Website & Company Information
The web domain of the company was registered on the 12th of November, 2019 and was later updated on 2020–05–13.
According to the website, Aldamax is headed by the CEO, “Nasser”, further research revealed the full name as Nasser Altayer. Backing Nassar is the marketing director of the company, Diego G. Barbosa. We were hoping to get our hands on some faces on the website, but sadly we could only see the names.
However, with limited information on the website, we continued our research and found no online footprint pointing to these individuals.
Now before we move on to the next section, always remember if a company is not transparent about its corporate structure, then it doesn’t deserve your money.
The affiliate members of Aldamax are given access to MIG Messenger, a mobile messaging app. Apart from that, the company does not have any retail products or services to offer, but only its affiliate membership program.
Note: All the MLM companies must provide a retail option if they are serving clients in the U.S and Canada.
Aldamax’s Compensation Plan
The affiliates invest a minimum of €100 in Bitcoin on the promise of a 25% monthly ROI. The maximum investment cap is €100,000.
All the ROIs are capped at 400%. These returns are either paid in Bitcoin or MIG Coin.
A 10% commission is rewarded to Aldamax affiliates each time when their recruits personally invest funds into the company.
Aldamax pays residual commissions via a binary compensation structure.
And for example, if an affiliate has invested €500, they cannot earn more than €500 in residual commissions a day.
Cost to enter the Aldamax affiliate membership is €50, and full participation in the attached income opportunity requires an additional minimum investment of €100
Aldamax claims of generating revenue through forex and cryptocurrency trading and yet fail to show any substantial evidence to back its claims. Also, the website is filled with Tradingview widget to show live prices of financial assets. This practice is often seen in the majority of shady MLM websites.
Where is the proof?
According to the website, the company is incorporated in Dubai, but we couldn’t find any certificate of incorporation on the site. And since the company is offering ‘passive investment’ opportunities, it isn’t registered with any financial regulator. This means Aldamax is illegally offering securities.
As said earlier, Aldamax has an app that rewards its users based on their activity on the app. The MIG website claims of launching its app in Europe and Asia in late 2018, but the website domain was registered on the 23rd of March 2020. We can say that their app was launched recently.
The company is motivating its members to use MIG app using the MIG Coin as the reward. But we must take note that the MIG Coin is another ERC Token that has no real value outside the Aldamax ecosystem.
The company issues its own ERC-20 token because it takes little time to deploy or clone a smart contract, and the process is cheap. You can say that the company prints Million dollars worth of tokens (speculatory valuation) and rewards the users with its tokens that have zero value.
On top of that, they are running a pyramid scheme as their only verifiable source of income is the new investment. And as always, the math behind Pyramid schemes is that they will keep on paying until new investment stops coming in. And you know what happens when fresh money stops going into the system.