Crypto Recommendation gives no data on its web site about who owns or runs the enterprise.
Crypto Recommendation’s web site area (“cryptoadvice.com”) was first registered in 2016. The area registration was final up to date in February 2018.
Mark Andrews is listed because the proprietor, by an incomplete tackle in California.
Given the generic identify, lack of expertise on Andrews in relation to Crypto Recommendation and incomplete tackle, there’s a excessive likelihood Mark Andrews doesn’t exist.
Supporting it is a UK incorporation certificates for Mended Minds LTD on Crypto Recommendation’s web site.
UK incorporation is grime low cost and for essentially the most half unregulated. It’s a favored jurisdiction for scammers trying to incorporate dodgy firms.
As for Mended Minds, it seems to be a shell firm that doesn’t exist exterior of its UK incorporation.
Supposedly the CEO of Mended Minds and Crypto Recommendation is Jordan Lucas (one other suspiciously generic identify).
Analysis into Mended Minds and Lucas lead me to QuickX who, on their very own web site state Crypto Recommendation is
creating and selling the market and group for QuickX Protocol.
CryptoAdvice bought token in bulk from QuickX and after that it’s promoting to the small and massive buyers with a minimal lock-in interval of 1 yr, this lock-in interval would forestall the dumping of token.
QuickX is supposedly a Maltese shell firm.
QuickX are behind the QCX token, which is primarily promoted by Crypto Recommendation’s MLM alternative.
Regardless of the Maltese shell incorporation, QuickX seems to be run by Indians, as evidenced by its default Indian rupee QCX worth chart:
On the company aspect of issues Secugenius Pvt. Ltd. is cited as the corporate behind QuickX.
Secugenius is an Indian firm that claims to be an “IT Threat Evaluation and Digital Safety Providers supplier”.
A weblog put up on QuickX’s web site caught my eye, pertaining to a “head-office opening in Malaysia”:
We’re additionally happy to tell you that firm has opened this workplace with collaboration of two of its accomplice in QuickX , Mr. Marcus Dato and Mr. Najib Razak.
The Founder CEO and COO of QuickX Protocol Mr. Kshitij Adhlakha & Mr. Vaibhav Adhlakha and the CEO of *CryptoAdvice* Mr. Jordan Lucas have been additionally current there together with all of the achievers of the current Malaysia tour.
It seems that Jordan is a token white man, however in any other case QuickX and Crypto Recommendation are run by a bunch of Indians, Indians dwelling in Malaysia and Malaysians.
Oh and if it’s not apparent by now, Crypto Recommendation, Mended Minds, QuickX and Secugenius are all the identical firm.
Any phantasm of separation by shell firms is smoke and mirrors.
As at all times, if an MLM firm isn’t brazenly upfront about who’s working or owns it, suppose lengthy and arduous about becoming a member of and/or handing over any cash.
Crypto Recommendation’s Merchandise
Crypto Recommendation has no retailable services or products, with associates solely capable of market Crypto Recommendation affiliate membership itself.
Crypto Recommendation’s Compensation Plan
Crypto Recommendation affiliate make investments funds in QCX tokens on the promise of marketed returns.
- Normal – 100 QCX
- Particular – 200 QCX
- Bronze – 500 QCX
- Silver – 1000 QCX
- Gold – 2500 QCX
- Platinum – 5000 QCX
- Ruby – 10,000 QCX
- Titanium – 25,000 QCX
Be aware that Crypto Recommendation don’t disclose the interior QCX worth.
As soon as obtained, QCX tokens may be lent again to Crypto Recommendation in trade for a month-to-month return.
- lend again 100 to 999 QCX and obtain 4% a month
- lend again 1000 to 2499 QCX and obtain 5% a month
- lend again 2500 to 4999 QCX and obtain 6% a month
- lend again 5000 to 9999 QCX and obtain 7% a month
- lend again 10,000 to 24,999 QCX and obtain 8% a month
- lend again 25,000 or extra QCX and obtain 10% a month
As soon as lent, QCX tokens are locked up for a yr.
Be aware that returns and commissions detailed beneath are all paid in QCX.
Referral Commissions
Crypto Recommendation pays a 5% referral fee on funds invested in QCX.
Residual Commissions
Crypto Recommendation pays residual commissions through a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary crew, break up into two sides (left and proper):
The primary degree of the binary crew homes two positions. The second degree of the binary crew is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary crew are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary crew are stuffed through direct and oblique recruitment of associates. Be aware there is no such thing as a restrict to how deep a binary crew can develop.
On the finish of every day Crypto Recommendation tallies up new funding quantity on either side of the binary crew.
Associates are paid a ten% residual fee on funds generated on their weaker binary crew aspect.
Crypto Recommendation caps day by day residual fee payouts based mostly on how a lot an affiliate has invested:
- Normal tier associates can earn as much as 20 QCX a day
- Particular tier associates can earn as much as 50 QCX a day
- Bronze tier associates can earn as much as 200 QCX a day
- Silver tier associates can earn as much as 300 QCX a day
- Gold tier associates can earn as much as 1000 QCX a day
- Platinum tier associates can earn as much as 1800 QCX a day
- Ruby tier associates can earn as much as 2500 QCX a day
- Titanium tier associates can earn as much as 4000 QCX a day
As soon as paid out on, quantity is matched on the stronger binary crew aspect and flushed.
Matching Bonus
Crypto Recommendation pays a Matching Bonus 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.
The Matching Bonus is paid as a share of residual commissions earned by unilevel crew associates, capped down 5 ranges of recruitment:
- degree 1 (personally recruited associates) – 10% match
- degree 2 – 8% match
- degree 3 – 4% match
- degree 4 – 2% match
- degree 5 – 1% match
Becoming a member of Crypto Recommendation
Crypto Recommendation affiliate membership is free.
Participation within the connected earnings alternative nonetheless requires funding in QCX tokens, plus fee of an “activation charge”.
Neither QCX funding prices or activation charge quantities are disclosed.
Conclusion
Crypto Recommendation is the tip results of Indians eager to run a cryptocurrency rip-off, in a rustic through which the usage of common cryptocurrency is seemingly up for debate.
Therefore the shell incorporations within the UK, Malaysia and Malta.
No matter who runs Crypto Recommendation although and from the place, at its coronary heart its nothing greater than a BitConnect Ponzi clone.
As an alternative of BCC Crypto Recommendation associates are investing in QCX. As an alternative of “lending” for a return they’re “staking”.
Materially there’s no distinction between the 2 fashions.
Crypto Recommendation associates spend money on QCX tokens, dump them with the corporate as soon as acquired and obtain extra QCX tokens for doing so.
Extra QCX tokens are tied to recruitment of recent buyers, that are wanted to fund ultimately withdrawals.
Withdrawals are realized when early Crypto Recommendation associates money out, and paid out of subsequently invested funds.
As with BitConnect, the circulate of cash from new buyers to present buyers makes Crypto Recommendation a Ponzi scheme.
Somewhat than simply admit that although, Crpyto Recommendation throws up the standard MLM crypto Ponzi exterior income cliches:
Naturally no proof of any of those actions is offered. Neither is Crypto Recommendation and its related shell firms registered to supply securities within the UK, India, Malta, Malaysia, or any of the opposite international locations it solicits funding in.
Underneath the lending Ponzi mannequin, when withdrawals exceed new funding, the homeowners do a runner.
Owing to lent QCX being locked for a yr, the corporate all however ensures those that get in early with withdraw the vast majority of invested funds.
This leaves the remainder of Crypto Recommendation’s affiliate buyers bagholding a nugatory token. Cue the determined dump dump (zero curiosity exterior of the scheme), which inevitably sees the propped up public QCX worth plummet.
That is precisely what occurred when BitConnect collapsed, wiping $2.4 billion in BCC’s public worth in simply ten days amid widespread losses.
Crypto Recommendation, QuickX and their “QCX Protocol” received’t play out any completely different.
Replace eighth February 2021 – As suspected, “Jordan Lucas” was a Boris CEO.
Crypto Recommendation was run by QuickX’s founders, Vaibhav and Kshitij Adhlakha.
Following Crypto Recommendation’s collapse final yr, the Adhlakha brothers went on to launch Riseoo.