Under the microscope today is an education platform that according to their slogan, brings together cryptocurrency experts and all those interested in being part of the crypto community while taking care of the environment and offset their carbon footprint. There is an MLM opportunity attached to the program so that members can make money.
The concept sounds interesting so let’s dive deep without any further delay…
The homepage welcome visitors with various headlines…
- Technology education for tomorrow
- Blockchain technologies and cryptography
- Bringing cryptocurrency to the real world
- Low fees – compared to other payment solutions, WexCoin offers low and attractive transaction fees
- Eco footprint – Wexcoin is purchasing Carbon Offsets and funding projects for environmental sustainability
- Peer to Peer – transaction can take place between two people. Coins can be kept in a desktop wallet on in an online wallet
- Online support – the team is always on hand to help you to take full advantage of the system
WexCoin’s goal is to become the leading, global cryptocurrency education platform for business leaders and key cryptocurrency players who take care of the environment
The video presentation is not revealing much more information. Only that Wexcoin has a vision to become a leader…
Why to choose WexCoin
- Fast transactions
- Secure infrastructure
- Web & Mobile UI
About Page – They say
Wexcoin is an education platform that provides information about the latest technology trends and helps link the cryptocurrency community together, emphasizing carbon offset. The platform has been made by individuals, who are interested in new generation technologies and future finances, to avoid third party intervention and high transaction fees. Our team of professionals and experts have developed a platform that allows users to experience the benefits of cryptocurrencies. Wexcoin users can transfer funds among members as well as buy and sell coins on the exchange. We support the development of best-in-class professional practices in the cryptocurrency economy.
Our main objective is to spread knowledge about cryptocurrency and Blockchain technologies at the same time taking care for environmental sustainability. We bring together the newest technologies and business leaders to shape the future of finance. At every opportunity, we showcase the potential of the cryptocurrency as a new means of changing the way we interact with industries and the society.
- Csaba Karadin – Network director, a recognized leader and Network Marketing professional with 12 years of experience from a range of companies
- Charles Chisnall – acting CEO, after a successful career in retail management Charles has been a network marketing professional for 25 years
- Silva Dolmane – marketing director, has been working in marketing and brand development for almost 10 years
- Engles Martini – project director, has been working on the Wexcoin project from inception and has been instrumental in the development of the WexCafe and WexMall projects. For the last 16 years, he has worked for Honda Motor Europe and Allianz Global Assistance as Business Development Director and Head of Marketing
- Felix Marianovich – business development director, an experienced Network Marketing professional with 13 years of experience with a range of companies
The WexCoin Opportunity
Wexcoin has a simple rewards structure for associates who work to build a sustainable and long term business network. The key components are Direct Sales Commission with a lucrative Binary Commission structure with a Matching Bonus.
There are different package levels. Normal Users of the system have free access to the app and all of the functionalities of the system other than to be able to recruit new users and earn. Starter Associate registration is only $200, this gives you all the tools and benefits of building the business and creating a long term income
5 Income Streams
- Personal sales commissions
- Dual team rewards
- Matching bonus
- Wexcoin staking rewards
- Leadership recognition rewards
70% of the commissions go into your Online Account and 30% will go into the CryptoNitex Exchange Account. They will also ensure that the business remains same over the long term by managing the Income Protection Variables
- Starter, $200
- Basic, $500
- Premium, $1,000
- Business, $3,000
- Professional, $5,000
- Enterprise, $10,000
Personal Sales Commissions
- Refer a starter affiliate, $20, 200 sales points
- Refer a Basic, $50, 500 sales points
- Refer a premium, $100, 1000 sales points
- Refer a business, $300, 3000 sales points
- Refer a professional, $500, 5000 sales points
- Refer an enterprise, $1,000, 10000 sales points
Dual Team Rewards (DTR)
There are two sides of your business, the left and the right side. To start earning Dual Team Rewards, you need to personally refer 400 Sales Points in your Left Leg and 400 Sales Points on your Right Leg. That means at least 4 recruited affiliates who purchase the starter package.
Wexcoin pays up to 11% of the Pay Leg Total Sales Points depending on your position within the business and qualification. You need to have a minimum of 600 Sales Points on the Pay Leg for your Dual Team rewards to be processed. All Sales Points expire after 180 days
- Starter, 8% DTR, maximum DTR $1,000
- Basic, 8% DTR, max $2,500
- Premium, 9% DTR, max $5,000
- Business, 9% DTR, max $10,000
- Professional, 10% DTR, max $15,000
- Enterprise, 11% DTR, max $20,000
Matching Bonus (MB)
- Level 1, 3% MB, Refer 1 Business pack on each Leg
- Level 2, 3% MB, Refer 2 Business packs on each Leg
- Level 3, 2% MB, Refer 3 Business packs on each Leg
- Level 4, 2% MB, Refer 4 Business packs on each Leg
- Level 5, 2% MB, Refer 4 Business packs on each Leg
- Level 6, 3% MB, Refer 5 Business packs on each Leg
- Level 7, 3% MB, Refer 5 Business packs on each Leg
Paid on any Wexcoin that you place in the Staking account. While your coins are not accessible to you but will generate Staking Rewards. Any Staking Rewards generated will be allocated to your coins account. Wexcoin has a unique staking algorithm that not only takes account of traditional coin staking through the Wallet but also uses the performance of the wexcoin payments within business to generate further Staking Rewards for Associates.
No more information is revealed on that matter
Leadership Recognition Bonus (LRB)
- Bronze associate, 30,000 sales points in weak leg, Reward = iWatch, cash back level (CBL) 4
- Silver, 100,000 sales points in weak leg, Reward = iPhone, CBL 4
- Gold, 300,000 sales points in weak leg, Reward = iPad Pro, CBL 6
- Platinum, 1 million sales points in weak leg, Reward = MacBook Air, CBL 8
- Ruby, 3 platinum associates in 3 different legs, Reward = Omega Watch, CBL 10
- Emerald, 3 ruby associates in 3 different legs, Reward = BMW 3-series, CBL 10
- Diamond, 3 emerald associates in 3 different legs, Reward = Tesla X-type, CBL 10
- Wexco LLC, 16192 Coastal Highway, Lewes, Delaware 19958, USA
- Wexsocial LLC, 59a Nushis baghebi street, Tbilisi, Georgia
FAQ – Terms – Important
Not every country is allowed but there is no list of the countries excluded/included
Only bitcoins are accepted
Every associate upon signing up will share their personal data such as, name, mailing & shipping address, tel and fax number, email, credit card or bank account data
Owners – Domain
The whois database uncovers the registration date for the domain wexcoin.com, 22 January 2016. As registrant appears the name of the company Wexco LLC.
Unfortunately, this company probably has nothing to do with cryptocurrency and obviously it is not an education platform as they claim. Where is the technology education for tomorrow?…where are the blockchain technologies and cryptography?…where are the supposedly Carbon Offsets and the funding projects for environmental sustainablity?…where is the information about the latest technology trends?…where is the team of cryptocurrency experts and what exactly is their role in the company?…who are the business leaders that will team up with key cryptocurrency players?…
I wonder how a company that started operations a year earlier has no information on their activities. The WexCoin website only shows the compensation plan.
The catalog can go on forever here…
The only promise kept is that this is a Peer-to-Peer platform for bitcoins. But even in that case you are left in the dark and the packages that are available to purchase act as a gate to enter the compensation plan. You are forced to pay at least $200 for the starter package, having no idea from where in the world that packages will deliver ROIs.
It is an obvious pyramid scheme where affiliates buy packages, and then recruit others who do the same. Nothing but recruitment.
There are no retail products for external customers / non affiliates and this makes WexCoin a Ponzi platform.
There is no other source of income than affiliates investments. You pay and what they do with your money remains a mystery. Clearly, recruited affiliates pay off existing investors, and this illegal form of cash flow will lead to an inevitable collapse once recruitment slows dowm. On top of that the compensation plan commissions are very low at only 10%.
Another mysterious part of the compensation plan is the Staking Rewards.
I do not invest in shady / non transparent companies and in companies without real products. How am I supposed to recruit others?….Into what?…what exactly WexCoin sell?…
That programs work only for the owners who can do whatever they want with your money.
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That’s it, another review has finished, here on Web Market Support. I am waiting for your comments and thoughts. Till next time, your online partner.
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