CryptoSpot Review: 10% a day USD/crypto Ponzi scheme
CryptoSpot provides no verifiable information on its website about who owns or runs the company.
A marketing paragraph identifies “Daniel Hunt” as the owner of the company. This might as well be any name (and probably is), as no further information is provided.
CryptoSpot’s website domain (“cryptospot.biz”) was privately registered on January 16th, 2021.
Although its website domain was registered earlier this year, CryptoSpot’s socials went live in mid August. This coincides with the launch of the company.
At the time of publication Alexa ranks the top sources of traffic to CryptoSpot’s website as Russia (13%), Egypt (10%) and Venezuela (9%).
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.
CryptoSpot has no retailable products or services. CryptoSpot affiliates are only able to market CryptoSpot affiliate membership itself.
CryptoSpot’s Compensation Plan
CryptoSpot affiliates invest funds on the promise of advertised daily returns.
- Basic – invest $10 to $1999 and receive 8% a day for 30 days (240%)
- Premium – invest $2000 to $9999 and receive 9% a day for 30 days (270%)
- Enterprise – invest $10,000 to $200,000 and receive $10% a day for 30 days (300% ROI)
CryptoSpot pays referral commissions down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 2%
- level 3 – 1%
CryptoSpot affiliate membership is free.
Full participation in the attached income opportunity however requires a minimum $10 investment.
CryptoSpot solicits investment in USD (through Perfect Money), bitcoin, litecoin, dogecoin, ethereum, bitcoin cash, dash, ripple, tron, BNB, stellar and tether.
CryptoSpot is your typical low-effort MLM crypto Ponzi scheme.
You are on an investment platform that does not require any trading, cryptocurrency or derivative skills from you. Our team will earn for you and multiply your money.
There is no incentive for CryptoSpot to trade on behalf of anyone, let alone at 10% a day. Anyone able to legitimately generate that level of return would keep it to themselves.
Not withstanding at 10% a day, even a modest capital turns into a fortune relatively quickly.
As it stands the only verifiable source of revenue entering CryptoSpot is new investment. Using new investment to pay affiliates a 10% a day return makes CryptoSpot a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment. This will starve affiliates of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
At 8% to 10% a day, CryptoSpot’s collapse will likely occur sooner rather than later.