ProCap Insurance coverage fails to offer possession or government info on its web site.
ProCap Insurance coverage’s web site area (“procap.insure”), was privately registered on December twelfth, 2023.
In an try to look authentic, ProCap Insurance coverage touts a shell firm in Seychelles.
However Seychelles being a tax-haven, for the aim of MLM due-diligence shell incorporation anyplace is meaningless.
Of be aware is ProCap Insurance coverage claiming to have workplaces in Manila, Philippines.
This ties into the arrest of twenty ProCap Insurance coverage scammers on October fifteenth.
As per a press-release issued by the Philippine Legal Investigation and Detection Group, twelve locals and eight overseas nationals have been arrested at a advertising occasion held on the Dusit Thani Resort.
In the course of the operation, authorities recovered three (3) real One-Thousand-peso payments (Dusted Cash), 4 Hundred Fifty-One-Thousand-peso (Funding Cash), and one (1) USB Flash drive containing the Powerpoint Presentation of the stated unlicensed firm.
The overseas nationals look like Chinese language and/or Singapore nationals primarily based out of Singapore.
If I needed to guess, the overseas nationals have been possible working or tied to working ProCap Insurance coverage. Arrested locals have been possible principally ringleader promoters.
The arrestees have been criminally charged with securities fraud and violating the Monetary Merchandise and Companies Shopper Safety Act.
At time of publication ProCap Insurance coverage’s web site remains to be on-line, so learn on for a full evaluate.
ProCap Insurance coverage’s Merchandise
ProCap Insurance coverage has no retailable services or products.
Associates are solely capable of market ProCap Insurance coverage affiliate membership itself.
ProCap Insurance coverage’s Compensation Plan
ProCap Insurance coverage associates make investments tether (USDT).
That is finished on the promise of marketed returns:
- Coverage 1 – make investments 1235 USDT and obtain as much as 35 USDT a day
- Coverage 2 – make investments 2470 USDT and obtain as much as 70 USDT a day
- Coverage 3 – make investments 12,350 USDT and obtain as much as 350 USDT a day
- Coverage 4 – make investments 24,700 USDT and obtain as much as 700 USDT a day
- Coverage 5 – make investments 74,100 USDT and obtain as much as 2100 USDT a day
The MLM aspect of ProCap Insurance coverage pays on recruitment of affiliate traders.
ProCap Insurance coverage Affiliate Ranks
There are 5 affiliate ranks inside ProCap Insurance coverage’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- 1 Star – generate 20,000 USDT of downline funding in three recruitment legs
- 2 Star – have three recruitment legs with a 1 Star or increased in them
- 3 Star – have three recruitment legs with a 2 Star or increased in them
- 4 Star – have three recruitment legs with a 3 Star or increased in them
- 5 Star – have three recruitment legs with a 4 Star or increased in them
Referral Commissions
ProCap Insurance coverage pays referral commissions on invested USDT.
Referral fee charges are decided by how a lot an affiliate has invested:
- make investments on the Coverage 1 and a pair of tiers and obtain a 5% referral fee price
- make investments on the Coverage 3 tier and obtain a 6% referral fee price
- make investments on the Coverage 4 tier and obtain a 7% referral fee price
- make investments on the Coverage 5 tier and obtain an 8% referral fee price
Observe that referral commissions are coded, which means associates who’ve invested extra obtain the distinction paid to their downline.
E.g. a Coverage 3 tier affiliate recruits a brand new affiliate and receives their 6% referral fee price.
The remaining 2% (8% – 6% paid out), is paid upline to the primary Coverage 4 or Coverage 5 tier affiliate discovered.
If a Coverage 4 affiliate is discovered upline first, they obtain 1%. The remaining 1% is paid out to the primary upline Coverage 5 tier affiliate discovered.
If a Coverage 5 affiliate is discovered upline first, they obtain the complete 2% excellent fee.
Observe that nothing is ever handed up from a Coverage 5 affiliate. They both obtain 8% on their very own recruitment, or any excellent coded quantity being handed up.
Matching Bonus
ProCap Insurance coverage pays a Matching Bonus on returns paid to downline associates.
The Matching Bonus is paid out through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel crew, with each personally recruited affiliate positioned instantly underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel crew.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
ProCap Insurance coverage caps the Matching Bonus at twenty unilevel crew ranges.
The Matching Bonus is paid out as a share of day by day returns paid throughout these twenty ranges primarily based on private funding:
- make investments at Coverage 1 or Coverage 2 and obtain an 8% match on degree 1, 6% on degree 2 and 4% on ranges 3 to five
- make investments at Coverage 3 and obtain an 8% match on degree 1, 6% on degree 2, 4% on ranges 3 to five and a pair of% on ranges 6 to 10
- make investments at Coverage 4 and obtain an 8% match on degree 1, 6% on degree 2, 4% on ranges 3 to five, 2% on ranges 6 to 10 and 1% on ranges 11 to fifteen
- make investments at Coverage 5 and obtain an 8% match on degree 1, 6% on degree 2, 4% on ranges 3 to five, 2% on ranges 6 to 10 and 1% on ranges 11 to twenty
Management Rewards
Management Rewards is a rank-based bonus on downline funding.
- 1 Stars obtain a 1% Management Reward
- 2 Stars obtain a 2% Management Reward
- 3 Stars obtain a 3% Management Reward
- 4 Stars obtain a 4% Management Reward
- 5 Stars obtain a 5% Management Reward
Observe that
- if an affiliate has three extra recruitment legs every with 1235 USDT or extra in invested funds, Management Rewards are doubled
- if an affiliate has three extra recruitment legs every with 20,000 USDT or extra invested funds, Management Rewards are tripled
Becoming a member of ProCap Insurance coverage
ProCap Insurance coverage affiliate membership is free.
Full participation within the connected revenue alternative requires a minimal 1235 USDT funding.
ProCap Insurance coverage Conclusion
ProCap Insurance coverage’s ruse is “playing insurance coverage”.
ProCap Insurance coverage gives insurance coverage protection to your capital if you interact in predictions video games from approved operators.
Policyholders can expertise our protection dwell at Nagaworld of Phnom Penh, Crown Worldwide On line casino of Danang, Hoiana On line casino of Quảng Nam, Resort World Manila, and Dream Tower of Jeju Island.
Evidently playing insurance coverage isn’t a factor. Not one of the gaming venues cited above have something to do with ProCap Insurance coverage.
Dare I say it, ProCap Insurance coverage naming these gaming venues might need led to the Philippine arrests.
Notably the Philippines shouldn’t be a significant supply of visitors to ProCap Insurance coverage’s web site.
As of September 2023, SimilarWeb tracks high sources of ProCap Insurance coverage web site visitors as Japan (33%, down 32% month on month), the US (20%), Indonesia (16%), Switzerland (10%) and Germany (9%).
Because it stands, the one verifiable income coming into ProCap Insurance coverage is new funding.
Utilizing new funding to pay day by day returns would make ProCap Insurance coverage a Ponzi scheme. All MLM Ponzi schemes have a pyramid recruitment element, as cited by Philippine authorities.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve ProCap Insurance coverage of ROI income, ultimately prompting a collapse.
The mathematics behind Ponzi schemes ensures that once they collapse, the vast majority of members lose cash.