Friday, 23 Aug 2019

WishMoney Review: A Legit Business or Another Ponzi Scam?

WishMoney Review: A Legit Business or Another Ponzi Scam? 1
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WishMoney is another new “cryptocurrency investment platform”. Although it has no information on its website about who owns and runs the business or a verified corporate address, it is believed to be based in Brazil.

According to investigations, WishMoney’s website (wishmoney.com) was first registered in 2006.

The domain registration was last updated with private details on May 14th, 2019.

A search on the WayBack Machine confirms that as of late 2018, the Wish Money domain was for sale. This may suggests that the current owner (s) took possession of the domain on or around May 2019.

Further research reveals Wish Money marketing material citing Jelson Becker as CEO of the company.

Wishmoney.com Jelson Becker ceo

Outside of Wish Money, Jelson Becker is a Pastor based in Brazil with a sizeable number of followers. He is the head of “school of prophetic activation” in Pernambuco, Brazil. (ativacaoprofetica.com.br). He is Also visible on Facebook, Instagram and Twitter

It is difficult to tell if Jelson Becker does have an MLM history prior to Wish Money.

Let’s review the WishMoney MLM opportunity in detail:


WishMoney’s Products


According to its website and Available resources, WishMoney has four products: Wish Games, Wish Premier, Wish Call and Wish Money. It is not really clear if any of the four is actually retailable products or services. With affiliates only able to make Money through the affiliate membership itself.


WishMoney’s Compensation Plan


According to the wishmoney compensation plan, affiliates invest funds on the promise of a 300% to 400% return on their investments. The 400% returns are subject to additional rank-based qualification criteria.

Returns are paid out daily in bitcoin at up to 2.1%, with affiliates able to invest in ten offered tiers:

  • Founder 1 – $50
  • Founder 2 – $100
  • Founder 3 – $250
  • Founder 4 – $525
  • Founder 5 – $1050
  • Founder 6 – $2100
  • Founder 7 – $5200
  • Founder 10 – $10,000
  • Founder 25 – $25,000
  • Founder 50 – $50,000


Wish Money Affiliate Ranks


There are ten affiliate ranks within Wish Money’s compensation plan. Along with their respective qualification criteria, they are as follows:

  • Mentor 1 – generate an accumulated 200 points in weaker binary team side volume
  • Mentor 2 – generate an accumulated 800 points in weaker binary team side volume
  • Mentor 3 – generate an accumulated 4000 points in weaker binary team side volume
  • Mentor 4 – generate an accumulated 10,000 points in weaker binary team side volume
  • Mentor 5 – generate an accumulated 40,000 points in weaker binary team side volume
  • Mentor 6 – generate an accumulated 100,000 points in weaker binary team side volume and recruit and maintain at least two Mentor 3 ranked affiliates (one on both sides of the binary team)
  • Mentor 7 – generate an accumulated 300,000 points in weaker binary team side volume and recruit and maintain at least two Mentor 4 ranked affiliates (one on both sides of the binary team)
  • Mentor 8 – generate an accumulated 600,000 points in weaker binary team side volume and recruit and maintain at least two Mentor 5 ranked affiliates (one on both sides of the binary team)
  • Mentor 9 – generate an accumulated 1,000,000 points in weaker binary team side volume and recruit and maintain at least two Mentor 6 ranked affiliates (one on both sides of the binary team)
  • Mentor 10 – generate an accumulated 2,000,000 points in weaker binary team side volume and recruit and maintain at least two Mentor 7 ranked affiliates (one on both sides of the binary team)

Recruitment Commissions


WishMoney affiliates are paid 7% of funds invested by personally recruited affiliates.


Residual Commissions


Wish Money 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):

WishMoney Review: A Legit Business or Another Ponzi Scam? 2

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.

Residual commissions are paid as a percentage of points generated via investment across the the binary team.

For the purpose of rank qualification, each Wish Money investment tier corresponds with a set number of points:

  • investment at the Founder 1 tier = 10 points
  • invest at the Founder 2 tier = 20 points
  • investment at the Founder 3 tier = 50 points
  • investment at the Founder 4 tier = 105 points
  • investment at the Founder 5 tier = 210 points
  • investment at the Founder 6 tier = 420 points
  • investment at the Founder 7 tier = 1040 points
  • investment at the Founder 10 tier = 2000 points
  • investment at the Founder 25 tier = 5000 points
  • investment at the Founder 50 tier = 10,000 points

At the end of each day WishMoney tallies up new investment volume on both sides of the binary team.

Affiliates are paid 10% of funds invested on their weaker binary team side.

Once paid out, volume is matched on the stronger binary team side and flushed.

Any leftover volume on the stronger binary team side is carried over into the following day.

Note that from Founder 10 and higher investment tiers cap payable residual commissions as follows:

  • Founder 10 investment tier affiliates can earn up to $8000 a day in residual commissions
  • Founder 25 investment tier affiliates can earn up to $17,500 a day in residual commissions
  • Founder 50 investment tier affiliates can earn up to $30,000 a day in residual commissions

Matching Bonus


WishMoney pays a 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):

WishMoney Review: A Legit Business or Another Ponzi Scam? 3

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.

WishMoney caps payable unilevel team levels at ten.

The Matching Bonus is a 5% match on residual commissions earned across these ten unilevel team levels.

How many levels a Wish Money affiliate earns the Matching Bonus on is determined by rank:

  • Mentor 1 ranked affiliates earn the Matching Bonus on one level (personally recruited affiliates)
  • Mentor 2 ranked affiliates earn the Matching Bonus on two levels
  • Mentor 3 ranked affiliates earn the Matching Bonus on three levels
  • Mentor 4 ranked affiliates earn the Matching Bonus on four levels
  • Mentor 5 ranked affiliates earn the Matching Bonus on five levels
  • Mentor 6 ranked affiliates earn the Matching Bonus on six levels
  • Mentor 7 ranked affiliates earn the Matching Bonus on seven levels
  • Mentor 8 ranked affiliates earn the Matching Bonus on eight levels
  • Mentor 9 ranked affiliates earn the Matching Bonus on nine levels
  • Mentor 10 ranked affiliates earn the Matching Bonus on ten levels

Rank Achievement Bonus


WishMoney rewards affiliates who qualify at the Mentor 6 and higher ranks with the following Rank Achievement Bonuses:

  • Qualify at Mentor 6 and receive a Wrist Watch
  • Qualify at Mentor 7 and receive an INTERNATIONAL TRIP 
  • Qualify at Mentor 8 and receive a Toyota Corolla car
  • Qualify at Mentor 9 and receive a Mercedes Benz luxury car
  • Qualify at Mentor 10 and receive a Lamborghini luxury car

Joining Wish Money


Joining the wishmoney program is free. You become a member by visiting the website www.wishmoney.com and creating an account. However, to benefit from the reward system, affiliates must make a $50 to $50,000 initial investment.

Once a 300% or 400% return has been generated, reinvestment is required in order to continue earning.


Conclusion


It will be difficult to conclude if Wishmoney is just another properly designed online crypto scam or indeed a Legit Crypto Business.

On the positive side, Jelson Becker (The Founder and CEO) is a popular preacher who is known and respected by people beyond his base in Brazil. He has a large following of people who believe he can not participate in a scam.

On the other hand, it is difficult to find any visible evidence of how Wishmoney actually make its money.


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