MyG21 Review: GCoin cashback points
There is no information on the MyG21 website indicating who owns or runs the business.
The MyG21 website domain (“myg21.com”) was registered on the 20th of September 2011. Pietro Rocca is listed as the owner of the domain, with an address in London, UK also provided.
Further research reveals this address actually belongs to Regus, who sell virtual office space.
This suggests that MyG21 exist in the UK in name only.
I wasn’t able to find any information Pietro Rocca in conjunction with MyG21. His role within the company is unclear.
Most of the promotional material available for MyG21 is in Italian. Alexa also estimates that 80% of traffic to the MyG21 website originates out of Italy.
This strongly suggests that whoever is running MyG21 is actually based out of Italy.
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.
The MyG21 Product Line
MyG21 doesn’t appear to have any products or services of its own.
The company instead runs an e-commerce portal they call “MyShop”.
Here you’ll find the stores that have joined our project and believe in the value of SHARING.
Find out who they are and where you can spend your Gcoins.
GCoins is an internal points system, which MyG21 use to pay their affiliates with. GCoins can also be used to purchase products through MyShop.
The MyG21 Compensation Plan
The MyG21 compensation plan pays affiliates in GCoins when they purchase products through MyG21’s e-commerce portal.
GCoins are also earned when recruited and other MyG21 affiliates make purchases.
MyG21 affiliates are able to convert GCoin payouts to cash after they’ve accumulated 50 GCoins.
MyG21 Affiliate Ranks
There are eight affiliate ranks within the MyG21 compensation plan.
Along with their respective qualification criteria, they are as follows:
- Sharer – purchase a product on the MyG21 e-commerce portal
- Smart Sharer – recruit one MyG21 affiliate and accumulate at least 10 Gcoins
- Privileged Sharer – personally accumulate at least 20 Gcoins and recruit at least three MyG21 affiliates who have accumulated at least 10 Gcoins each
- Privileged Sharer * – personally accumulate at least 50 Gcoins and recruit at least three MyG21 affiliates who have accumulated at least 20 Gcoins each
- Privileged Sharer ** – personally accumulate at least 100 Gcoins and recruit at least three MyG21 affiliates who have accumulated at least 50 Gcoins each
- Privileged Sharer *** – personally accumulate at least 150 Gcoins and recruit at least three MyG21 affiliates who have accumulated at least 100 Gcoins each
- Privileged Sharer **** – personally accumulate at least 200 Gcoins and recruit at least three MyG21 affiliates who have accumulated at least 150 Gcoins each
- Privileged Sharer ***** – personally accumulate at least 250 Gcoins and recruit at least three MyG21 affiliates who have accumulated at least 200 Gcoins each
Direct GCoin Accumulation
When a MyG21 affiliates purchases products on through the MyG21 e-commerce platform, they receive ‘50% of the value of GCoins attributed to the product or service purchased’.
If a MyG21 affiliate earns 10 GCoins via direct accumulation, the next month they receive a 100% bonus instead of the regular 50% direct GCoin rate.
Indirect GCoin Accumulation
MyG21 affiliates earn GCoins when personally recruited affiliates make purchases through the MyG21 e-commerce platform.
How much of a percentage of the associated GCoin value of products purchased is determined by an affiliate’s rank:
- Sharer – 5%
- Smart Sharer – 10%
- Privileged Sharer – 20%
- Privileged Sharer * -25%
- Privileged Sharer ** – 30%
- Privileged Sharer *** – 35%
- Privileged Sharer **** – 40%
- Privileged Sharer ***** – 50%
The above percentages are doubled if a MyG21 affiliate recruits three affiliates for that month.
Note that to qualify for Indirect GCoin Accumulation, a MyG21 affiliate must purchase products and/or services with a value of at least 5 GCoins each month.
Community Sharing sees MyG21 affiliates earn GCoins based on company-wide activity.
Each monh MyG21 sets aside 20% of all GCoins distributed to affiliates. This amount is then paid out equally to qualified MyG21 affiliates.
To qualify for Community Sharing, a MyG21 affiliate must be at the Privileged Sharer * or higher rank, be registered for “MyClubVIP” and have recruited at least one affiliate that month.
There is no information about MyClubVIP provided on the MyG21 website or in its compensation plan material.
Happy Birthday Bonus
MyG21 pay a 100% direct GCoin accumulation bonus on any purchases made on an affiliate’s birthday.
Affiliate membership with MyG21 is free, however affiliates must purchase at least one product through MyShop if they wish to earn commissions.
On the surface MyG21 seems legitimate enough. Commissions are generated via product and service purchases through an e-commerce platform.
Details on the platform are pretty vague and I believe you can’t actually access MyShop without signing up as a MyG21 affiliate.
The purchase of any product through MyShop qualifies you as a MyG21 affiliate, which in effect means there’s no retail activity going on.
MyG21 affiliates earn GCoins on their own purchases, as well as those of directly and indirectly recruited affiliates.
From a compliance standpoint this is a bit of a grey area, as funds tied to GCoin values appear to be sourced from third-party merchants (via cashback).
One potential hiccup is the MyClubVIP, which may or may not require payment of a fee.
If it does and those funds are used to bolster GCoin’s value, then that might satisfy the criteria for chain-recruitment.
As it stands, the MyG21 website is not consumer friendly. What little information is presented is vague, with MyG21 expecting people to sign up without a clear picture of what exactly MyG21 is and how it works.
This is counter-productive for an MLM opportunity, with MyG21 far better served with a less-flashy website that instead provides solid information about MyG21 (including who owns and runs it), MyShop and GCoins.
One big question mark is the value of GCoins. We know MyG21 affiliates can only cash out once they’ve accumulated 50 GCoins, but we have no way of gauging how easy or difficult that is.
What 50 GCoins translates into as far as a dollar payout goes is also a mystery. Ditto how much you have to spend on average to accumulate a GCoin.
These are key considerations yet information on them is impossible to find.
A few years ago this could have been written off as a gimmicky viral marketing attempt, but in 2016 it’s just not good enough.
I’d recommend avoiding the MyG21 opportunity until basic flaws with the company, its marketing and presentation have been rectified.