Website & Company Information
The web domain of the company was privately registered on the 10th of April 2019 and was later updated on 2020–04–04. The website does not provide any information about the owner or the team behind the company.
Two similar schemes
We looked at the ‘About Us’ page of the site to gather some info about the company, but to our disappointment, all we saw was some ‘feel good’ statements. Since we daily review MLM Schemes, we felt some similarity between Cryptoix and another MLM Scam that we had reviewed earlier.
In order to confirm our doubt, we ran a plagiarism check on the content posted on the About Us page of the site. Results were as follows:
So this a clone of another Bitpaxosglobal, an MLM Scam.
Now before we move on to the next section, it is always important to remember that a company with zero transparency is asking you for your money. How are you going to trust them?
The company does not offer any products or services. It only sells its affiliates membership plans that are aimed at bringing more users into the system.
The matter of concern here is the lack of retail option. An MLM must provide a retail option if it is catering to clients from the U.S and Canada.
Cryptoix’s Compensation Plan
The affiliates are required to invest anywhere between $100 to $100,000 on the promise of daily ROI up to 200%
These returns are supposedly paid out in 7 days.
The company accepts Cryptocurrency, Payeer and Perfect Money.
The company pays referral commissions via a unilevel compensation structure, capped at four-team levels:
- level 1 (direct recruits) — 9%
- level 2–3%
- level 3–2%
- level 4–1%
Joining Cryptoix affiliate membership is free, but full participation in the attached income opportunity requires a minimum investment of $100.
Since it is a clone of another MLM Scheme which we had already termed as SCAM, we already know this one has the same characteristics.
But for the sake of the review, let us look at the some of the points before calling them a Ponzi.
Cryptoix claims that it generates external revenue via Bitcoin Mining. We perform extensive research about the same but couldn’t find any proof that could back this claim of the company.
Apart from the fake claim, Cryptoix also fails the Ponzi Logic Test because if the anonymous owners are able to generate 200% a day ROI, then why do they need your $100 bill? Why aren’t they Jeff Bezos by now?
The only verifiable source of revenue entering Cryptoix is the new investment, and the company is using this new investment to pay existing affiliates. Once new investment dries, the company will halt withdrawals — triggering a system collapse and your hard-earned money will be gone!