My Trader Coin Review: $550 a day cryptocurrency trading ROI?
My Trader Coin provide no information on their website about who owns or runs the business.
At the time of publication Alexa estimate that the top five sources of traffic to the My Trader Coin website are Ecuador (25%), Brazil (19%), Spain (15%), the US (14%) and the Dominican Republic (11%).
This corresponds with English, Spanish and Portuguese being offered languages for the My Trader Coin website.
It is highly likely that whoever is running My Trader Coin is based out of South America, the US or Spain.
Further research reveals André Feitosa being credited as a “top leader” in My Trader Coin.
Feitosa is/was good buddies with Sann Rodrigues and has been scamming people as far back as the iFreeX Ponzi scheme (early 2015).
Whether Feitosa was also a TelexFree Ponzi investor is unclear.
Last year Feitosa was promoting Bit Trader Banking. Having reviewed My Trader Coin’s business model in retrospect, both companies share identical compensation plans.
Alexa statistics suggest Bit Trader Banking recruitment flatlined in February, 2017. My Trader Coin was launched in March and by all appearances is a reboot.
André Feitosa being at the top of both schemes suggests he’s either running it or in with those that are (not unlike Sann Rodrigues running iFreeX but claiming he was only an affiliate).
Read on for a full review of the My Trader Coin MLM opportunity.
My Trader Coin Products
My Trader Coin has no retailable products or services, with affiliates only able to market My Trader Coin affiliate membership itself.
My Trader Coin affiliate membership provides access to “AliveApp”, a mobile-based social network. There’s also mention of a “LifeCoin” cryptocurrency on the My Trader Coin website, however the provided website doesn’t work.
In any event, neither AliveApp or LifeCoin has anything to do with My Trader Coin’s MLM opportunity.
The My Trader Coin Compensation Plan
My Trader Coin affiliates invest $100 to $50,000 on the promise of a ROI paid out over 300 days.
- Plan 100 – invest $100 and receive a $300 ROI ($1 a day)
- Plan 500 – invest $500 and receive a $1800 ROI ($6 a day)
- Plan 1K – invest $1000 and receive a $3600 ROI ($12 a day)
- Plan 5K – invest $5000 and receive a $16,800 ROI ($56 a day)
- Plan 10K – invest $10,000 and receive a $33,600 ROI ($112 a day)
- Plan 50K – invest $50,000 and receive a $165,000 ROI ($550 a day)
A 20% referral commission is paid on funds invested by personally recruited affiliates.
All My Trader Coin commissions are slugged with a 10% fee and payable only in bitcoin.
My Trader Coin pay 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 that there is no limit to how deep a binary team can grow.
Each My Trader Coin affiliate membership package corresponds to a set number of points:
- Plan 100 – 50 points
- Plan 500 – 250 points
- Plan 1K – 500 points
- Plan 5K – 2500 points
- Plan 10K – 5000 points
- Plan 50K – 25,000 points
At the end of each day My Trader Coin tally up generated points on both sides of the binary team.
Affiliates are paid a percentage of points generated on their weaker binary side, with leftover volume on the stronger side carried over.
How much of a percentage a My Trader Coin affiliate is paid is determined by how much they have personally invested:
- Plan 100 – 10% commission (capped at $300 a day)
- Plan 500 – 11% commission (capped at $1000 a day)
- Plan 1K – 12% commission (capped at $10,000 a day)
- Plan 5K – 14% commission (capped at $15,000 a day)
- Plan 10K – 16% commission (capped at $20,000 a day)
- Plan 50K – 20% commission (capped at $30,000 a day)
Note residual commission qualification requires a My Trader Coin affiliate to personally recruit at least two affiliates who each invest.
The Matching Bonus is a percentage commission paid out on the residual commission earnings of downline affiliates.
My Trader Coin pay the Matching Bonus 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 Trader Coin cap payable unilevel levels at five, with percentage commissions paid out as follows:
- level 1 (personally recruited affiliates) – 20%
- levels 2 to 5 – 5%
My Trader Coin reward affiliates with the following bonus, subject to how many accumulated points they’ve generated in their weaker binary side.
- Sub Manager – generate 25,000 points and receive a “sea cruise for two”
- Manager – generate 50,000 points and receive a “trip to Dubai”
- Director – generate 200,000 points and receive a Honda Civic car
- Executive Director – generate 500,000 points and receive a MV Agusta F4 CC motorcycle
- Superintendent – generate 1,000,000 points and receive a Range Rover Evoque SUV
- Vice President – generate 3,000,000 points and receive a “fully furnished apartment”
- President – generate 5,000,000 points and receive a McLaren P1 car
Joining My Trader Coin
My Trader Coin affiliate membership is attached to an investment of between $100 and $50,000.
- Plan 100 – $100
- Plan 500 – $500
- Plan 1K – $1000
- Plan 5K – $5000
- Plan 10K – $10,000
- Plan 50K – $50,000
The ruse behind My Trader Coin’s daily ROI payout is the clichéd promise of cryptocurrency trading.
Our unique investment system analyzes the best opportunities in the market, offering highly profitable investments to our affiliates.
No proof of cryptocurrency trading is provided, much the less how it translates into the daily ROI paid to My Trader Coin affiliates.
Leave alone the fact that cryptocurrency trading does not pay a consistent daily ROI, as advertised on the My Trader Coin website.
Furthermore, My Trader Coin’s ruse does not pass the Ponzi logic test.
My Trader Coin promise affiliates a daily ROI of up to $550 a day. If anonymous admin running My Trader Coin was able to legitimately generate such a ROI ($270,500 annually), why would they be wasting time soliciting funds from affiliates?
In reality all My Trader Coin are doing is shuffling newly invested funds around to pay off existing investors, making it a Ponzi scheme.
The AliveApp and LifeCoin components serve only as smoke and mirrors, with both having nothing to do with the My Trader Coin MLM opportunity.
As with all Ponzi schemes, once affiliate recruitment dies down so too will new funds entering the system. This will see My Trader Coin unable to meet its advertised ROI obligations, prompting a collapse.
Mathematics guarantees that when a Ponzi scheme collapses, the majority of investors lose money.
Update 20th August 2018 – My Trader Coin collapsed approximately six month after launch.
Andre Feitosa resurfaced earlier this year with a new scam, FreeMoney Club.
Following FreeMoney Club’s collapse, a few days ago Feitosa was arrested by authorities in the Dominican Republic.