My Crypto Consult Review: Glam Ponzi points investment fraud
My Crypto Consult’s website contains no information about who owns or runs the business.
My Crypto Consult’s website domain (“mycryptoconsult.io”) was first registered in June 2018.
The domain registration was last updated with private information on June 6th, 2019.
The only executive information I was able to dig up was Willi Morant, who credits himself as “Project Development”:
According to his personal Facebook page, Morant got involved with My Crypto Consult in late 2018.
Of note is My Crypto Consult may have ties to FutureNet:
As above, earlier this year FutureNet affiliates were pitching integration of FutureNet’s failed FuturoCoin Ponzi exit-scam coin.
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.
My Crypto Consult’s Products
My Crypto Consult has no retailable products or services, with affiliates only able to market My Crypto Consult affiliate membership itself.
My Crypto Consult’s Compensation Plan
My Crypto Consult affiliates invest in GLAM tokens on the representation the tokens will increase in value.
- QuickStarter – invest in 1000 GLAM tokens (300% token bonus)
- Leverage Pack – invest in 9,950 GLAM tokens (300% token bonus)
- 7PayMaxx All-In-One – invest in 29,500 GLAM tokens (325% token bonus)
- VIP and Elite – invest in 10,000,000 GLAM tokens
Each investment tiers caps how many GLAM tokens an affiliate can have:
- QuickSilver tier affiliates can accumulate up to 44,000 GLAM tokens, commissions also capped at $2000
- Leverage Pack tier affiliates can accumulate up to 6,500,000 GLAM tokens, 6 month membership
- 7PayMaxx All-In-One tier affiliates can accumulate up to 22,000,000 GLAM tokens, 12 month membership
- VIP and Elite tier affiliates can accumulate up to 7,500,000,000 GLAM tokens
My Crypto Consult affiliates receive 10% of funds invested by personally recruited affiliates.
My Crypto Consult 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.
After an unspecified amount of time (typically daily or weekly), My Crypto Consult tallies up new investment volume on both sides of the binary team.
Residual commissions are paid as a percentage of funds invested on the weaker binary team side.
My Crypto Consult’s compensation plan states either 5% or 10% is paid out, based on how much an affiliate themselves invests.
Once invested volume is paid out on, it is matched with volume on the stronger binary team side and flushed.
My Crypto Consult pays a Matching Bonus on downline residual commissions.
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.
My Crypto Consult caps the Matching Bonus at ten levels.
How many levels an affiliate can earn the Matching Bonus on is determined by their personal recruitment efforts:
- recruit two affiliates and receive a 5% match on levels 1 and 2
- recruit three affiliates and receive a 5% match on levels 1 to 3
- recruit four affiliates and receive a 5% match on level 1 to 4
- recruit five affiliates and receive a 5% match on levels 1 to 5
- recruit six affiliates and receive a 5% match on levels 1 to 6
- recruit seven affiliates and receive a 5% match on levels 1 to 7
- recruit eight affiliates and receive a 5% match on levels 1 to 8
- recruit nine affiliates and receive a 5% match on levels 1 to 9
- recruit ten affiliates and receive a 5% match on levels 1 to 10
A 10% GLAM token bonus is also paid out.
Holiday and Car Bonus
My Crypto Consult markets a Holiday & Car Bonus in their compensation plan.
As above, the bonus is a tie in with Holiday Coin Club.
Considering Holiday Coin Club has collapsed, how the Holiday and Car Bonus works is unclear (details are not provided).
Joining My Crypto Consult
My Crypto Consult is tied to an investment in GLAM tokens.
Depending on how much is invested, My Crypto Consult affiliates have to reinvest every 6 or 12 months.
According to My Crypto Consult’s website, the current internal value of GLAM tokens is 12 cents.
My Crypto Consult is yet another MLM pump and dump shitcoin opportunity.
GLAM tokens are generated on demand, sold for a completely made up price, and the only people investing in them are those lead to believe they’ll magically go up in price.
There is absolutely nothing backing GLAM tokens made up internal value, other than the fiction there will always be more gullible bagholders to purchase them.
In reality all that’s happening is the anonymous GlamJet Foundation owners are selling GLAM tokens that cost them nothing to generate to My Crypto Consult affiliates.
That’s the only real flow of money, the rest is monopoly money shenanigans.
What’s telling is GlamJet Foundation and their Glam tokens have been around for a while. Yet despite that, GLAM is still nothing more than a pump and dump shitcoin.
As for GlamJet Foundation, it markets itself as a “dApp platform”:
Dapps, as far as income opportunities go, are nothing more than Ponzi schemes.
The good news is My Crypto Consults’ end-game is as simple as their fraudulent business model.
Once Willi Morant and whoever he’s working with get bored, GLAM will likely be dumped on a dodgy public exchange.
Desperate trading among My Crypto Consult affiliates will push GLAM’s made-up value towards it’s actual $0 value, and that’ll be that. Another shitcoin in the MLM crypto token graveyard.
For his part, Willi Morant demonstrates some level of self-awareness:
My Crypto Consult itself also appears self-aware of its fraudulent business model:
The purchase of GLAM tokens shall be prohibited for participants established in any of the following countries: China, Singapore and the Unites States of America.
Cryptocurrency and even cryptocurrency investment opportunities aren’t illegal in the US. Provided of course you register with the SEC, have an external source of revenue, and file documents proving as much.
Scams like My Crypto Consult fear being targeted for securities fraud however, and so you have the US excluded.
Other jurisdictions where My Crypto Consult’s admins feel they’re unlikely to be pursued? Scam on.
Funnily enough despite prohibiting investment from the US, My Crypto Consult’s compensation plan quotes investment in USD.