EcomCash Review: VIP-tiered ICO lending Ponzi
EcomCash provide no information on their website about who owns or runs the business.
The EcomCash website domain (“ecomcash.io”) was privately registered on November 26th, 2017.
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.
EcomCash has no retailable products or services, with affiliates only able to market EcomCash affiliate membership itself.
The EcomCash Compensation Plan
EcomCash affiliates invest in pre-generated ECIO points.
These points are then “lent” back to EcomCash on the promise of a daily ROI.
- invest $500 to $4999 and receive a 40% monthly ROI for 201 days
- invest $5000 to $9999 and receive a 43% monthly ROI for 151 days
- invest $10,000 to $49,999 and receive a 45% monthly ROI for 101 days
- invest $50,000 to $100,000 and receive a 50% monthly ROI for 61 days
EcomCash pay referral commissions on funds invested 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.
EcomCash cap payable unilevel levels at five, with how many levels an affiliate is paid on determined by how much in VIP fees they paid:
- no VIP fees paid – 5% on level 1 (personally recruited affiliates)
- VIP 1 (0.1 ETH) – 9% on level 1
- VIP 2 (0.2 ETH) – 9% on level 1 and 3% on level 2
- VIP 3 (0.3 ETH) – 9% on level 1, 3% on level 2 and 2% on level 3
- VIP 4 (0.5 ETH) – 9% on level 1, 3% on level 2, 2% on level 3 and 1% on level 4
- VIP 5 (1 ETH) – 9% on level 1, 3% on level 2, 2% on level 3, 1% on level 4 and 0.5 % on level 5
VIP Fee Commissions
VIP fees paid by EcomCash affiliates are used to pay commissions using the same unilevel team structure for referral commissions.
- VIP 1 affiliates receive 70% of VIP fees paid by personally recruited affiliates (level 1)
- VIP 2 affiliates receive 70% on levels 1 and 2
- VIP 3 affiliates receive 70% on levels 1 to 3
- VIP 4 affiliates receive 70% on levels 1 to 4
- VIP 5 affiliates receive 70% on levels 1 to 5
EcomCash affiliate membership is tied to payment of VIP membership in ethereum:
- free affiliates – no cost but also no MLM commissions
- VIP 1 – 0.1 ETH
- VIP 2 – 0.2 ETH
- VIP 3 – 0.3 ETH
- VIP 4 – 0.4 ETH
- VIP 5 – 0.5 ETH
Full participation in the EcomCash income opportunity also requires a minimum $500 investment.
EcomCash claim their ECIO points use “blockchain technology for global e-commerce billing.”
Like Bitcoin, ECOMCASH is based on the Ethereum – ERC20 platform, ensuring secure transactions, anonymous payments, and fast access.
ECOMCASH is used for payment transactions in the global e-Commerce instead of cash, e-wallets, credit cards, and other payment types.
Those familiar with cryptocurrency will immediately spot EcomCash’s claim that bitcoin is based on the ethereum platform.
Unfortunately with the advent of out-of-the-box ICO scripts, everyone in the MLM underbelly is now a “cryptocurrency expert”.
Meanwhile there’s no evidence of EcomCash’s payment platform, let alone any merchants willing to accept it.
All we have is yet another ICO lending Ponzi scheme, wherein EcomCash’s anonymous admins offload premined points for 50 cents to $1.50 each.
The points are projected to rise in value based on nothing, with the company running a lending Ponzi scheme on the side.
The highest return per month is 50% of your investment.
A fixed return per month will help you to have great fixed profit – not estimated.
The VIP tiered commission rates are a new addition, albeit nothing more than pyramid “pay to play” combined with the lending Ponzi model.
The end-game for admins of lending Ponzi scams is pretty straight forward:
ROIs are paid out through the internal exchange until affiliate recruitment inevitably slows down and invested funds run low.
At that point the anonymous EcomCash admins stop paying out and disappear with what’s left.
Early EcomCash investors make a bit through ROI withdrawals while they last, and of course through pyramid recruitment. The vast majority of investors however (everyone else), lose their money.