Hi, welcome to My Crypto Consult Review!
This company has been getting a lot of attention all over everywhere online, including on social media. I decided to take a look at it myself and see what it’s offering.
Therefore, if someone introduced you to this investment opportunity and you want to make sure it’s legit before joining it, I assure you that you’ve just landed at the perfect place.
Allow me first to congratulate you on doing your research about the genuineness of any program before joining it. It’s essential since it keeps you safe from the numerous scammers online, and helps you to discover the legitimate way to earn real cash online.
My Crypto Consult Review Summary
Product Name: My Crypto Consult
Price: : Free to join but requires an investment of $120 – $1,200,000
My Crypto Consult is a network marketing company that’s very new in the industry. It allows people to join and invest cryptocurrencies to earn promised returns. Moreover, its affiliates can earn commissions by recruiting new affiliates. The company, however, doesn’t provide any information regarding its owner(s), or even to prove the claims about how they generate revenue. Given that it lacks retail products for sale, it seems like it uses new investment funds to pay commissions. This makes it resemble a pyramid scheme because also, the only way to make good money with it is by recruiting more people. As with all other MLM Ponzi schemes, the company may collapse in the future, and I don’t recommend anyone to join it. Read this full My Crypto Consult review to the end to understand everything clearly!
I’d also like you to know that I’m not affiliated with this program in any way. Therefore, you can expect to read an in-depth and unbiased third party.
My Crypto Consult Review here. I’ going to reveal the company, its products, compensation plan, ugly truths, and more before I give you my final verdict about it.
So, is My Crypto Consult a scam or a legit company? Can it help you make a good income online?
Let’s dive into this review to find out!
What Is My Crypto Consult
My Crypto Consult is a Multi-Level Marketing Company that was recently established within the cryptocurrency niche. It runs cryptocurrency trading on GlamJet, which is supposedly the next generation all-in-one platform and app.
Moreover, the company claims to be the largest cryptonized luxury ecosystem in the world.
However, My Crypto Consult’s website doesn’t provide any background information, and therefore, there’s no way to tell who owns or runs the company. According to WHOIS.com , the domain – mycryptoconsult.io – was registered on 29th June 2018, and the last update was on 6th June 2019.
Most likely, this is the time when the current owner came into charge of the domain. However, the registration was done privately, making it impossible to know who the domain’s owner is or where he/she is based in.
The company seems to be somewhat connected with FutureNet. This is because earlier this year, FutureNet was promoting that My Crypto Consult was to add the FYO currency of FutureNet as a payment method.
This clearly shows that the two companies probably have some kind of relationship behind the scenes.
Anyway, My Crypto Consult seems to be doing some exceptional and interesting business that’s growing hastily in the market. You can store your cryptocurrency and recruit new members for commissions. They claim to help you start earning a passive income online, but is this really going to be possible?
Continue reading My Crypto Consult review to understand the opportunity better.
How My Crypto Consult Works
My Crypto Consult works by allowing people to join and invest in cryptocurrencies as well as recruit others to make money. On the product line, the company doesn’t offer anything tangible.
It has no products/services that its affiliates can buy or sell, meaning that the only thing to promote here is the affiliate membership. I have seen this with many MLM companies as I review them, and here are some examples:
Therefore, seeing it with My Crypto Consult isn’t surprising or alarming in the slightest.
Next, I’m going to expound the company’s compensation plan to show you how rewards are earned at My Crypto Consult.
My Crypto Consult’s Compensation Plan
My Crypto Consult Company doesn’t offer any real products, and therefore, its compensation plan is primarily based on sales of the affiliate membership. So, how can you make money with My Crypto Consult’s business?
When you become an affiliate, you’re allowed to earn a token bonus if you invest in GLAM tokens as follows:
Quick Starter affiliates receive 300% token bonus
Leverage Pack affiliates receive 300% token bonus
7PayMaxx All-In-One affiliates receive 325% token bonus
You earn higher amounts of token bonuses if you invest more in the GLAM tokens. Then, you can also make money through several other ways if you join My Crypto Consult, including the following.
Direct Recruitment Commission
You earn a 10% Direct Recruitment Commission for every affiliate you personally recruit, who subscribes to one of the token packages provided.
Binary Residual Commission
My Crypto Consult uses a binary structure to pay the residual commissions to its affiliates. This structure works by distributing the recruited affiliates on two sides of the binary team (right and left).
The binary team can be filled through both direct and indirect affiliate recruitment. My Crypto Consult tallies up the new investment volume on both sides of the binary team, but it’s not clear whether this is done daily or weekly.
The company pays its affiliates either a 5% or a 10% commission on the weaker binary team’s side, depending on affiliates’ investment funds.
My Crypto Consult pays its sponsoring affiliates a Matching Bonus depending on the earnings of their downlines. This bonus’ tracking and payments are done via a uni-level compensation structure.
For example, you’ll be placed at the top of the uni-level team, and your personally-recruited affiliates will be placed at Level 1 of your team (right below you).
Then, the affiliates recruited by your level 1 downlines will be placed at Level 2 of your unilevel team. This will continue up to the time your uni-level team reaches Level 10.
Depending on the number of affiliates you’ve sponsored, you can earn the matching bonus as follows:
Get a 5% matching bonus on Levels 1 and 2 if you sponsor 2 affiliates
Get a 5% matching bonus on Levels 1 to 3 if you sponsor 3 affiliates
Get a 5% matching bonus on Levels 1 to 4 if you sponsor 4 affiliates
Get a 5% matching bonus on Levels 1 to 5 if you sponsor 5 affiliates
Get a 5% matching bonus on Levels 1 to 6 if you sponsor 6 affiliates
Get a 5% matching bonus on Levels 1 to 7 if you sponsor 7 affiliates
Get a 5% matching bonus on Levels 1 to 8 if you sponsor 8 affiliates
Get a 5% matching bonus on Levels 1 to 9 if you sponsor 9 affiliates
Get a 5% matching bonus on Levels 1 to 10 if you sponsor 10 affiliates
Holiday and Car Bonus
My Crypto Consult allows you to earn the Holiday and Car bonuses that connect with its exclusive partner, which is called Holiday Coin Club.
Regardless of the compensation plan, affiliates have a maximum amount of GLAM tokens that they can earn, which depends on the investment packages that they’re subscribed to:
Quick Starter affiliates’ maximum is 44,000 GLAM tokens and commission is capped at $2,000
Leverage Pack affiliates’ maximum is 6,500,000 GLAM tokens
7PayMaxx All-In-One affiliates’ maximum is 22,000,000 GLAM tokens
VIP and Elite affiliates’ maximum is 7,500,000,000 GLAM tokens
That’s all about the compensation plan for this company. Now, you may be wondering; how much does it cost to join this opportunity?
Well, I’ve revealed this in the next section of My Crypto Consult review, so keep reading to find out!
My Crypto Consult Pricing
It’s simple to join My Crypto Consult by clicking on the “Join Now” button on their official website.
However, you’re required to have a referral link for you to begin with the registration process. As per the website, one GLAM token equals $0.12. You need to access their token packages in order to invest funds and receive the expected returns.
The tokens are as follows:
Quick Starter requires 1,000 GLAM tokens
Leverage Pack requires 9,950 GLAM tokens
7PayMaxx All-In-One requires 29,500 GLAM tokens
VIP and Elite requires a maximum of 10,000,000 GLAM tokens
This means that you’ll need to invest about $120 – $1,200,000 (if you multiply the tokens by the claimed value – $0.12). Furthermore, you need to reinvest after every 6 or 12 months to remain an active affiliate.
It’s good to note that you can only join the VIP and Elite packages if My Crypto Consult’s member invites you. Once you buy these membership packages, you’ll be eligible to enjoy the full My Crypto Consult’s compensation plan.
GOOD VS BAD
- Its dashboard is mobile-friendly.
- No information about the owners.
- No retail products to buy/sell.
- Unclear investment information.
- Limited exchange platform.
- Most people are likely to fail.
- It’s not listed or accredited by the BBB .
It’s essential to know the person(s) behind any business opportunity before you decide to join it. This helps you to have confidence that your investments are in good hands. For the case of My Crypto Consult, its official website doesn’t provide any background information. This means that you can’t know who owns or runs this business.
Despite that, I found a piece of background information that indicated a guy with the name Will Morant, who acknowledges himself as “Project Development” of the company. According to his Facebook page, Morant claims to have started his involvement with My Crypto Consult near the end of 2018. Before this, he was engaged with other companies such as FGXpress and Holiday Coin.
In my opinion, Will Morant is not the owner of this company because if he really was, it should be clearly visible on the website. When a company is not honest about who owns or runs it, it becomes hard to trust it, and this is a red flag!
Or would you comfortably join such a company? Read on to see if this opportunity is meant for you.
Who Is My Crypto Consult Meant For (And Not For)
My Crypto Consult is allegedly intended for people interested in cryptocurrency investments as well as its MLM business.
The best way to make money here seems to be recruitment, which makes the company look like a Ponzi scheme. The company doesn’t offer any retail products. Therefore, it doesn’t suit you if you were looking to buy its products or make money by selling them.
Furthermore, if you aren’t a fan of recruiting or don’t know how to do it, this opportunity may not be right for you. This is because there’s so much reliance on recruitment, and that’s the only way to make colossal income fast.
My Crypto Consult seems to be a shady MLM company that doesn’t reveal who owns it. Before you make your final decision about it, you may want to hear some ugly truths about this company that I’ll expose in a moment.
Ugly Truths Revealed
1. Ambiguous Investment Information!
My Crypto Consult doesn’t disclose how it manages the investors’ funds. No verified and real traders have backed it up.
It only depends on the GlamJet platform. The company doesn’t even provide info about who’s operating the business.
Furthermore, GlamJet claims to generate revenue through trading and financing, escrow, smart contracts, face-to-face exchange, and e-commerce.
However, it fails to prove that it’s participating in any of these activities.
2. No Income Disclosure Statement!
The company fails to provide an income disclosure statement or testimonials. This means that no evidence online to prove that anyone has really made money with My Crypto Consult.
Although there’s no income disclosure statement, I’m very skeptical that anyone has ever made any real money here.
Rather, I feel it’s just like other MLM’s in which the majority of participants fail! I’ll expound this in detail shortly, so keep reading!
3. Regulated Exchange Platform!
At this time of writing, the company offers a limited platform for its affiliates to buy or sell GLAM tokens.
As I did my research, I found out that these GLAM tokens are not available for trade on any known exchanges. No online shops or platforms are accepting these tokens as a payment method.
This means that the GLAM tokens are only valuable at My Crypto Consult and nowhere else outside their platform.
4. Most People Are Likely To Fail!
As aforementioned, My Crypto Consult seems to be just like other MLM’s that have very low success rates. There are no real products for affiliates to promote, and this makes every member shift to recruitment to make money.
When the members make most of their money through recruitment, it makes the company look like a pyramid/Ponzi scheme. The only verifiable way that My Crypto Consult is generating revenue is through new investments, which comes from the newly-recruited affiliates.
This means that the company uses these funds to pay commissions to its members.
For MLM Ponzi schemes, new investments die down as soon as recruitment dies down, prompting a collapse. The math behind Ponzi’s is that most of their participants lose their money after the company collapses.
Even if you’re lucky to make any money, it’ll be very little, considering that most MLM’s lead over 95% of their members to fail. Only less than 5% manage to make something significant.
I’ve seen this similar case while reviewing other programs such as:
Now, tell me, are you willing to join a company that has a very low success potential and a high probability of collapsing soon in the future?
Are You Tired Of Scams?
My Crypto Consult Review Final Verdict: Is It A Scam?
After reading my full review of this program, you may still be wondering; is My Crypto Consult a scam or a legitimate company? Well, we need to look at the facts!
First, the company’s official website lacks information regarding who owns or runs it. Although I got some info on one guy claiming to be their executive, there’s no way to prove he really is.
There’s no income disclosure statement or testimonials, so you can’t tell if anyone has ever made real cash with this company. Furthermore, GLAM tokens are useless and worthless outside the company. I hope you get it; it’s like you’re investing in the air!
For MLM’s to offer any returns legally, they need to be registered or authorized by the relevant authorities in the countries they are operating in, such as the SEC.
In contrast, My Crypto Consult is not registered with any authority in any country worldwide. The company caps its income in USD, although it doesn’t seem to be targeting the US residents. This becomes interesting!
Additionally, they don’t provide any proof that they are getting their revenues from trading, e-commerce, and other claimed activities, which means they use the newly-invested money to pay the commissions.
This makes the company resemble a pyramid or Ponzi scheme and makes it likely to collapse as soon as new recruitment dies since this will mean no new revenue to pay the affiliates’ commissions. Overall, this is bad business, and personally I can recommend it to join it as you’re likely to lose money rather than getting more.
I honestly hope that you’ve found My Crypto Consult review helpful, and now you’re able to make a well-informed decision about it.
If you were seriously looking for genuine ways to earn money online, read the last section of my review below to see how I do it.
How I Make Income Online
Online moneymaking opportunities that use the MLM business model are very risky, as you have seen with My Crypto Consult.
Fortunately, you can follow the best systematic training offered at Wealthy Affiliate, which is very easy for anyone to understand, as well as use the best tools to create your own successful digital business finally.
Many others and I have done it already, and we’re reaping the fruits of our work. Personally, I’ve managed to make a 4-digit monthly income through the help of this platform. Indeed, this training platform has over 1.9 million active members, who are very helpful in case you have any questions.
I can help you personally and even coach you (if you like) to achieve your desired income online. It’s completely free to get started, so if you are ready to work for your success, you just need to join this platform and start working.
Anyway, I hope you’ve enjoyed reading My Crypto Consult review.
If you have any questions or thoughts whether is about my – My Crypto Consult review or anything else, then please leave them in the comment section.
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