Crypto Lover Review: Oldschool queue gifting with bitcoin
There is no information on the Crypto Lover website indicating who owns or runs the scheme.
The Crypto Lover website domain (“cryptolover.com”) was privately registered on November 5th, 2016.
Of note is the Crypto Lover website is hosted on the same private server as Fundising, Matrix Million and a number of suspicious sounding schemes.
Fundising is a cash gifting scheme launched earlier this year in August. Alexa traffic estimates for the Fundising website suggest the scheme began to collapse in October.
Perhaps not so co-incidentally, Matrix Million is a Ponzi cycler launched in October. Alexa traffic estimates for the Matrix Million website show a flat-line for this month, likely prompting the launch of Crypto Lover.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The Crypto Lover Product Line
Crypto Lover has no retailable products or services, with affiliates only able to market Crypto Love affiliate membership itself.
The Crypto Lover Compensation Plan
Crypto Lover affiliates sign up and gift 0.003 BTC to six affiliates on a provided list.
This list is a centralized unilevel compensation structure, maintained by Crypto Lover.
When a new Crypto Lover has gifted 0.003 BTC to each of the six affiliates on their list, and those payments have been verified, Crypto Lover bumps the affiliate at the top of the list off.
The other five affiliates in the list all move up one spot and the new affiliate is added to the bottom of the list.
This new list is then sent out to newly recruited Crypto Lover affiliates as they join.
A Crypto Lover affiliate continues to receive 0.003 BTC from newly recruited affiliates through six generations of recruitment.
Joining Crypto Lover
Crypto Lover affiliate membership is tied to a 0.003 BTC payment to six existing affiliates (.018 BTC in total).
The Crypto Lover website is a delightful concoction of contradictions.
Take for example the company’s own description of its compensation plan:
You join a programme to earn money. Then, you pay to Admin but most of the times the Admin runs away with your all hard earned money but here your money is secure as you are not paying to Admin but you are paying member to member.
Then a few paragraphs down on the same page:
First you need to send BTC for ฿0.003 BTC each of the 6 members to the addresses mentioned below.
Step:2 The first 2 bitcoin addresses are the Administrators
So uh yeah, just like every other cash gifting scam out there, Crypto Lover’s anonymous admin will receive the most funds out of participants.
This is not a MLM or Money chain program. First of all, This system is 100% legal and 1000% successful. It is not a Scam or Fraud way of making Money.
Cash gifting is illegal the world over.
Crypto Lover’s approach to scamming people combines the old-school chain letter queue system with bitcoin.
Other than the use of cryptocurrency, it’s the same pyramid crap your parents received in the mail back in the 80s.
As with all cash gifting schemes, once recruitment of new participants slows down so too will payments throughout the scheme.
This will eventually prompt a company-wide collapse, resulting in the majority of Crypto Lover affiliates losing money.