , Sasa D’Arco, Mike Ward…. they don’t inspire confidence.

Sasa - Reply

This ownership is apalling. Has anyone heard the CMO open her Mouth?? She sounds like she smokes 12 packs of cigarettes a day.

She constantly is a making poor comments in skype room to people. She dont a listen to the no one.

why thy dont listen to the a smart individuals in room?

Now they hide the exchange they are on? Why? because the coin wont be a worth more then a 5 cent nickel so they dont want the controversial that happen.

I bring in many to this and regional director.

Mr. Bob Wood….he has no say….he just follow Linda Orders.

There are a many smart smart peoplein GCR and Big Mouth Linda is poor leader .

Pratheesh Kumar PK - Reply

I go through your opinion on Global Coin Reserve (GCR), In this regards I would like to bring following facts to your notice :-

#1. When a Crypto Currency got its value.

A crypto currency will gets its value after launching/listed in any Crypto Currency Exchange. At present GCR has not listed in any Crypto Currency Exchange, so its value is now Zero. However, it is being listed in Exchange during 1st week of June 2015. It is sure that its value will not Zero after listing because GCR Coin have Gold Backup worth 1 Million Dollar.

#2. None have using GCR Coin

Yes at present non can Buy or Sell even use for purchase GCR Coin because it have no value and not listed in any Exchange.

#3. Providing of Wallet

The wallet will be available after getting of value of coin.

#4. As regards Multi-Level Marketing in GCR & pyramid scheme

In this connection I would like to explain about following to facts to clear your misunderstanding about GCR:-

GCR is not a pyramid scheme, because they have a product that is “1 Click Mining Packages” and its co-product is GCR Coins. If you purchase one Mining Package you will get GCR Coins upto 30 days as per details given below “ with $70 mining pack you will get 8-10 Coins Per day, with $150 mining package you will get 40 Coins Per day, with $300 Mining Package you will get 80 Coins Per day, with $1000 mining package you will get 300 Coins per day and with $3000 mining package you will get 900 Coins per day. The package will expire after 30 days. If you wants GCR Coins again for next 30 days you should renew your package otherwise your account will not be cancelled (REPEAT WILL NOT BE CANCELLED) and the GCR Coins you have in your GCR Coin Wallet is yours you can use it after listing the GCR Coins in Crypto Currency Exchanges, means you can sell or buy or to convert to other Crypto Currency Coins like BitCoin etc.

As regards Networking/Multi-Level Marketing, the option for networking/Multi-Level Marketing is only OPTIONAL not mandatory. If you promote GCR by referring other you will get bonus for your extra work as per the Bonus plan explained, otherwise your account will not be cancelled and you can use your existing GCR Coins as you wish.

#5 As regards genuinely of GCR Coin, its name has been published in Hitbtc Crypto Currency Exchange among the new Coins to be listed in their exchange. If GCR Coins is not a Crypto Currency and not a Genuine Coins the reputed Crypto Currency Exchange Hitbtc will not place GCR’s Name in their list.

    Jack Cao - Reply

    We are in the first week of June 2015. Is GCR coins listed yet? What is the value of it now?

    Cheers!
    ~Jack (BareNakedScam)

    Paul - Reply

    We are in the fourth week of june….I think Jack has right: GCR will never go live.

Sarah - Reply

I’ve heard of this but didn’t know very much about it. What do you think about people that are buying up Iraqi Dinar and hoping their value will increase? Is this much different than that?

    Jack Cao - Reply

    Nope! No difference. It is gambling. Bitcoin is different because there is already groups of people who accept it as a currency. However, in GCR, there’s no one accepting it.

    Cheers!
    ~Jack (BareNakedScam)

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