Wexcoin has been getting a lot of attention on the web lately. In fact, there are many people out there who are trying to sell this business opportunity and recruit new people. As always, make sure that you get all the details before you decide whether or not to join any business opportunity. So, what exactly is Wexcoin? What kind of products or services do they offer? How does their compensation plan work? What does it take to join the opportunity? Is Wexcoin legit or a scam? Read on to learn more about Wexcoin.
Wexcoin Review – What Exactly Is Wexcoin?
There isn’t any real information on the company’s official website about who owns or runs Wexcoin. Background information is one of the most important things that you should look for in a business opportunity before you decide to join. So, if a company is hiding such important information from the general public, think really hard before you decide to join.
The company’s website domain (wexcoin.com) appears to have been registered on 22nd of January, 2016. Wexco LLC is listed as the owner of this domain. A little more digging reveals that an address located in Delaware, USA is also provided.
However, it looks like the address provided actually belongs to Harvard Business Service. Harvard Business Service is a company that sells incorporation services and is based out of Delaware. This means that it is safe to assume that Wexcoin exists in this area in name only.
What’s more, Alexa rankings show that majority (61%) of the Wexcoin website traffic comes from Vietname, followed by Nigeria (29%). The two official languages on the Wexcoin website are English and Simplified Chinese.
The Product Line
Wexcoin appears to be one of those MLM business opportunities that are trying to make things work without any form of product line. This means that the company doesn’t offer any product for affiliates to market and sell to real customers. Affiliates are only tasked with selling the affiliate membership.
Wexcoin Compensation Plan
Moving on to Wexcoin compensation plan side of things, affiliates are able to make money by first purchasing a membership package and then sponsoring new people into the business.
In general, there are a total of five membership packages to choose from:
Starter package – Goes for $50
Basic package – Goes for $500
Premium package – Goes for $1000
Business package – Goes for $3000
Professional package – Goes for $5000
Direct Recruitment Commissions
The amount of money that you can earn here depends on the type of membership package that your personally recruited affiliates sign up with.
· Sponsoring an affiliate who signs up with a Basic package will earn you a commission of $50
· Sponsoring an affiliate who signs up with a Premium package will earn you a commission of $100
· Sponsoring an affiliate who signs up with a Business package will earn you a commission of $300
· Sponsoring an affiliate who signs up with a Professional package will earn you a commission of $500
Residual Recruitment Commissions
This type of commission is paid out via a binary compensation system. This system places one member at the top of a team, and then it’s split into two sides (right side and left side).
This means that the first level holds only two positions. The second level is created by splitting each of the two positions into another two positions each (four positions). The subsequent levels are generated using the same procedure, provided that each new level holds as twice as many posts as the previous level.
The posts in the binary can be filled through direct or indirect recruitment of new members. Wexcoin affiliate package have different point values.
· Basic package – 500 points
· Premium package – 1,000 points
· Business package – 3,000 points
· Professional package – 5,000 points
At the end of every week, the total amount of points generated from both sides is summed up. In order to qualify for the residual commission, you need at least a total of 600 points on both sides. The commissions are paid out as a percentage of matched point volume on both sides.
· Starter affiliates (capped at $1,000 per week) – Earns a commission of 7% on matched volume
· Basic affiliates (capped at $2,500 per week) – Earns a commission of 7% on matched volume
· Premium affiliates (capped at $5,000 per week) – Earns a commission of 8% on matched volume
· Business affiliates (capped at $10,000 per week) – Earns a commission of 9% on matched volume
· Professional affiliates (capped at $15,000 per week) – Earns a commission of 10% on matched volume
Cost to Join Wexcoin
If Wexcoin sounds like the right business opportunity for you, you will have to purchase one of the packages listed above to join the opportunity.
Starter package – Will cost you $50
Basic package – Will cost you $500
Premium package – Will cost you $1000
Business package – Will cost you $3000
Professional package – Will cost you $5000
Please note that the more expensive package you purchase the more money you will earn.
Is Wexcoin A Scam or Pyramid Scheme?
Like many other business opportunities, there will always be reviews on the web that says Wexcoin is nothing but a complete scam. Sometimes, marketers tend to use this line so that they can offer you something else. So, what is the truth? Is Wexcoin legit or a scam? To be honest, Wexcoin isn’t a complete scam, but there are some few things that you should be aware of if you want to succeed in this opportunity.
Wexcoin claims that they are a crypto currency payment solution, but after doing some little research it is revealed that the Wexcoin is nothing but a Ponzi scheme hybrid. Just like many other Ponzi schemes, you sign up as an affiliate by purchasing one of the five packages, sponsor new people into the business who also purchases one of the packages, and then get paid. So, you just invest your hard earned money in Wexcoin, you don’t know what they will do with your money or whom to blame when things go wrong.
The fact that there isn’t any information about the person that runs or owns this business is enough to make you reconsider your decision. If the business fails to recruit new members for a certain period of time it will fall and it’s only the anonymous people behind the company who will get paid.
I hope you enjoyed my Wexcoin Review post. If you would like to know what company I fully endorse and actually presently endorse myself then read on….
So This Company Is A Dud, Not One Of Your Top Recommendations But What Do You Promote Manny?
So I fully recommend the opportunity that you can access below. I have gone right through the whole system with a fine tooth comb and think it is one of the better opportunities out there which is why I now personally endorse it.
I have been marketing it for just a short while and am already making thousands of dollars using it and I know that this works for absolute newbies as you will see if you click the image below.