World Cryptocurrency 101, which is abbreviated as WCC101 does not have information on their website about who owns or runs the operation. But they have provided us with two Ontario addresses, one in skyscraper in Windsor and another in a condo in Mississauga. The domain of the website wcc101.com was registered sometime back in March 2018. In those details, Scott Phounpadith was cited as the owner but through the same Windsor, Ontario address.
We have gone through Phounpadith’s LinkedIn profile where he claims to be an Independent Software Developer. He apparently learned how to code at the University of Windsor. In his Instagram profile, he claims that one of his interests is in the Cryptocurrency world. Unfortunately, we could not locate or link his history with any ponzi schemes.
Therefore, from what we can deduce of this information, it appears that World Cryptocurrency 101 is his first ponzi scheme. And since WCC101 is a ponzi scheme, that should ring bells in your mind. We do not like ponzi schemes very much here. They always result in losses especially when members are asked to pay in Bitcoin or any other Cryptocurrency.
By the way, WCC101 does not have any real product or service to offer. Instead, they are selling membership of World Cryptocurrency 101. That is the definition of a scam. You do not need more information to deduce that this website is taking you nowhere.
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World Cryptocurrency 101 affiliates are supposed to sign up so they can also recruit others below them. In order for one to qualify for commissions, an affiliate must convince at least 3 people to join World Cryptocurrency 101. The new affiliate pays $477 and their purchase is counted as one of the 3 qualifying sale.
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World Cryptocurrency 101 uses a binary compensation structure to pay out commissions. Positions in the binary compensation structure must either be filled by direct or indirect recruitment. This binary team can grow indefinitely as there is no limit on how it can expand.
World Cryptocurrency 101 claims that they will pay you $100 worth of Bitcoins when you make a sale. It also states that the target payment is $100 although it can fluctuate because of the exchange rate between the dollar and BTC.
Earnings are capped to $3000 every day. But this is allegedly going to be increased to $4,500 if you recruit 5 people from both sides of the binary team. There is also a matching bonus for your recruitment efforts. Bonuses range form 10% all the way to 20% depending on how many people have been recruited into the pyramid scam.
World Cryptocurrency 101 is allegedly providing their members with automated trading signals too. To be a member, remember that you must pay $477. This is like purchasing automated signals for that amount of money.
They claim that they are providing real information and real results before signals can take effect. They also claim that they do send summaries and updates of entries and exits of trades. This is supposed to benefit traders who love to manually trade the markets.
The specifics of these signals details have not been provided. Similar pyramid schemes will sometimes include a trading bot and a brokerage platform which then will require you to sign up with that broker in order to use that trading bot for ”free”.
Those who become members of World Cryptocurrency 101 are supposed to receive passive ROIs.
Basic membership will require $97. However, full membership requires $477. This must be paid after every 6 months. As you can see, this pyramid scheme is mostly designed to let money flow into the pockets of the owner. The exorbitant subscription fees tells the whole story.
Also, according to the website, members can view trading signals generated from World Cryptocurrency 101’s proven trading strategies that have been backtested for the last 5 years.
Their sales pitch says that whether you are new or experienced, they are providing detailed automated trading signals which can also help educate you on how to build your Crypto wealth quickly and safely.
If they claim that they do have an ”algorithm” that can make money, why don’t they just run the so-called algorithm and make tons of money instead of hustling internet users $477 every 6 months? That’s our biggest problem and question to these scammers.
If this is real, why sell the golden goose to the ignorant public for $477 aftere every 6 months? You see, 5 years of successful trading isn’t a joke. They should be among the richest Crypto players in the world. If they have been trading this long (since they are claiming to provide back-tested results), it is easier for them to continue making money that way rather than hustle it from the public. That’s common logic, right?
World Cryptocurrency 101 is associated with its owner, Scott Phounpadith. He claims to have graduated with a Computer Science degree back in 2016. He then goes ahead to list down programming skills that he has learned.
However, we are not able to relate this guy to the trading signals being offered on his website. It is not clear whether he is behind these automated trading signals. Learning computer science does not mean you will become a good trader.
Yes, we do know he has an interest in Cryptocurrencies. And we are not trying to discredit his alleged degree. However, we are just wondering why this profitable bot with a 5 year track record isn’t being run quietly like what you’d imagine if someone found a profit bot and started gaming the market with it.
Also, when we look back at the binary compensation structure, we realize that this plan is to drive more commissions into his pocket rather than that of the participants. He is clearly running a pyramid scheme which has been supplemented with trading signals to make it look like it’s a legit thing.
World Cryptocurrency 101 is for suckers who are not afraid to lose money. After the reputation of this website and also seeing that it is a pyramid scam, one cannot know these details and choose to get scammed anyway. Use these trading bots to make money safely without taking unnecessary risks.
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