EchoOne Review: Trading ruse MLM crypto Ponzi
EchoOne fails to provide ownership or executive information on its website.
In an official marketing presentation, EchoOne cites “Nicholas Bennett” as its CEO:
Bennett doesn’t exist outside of this marketing slide. It’s unclear whether he’s an actual person.
Offical EchoOne marketing videos feature stock footage with robodub narration. This is typical of non-native English speaking admins. It also supports Nicholas Bennett not existing.
EchoOne’s website domain (“echoone.io”), was privately registered on August 21st, 2023.
As of November 2023, SimilarWeb tracked just ~1500 visits to EchoOne’s website.
40% of EchoOne website traffic originated from the UK, 36% was from the US, 14% from Canada and 10% from Hungary.
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.
EchoOne’s Products
EchoOne has no retailable products or services.
Affiliates are only able to market EchoOne affiliate membership itself.
EchoOne’s Compensation Plan
EchoOne affiliates invest $100 or more in cryptocurrency. This is done on the promise of a 0.7% to 1.8% daily return, capped at 300%.
Note that EchoOne charges a 3% deposit fee and 5% withdrawal fee. Withdrawals are also restricted to Saturdays and Sundays.
The MLM side of EchoOne pays on recruitment of affiliate investors.
EchoOne Affiliate Ranks
There are ten affiliate ranks within EchoOne’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Rank 1 – generate $25,000 in downline investment volume
- Rank 2 – generate $50,000 in downline investment volume
- Rank 3 – generate $100,000 in downline investment volume
- Rank 4 – generate $200,000 in downline investment volume
- Rank 5 – generate $300,000 in downline investment volume
- Rank 6 – generate $400,000 in downline investment volume
- Rank 7 – generate $500,000 in downline investment volume
- Rank 8 – generate $1,000,000 in downline investment volume
- Rank 9 – generate $5,000,000 in downline investment volume
- Rank 10 – generate $10,000,000 in downline investment volume
Note that the following restrictions apply to required downline investment volume:
- no more than 50% from the strongest recruitment leg
- no more than 30% from the second strongest recruitment leg
Referral Commissions
EchoOne pays base referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
EchoOne caps payable base unilevel team levels at four. Base referral commissions are paid out across these four levels as follows:
- level 1 (personally recruited affiliates) – 9%
- level 2 – 5%
- level 3 – 2%
- level 4 – 1%
Ranked EchoOne affiliates receive referral commissions down ten unilevel team levels:
- level 1 – 12%
- level 2 – 6%
- level 3 – 3%
- level 4 – 2%
- level 5 – 1%
- levels 6 to 10 – 0.5%
Rank Achievement Bonus
EchoOne rewards affiliates for qualifying at Rank 1 and higher with the following one-time bonuses:
- qualify at Rank 1 and receive $250
- qualify at Rank 2 and receive $500
- qualify at Rank 3 and receive $1000
- qualify at Rank 4 and receive $2000
- qualify at Rank 5 and receive $3000
- qualify at Rank 6 and receive $4000
- qualify at Rank 7 and receive $5000
- qualify at Rank 8 and receive $10,000
- qualify at Rank 9 and receive $50,000
- qualify at Rank 10 and receive $100,000
Joining EchoOne
EchoOne affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $100 investment.
EchoOne solicits investment in various cryptocurrencies.
EchoOne Conclusion
EchoOne represents it generates external revenue via a “team of seasoned cryptocurrency experts”.
We prioritize your financial success by sharing daily profits on business days, ranging from 0.70% to 1.80%, depending on our trading performance.
These claims fail the Ponzi logic test.
If EchoOne already has a team of “cryptocurrency expert traders” generating it up to 1.8% a day, what do they need your money for?
Furthermore, EchoOne’s passive returns investment opportunity constitutes a securities offering.
EchoOne fails to provide evidence it has registered with financial regulators in any jurisdiction.
This means that at a minimum, EchoOne is committing securities fraud.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve EchoOne of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 15th January 2023 – EchoOne has collapsed.
