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My Crypto Consult Review: Is this a Crypto Scam?

My Crypto Consult Review: Is this a Crypto Scam?

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My Crypto Consult is a multi-level trading platform that requires users to sign in using the referral links and earn a certain percentage on commission. However, do not be so quick to give you details to this investment firm as they expose multiple red flags.

Investors who sign up for My Crypto Consult expect to receive crypto services; this is not the case because it mainly focuses on the affiliate program. However, if you’re looking to make profits, you should try this tried and tested trading tools to make profits for you and lower the risks you encounter while trading.

Furthermore, they do not reveal any details of the people behind the investment, and the company was registered anonymously. Therefore any investment firm which you wish to invest with must provide details of their founders.

The fact that there is no data regarding the people behind the platform raises more doubt in the kind of returns you expect. My Crypto Consult has some murkiness in the method of operation. Experts in the trading world will, at first glance, notice the red flags exposed.

It is essential to know the kind of qualification the people behind the platform hold, or you risk trusting people who do not have even any experience. The platform was registered in June 2018, yet the people who registered this company are unknown.

However, during our research in coming up with this unbiased review, you can find one name Willi Morant who is also on Facebook. He claims to have developed the project besides his name on Facebook; there is no relevant information regarding the kind of experience he holds.

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Mycryptoconsult.io Review

Scammers rarely provide any information that leads to the whereabouts of their location, and similar traits are observed in My Crypto Consult. The company claims to be associated with GlamJet Foundation, which is a decentralized App.

My Crypto Consult Review, Mycryptoconsult.io Platform

They also claim to have FuturoCoin, which works hand-in-hand with the platform to create a marketing company for the application. GlamJet Foundation helps with secure transactions within the blockchain.

However, the sales page is poorly presented, and they fail to reveal any data regarding the methods of operation. The kind of strategy used in making a profit is also unknown on, and this investment depends on other investors to pay you.

Multi-Level Marketing (MLM) is only profiting from the initial investors, and at some point, money stops coming in. Therefore when there is no money to pay the new investors, the company may result in shutting down.

Furthermore, affiliate companies that do not reveal information about the people behind the company never really turn out to be profiting. Investors are also not given any product they can sell or use to attract new customers.

Hence it is almost impossible to attract new members into the platform by only promoting the company without having anything tangible investors can purchase. Once you’ve managed to invite new members to the company, you will receive a specific commission.

The company uses GLAM tokens to pay investors, and you receive a token bonus based on their plans. Nevertheless, do not be so quick to invite your family and friends into My Crypto Consult.

This is simply because all profit was being made then the traffic level or being higher in the Investment firm. The company will also be recognized all over the globe for well-known services, yet this is not the case.

Upon the successful invitation of a new member and they deposit money, you get 10% or whatever the amount for recruitment. They also feature a binary compensation structure, and the affiliate can create their team.

How it Operates

My Crypto Consult has various investment plans that you can choose and benefit from profitably. Investors are paid using GLAM tokens, and the plans are broken down into multiple packs, Leverage Pack, which generates more than 6.5millioon tokens in just six months.

QuickSilver Pack generates 44000 tokens, and the commission is given on deposits from $2000. Pay Maxx plan is valid for one year generating up to 22 million GLAM tokens. VIP and Elite generate up 75 Million Tokens.

These plans seem very tempting and maybe easily lowered into expecting to make returns. Eleven scammers use the same traits, and it should not fall for the catch because you may end up making losses.

Customers can also receive a residual commission, but this is only payable through a binary structure. Moreover, customers do not know the time it takes to make returns, and it would only be wise not to invest in the company. My Crypto Consult also pays investors a bonus that depends on a uni-level commission.

In the uni-level structure, investors who generate more affiliate get to be at the top, and the structure is set to change. Therefore the investor at the top may not stay there constantly, and you have to invite more members to earn income continuously.

The matching bonus is set constantly at 5%, and you receive this based on the number of investors you managed to bring to the company. The platform also has a “Holiday and Car Bonus,” which is the compensation plan.

The initial investors have to reinvest funds every 6 to 12 months. One GLAM token is an equivalent of 12 cents.

Testimonials

Every Ponzi scheme uses fake testimonials of the marketing strategy to tempt you into depositing funds in the account, expecting massive returns. However, do not be so quick to fall for this catch. No investors are making any profits, and you will not likely make any.

If at all these investors are making any profit, then they will quickly prove this information by providing evidence of the same. The names are just made up, and these people do not exist anywhere in social media; this is a major red flag not to trust Crypto Consult.

Regulation and Customer Support

The company has not revealed any regulatory information. They are not legally allowed to generate funds from the public. There is also no visible contact support that you can use to rely on in case you require assistance in the company.

The owner of My Crypto Consult risk facing criminal prosecutions for illegally operating while swindling investors’ funds. The company also risks facing closure for their illegal behavior with all your money in the company.

The company also may quickly go against all the set laws, and this is very risky for most customers. Unregulated platforms do not last for long in the market, and you should be provided with working contact support.

Final Verdict

The price of GLAM tokens is meager, and not many people are using it; hence it is not likely to appreciate in value. You are not given any retainable product that you can use to attract investors on to the company, and this is a major red flag. You should always invest with profitable crypto trading bots in the market.

The company also has fake testimonies that you cannot verify the legitimacy—hence falling for the catch maybe the wrong idea. There is no evidence of any successful payments to investors, and they also do not have any feedback that is positive to recommend them.

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