Exchange Wallet operates in the cryptocurrency MLM niche.

The company provides what appears to be a virtual address in Slovenia on its website.

Heading up Exchange Wallet is CEO Christian Kurt Singer.

Christian Kurt Singer’s name only appears on the internet on Exchange Wallet’s website.

Singer (right) doesn’t have a digital footprint, meaning his corporate and business background are unknown.

This is a major red flag suggesting Singer doesn’t exist, or might be using a pseudonym.

Either way the head of an MLM company being an unknown with no verifiable past raises questions.

Of note is Exchange Wallet’s website defaulting to German. Exchange Wallet’s website domain was also registered using an incomplete address in Carinthia, Austria.

This suggests that Exchange Wallet is being run out of Austria. Any ties to neighboring Slovenia appear superficial.

Read on for a full review of Exchange Wallet’s MLM opportunity.

Exchange Wallet’s Products

Exchange Wallet has no retailable products or services, with affiliates only able to market Exchange Wallet affiliate membership itself.

Exchange Wallet’s Compensation Plan

Exchange Wallet affiliates invest in EXW tokens on the promise of an advertised 0.1% to 0.32% daily ROI.

Exchange Wallet pays daily returns in EXW tokens.

Exchange Wallet Affiliate Ranks

There are ten affiliate ranks within Exchange Wallet’s compensation plan.

Along with their respective qualification criteria, they are as follows:

  • Basic – recruit one affiliate
  • Starter – recruit two affiliates
  • Builder – recruit three affiliates
  • Pro Builder – recruit six affiliates
  • Expert Builder – recruit eight affiliates
  • Ambassador – recruit ten affiliates
  • Grand Ambassador – recruit twelve affiliates
  • Diamond – recruit fourteen affiliates
  • Diamond Ambassador – recruit sixteen affiliates
  • World Elite – recruit twenty affiliates

Referral Commissions

Exchange Wallet pays referral commissions out 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.

Exchange Wallet caps referral commissions down ten levels of recruitment.

  • level 1 – 50%
  • levels 2 and 3 – 20%
  • level 4 – 10%
  • levels 5 to 7 – 5%
    levels 8 and 9 – 2%
  • level 10 – 1%

How many levels an Exchange Wallet affiliate earns referral commissions on is determined by rank:

  • Basic ranked affiliates earn on level 1
  • Starter ranked affiliates earn on levels 1 and 2
  • Builder ranked affiliates earn on levels 1 to 3
  • Pro Builder ranked affiliates earn on levels 1 to 4
  • Expert Builder ranked affiliates earn on levels 1 to 5
  • Ambassador ranked affiliates earn on levels 1 to 6
  • Grand Ambassador ranked affiliates earn on levels 1 to 7
  • Diamond ranked affiliates earn on levels 1 to 8
  • Diamond Ambassador ranked affiliates earn on levels 1 to 9
  • World Elite ranked affiliates earn on levels 1 to 10

Joining Exchange Wallet

Exchange Wallet affiliate membership is tied to investment in EXW tokens.

Exchange Wallet don’t specify a minimum investment amount or the current internal EXW value on their website.


Exchange Wallet is yet another MLM crypto app Ponzi scheme.

EXW Token is an ERC-20 token, which takes all of five minutes to set up.

The Ponzi element of Exchange Wallet is the same as any other MLM app wallet scheme.

EXW tokens are generated on demand by Exchange Wallet, and then sold to gullible affiliates on the promise of daily returns.

EXW tokens themselves have no value outside of Exchange Wallet. What value they hold inside Exchange Wallet is arbitrarily set by the company itself.

Once their initial investment is out of the way, Exchange Wallet affiliates acquire more EXW tokens via recruitment and the daily return.

By acquiring more tokens affiliates can eventually cash out more than their initial investment via Exchange Wallet’s internal exchange.

Exchange Wallet represent they generate external revenue via cryptocurrency arbitrage.

There is no evidence of this taking place, or any fund derived from arbitrage or any other external source of revenue being used to pay affiliates.

Furthermore Exchange Wallet is quite clearly offering a passive investment opportunity.

This requires it to register itself with securities regulators in every jurisdiction it solicits investment in.

Exchange Wallet provides no indication on its website that it has done so.

Having failed to register its passive investment opportunity with financial regulators, Exchange Wallet at a minimum is committing securities fraud.

In true Ponzi pyramid fashion, Exchange Wallet affiliates who invest early and/or recruit the most will withdraw the majority of invested funds.

When withdrawals exceed the rate of new investment, Exchange Wallet will collapse.

The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.


Update October 1st 2020 – It appears that Exchange Wallet collapsed on or around August 2020. The scheme was rebooted as Exchange World on August 26th.

Founders named on Exchange World’s website are Manuel Batista, Benjamin Herzog and Pirmin Troger.

As far as I can tell Exchange World is just the Exchange Wallet Ponzi scheme with added fluff.


Update 30th September 2023 – Benjamin Herzog and seven other suspects have been indicted and criminally charged in Austria.