AddWallet Review: Third incarnation of WCA?
There is no information on the Addwallet website indicating who owns or runs the business.
The company’s website domain (“addwallet.com”) was registered on the 26th of December 2012, however the domain registration information is set to private.
Further research into the ownership of Addwallet however has revealed one unconfirmed possibility.
Back when AddWallet first launched a few weeks ago, the website was hosted on a server hosted on the 63.208.1.30 IP address. According to two independent WHOIS records, another domain (and attached subdomains) were also being hosted on this address.
A Google cache of HypeStat reveals one other website on the same domain:
With TrustOrg showing additional subdomains:
Out of the above domains, “wcanow.com” and “members.wcanow.com” are of concern to our research. For those not familiar with the seedier side of the MLM industry, WCA stands for World Consumer Alliance.
World Consumer Alliance is a $2 micro Ponzi scheme started by Paul Skulitz back in late 2012 under the name Wealth Creation Alliance (WCAREV).
Following the initial launch of Wealth Creation Alliance, CEO “Coach” Blaine announce the company was changing its name to World Consumer Alliance, after it was revealed a previous “Wealth Creation Alliance” had turned out to be a scam.
Despite being a Ponzi scheme themselves, Blaine explained they didn’t want to be associated with the previous WCA scam (which had no connection to Skulitz’s new WCA).
In a further attempt to distance itself from the name, the company then later changed its website domain from “wcarev.com” to “wcanow.com”.
Not surprisingly, in early January members of World Consumer Alliance began reporting that the company was not paying its members. Coincidentally, this was also around the time AddWallet was first announced.
The obvious theory here would be that after convincing thousands of people to invest in Wealth Creation Alliance and World Consumer Alliance, that the admins had paid out what they could (initial Ponzi ROIs attract new investors), and were now looking to launch a new scheme under the “AddWallet” name.
This certainly explains why there’s no management or owner information on the AddWallet website and the domain registration is set to private.
To date, no explanation has been provided by either AddWallet or World Consumer Alliance as to why the two company’s websites were being hosted off the same domain.
As late as a week or so ago, both the AddWallet and World Consumer Alliance websites were moved off the shared hosting account and placed on their own dedicated hosting servers.
Update 30th March 2013 – On a recent AdWallet affiliate call Louis Cordero was named as the Ecuador based CEO of AddWallet.
Brandon Bradshaw was also named as Vice-President (based in Florida in the US) and Logan Chamberlain as CFO (based in Ecuador).
An AddWallet presentation I was recently forwarded also names AddWallet as a subsidiary of “Cartera International”, allegedly a registered corporation in Ecuador. /end update
Read on for a full review of the AddWallet MLM business opportunity.
The AddWallet Product Line
Despite the copious amount of information on the AddWallet website pertaining to SEO, internet market, lead generation, website programming etc. etc, the actual AddWallet product is pretty straight forward.
AddWallet sells advertising units to its members, who in turn can then use these units to enter advertising (of websites) into a members-only rotator.
AddWallet sells advertising units are sold at a rate of 1 unit per $1 and are available in eight packages of 10, 20, 50, 100, 250, 500, 1000, 2500 and 5000 units.
AddWallet members are required to view a set number of websites via the rotator each day if they wish to qualify for certain commissions.
The AddWallet Compensation Plan
There are two primary components of the AddWallet compensation plan, membership fee commissions and a member-funded revenue share that revolves around the sale of advertising units.
Recruitment Commissions
AddWallet pays recruitment commissions per the direct recruitment of new affiliates. How much of a commission earnt depends on the paid membership level of an affiliate:
- Silver membership pays $2 per new affiliate personally recruited (any membership level)
- Gold membership pays $2 (Silver) and $10 (Gold) per new affiliate recruited
- Diamond membership pays $2 (Silver), $10 (Gold) and $20 (Diamond) per new affiliate recruited
Note that Silver members can only earn a max of $2 regardless of the membership level a recruited affiliate is at. Gold members earn $10 for all recruited Gold and Diamond members and Diamond members only earn $20 on recruited Diamond members.
Membership Fee Commissions
There are three membership fee levels within AddWallet, with each paying out different commissions.
Silver membership ($10 a month) is required if an AddWallet member has invested in more than 10 advertising units.
Gold membership ($50 a month) is required if an AddWallet member has invested in more than 50 advertising units.
Diamond membership ($99 a month) is required if an AddWallet member has invested in more than 100 advertising units.
Silver members are paid membership fee commissions using a 2×10 matrix with Gold and Diamond members paid using a 2×15 matrix.
A 2×10 matrix places an affiliate at the top with two legs branching out under them. These two positions represent recruited new members and form level 1 of the affiliates matrix.
Under these two levels another two branch out (level 2) and so on and so forth down 10 levels (Silver and Gold members extend down to 15 levels).
Commissions are paid out depending on an affiliate’s paid membership level:
- Silver members are paid 30 cents per affiliate in their matrix
- Gold members are paid $1 per affiliate in their matrix
- Diamond members are paid $2 per affiliate in their matrix
Volume requirements are mentioned in the compensation plan, however they have been suspended until February.
Advertising Unit ROIs
Each advertising unit AddWallet sells generates a ROI via the company’s “Retail Profit Pool” for 90 days from the date of purchase. This Retail Profit Pool is paid out daily and consists of revenue generated by the sale of advertising units to AddWallet members.
AddWallet themselves provide no information on the ROIs offered, however AddWallet members are quoting a minimum ROI of 1% a day and “up to” 2%.
AddWallet pay members 75% of the daily ROI, with a minimum of 25% of the daily ROI needing to be re-invested in the purchase of new advertising units. Optionally, AddWallet affiliates can increase their re-investment amount incrementally up to 100%.
Referral commissions are also paid out on the investment in advertising units made by members, with this revenue coming out of the Retail Profit Pool itself (thus driving down the effective ROI paid out to all members).
- Silver members earn 7% on their level 1 affiliate’s (personally recruited) investment amounts
- Gold members earn 7% on their level 1 affiliate’s investment amounts and 5% on level 2 (affiliates recruited by level 1 affiliates)
- Diamond members earn 10% on their level 1 affiliate’s investment amounts and 5% on level 2
In order to qualify for a daily ROI, AddWallet members must view seven ads a day via the company’s advertising rotator.
Joining AddWallet
Initial membership to AddWallet is free, with the company charging a monthly subscription depending on how many advertising units have been purchased by an affiliate (including re-investment).
- 10 units = Silver Membership at $10 a month
- 50 units = Gold membership at $50 a month
- 100 units or more = Diamond membership at $99 a month
Conclusion
Under the guise of selling advertising, AddWallet combines elements of both a Ponzi scheme with that of a pyramid scheme.
The whole matrix and membership fees thing is straight up recruit more members, pay the company more money and earn more money. These commissions are paid straight out of each affiliate membership fees and are paid out on nothing more than the recruitment of said members.
The whole “Retail Profit Pool” meanwhile is pretty much just a member-funded investment scheme. Given that it’s obviously only going to be funded by AddWallet affiliates, why AddWallet have decided to call it a “Retail Profit Pool” is beyond me.
In anycase, members invest in units and then earn a daily ROI subject to the completion of a pointless task. View seven ads a day, pat your belly, drink 9 cups of coffee… take your pick because it doesn’t really matter.
With no other identified revenue source and nothing being sold to retail customers, all that matters is that members continue to invest real money and recruit new members who also invest new money in advertising units to keep the scheme afloat.
The more money invested by affiliates, the larger the ROI paid out. And naturally once the returns owed exceeds the new investments coming in (even with forced 25% reinvestment), the entire scheme collapses.
When you consider that AddWallet appears to have its roots in World Consumer Alliance this of course isn’t all that surprising. What might be surprising though are the claims by the company that “thousands” have already signed up for their scheme.
First Wealth Creation Alliance, then World Consumer Alliance and now AddWallet… third time lucky?
Pity Ponzi schemes have nothing to do with luck.
If it was not for you all reporting this stuff I would be a whole lot more poor then I am now lol Thanks for looking out for us!
This is a virtually identical copy of Ad Surf Daily Ponzi… Either scammers never learn or they really believe “there’s a sucker born every minute”.
The back office looks looks just like Zeek Rewards
Yeah if I didn’t know any better I’d say they were running the same backend.
I read today that advertising units expire after 90 days too, just like Zeek Rewards. So basically instead of bids and a sham penny auction front end this is just advertising.
A testament to just how easy it is to substitute frontend “products” in Ponzi schemes. Like Zeek Rewards however, this is just going to be another affiliate-funded investment scheme nightmare.
Last I heard they now had over 18,000 registered members.
According to all the great services they are claiming to offer and how professional they claim to be etc… You would figure the site would be at least “secure”(which it is not) and you would also figure they would have a contact number or info on the site somewhere.
If the 18,000 registered member number is correct, it would mean that 18,000 people registered their contact information through an unsecure website.
Here is some of what is being promoted:
AddWallet is owned by “Cartera International,” an Ecuadorian-based legal
corporation.
The Management Team Members Are:
Luis Cordero – CEO
Brandon Bradshaw – VP/Sales Director
Lee Stevens – COO
Dr. Logan Chamberlain – CFO
I was told from a very reliable source that this is not WCA so the comment above JohnA from is probably correct.
It’s *related* to WCA, in that
1) They share the same webhost, which means they went through the same reseller which indicates which sort of circle they run in
2) They share the shaky lack of real business model.
3) They are pitched / marketed to the same sort of people… the “make-money-fast-do-nothing” crowd
There’s probably no DIRECT FINANCIAL link but then, you can always put up some sacrificial lambs as your public face or put up some no-name individuals that’s impossible to research. Just that having a management team that has no link to WCA doesn’t mean AddWallet is legit. It just means it’s slightly less illegit.
Nobody has explained why AddWallet was on the WCA private web hosting server.
If that’s not a direct link I dunno what is.
The same website developer uses that same web hosting company for over 20 different customers. AddWallet has been moved to it’s own server now.
There are many more errors in the posting list at this site. Got to get the facts straight guys, before posting and drawing erroneous conclusions.
That’s all very well, except for the fact that WCA and AddWallet were the only two companies hosted on the server.
Given the obvious HYIP similarities between the two schemes, you’ll have to do better than that son.
I really don’t see the big deal with respect to being hosted at the same server.
Brandon Bradshaw has explained, that he did the HTML work and website design for WCA and also for addwallet.
He also claims that WCA did not pay him for his work, therefore he was the owner of the templates and work that he had done. So, he set about creating another opportunity and addwallet was the result. That seems totally feasible to me.
With respect to your comments about viewing websites for 20 seconds is like rubbing your tummy or drinking coffee, that is a silly statement and has no basis in fact.
The value in having 30,000 pairs of eyeballs viewing websites every day results in the degree of importance listed by Google and other search engines. For people that are promoting businesses that is an extremely important function.
Addwallet is only three weeks old and already the membership is over 30,000 you’ll have to work harder at slowing them down.
And, I am not your son! If I were you would be well over 100 years old.
Respectfully, Elliot
By themselves, nothing. It’s merely one sign (among many)
But most webhosts don’t want to be associated with suspect schemes (a lot like porn) so there are special webhosts that cater to that audience. Where you find one, you usually find more.
There are even web design companies that specialize in making suspect scheme websites based on a template. Want to run your own? Costs just a few hundred dollars.
And please don’t try that “bandwagon fallacy” here. 30000 members can’t be wrong? Phooey. Zeek Rewards had MILLIONS of members. Ad Surf Daily ponzi that tens of thousands too.
Please. Google couldn’t care less about a website rotator on some crappy Ponzi scheme site.
There is absolutely no value to legit advertisers when a rotator is attached to a Ponzi scheme where participants are required to view websites to get their ROI.
Might as well get affiliates to rub their tummies or drink cups of coffee, at the end of the day their daily ROI still only comes from new investor money.
When they changed the graphics WCA entering the back office, there was a button to display advertisements and 7 bar as Zeek, which showed that they had qualified to receive commissions in 24 hours.
Then they even changed the back office as it is today, so I guess AddWallet are always the same as WCA, certainly another FLOP.
You folks gotta remember this is our US government that says this is a ponzi and 90% of us wouldn’t trust the government as far we can throw them.
If we were going by the real constitution we wouldn’t be breaking any laws as long as we knew the risks we were taking.
Actually it is a company’s business model that dictates whether or not it is a Ponzi scheme.
Which part of government? Or are you mixing it all up in a single lump, i.e. toss the baby out with the bathwater?
Your ideas will be easier to understand if you can point out the exact Chapter (or Amendment) in the Constitution, and if you can give some information about court cases where that rule has been used successfully to defend Ponzi schemes.
“Every Citizen has the right to bear arms and to participate in all sorts of investment opportunities.” 🙂
Any new news on this company? I want to get in.. i just need more new info. 🙂 thank you
They’re still using the same Ponzi scheme compensation plan so not really.
Invest at your own risk and with the knowledge that as time goes by the eventuality of new investor money going into decline only draws nearer.
any other programs you recomend? I want to get into something that makes money that is a good business.
Since i am in a wheelchair and cant move easily, I need something i can do from home. thank you so much.
I don’t offer recommendations, only reviews and analysis. Ultimately your due diligence is up to you.
We don’t recommend anything here, e.g. specific programs. But people can probably recommend “general solutions” to something.
1. Usually it’s easier to identify what to AVOID than what to JOIN. If you analyse what you want to avoid, you will probably get a clearer picture of what you’re looking for. Put it down in writing.
2. Test your potential choices with both parts of your brain. Use both the LOGICAL part of it, and the VISUAL / EMOTIONAL part of it.
That method prevented me from buying into an MLM opportunity 20 years ago (before internet), where the potential reward was promising (“buy a position”), but where I didn’t have the skills needed. I tried to visualize myself trying to sell the stuff in homeparties, and found that I was clearly not attracted to that type of sale.
It’s more important to ask “Do I have the skills needed here?” than to ask “How much can I potentially earn?”.
3. Look for a realistic PLAN rather than for opportunities. A realistic plan should normally start from your own set of skills, e.g. if you have some specific skills that can be useful in business. It can be anything people can be willing to pay you for, e.g. “I’m relatively experienced with web design” can be converted into a potential source of income.
3a. Try to improve existing skills rather than adding new ones, or do both (add small portions of new skills or insight from time to time on a regular basis, but have the primary focus on your existing skills).
CONCLUSION
I’m basically recommending you to THINK different than most people, try to find the solutions and the income potential inside yourself rather than “out there”.
I don’t think any of the opportunities you can find here are very attractive, but that’s my PERSONAL view. Other people with different viewpoints might find some of them attractive.
This website is following a “THINK different” idea. “If people are looking for information about opportunities, try to deliver it rather than looking for it yourself.”
An idea doesn’t have to generate money DIRECTLY. It can generate insight and experience, and that can potentially generate income INDIRECTLY. Just make sure the idea has some potential for it.
Thanks for all the great information everyone.
I have one comment to make:
I see the danger in AddWallet being operated like a Ponzi Scheme but one thing should not be overlooked.
That’s the legitimate selling of advertising!
The reason I joined AddWallet is BECAUSE the advertising actually works!
Before I became a member of AddWallet someone else advertised my Primary Business for me using the AddWallet system and I actually signed up one of the AddWallet members who was looking at his daily requirement of 7 Ads for 20 seconds.
My primary business is a true Network Marketing opportunity with a real consumable product and I now have a new distributor because the AddWallet advertising system works.
If they’re saying that they are bringing out a Premium Advertising Program that will generate additional revenue, this may be worth considering and not write them off so quickly.
Just some food for thought.
@Everest
Nothing is “operated like a Ponzi”, either it’s a Ponzi scheme or it isn’t. In the case of AdWallet, it definitely functions like one.
At the end of the day what a Ponzi scheme is attached to is irrelevant. It’s still a Ponzi scheme.
That’s like a bank robber saying “one more then I’ll retire”, isn’t it? It’s just an empty promise.
No external revenue = Ponzi scheme.
The fact that your ad managed to recruit someone is irrelevant.
Think about it: You paid to show ads to other members. Other members paid to show ads to you. It’s just the same money moving around! WHERE IS THE “PROFIT” COMING FROM?
Everest..I agree with you 100%. I am getting so much traffic to my website. ALL because of ADDWALLET.
i have paid google 450 a month and get no responce for my business. i give addwallet 10 bucks a month and have gotten over 1,700 hits and 19 new customers. ALL i can say is that IT WORKS!!
im making 2 bucks a day in addwallet, havent signed anyone up. just put 20 bucks into it and have made over 4500 from my advertising. 🙂 i am super happy. and i only have an 8th grade education.
Bravo, but the business model itself is still bull****.
Google Adsense is not suited to get-rich schemes. AddWallet’s members, on the other hand, are uniquely suited as they sign up to “get rich”, thus makes more sense for you.
However, “it works therefore the company’s not scam” doesn’t work because there’s more than one way for company to be scam… such as operate a Ponzi while pretending to sell a legitimate product. (Hey, just look at ASD or Zeek)
I totally appreciate your points of view, Chang and Oz. I am not dismissing your astute observations about AddWallet’s Business Model.
I am an Old School Network Marketer who believes in offering a valuable Product or Service to the end consumer so as to turn a profit.
All I’m saying is I got involved in AddWallet strictly for the advertising which is definitely working for me and as to the Ponzi Scheme aspect of it, I am willing to give them some more time to see what products and services they bring out before casting a final judgment on them.
Peace out!
It is definitely your right to participate in a ponzi in the hopes of them turning legit. I personally though, believe that your trust to be misplaced.
Whats the coffee like in Ecuador. Have a hot latina rub my belly and improve employment by having a local view the 7 ads.
When there are not enough new affiliates coming in wait for the new version and start all over again. Iam getting tired of these harsh winters Oz.
If I keep getting so many hits and sales from my ads, then I will be down in Ecuador with you… I have never been so busy selling so much of these memory foam mattresses from my website thru addwallet. I have sold 38 beds in the last 2 weeks.
I paid google a fortune to be on top, and i am on page 38. with NOT one sold. I am a firm believer in the addwallet system. People are watching my ads and are ordering. And I only have a 6th grade education.
By the way, how much time do you think they have left of life? addwallet that is. maybe another month? you talk like it will be down in a week. 🙁 i hope not, i am making too much money with this. i only put in 10 bucks to sign up as a silver and 10 investment. this thing is amazing.
@Yssup
Too bad about the whole Ponzi scheme thing though huh.
That probably explains your enthusiasm.
Did you sell all your foams to affiliates?
Well, I am working, making money to feed my family, and hopefully my 2 kids will be able to have a lot better education than myself.
making money is hard to do.. maybe not for you OZ, but for me im excited due to im making money selling these beds to customers that are on addwallet.
Just because my family couldnt afford to put me through school and had to work on the family farm after the age of 13, maybe that does give you the right to tell me that im enthusiastic just since im making a few bucks with NO education. you really hurt my feelings. 🙁
You mean taking money from those who invested after you… right. Let’s keep it real.
Like I said, too bad about the whole attached Ponzi scheme.
Spare a thought for those whose wallets are going to hurt when this all comes crashing down (don’t waste my time pretending you’re not participating in the investment scheme, I don’t buy your mattress cover story for a second).
@Yssup, You can only sell so many foams to affiliates, I would suggest you do some local advertising in your area and even special promotions to promote your business. These MLM biz ops come and go like hot apple pie.
You would be best to brainstorm some advertising strategies in your local market.
i invested 20 usd. i dont care about the people below me. i have not told a sole about this program, nor will i.
i am just in this to have people buy my beds. i dont have a warehouse. they are just dropped shipped from the company i buy from. I just make 50 bucks on each one i sell. right now, i have MANY hits, and great sales. I mean, who can offer a $199 queen size memory foam including shipping????????
i dont sell anything in my area. for my $10 a month, this is THE best investment I have ever made. LIKE I SAID, I dont care about the guy below me, i have only made 1.67 cents from my addwallet account. but the advertising WORKS. 🙂
Yeah.. f’em right.
We tend to analyse the bigger picture here, which obviously extends far beyond your own hip pocket.
i am not a MLM person. I am a person who is selling beds. THAT IS why after reading the addwallet webpage, i gave it a try. AND NOW my hip pocket is GROWING. off of 20 usd. Let me see you try that X-AMIGO.
you are a fool for wasting your time on this web page since you are NOT making a penny. I am telling anyone and everyone, to GET into this program if they have something to sell. IT WORKS. I have the proof.
Keep wasting your time OZ on here, you are probably a person who gets money from Obama and waits for your MONEY each month. I bet you are a person who is ENTITLED to all the government money 🙁
Yeah I’ve read the marketing material, I know the misdirection involved… and I’m not buying it.
Nobody visits Ponzi scheme websites unless they are looking to invest. Don’t waste my time son.
“Oh our advertising works, oh our ebooks aren’t useless, oh we have real products bundled with membership”. This is nothing more than Ponzi BS 101.
Aaaaaaand here come the government conspiracy theories. Next up, “ah well, everything is a Ponzi scheme anyway”.
Wow maybe I can try to sell my red wiggler worms to the add wallet affiliates. Do you think there might be a demand for them?
Marco.. NO probably not. BUT i know there is a DEMAND for memory foam queen sized mattresses for $199 including shipping. 🙂
anyway, i wont answer anymore about this… but thank you for the information. I really do appreciate it OZ.. and sorry if i said anything wrong.. i was only joking about the ENTITLEMENT comment. Thanks for your advise.
Huh?
The real question here is… What sort of person are you really looking for to buy your stuff?
Or phrase it another way… who sort of ad market are you placing your ads in?
Do the people who buy your foam mattress thing actually tell you they saw your ad in AddWallet ads? Are they also participants in AdWallet?
Perhaps you’re just selling a couple mattresses to people trying AddWallet like you. How many of those people are nearby that will come to buy your mattress thing?
Or perhaps a better question is, do people who buy your mattress foam thing actually watch internet ads?
Except Oz does not live in the US. Your insult is a few thousand miles off.
I’m also curious on the tracking statstics. Ponzi scheme advertising fronts aren’t really robust on the link tracking side of things (unless the advertiser sets it up on their end, which doesn’t give you the whole picture).
Hey guys, sorry a little off topic. But lets assume some guy living outside the U.S.A made over a 100k in zeek bought a few vehicles and other senseless consumer junk, never claimed or paid taxes and literally doesnt worry about clawbacks or his own nations SEC.
I completly agree the business model is always doomed, but i ask you guys this will you eventually tired from reviewing and warning people about this when they just keep morphing and multiplying with no recourse. Sorry but it seems like a pipedream of stopping human nature of making a buck regardless of the harm done to others.
In that case, you have to have “faith” in that karma will bite him back eventually. 🙂 Much like MLMers have faith in making money.
Thanks to K. Chang for pointing me to this discussion.
Just wanted to add that before going to private whois, Addwallet.com lists Stephen Cormier in FL as the registrent, and Addwallet.net lists Mikjel Helmers.
Hi there,
I am a member in AddWallet and they seem to be having issues with payments right now, at least that is my experience right now.
Don’t get me wrong but I have been paid over 4k and really put in only less than $500. I am waiting to be paid about $600 and support has not supplied any answers.
The conference calls carry on saying everything is fine with payments resuming as normal, I need at least one more week to verify that. I will come here again and let you know if resolved satisfactorily.