ByXpress Review: Coins Race MCoin mining feeder
A ticker on the ByXpress website indicates that the company plan to launch sometime in May 2015. Håvard Michelsen is identified as ByXpress’ CEO.
The ByXpress website domain was registered on the 22nd of May 2014, with “Adonxpress Limited” listed as the domain owner. An address in Gibraltar is also provided.
Further research reveals this address belongs to Fiduciary Group, who offer “establishment of Gibraltar companies” as a service.
As such ByXpress appears to exist in Gibraltar in name only.
ByXpress marketing material also identifies Michelsen as the CEO of AdonExpress Limited, who as per the ByXpress domain registration appears to the be a parent company.
Four shell company registration addresses appear in the marketing material; one in Gibraltar (differing to ByXpress’ domain registration), one in the UK, one in Hong Kong and one in Turkey.
Michelsen (right) hails from Norway but, as per his Facebook profile, is currently living in Spain. This is in all likelihood where ByXpress is actually being run out of.
As far as I can tell, AdonXpress was launched in mid 2014 as an e-commerce portal. The company signed up with a bunch of third-party merchants and promised to pay users 50% of any commissions the merchants paid them.
Today the former AdonXpress website is defunct, with Michelsen looking to reboot the concept as an MLM opportunity under the ByXpress brand.
Read on for a full review of the ByXpress MLM business opportunity.
The ByXpress Product Line
As with AdonXpress, ByXpress has no retailable products or services of its own.
Byxpress is online portal, where you can do all the things you normally do online with just one click on one site and you get rewarded every time you and your friends are using it.
At the time of publication, categories listed on the ByXpress portal include shopping, news, travel, TV & Video, e-learning, games and social.
The company also runs the website Coins Race, which appears to be a mining cloud for the MCoin cryptocurrency.
Under the Coins Race brand, ByXpress also operate a casino, through which MCoin can be spent and won.
As with ByXpress and AdonXpress, Coins Race is also registered in Gibraltar.
Prices for mining with Coins Race are not provided on the company’s website, however a “business owner’s” document linked from the site mentions “mining contracts”.
The ByXpress Compensation Plan
The ByXpress compensation plan sees affiliates paid for generating activity through the company’s webportal.
ByXpress affiliates are also paid for recruiting new affiliates, both directly and residually.
ByXpress Affiliate Ranks
There are twelve affiliate ranks within the ByXpress compensation plan.
Along with their respective qualification criteria, they are as follows:
- Bronze – sign up as a Basic affiliate (€200 EUR) and generate 30 BV a month
- Gold – sign up as a VIP affiliate (€1200 EUR) and generate 30 BV a month
- Beginner – generate 30 BV a month, sign up and maintain 2 customers and mine at least 1 MCoin
- Builder – generate 30 BV a month, sign up and maintain 4 customers, mine at least 2 MCoins and recruit and maintain at least 2 Beginner ranked affiliates
- Connector – generate 30 BV a month, sign up and maintain 6 customers, mine at least 3 MCoins, recruit and maintain at least 3 Beginner ranked affiliates and generate at least 5 binary cycles (accumulative)
- Associate – generate 60 BV a month, sign up and maintain 8 customers, mine at least 4 MCoins, recruit and maintain at least 2 Beginner and Connector ranked affiliates (at least one on either side of the binary) and generate at least 20 binary cycles (accumulative)
- Partner – generate 60 BV a month, sign up and maintain 10 customers, mine at least 5 MCoins, recruit and maintain at least 3 Beginner and 2 Connector ranked affiliates (at least one on either side of the binary) and generate at least 75 binary cycles (accumulative)
- Coordinator – generate 60 BV a month, sign up and maintain 12 customers, mine at least 7.5 MCoins, recruit and maintain at least 3 Beginner and 3 Associate ranked affiliates (at least one on either side of the binary) and generate at least 250 binary cycles (accumulative)
- Mentor – generate 120 BV a month, sign up and maintain 14 customers, mine at least 10 MCoins, recruit and maintain at least 4 Beginner and 3 Associate ranked affiliates (at least one on either side of the binary) and generate at least 750 binary cycles
- Ambassador – 120 BV a month, sign up and maintain 16 customers, mine at least 20 MCoins, recruit and maintain at least 4 Beginner and 4 Partner ranked affiliates (at least two on either side of the binary) and generate at least 2500 binary cycles
- Vice President – 120 BV a month, sign up and maintain 18 customers, mine at least 50 MCoins, recruit and maintain at least 5 Beginner and 4 Partner ranked affiliates (at least two on either side of the binary) and generate at least 7500 binary cycles
- President – 120 BV a month, sign up and maintain 20 customers, mine at least 200 MCoins, recruit and maintain at least 5 Beginner and 5 Coordinator ranked affiliates (at least two on either side of the binary) and generate at least 25,000 binary cycles
BV isn’t defined in the ByXpress compensation plan, but I imagine is customers spending money on the web portal. It likely also includes an affiliate spending money on the portal and signing mining contracts through Coin Race.
It is also unclear whether the MCoins mining requirement is for an individual affiliate or their whole downline (I’m thinking the latter but again this isn’t clarified in the currently available documentation).
Customer Activity Commissions
The idea behind the Customer Activity Commissions is ByXpress affiliates attract customers to the ByXpress portal, who then purchase products or services offered by third-party merchants.
These merchants then pay a commission to ByXpress, who split the payment with the ByXpress affiliate who signed up the customer.
A flat rate 30% split is offered on the generation of any sales volume by introduced ByXpress website customers (non-affiliates).
ByXpress affiliates are paid to recruit new ByXpress affiliates.
There are two affiliate membership options currently available, Basic (€200 EUR) and VIP (€1200 EUR).
How much of a recruitment commission is paid out is determined by which membership option a newly recruited affiliates signs up for, as well as the rank of the recruiting affiliate:
- Bronze – 10% of the affiliate fee paid
- Gold and above – 20% of the affiliate fee paid
Residual commissions in ByXpress are paid out via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
Positions in the binary are filled via affiliate recruitment, with affiliates placed on both sides in a linear fashion.
Binary commissions are paid out according to volume generation between the two sides, with volume tracked via points.
The recruitment of a Basic ByXpress affiliate generates 167 points, a VIP affiliate 1000 points.
A commission is paid out whenever a “cycle” is achieved between both binary sides. A cycle is achieved them a ratio of 500 to 1000 points exists, on either side of the binary.
Once a cycle has been generated, a commission is paid out according to a ByXpress affiliate’s rank:
- Bronze – €25 EUR
- Gold or higher – €55 EUR
ByXpress affiliates can qualify for a 3% matching bonus on earnings of recruited affiliates, paid down a maximum ten levels of recruitment.
How many levels of matching bonus a ByXpress affiliate can earn on is determined by their rank:
- Bronze and Gold – no matching bonus
- Beginner – 3% down one level of recruitment
- Builder – 3% down two levels of recruitment
- Connector – 3% down three levels of recruitment
- Accociate – 3% down four levels of recruitment
- Partner – 3% down five levels of recruitment
- Coordinator – 3% down six levels of recruitment
- Mentor – 3% down seven levels of recruitment
- Ambassador – 3% down eight levels of recruitment
- Vice President – 3% down nine levels of recruitment
- President – 3% down ten levels of recruitment
Awarded as a rank achievement bonus, ByXpress Career Bonus sees affiliates given the following bonuses upon qualifying at specific ranks:
- Connector – pen and notebook
- Associate – portable projector and speaker
- Partner – laptop
- Coordinator – TV
- Mentor – rolex
- Ambassador – car
- Vice President – €111,000 EUR
- President – a villa (house)
Note that I’ve copied the bonuses verbatim from the ByXpress compensation plan material. At the time of publication no further specific information is available.
Affiliate membership with ByXpress is available at two price-points:
- Basic – €120 EUR
- VIP – €1200 EUR
The primary difference between these two levels is income potential through the ByXpress compensation plan.
The days of using a single portal to access the internet are long over. This is evidenced by AdonXpress launching and flopping last year.
Now, with integration into the MCoin cryptocurrency, we’re seeing the concept relaunched as a feeder.
In a nutshell, the failed AdonXpress web portal has been repurposed to channel people towards MCoin mining and use of the Coin Race branded casino (money laundering anyone?).
Non-affiliate activity on the ByXpress portal is likely to be non-existent, as there’s no incentive to use it.
With that said, I do acknowledge there are customer quota requirements built into the ByXpress affiliate ranks. There’s no mention of volume quotas though (other than general BV), which leads me to believe these customer quotas are only the signing up of users of ByXpress.
Whether they actually purchase anything through the ByXpress portal is likely irrelevant.
The BV requirement attached to the ranks is probably covered by the Coin Race mining contracts. Affiliates essentially pay ByXpress to use their mining cloud.
Tacked onto that is a recruitment-driven scheme within ByXpress, which sees affiliates paid to recruit new affiliates.
There’s also a pay to play element involved, with the VIP membership buying the Gold rank.
All in all if we discard the ByXpress web portal, all you’re left with is a mining service coupled with recruitment incentives. That’s pretty much the core of the ByXpress business.
Putting two and two together, I’d guess that after AdonXpress failed, Håvard Michelsen got involved in mining MCoin. Figuring he could use his existing web properties to build his mining efforts, that’s how ByXpress was born.
There’s probably affiliate commissions on the corporate side of things over at Coins Race if one were to dig deep enough.
Anyway, as an MLM opportunity ByXpress goes kaput when new affiliate recruitment slows down.
The binary needs to be fed by new recruits, otherwise no new volume is generated. The failure of AdonXpress shows us that the portal itself won’t go anywhere, so non-affiliate activity through it is unlikely.
And even then, whatever token activity might take place isn’t going to come anywhere near the €120 and €1200 ByXpress affiliates pay for their membership (and subsequent mining contract funds).
Combine all of this with shell company registrations in multiple dodgy jurisdictions, and you’ve got an opportunity that’s best approached with extreme caution.