IX Wallet operates in the cryptocurrency MLM niche.
The company claims its “team” works from the US, China and Israel.
Heading up IX Wallet is Yang Li, Sergey Storojuk and William Clark.
Yang Li’s and William Clark’s names are too generic to research and verify an MLM history.
Sergey Storojuk doesn’t appear to exist outside of IX Wallet marketing, which I’m flagging as highly suspicious.
Take the provided IX Wallet corporate bios above with a grain of salt.
Read on for a full review of IX Wallet’s MLM opportunity.
IX Wallet’s Products
IX Wallet has no retailable products or services, with affiliates only able to market IX Wallet affiliate membership itself.
IX Wallet’s Compensation Plan
IX Wallet affiliates invest bitcoin, bitcoin cash and/or ethereum on the promise of advertised returns.
- Cat 1 – invest 0.15 to 0.1 BTC, 0.25 to 1.75 BCH or 0.5 to 3 ETH and receive a 9% monthly ROI
- Cat 2 – invest 0.1 to 0.5 BTC, 1.75 to 8.5 BCH or 3 to 15 ETH and receive a 12% monthly ROI
- Cat 3 – invest 0.5 to 1.85 BTC, 8.5 to 33.5 BCH or 15 to 60 ETH and receive a 15% monthly ROI
- Cat 4 – invest at least 1.85 BTC, 33.5 BCH or 60 ETH and receive an 18% monthly ROI
IX Wallet investment is converted into IX tokens, which the company sells to affiliates at an arbitrary internal value.
Monthly returns are based on and also paid in IX tokens.
IX Wallet pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Referral commissions are paid on funds invested across the unilevel team as follows:
- Rank I – maintain a minimum 0.03 BTC, 0.5 BCH or 1 ETH investment amount and earn 100% on level 1 and 10% on levels 2 to 10
- Rank II – generate $125,000 in total unilevel team investment volume and earn 100% on level 1, 10% on levels 2 to 10 and 6% from level 11
- Rank III – generate $250,000 in total unilevel team investment volume and earn 100% on level 1, 10% on levels 2 to 10 and 10% from level 11
- Rank IV – have at least two Rank III affiliates in levels 1 and/or 2 of your unilevel team and earn 100% on level 1, 10% on levels 2 to 10 and 14% from level 11
- Rank V – have at least two Rank IV affiliates in levels 1 and/or 2 of your unilevel team and earn 100% on level 1, 10% on levels 2 to 10 and 18% from level 11
Joining IX Wallet
IX Wallet affiliate membership is free.
Full participation in the attached MLM opportunity however requires a minimum 0.15 BTC, 0.25 BCH or 0.5 ETH investment.
IX Wallet is yet another entry into the mobile app wallet MLM niche.
The MLM app model is simple enough:
- create a worthless token (typically ERC-20)
- attach it to an investment opportunity
- sell tokens you generate on demand for fiat/cryptocurrency
- pay returns in tokens
- make up the price of the token as you go along
- honor withdrawal requests until it’s time to exit-scam (withdrawals exceed new investment)
IX Wallet represents it generates external revenue via an arbitrage bot.
Whether the bot does or doesn’t exist is irrelevant, given IX Wallet provide no evidence of external revenue of any kind being actually used to fund affiliate withdrawals.
Furthermore IX Wallet has failed to register its passive investment opportunity with financial regulators.
This means that at a minimum IX Wallet, it’s management and affiliates are committing securities fraud in any country its promoted in.
Registering with financial regulators, as is legally required, would require IX Wallet to disclose external revenue sources with documentation.
In the absence of this, the only verifiable source of revenue entering IX Wallet is new investment.
Once affiliate recruitment runs dry, so too will new investment.
This will starve IX Wallet of new investment, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.
One last thing I want to touch on; IX Wallet’s website domain was registered in May 2019.
Presumably the actual website went live shortly sometime thereafter.
As I write this IX Wallet are using BitConnect’s BCC ticker symbol for Bitcoin Cash (BCH) – both on their website and in their marketing material.
But uh yeah, IX Wallet’s management are total geniuses able to sustain 10% monthly returns via cryptocurrency arbitrage.
IX WALLET is brought to you by the Management and Development Team behind such projects as Stratis ICO, Binance and BNCEX, a team of individuals well experienced to create a real secure Decentralized Bank.