eDigital Wealth Review – Is This A Good Opportunity Or Big Scam?
In the last few weeks, eDigital Wealth has been getting a lot of attention in the network marketing circles.
With all this hype, I am sure you have seen some of your friends trying to sell eDigital Wealth in your social media feeds.
The first thing you need to know is that I am NOT an affiliate or distributor for eDigital Wealth.
I wanted to gather all the information about eDigital Wealth in my eDigital Wealth Review in order for you to make a decision about joining eDigital Wealth.
Is eDigital Wealth legit or a scam?
Will it be able to deliver on it’s promises to you?
Let me show you in my unbiased review of eDigital Wealth.
Read on to find out what you need to know.
What The Heck Is eDigital Wealth?
The eDigital Wealth website (edigitalwealth.co) was registered earlier this year on the 14th March 2016 and has all of the domain registration details set to private. The site doesn’t provide any information about the company structure (or who is running things) either, so this company requires a fair bit of research to find answers to these questions.
It turns out that eDigital Wealth is being run by Steven Seppinni, a serial MLM company founder who has a track record of underperforming propositions, including ‘Malibu Mastermind’ and ‘Prosper Everyday’. Both of these were based around the same principles and seem to have faltered early on in their existence. It is, therefore, not wildly encouraging to hear that eDigital Wealth has been set up with a similar basis to those two companies, which raises questions of its viability as an earning opportunity.
What Are The eDigital Wealth Products?
eDigital Wealth offer two products, one priced at $100 and the other priced at $500. There aren’t actually any further details on these products available from the company.
What About The Compensation Plan For eDigital Wealth?
Affiliates earnings are all based upon the sale of the two products that eDigital Wealth offer. As an affiliate, you must qualify to receive commissions generated by each product separately, and this can be done by either purchasing the product yourself or by selling one to a retail customer.
Once qualified to receive commissions, there are two ways through which payments are calculated.
Retail and Recruitment Commissions
The main routes of earning commissions through the sale of eDigital Wealth’s products are retail and recruitment commissions. The sale of the $100 product will earn $50, and the sale of the $500 product will earn $150 commission. eDigital Wealth uses a ‘unilevel’ model to determine who gets the commission generated for each sale. It works in the following way:
- The original affiliate is placed in a position at the top of the unilevel structure
- Each affiliate that is directly recruited to the scheme by this affiliate is placed in a position beneath them. This forms level 1.
- Each affiliate that is recruited to the scheme by affiliates on level 1 will be placed in a position directly beneath them. This forms level 2
- Each affiliate that is recruited to the scheme by affiliates on level 2 will be placed in a position directly beneath them, and this forms level 3
- This process continues for as long as new affiliates are recruited into the scheme. In theory this can continue to an infinite number of levels, but in practice it is limited by the potential number of affiliates that could be brought into the company
The commission is paid out as follows:
- The first sale of a product made by an affiliate will generate commission that is paid directly to that affiliate
- The commission generated from the second sale by an affiliate is passed up the unilevel model to the first eligible person to receive that commission
- The third, fifth, and most sales from the seventh sale onwards that are made by an affiliate will generate commission that is paid directly to that affiliate
- The fourth, sixth, and every fifth sale beyond will generate commission that is passed up the unilevel model to the first eligible person to receive that commission
The Check Match Bonus
eDigital Wealth affiliates are also able to earn a check match bonus. This pays affiliates a 100% match on commissions that have been earned by affiliates that they have personally recruited to the scheme (the level 1 affiliates). Affiliates must qualify to receive the check match bonus, and to do this they are required to recruit at least two new affiliates and make at least one retail sale every 30 days.
What’s The Cost Of Joining eDigital Wealth?
Affiliate membership to eDigital Wealth is available for a one off payment of $45 as well as a $14.95 monthly fee. As previously stated, an affiliate needs to qualify to receive commission from each product through a sale or purchase.
So, Is There A eDigital Wealth Scam Going On?
Have you been hearing rumours that eDigital Wealth is a scam?
After reading this review, you might still be asking yourself if it is really legit.
So – what is the truth? Is there really a eDigital Wealth scam going on?
If I am being perfectly honest, eDigital Wealth isn’t entirely a scam.
However, there are some things you need to watch out for.
This is how you will be successful in online marketing. See the image below for details.
Finally, My eDigital Wealth Review And Conclusion!
eDigital Wealth is, in effect, the third iteration of Steven Seppinni’s first company, Malibu Mastermind but builds upon the changes he made with his second attempt, ‘Prosper Everyday’. The severe lack of information on the website about the products being sold suggests that these are simply a method for earning through the compensation plan. This is an assertion backed up by the information that is actually present on their website- lots of encouraging text about earning lots of money.
The potential problems with multi level marketing companies come from the avenues through which funds enter the company to be paid out to affiliates. There needs to be a healthy balance of sales to retail customers alongside sales to other affiliates to ensure that the company is sustainable. The reason for this is that if there are low sales to retail sales customers, the commissions being earned by affiliates are simply coming from purchases made by other affiliates. This is a problem because the system would then require a constant flow of new members joining to sustain a decent income to the existing members.
Unfortunately the products being offered by eDigital Wealth hardly seem worth the money they are being sold for, to the point where the website doesn’t even bother to advertise the benefits of the products. They more likely function as a ‘pay to play’ element to the scheme, which encourages affiliates to make regular purchases to remain eligible to earn commissions and bonuses.
If the majority of purchases truly are being made by affiliates themselves, then this company is firmly within the category of being a pyramid scheme. It relies on a constant influx of new members to be paying fees into the system which in turn funds the payments made to existing affiliates. This can work out well for the initial few members to the scheme (particularly Steven Seppinni if enough people ultimately join up) but the affiliates lower down in the pecking order will struggle to make their money back, let alone be able to earn the figures they are being led to believe. This is because there will be an inevitable slowdown in the recruitment of new members, and when this happens there will also be a slowdown of commission payments. Affiliates will then earn far less, stop buying the products or paying their membership fees, and reduce the pool of income even further. The company will eventually collapse and leave everyone (who hasn’t already earned their money back) out of pocket.
The fact that eDigital Wealth is based upon two previously failed companies should raise warning flags from the start. Many MLM companies have a great setup and products available that keep a healthy balance between retail and affiliate sales. eDigital Wealth, however, doesn’t seem to have the ingredients to achieve this, so must be taken with a great deal of caution. It is likely a great opportunity for the people that run the company and joined early on, but most people are destined to lose money through this plan, so it would be worth looking elsewhere.
I really hope you have gained value from my eDigital Wealth Review.
I wanted to make sure you had all the information you needed, because most other eDigital Wealth reviews are just trying to sell you something.
If you really do decide to join eDigital Wealth, I want you to succeed with your business. Learn how to market yourself properly!
My training can help you make money online!