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My Cash Pool Review: Should You Invest In My Cash Pool Gifting Company?

My Cash Pool Review: Should You Invest In My Cash Pool Gifting Company?

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My Cash Pool is a Bitcoin gifting company. Its domain (MyCashPool.Wordpress.com) claims to be the world’s fastest-growing crypto gifting company. It has been operating for three years now. There are numerous suspicious aspects of this company, so it is important to review it in detail to determine the authenticity of its claims.

What is My Cash Pool?

As its name suggests, My Cash Pool is a gifting company that claims to be the leading gifting scheme in the crypto industry. According to MyCashPool.WordPress.com, the owner of the company is Ashish Raja. Raja is running the company from India.

The website has also provided several testimonials to seem like a genuine platform. However, it is important to note that they seem to be completely fabricated. In fact, the entire website of the company is poorly designed and give very limited information about the mission and vision of the platform.

Owner of My Cash Pool

Ashish Raja is running My Cash Pool from India. Raja has been involved with multiple MLM companies and gifting schemes in the crypto industry. In 2016, he was heavily marketing the Fort Ad Pays and Triple Threat Marketing. Moreover, he was also the affiliate of Ultimate Revshare. By 2018, all of these companies had completely collapsed due to a lack of recruitment and illegal nature.

It is evident that these companies were Ponzi schemes and did not provide any considerable profits to the consumers. Instead, they had to suffer massive financial losses after investing in these companies. Therefore, past ventures of Ashish Raja show that you should not fully trust My Cash Pool as it can turn out to be a scam company as well.

My Cash Pool

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Compensation Plan

Since there are no retail products or services offered by My Cash Pool, the only way to earn any kind of profits is through gifting bitcoins. To become a part of the income structure, the members must gift at least 0.02 BTC to the member who hires you.

MyCashPool.WordPress.com states that the company has a 2×10 compensation matrix to distribute the profits. An affiliate is at the top of the matrix, while two positions are located under the affiliate. Every level from one to ten consists of twice as many positions as the former level.

Since every recruit has to gift 0.02 BTC to the member who recruits them, it means that an affiliate on the first level can receive 0.02 BTC from two members, and so on. My Cash Pool has a total of ten levels to earn profits from the company. All of these levels are associated with gifting Bitcoins. The only difference between the levels is the amount of BTC gifted to the affiliates.

Level Breakdown

MyCashPool.WordPress.com  provides the following breakdown of the ten payment levels:

  1. Members of Level One have to gift 0.02 BTC to their recruiter and get 0.02 by recruiting two more members.
  2. Members of Level Two have to gift 0.03 BTC to their recruiter and get 0.03 by recruiting four more members.
  3. Affiliates of Level Three have to gift 0.05 BTC to their recruiter and get 0.05 by recruiting eight more members.
  4. Affiliates of Level Four have to gift 0.2 BTC to their recruiter and get 0.2 by recruiting sixteen more members.
  5. Members of Level Five have to gift 1 BTC to their recruiter and get thirty-two by recruiting two more members.
  6. Members of Level Six have to gift 2 BTC to their recruiter and get 2 by recruiting sixty-four more members.
  7. Affiliates of Level Seven have to gift 4 BTC to their recruiter and get 4 by recruiting 128 more members.
  8. Affiliates of Level Eight have to gift 8 BTC to their recruiter and get 8 by recruiting 256 members.
  9. Members of Level Nine have to gift 16 BTC to their recruiter and get 16 by recruiting 512 more members.
  10. Members of Level Ten have to gift 32 BTC to their recruiter and get 32 by recruiting 1,024 more members.

Investing in a gifting scheme like My Cash Pool is a not good idea because its entire business model revolve around gifting BTC and recruitment. It can collapse anytime due to lack of recruitment. Instead, you should use the crypto trading bots to earn profits in the crypto industry by using such reliable tools that offer flexible trading preferences.  

Sign-Up Procedure

MyCashPool.WordPress.com provides the following ten steps to become a part of the company:

  1. Register on the website by providing your email and setting a password.
  2. Complete the form with the requested details for account creation and confirmation.
  3. Login in to your newly-created account on My Cash Pool website.
  4. There will be an option of Add Wallet in your account. Click on it.
  5. The website does not give the wallet address. It claims that you can get the wallet address through your blockchain account from Blockchain.Info.
  6. Select the Recieve tab to get information about your wallet and copy-paste it into your account of My Cash Pool.
  7. Now, you shall be able to access the blockchain wallet that will allow you to send or transfer BTC.
  8. You can upgrade your account by accessing the Upgrade option from the dashboard and spending BTC.
  9. Every transaction has its own particular hash id, which is used while gifting the BTC.
  10. Finally, when the transaction i.e., gifting of the BTC, is completed, you will become the affiliate member of the company.

MyCashPool.WordPress.com

Despite this extensive procedure, the website does not have much information about the actual working of the company. For instance, there is no external source of revenue. The company is fully relying on recruitment, and the affiliates are gifting BTC to each other. Such kind of business model is not sustainable at all.

Final Verdict About My Cash Pool

The very first thing that we should consider about this bitcoin gifting company is its owner. Ashish Raja is known to be running several failed companies before. In fact, most of his companies were Ponzi scheme that caused a lot of financial harm to the members.

There is no point in investing in a company that is run by a man who has a past of running several failed companies and scamming people by promising huge profits.

Comparison between My Cash Pool and other companies run by Raja shows that there is not much difference in their business structure. All such companies are run by recruiting more affiliates and using their bitcoins or cash to pay the old members.

Furthermore, the analysis of the compensation structure shows that it is not beneficial for the affiliates. They have to recruit a large number of people to earn any significant profits. Most of the money will be going towards the managers and owners of the company.

Therefore, it is clear that the purpose of My Cash Pool is to take a massive amount of money and Bitcoins from the members without giving any significant profits. Ultimately, the company will collapse due to a lack of recruitment, and most of the money will be in the hands of its owner.

So, if you do not want to lose your money in bitcoin gifting schemes like My Cash Pool, you should consider not investing in it in the first place. Instead, you should use the crypto trading bots that are much more efficient and reliable than MyCashPool.WordPres.com. These bots will provide a good support system and modern trading techniques that will help you in earning maximum profits from crypto trading. 

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