WexCoin Review – Is This A Good Opportunity Or Big Scam?
In the last few weeks, WexCoin 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 WexCoin in your social media feeds.
The first thing you need to know is that I am NOT an affiliate or distributor for WexCoin.
I wanted to gather all the information about Wexcoin in my WexCoin Review in order for you to make a decision about joining WexCoin.
Is WexCoin 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 WexCoin.
Read on to find out what you need to know.
What The Heck Is WexCoin?
Right off the bat, the WexCoin website doesn’t create for a good first impression at all. There isn’t any available information in regards to who owns the company, who originally created it, where in the world it’s located, etc.
All of this information is extremely relevant for any legit company – MLM or not – so the fact that it isn’t here on the WexCoin website is worrisome to say the least.
The actual domain name for the WexCoin site (www.wexcoin.com) was registered back on January 22nd of 2016, and the owner is listed to be simply “Wexco LLC.” An address is also listed here that’s located in Delaware in the United States, but there’s something peculiar that’s going on with it.
I looked a bit more closely into the address, and it turns out that it belongs to Harvard Business Services. Harvard Business Services is a company that sells incorporation services based in Delaware to companies, suggesting that WexCoin doesn’t physically exist in Delaware and is simply using that address as a namesake and nothing more.
Current Alexa rankings for the WexCoin site indicate that Vietnam is the largest source of traffic as it accounts for 61% of all traffic that the site receives, with Nigeria right behind it at 29%.
On top of this, the official languages that are supported on the WexCoin site include both English and Simplified Chinese (a popular language over in China).
Add all of this together, and you’re dealing with a whole lot of nothing. There’s no indication in regards to who might be behind WexCoin, and it’s possibly location could be Vietnam, Nigeria, and even China.
What Are The WexCoin Products?
Moving right along to the product line, this is another aspect of WexCoin that doesn’t pass with flying colors either.
The WexCoin business model doesn’t include any from of product line at all, meaning that affiliates for the company don’t have any goods or services that they can then market and sell to retail customers that might be interested in buying what they have to offer.
Instead, the only thing that affiliates can try and sell to individuals is the affiliate membership itself.
This is a setup that creates for a situation in which it’s impossible for any retail sales activity to take place, and that’s never something that I like seeing when working on these reviews.
What About The Compensation Plan For WexCoin?
Switching over to the compensation plan that WexCoin is advertising, affiliates must first purchase one of many available packages when they decide they’d like to participate in what WexCoin is offering.
Once this package has been purchased, they are then paid to recruit other individuals to join the company and do the exact same thing.
There are five plans that affiliates can choose to invest in, and they are –
- Starter package – $50
- Basic package – $500
- Premium package – $1000
- Business package – $3000
- Professional package – $5000
Direct Recruitment Commissions
When it comes to direct recruitment commissions, the amount of money that’s earned from these is dependent on which package the affiliate you’re recruiting decides to invest in and purchase.
Getting your recruit to purchase a more expensive package will allow you to earn a greater commission, and the payout rates is as follows –
- Recruiting a Basic affiliate pays $50
- Recruiting a Premium affilate pays $100
- Recruiting a Business affiliate pays $300
- Recruiting a Professional affiliate pays $500
Residual Recruitment Commissions
Residual recruitment commissions also exist within the WexCoin compensation plan, and these are paid out through the use of a binary setup. Positions in the binary system are filled through both direct and indirect affiliate recruitment, and a certain amount of points is also generated whenever a new member joins the company.
The amount of points that are generated depends on the package that they choose to invest in, so this is another area in which affiliates are incentivizes for purchasing a more expensive package as opposed to a cheaper one.
What’s The Cost Of Joining WexCoin?
When it comes to joining WexCoin as an affiliate, you’ll need to purchase one of the five packages that I’ve already talked about.
Because of this, you’re starting cost to join will range from as little as $50, or as large as $5000 if you decide you’d like to dump a lot of money into the company.
So, Is There A WexCoin Scam Going On?
Have you been hearing rumours that Wexcoin 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 Wexcoin scam going on?
If I am being perfectly honest, Wexcoin isn’t entirely a scam.
However, there are some things you need to watch out for.
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Finally, My WexCoin Review And Conclusion!
Overall, the final word with WexCoin isn’t all that surprising. The company is trying to advertise itself as a “cryptocurrency payment solution”, but after taking a look through everything that WexCoin has to offer, it’s quite clear that there isn’t any sort of legitimate activity taking place on this level.
At the end of the day, WexCoin is having affiliates join the company by investing money into packages and then recruiting other people to do the same thing.
The only identifiable source of income is whatever affiliates invest by purchasing the company’s packages, and since newly invested funds are clearly being used to pay off existing affiliates, WexCoin operates as nothing more than a Ponzi scheme.
As all other Ponzi schemes go, the company will die down once recruitment levels die down. This will result in most everyone else losing out in the long run, with only the anonymous admin(s) earning anything of real value.
I really hope you have gained value from my Wexcoin Review.
I wanted to make sure you had all the information you needed, because most other Wexcoin reviews are just trying to sell you something.
If you really do decide to join Wexcoin, I want you to succeed with your business. Learn how to market yourself properly!
My training can help you make money online!