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.
Prior to My Crypto Consult Morant was promoting the collapsed Holiday Coin Club cycler and FGXpress.
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
Recruitment Commissions
My Crypto Consult affiliates receive 10% of funds invested by personally recruited affiliates.
Residual Commissions
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.
Matching Bonus
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.
Conclusion
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.
Go figure.
Wow! I am deeply impressed! A number with 13 zeros: 😮
share-your-photo.com/1760047166
There had to be a planning session that sounded something like this:
“The donkeys want to hear we have enough tokens. Donkeys love scams with lots and lots of tokens. MUST HAVE MOAR TOKENS!”
GLAM = Ponzi points. You just a press a key and now you have 250 trillion billion gajillion.
They literally materialize out of thin air.
Glamjet is acctually legit. I invested $4000 into them and now my GLAM tokens are worth $over 24 million USD!
When they go public I’ll be rich 🙂
Unless something miraculous happens – that’s never going to happen
Glamjets’ Alexa rating is rapidly approaching zero, having dropped from a world ranking of #511,668 90 days ago to #975,823 today.
What’s even more telling is the majority of fall in traffic has happened over the past 30 days – indicating nobody new is interested in joining
Sorry for your losses.
GlamJet keep you money in your pocket on this one. I invested over a year ago and was told the tokens would be on the open market by this time 2-23-2020 or before.
To date all we get is more extensions and NO solid answers if or when these will be traded.
Willi Morant is the sole owner as far as I can determine, he is or was also involved in FUTURE NET and BUTEZEE both failed MLM Scams.
Hi, my father has heavily invested into GlamJet and I would really like if you could forward me all the information you have so he doesnt go deeper in the hole… thanks
let me know if we can go into dm’s somewhere, specifically I have not found any information about “BUTEZEE” and “Future net” just has a vague website that doesnt really lead anywhere.
GlamJet Foundation is part of My Crypto Consult.
Everything on BehindMLM pertaining to My Crypto Consult is published here on this review.
Haven’t heard of Butezee but FutureNet is another Ponzi scheme well-documented here. Search bar is on the top right.
Was reading through the terms of service and saw that the business is located in Marshall Islands a tax heaven in the middle of the ocean.
Maybe we could trace Willi Morants friends to figure out who’s the big man who’s actually behind it. (I can provide proof just don’t know how)
Updated Feb. 23, 2021
Glamster Tokens/coins 500 Trillion
500,000,000,000,000 (500 Trillion Tokens)
X $ 00.20 (20 cents stated value USD)
= $ 100,000,000,000,000 (100 Trillion USD)
This exceeds all the available physical currency and monies held in accessible accounts in the world by almost 10,000,000,000,000. (10 Trillion USD)
How much US currency is in circulation?
There is a total of about $1.5 trillion in U.S. physical currency in circulation.
How many euros are in circulation?
In 2018, there were over 21 billion euro banknotes in circulation with a value of about EUR 1.1 trillion.
How much physical money is in the world?
When money is considered as the physical coins, bank notes, and the ones deposited in both checking and savings accounts; the total amount globally is approximately $36.8 trillion.
However, when this physical money includes the ones held in the accessible accounts, the amount rises to roughly $90.4 trillion.