Crypto Wealth Review: CryptoWealth.com new Lyra Crypto Scam
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Crypto Wealth claims to introduce a new crypto coin – Lyra – that has a substantial value in the crypto industry. CryptoWealth.com does not provide any information about the founder of the company. However, the information about the domain indicates that the website was registered in August 2019 and run by Joe Jansen from South Africa.
The site asks people to exchange Lyra through vouchers of other cryptocurrencies, gold, and even traditional currencies. It tries to convince people to invest in the company by saying that Lyra tokens are useful in terms of providing indirect access to other crypto coins and currencies.
What is Crypto Wealth?
CryptoWealth.com describes the company as the inventor of a modern crypto coin named Lyra. It emphasizes the fact that Lyra is not just another coin. It describes it as a means of bringing a revolution in the crypto industry. The site claims that Lyra is the first crypto coin by Ascension Foundation Technology without any elaboration. It is supposed to have more security and rapid transaction speed than the Bitcoin. Moreover, users are asked to buy Lyra immediately before its prices start rising.
Once you start looking at the company’s investment and compensation plan, it becomes evident that the company is a pyramid gifting scheme. The only primary way of earning any sort of income is via gifting. Crypto Wealth also gives a detailed comparison between Lyra and Bitcoin to convince people to invest in this company.
Crypto Wealth’s Domain Insights
CryptoWealth.com does not have any product line. Moreover, it does not offer any kind of service. The only way of earning is via the affiliate membership of the company. Once you become the members of Crypto Wealth, you will have to gift Lyra to other affiliates to keep making some earnings.
Even though the site does not have any information about the owner of Crypto Wealth, I found that Joe Jansen is running the platform. There is no other information about the owner. He does not seem to have any social media profiles. It raises some serious concerns about the company because any company that hides the name and information about its owner usually turns out to be scams. Jansen does not seem to have any kind of history in the crypto industry.
Domain insights from Alexa show that the majority of the traffic on CryptoWealth.com is from South Africa (60%), Australia (11%), and India (6%). It shows that the website has a worldwide reach. Hence, it is vital to make it clear that it is a highly suspicious company.
Business Structure
The business structure of a gifting scheme like Crypto Wealth always results in the collapse of the company and make the affiliates lose a significant chunk of their investment. Lyra, which is marketed as the primary crypto coin of CryptoWealth.com, does not have any real value in the market. It is highly unlikely that it will ever become popular in the future because the organization will shut down due to its suspicious nature.
It does not have any source of income other than the investment of the affiliates. Hence, Crypto World is just trying to get money from people without revealing any future plans or its owner’s details. You should not trust a scam crypto coin company like CryptoWorld.com. Instead, learn about the authentic crypto trading bots that are much safer and efficient than the crypto companies. Such bots allow you to earn maximum profits and have minimal risk in investments. You can expect to earn real money via the crypto trading bots instead of investing in scam companies like Crypto World.
Income Structure of Crypto Wealth
The income plan of the Crypto Wealth makes it extremely obvious that the company is operating as a pyramid gifting scheme. The affiliates have to gift Lyra to each other via a 4×3 matrix. Whenever a member is able to recruit four people, they get a promotion to the top of the matrix. The first four positions develop the first level of the income matrix.
When the four positions of the first matrix are split into another four positions each, resulting in 16 total positions, it results in the development of the second level of the matrix. Moreover, the third matrix level is generated through a similar approach, and it contains 64 slots. In order to climb the ranks at CryptoWealth.com, the affiliates must sign up and gift at least 0.009 Lyra to the other members of the company.
Once a new affiliate has made the payment or gift exchange, he or she will be eligible to receive 0.009 Lyra from the other affiliates that they will recruit to develop their own matrix. Moreover, the affiliates also have the option of investing in FGXpress and APPI Travels, which are chain-recruitment travel companies.
Joining Procedure
You have to invest in gifting three 0.009 Lyra to the member who recruits you in Crypto Wealth. At the time of sign-up, you get the option of participating in FGXpress and APPI travels as well. However, that is completely optional, and you don’t have to spend any kind of money on becoming their members. The company use the name of APPI travels at many places as a way of attracting people towards investing in CryptoWealth.com
At its first glance, the compensation plan of Crypto Wealth may seem very appealing to the new users. However, it is a very poor plan that focuses on getting new investors without paying any kind of real compensation to the old affiliates. At the very best, you might be able to make some kind of income through gift exchanges. But it is very unlikely to happen. The business structure’s design shows that most of the money and Lyra will be going to the top managers and owners, while the members will get insignificant compensation.
Nevertheless, these partners are not a renowned name in the industry. In fact, it would not be wrong to say that they are also some shady organizations, just like Crypto Wealth.
Final Verdict About Crypto Wealth
Crypto Wealth is using Lyra just as a disguise to seem genuine and entice people to invest in the company. However, it is actually a pyramid gifting scheme that relies on affiliate memberships and members’ investment to survive. Such kind of business structure eventually collapses.
The company even states that the donation plan of the Lyra is meant to engage people from all over the world. It means they are trying to get as much money as possible before the company collapses. You should not waste your money in a pyramid gifting scheme like this one. It has very suspicious partnerships with other companies like FGXpress. Once recruitment at Crypto Wealth stops, the affiliates will have to suffer financial losses. Moreover, Lyra will become useless, as well.
There is no proof that Lyra will have any actual value in the near future. Moreover, the company’s gifting nature will result in its collapse because it does not have any external source of income. Therefore, you should not invest in Crypto Wealth. Instead, you should use crypto trading bots that allow you to make investments according to your own preferences and interests. Moreover, you can have control over your investment instead of being dependent on other companies like Crypto Wealth that often turns out to be scams.
