iCan2 Club Review: Vaaluta Coin (VLT) Ponzi points gambling
iCan2 Club provides no information on their website about who owns or runs the business.
Infact as I write this, the iCan2 Club website is nothing more than an affiliate login portal.
The iCan2 Club website domain (“ican2.club”) was registered on June 13th, 2018. All we get from the registration is that whoever owns iCan2 Club has provided a contact address in Norway.
With that in mind, the iCan2 Club Terms and Conditions state they are
governed by, construed and enforced in all respects in accordance with the laws of Hong Kong.
Note that the Hong Kong corporate address provided in iCan2 Club marketing material is that of a virtual office provider.
This suggests iCan2 Club has no actual physical presence in Hong Kong.
An iCan2 Club “leadership event” is currently scheduled for January 2019, so Thailand is another possibility.
One final bit of information I’ll include is the following from iCan2 Club’s official compensation material;
iCAN2 is the distribution and marketing entity of Agamas International Ltd.
The company was founded in mid 2018, with an operational service and support office in Kowloon, Hong Kong.
There are a few similar named companies but I was unable to find anything further on Agamas International specifically.
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.
iCan2 Club Products
iCan2 Club has no retailable products or services, with affiliates only able to market iCan2 Club affiliate membership itself.
The iCan2 Club Compensation Plan
iCan2 Club affiliates invest funds on the promise of a daily ROI for 365 days:
- iTrainee – no daily ROI
- iTeam – invest €1100 and receive a 0.1% daily ROI rate
- iPower – invest €3300 and receive a 0.25% daily ROI rate
- iGold – invest €5700 and receive a 0.25% daily ROI rate
- iDiamond – invest €16,000 and receive a 0.25% daily ROI rate
- iPlatinum – invest €27,000 and receive a 0.25% daily ROI rate
- iPresident – invest €100,000 and receive a 0.25% daily ROI rate
- iFounder – invest €250,000 and receive a 0.25% daily ROI rate
VLT Ponzi Points
Bundled with each iCan2 Club investment tier are Vaaluta Coin (VLT) Ponzi points:
- iTrainee (€300) – €200 worth of VLT
- iTeam (€1100) – €1000 worth of VLT
- iPower (€3300) – €3300 worth of VLT
- iGold (€5700) – €5700 worth of VLT
- iDiamond (€16,000) – €16,000 worth of VLT
- iPlatinum (€27,000) – €27,000 worth of VLT
- iPresident (€100,000) – €100,000 worth of VLT
- iFounder (€250,000) – €250,000 worth of VLT
VLT are pre-generated by iCan2 Club at little to no cost.
Note that the company does not provide the current exchange rate.
Once invested in, VLT points can be parked with iCan2 Club for an undisclosed monthly ROI (paid in VLT points).
iCan2 Club affiliates who invest at the iGold tier are given access to iTrade.
iCan2 Club promises passive returns through iTrade, supposedly through a cryptocurrency trading algorithm.
How much an iCan2 Club affiliate can invest into iTrade is determined by which tier they invest at:
- iGold affiliates can invest up to €5000
- iDamond affiliates can invest up to €32,000
- iPlatinum affiliates can invest up to €81,000
- iPresident affiliates can invest up to €400,000
- iFounder affiliates have no iTrade investment limit
iCan2 Club affiliates receive a commission when they recruit new affiliates who invest:
- iTrainee affiliates receive a 5% recruitment commission
- iTeam and higher affiliates receive a 10% recruitment commission
iCan2 Club pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
Each iCan2 Club investment tier corresponds with a set number of binary team points:
- iTrainee – 210 points
- iTeam – 700 points
- iPower – 2100 points
- iGold – 3990 points
- iDiamond – 11,200 points
- iPlatinum – 18,900 points
- iPresident – 70,000 points
- iFounder – 175,000 points
As affiliates are directly and indirectly recruited into a binary team, how much they invest generates the corresponding points on the side of the binary team they were placed in.
At the end of each day iCan2 Club tallies up new points on both sides of the binary team.
Residual commissions are paid as a percentage of points generated on the weaker binary side.
An iCan2 Club affiliate’s residual commission rate is determined by how much they’ve invested:
- iTrainee affiliates receive a 5% residual commission rate capped at €600 a week
- iTeam affiliates receive a 5% residual commission rate capped at €2000 a week
- iPower affiliates receive a 10% residual commission rate capped at €6000 a week
- iGold affiliates receive a 10% residual commission rate capped at €11,400 a week
- iDiamond affiliates receive a 10% residual commission rate capped at €32,000 a week
- iPlatinum affiliates receive a 10% residual commission rate capped at €54,000 a week
- iPresident affiliates receive a 15% residual commission rate capped at €100,000 a week
- iFounder affiliates receive a 15% residual commission rate capped at €250,000 a week
iWorld and iDream qualified affiliates receive a 20% residual commission rate (weekly capped amounts not provided).
For iWorld and iDream qualification criteria refer to the “Infinity Bonus” section below.
iCan2 Club pays a Matching Bonus on residual commissions earned by downline affiliates.
The Matching Bonus is paid 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.
The Matching Bonus is payable on up to five unilevel team levels, based on the following qualification criteria:
- recruit at least two affiliates who invest (1 on both sides of the binary team) and earn an accumulated €500 EUR in residual commissions = 10% Matching Bonus on level 1 (personally recruited affiliates)
- recruit at least four affiliates (2 on both sides of the binary team) and earn an accumulated €1500 EUR in residual commissions = 10% match on level 1 and 3% on level 2
- recruit at least eight affiliates (4 on both sides of the binary team) and earn an accumulated €5000 EUR in residual commissions = 10% match on level 1, 3% on level 2 and 2% on level 3
- recruit at least twelve affiliates (6 on both sides of the binary team) and earn an accumulated €15,000 EUR in residual commissions = 10% on level 1, 3% on level 2 and 2% on levels 3 and 4
- recruit at least twenty affiliates (10 on both sides of the binary team) and earn an accumulated €30,000 EUR in residual commissions = 10% on level 1, 3% on level 2 and 2% on levels 3 to 5
The Infinity Bonus allows iFounder and higher investment tier affiliates to earn an additional bonus percentage on binary team point volume.
- iFounder affiliates who have recruited at least forty affiliates (20 on both sides of the binary team) and have earned an accumulated €100,000 in residual commissions are paid a 1% Infinity Bonus
- iWorld affiliates who have recruited at least fifty affiliates (25 on both sides of the binary team) and have earned an accumulated €250,000 in residual commissions are paid a 2% Infinity Bonus
- iDream affiliates who have recruited at least seventy affiliates (35 on both sides of the binary team) and have earned an accumulated €500,000 in residual commissions are paid a 3% Infinity Bonus
Joining iCan2 Club
iCan2 Club affiliate membership is tied to a €350 to €200,000 EUR investment.
- iTrainee – €300
- iTeam – €1100
- iPower – €3300
- iGold – €5700
- iDiamond – €16,000
- iPlatinum – €27,000
- iPresident – €100,000
- iFounder – €250,000
The more an affiliate invests the higher their income potential via the iCan2 Club compensation plan.
Joining iCan2 Club
iCan2 Club presents itself as your typical MLM cryptocurrency scam. You’ve got a guaranteed ROI, altcoin to exit-scam through and no information about who’s running the show.
iCan2 Club claims to generate ROI revenue through use of a “unique crypto trading algorithm”.
Agamas International has entered into a partnership with a public and fully regulated bank, that specializes in crypto
Together with their licenced traders they have created a unique crypto strategy.
The algorithm is updated several times per day to optimize the profit for participants.
First the obvious; If the anonymous admin(s) had a unique trading strategy, they’d be quietly using it to become rich.
Why waste your attaching an MLM compensation plan to it and selling access to it for as little as €5700?
Naturally even if you take iCan2 Club’s claims at face value, which you definitely shouldn’t, the company provides no evidence of trading revenue being used to pay affiliate ROIs.
As it stands the only verifiable source of revenue entering iCan2 Club is new investment. The use of which to pay existing affiliates a daily ROI makes iCan2 Club a Ponzi scheme.
Vaaluta Coin is your typical MLM cryptocurrency altcoin exit-strategy.
VLT costs iCan2 Club little to nothing to generate. The company dumps pre-generated points on gullible investors.
VLT are not publicly tradeable and are thus completely worthless outside of iCan2 Club.
Yet despite this, iCan2 Club claims Vaaluta Coin is
backed by publicly traded equity in cooperation with our licensed traders and fully regulated banking partners.
Obviously iCan2 Club don’t disclose who their partners are (a regulated bank, lol!), because they don’t exist.
In addition to porky pies about working with regulated banks, iCan2 Club also plan to tie gambling schemes to Vaaluta Coin.
These include betting platforms and bitcoin penny auctions (bid for bitcoin).
With no regulatory registration or disclosures provided to the public and their investors, all of iCan2 Club’s plans for Vaaluta Coin are obviously illegal (unregistered securities, wire fraud, money laundering etc.).
So too is iCan Club’s daily ROI Ponzi scheme and pyramid recruitment commissions.
To summarize, the MLM altcoin exit-scam ruse goes like this:
Initially the altcoin is dumped on affiliates for whatever arbritary price the MLM company generating them comes up with.
This occurs through an internal exchange, through which affiliates can realize a ROI if they can find subsequent investors to dump their coins onto.
While all this is going on iCan2 Club are stashing the real money they’re receiving for VLT points.
When the time comes (recruitment dies and they can’t sustain ROI payments in real money), VLT gets listed on some dodgy public exchange.
iCan2 Club then wash themselves of the coin, leaving bagholder affiliates to scramble to sell their coins.
Once the most gullible of iCan2 Club affiliates run out of money to buy VLT points with, the price crashes to $0.
Of course by this stage iCan2 Club’s owners are long gone with invested funds.
Those already scammed and those who follow the MLM cryptocurrency niche have seen this scenario play out time and time again.
No matter what bullshit promises they might come up with, iCan2 Club isn’t going to play out and differently.