There is no information on the Crypto 888 Club website indicating who owns or runs the business.
The Crypto 888 Club website domain (“crypto888.club”) was registered on the 22nd of March 2015, with an “Aleksander Romanov” credited as the owner. An address in Malta is also provided.
Further research reveals Crypto 888 Club affiliates referring to Romanov (right) as the owner of the company itself. Why this information is not presented on the Crypto 888 Club website is a mystery.
Crypto 888 Club marketing presentations credit Romanov with owning “over 1000 betting shops and three casinos mainly in Eastern Europe”.
No further specifics are provided.
I wasn’t able to track down an MLM history for Romanov, so presumably Crypto 888 Club is his first MLM venture as an executive.
Read on for a full review of the Crypto 888 Club MLM business opportunity.
The Crypto 888 Club Product Line
Crypto 888 Club has no retailable products or services, with affiliates only able to market affiliate membership to the company itself.
Once signed up, affiliates can invest sums of up to €10,000 EUR and participate in the Crypto 888 Club income opportunity.
The Crypto 888 Club Compensation Plan
The Crypto 888 Club sees affiliates invest up to €10,000, collect a weekly ROI and get paid to recruit others who do the same.
Crypto 888 Club offers six investment packages as follows:
- Starter – €150
- Trainee – €550
- Basic – €1050
- Premium – €3050
- Pro – €5050
- VIP – €10,000
ROIs
When a Crypto 888 Club affiliate signs up and invests, their real world funds are converted into “digital chips”.
These digital chips hold no value outside of the Crypto 888 Club MLM opportunity.
Each week, Crypto 888 Club “pay” out weekly ROI based on the amount of digital chips an affiliate has.
How much of a ROI is paid out each week is determined by how much an affiliate initially invested:
- Starter – 20%
- Trainee – 30%
- Basic – 40%
- Premium – 50%
- Pro and VIP – 60%
At the end of the 26 week maturity period, Crypto 888 Club convert an affiliate’s digital chips into OctaCoins.
The value of OctaCoins is unknown.
Referral Commissions
Referral commissions are paid out on investments made by recruited affiliates, paid out down three levels of recruitment.
Note that additional qualification criteria applies as follows:
- level 1 – 5%
- level 2 – 3% (generate at least 6000 PV in sales volume)
- level 3 – 2% (generate at least 10,000 PV in sales volume)
PV stands for “Personal Volume” and is sales volume generated via personal investment and that of personally recruited affiliates.
How many points are generated depends on the amount of funds invested:
- Starter – 60 points
- Trainee – 350 points
- Basic – 800 points
- Premium – 2500 points
- Pro – 5000 points
- VIP – 6000 points
Binary Commissions
Residual commissions in Crypto 888 Club are paid out using 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):
Positions in the binary represented recruited affiliates who have invested in at least one package.
Volume is generated by these positions through affiliate investment. Points are generated as per the referral commissions outlined above.
At the end of each week, Crypto 888 Club tally up the points generated on either side of the binary for that week.
Commissions are paid out based on the volume generated on the weaker side, paying out 10% of the total.
Note that binary commissions are capped based on how much a Crypto 888 Club affiliate has personally invested:
- Starter – €1000 a week
- Trainee – €3000 a week
- Basic – €5000 a week
- Premium – €15,000 a week
- Pro – €30,000 a week
- VIP – €50,000 a week
Note that in order to qualify for binary commissions, a Crypto 888 Club affiliate must recruit at least two affiliates who have invested in at least one package each.
Binary Matching Bonus
A matching bonus is available on binary commissions earnt by recruited affiliates, paid out down three levels of recruitment.
As with the referral commissions, the following additional qualification criteria applies:
- level 1 – 5% (generate 2000 PV)
- level 2 – 10% (generate 10,000 PV)
- level 3 – 15% (generate 20,000 PV)
Mandatory Reinvestment
Note that an Crypto 888 Club affiliate is only paid 60% of any commissions earned.
40% of the funds paid out are withheld by the company and must be put towards investment in additional packages.
Joining Crypto 888 Club
Affiliate membership with Crypto 888 Club is free, however affiliates must invest in at least one package in order to participate in the income opportunity:
- Starter – €150
- Trainee – €550
- Basic – €1050
- Premium – €3050
- Pro – €5050
- VIP – €10,000
The primary difference between these amounts is income potential through the Crypto 888 Club compensation plan.
Note that VIP affiliates are additionally awarded 1000 OctaCoins and shares in an online casino.
Specific details regarding the casino were not available at the time of publication.
Conclusion
Under the guise of paying out a purported 80% of profits generated via sports betting, Crypto 888 Club operate a recruitment-driven pyramid scheme tacked onto a dangerous cryptocurrency model.
The pyramid scheme of the business is pretty straight forward, with affiliates paid a commission to when recruited affiliates invest.
How much is paid out directly correlates to how much is invested by the newly recruited affiliates, as well as how much the affiliate themselves invested when they signed up.
In this sense Crypto 888 Club has a “pay to play” element to its compensation plan, with the more invested resulting in higher commission payouts.
On the backend of Crypto 888 Club you have this whole OctaCoin thing.
Real money is invested by affiliates, converted into Ponzi points (digital chips), which are then subsequently converted into a cryptocurrency nobody really knows anything about.
Quite obviously OctaCoin is being run by the same people behind Crytpo 888 Club (the 8s sort of give it away), with a whole bunch of coins preallocated to Aleksander Romanov and his buddies.
The value of OctaCoin is going to be artificially determined by the amount of funds coming from affiliates, calculated after binary, referral and matching commissions are paid out.
What with 24 weeks of monopoly money compounding investment, don’t expect OctaCoin to be worth much anytime soon.
Especially considering the coin is absolutely worthless to anyone outside of the Crypto 888 Club opportunity. Any merchants who do accept the coin are going to be Crypto 888 Club affiliates themselves, looking only to further increase their share of OctaCoins.
The beauty of the cryptocurrency Ponzi model is that Romanov can encourage affiliates to keep their funds trapped in the system, by promising that an exponential growth phase for OctaCoin is just around the corner.
Real money flows in, some is paid out via the binary, matching and referral commissions, and the rest dumped into a bank account.
Everyone is encouraged to retain their OctaCoins, in the fear that they might wake up tomorrow and see the value has skyrocketed.
That of course never happens, with Romanov and top investors quietly withdrawing deposited funds.
Then, when people start to wake up and cash in their coins, everyone finds out there’s no funds left and the scheme collapses.
Thanks to BehindMLM for this original content that was posted in link below...
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Adrian Hibbert
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