World Cryptocurrency 101 (abbreviated as WCC101), provide no information on their website about who owns or runs the business.
Two addressed in Ontario are provided, one a condo in Mississauga and the other a skyscraper in Windsor.
The WCC101 website domain (“wcc101.com”) was registered on March 26th, 2018.
Scott Phounpadith is listed as the owner, through yet another address in Windsor, Ontario.
According to his LinkedIn profile, Phounpadith (right) works as an “Independent Software Developer” for the University of Windsor.
Phounpadith’s Intagram profile cites on of his interests as “crypto”, however I was unable to find any specific MLM history.
Thus it appears WCC101 is Phounpadith’s first MLM venture.
Read on for a full review of the World Cryptocurrency 101 MLM opportunity.
World Cryptocurrency 101 Products
WCC101 has no retailable products, with affiliates only able to market WCC101 affiliate membership itself.
The World Cryptocurrency 101 Compensation Plan
WCC101 affiliates sign up and are paid to recruit new affiliates.
To qualify for commissions, a WCC101 affiliate must sell three WCC101 affiliate memberships.
If a WCC101 affiliate signs up with a $477 membership, their purchase counts as one of the required three qualifying sales.
WCC101 pay recruitment 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 there is no limit to how deep a binary team can grow.
As per the WCC101 compensation plan;
You earn approximately $100 worth of Bitcoin for every Membership sale in the team side with fewer sales.
The target amount is $100 although it does vary slightly because the relationship between USD and BTC fluctuates.
WCC101 pay recruitment commissions daily.
Each affiliate is initially capped at $3000 in daily earnings. However this can be increased to $4500 by recruiting five affiliates on both sides of the binary team (ten in total).
A matching bonus on recruitment commissions is paid out down three levels of recruitment (unilevel):
The first level Matching Bonus of 20% (paid on personally recruited affiliates), requires having at least two personally recruited commission qualified affiliates in your binary team (one on each side).
To qualify for the second level 20% Matching Bonus, you must have four personally recruited commission qualified affiliates in your binary team (two on each side).
To qualify for the third level 10% Matching Bonus, you must have six personally recruited commission qualified affiliates in your binary team (three on each side).
Automated Trading Signals
WCC101 provide $477 affiliates with automated trading signals.
We provide real information, real results and all in advance before the jumps happen!
Not only do you get summaries and updates but notifications for entries and exits on manual trading signals that are completely automated!
Specifics aren’t provided. Similar MLM opportunities however typically involve handing control of a personal exchange account to a trading bot, which then trades on your behalf.
Through this automated trading WCC101 affiliates receive a passive ROI.
Joining World Cryptocurrency 101
Basic WCC101 affiliate membership is $97.
Full participation in the WCC101 income opportunity costs $477 every 6 months.
According to marketing copy on the WCC101 website, affiliates are able to
view and utilize automated trade signals generated from our proven, 5 year back-tested algorithms!
My problem with this is if WCC101’s trading algorithms were as successful as they’re touting them to be;
Whether you are new to crypto or a pro, we offer in-depth summaries and provide proven automated signals to further educate you and help to build your crypto wealth quickly and securely.
Why not just run the “algorithms” and make a ton of money? Why sell the golden goose to the public for $477 a pop?
I mean surely after five years of successful trading those using developing WCC101’s trading bot are among the richest cryptocurrency players on the planet, right?
The only name I was able to attach to WCC101 is Scott Phounpadith.
Phounpadith graduated with a Computer Science degree in 2016 and lists several programming skills on his AngelList profile;
C, C#, Graphical User Interface, HTML, Java, Management, Networking, Project Management, Python, Requirements Gathering, Science, Software, WEB, Web Development, Web Technologies.
That said whether Phounpadith is behind WCC101’s trading signals is unclear.
We do know he’s interested in cryptocurrency though, so barring an unnamed party – it would seem so.
Again, I’m not knocking the guy or his expertise. I’m just asking why this bot with a five-year proven history isn’t being run quietly – like you’d imagine anyone with a profit bot would do.
Taking a step back and analyzing the MLM side of the business, WCC101 has two tiers of affiliate membership.
Retail sales are not possible, owing to both memberships providing access to the MLM income opportunity.
Recruitment is the sole driver of commissions within WCC101’s compensation plan, which means the company is operating as a pyramid scheme.
Once affiliate recruitment dies down there’s nothing to pay out through the compensation plan.
A lack of disclosure regarding WCC101’s trading bot signals could also see the company fall foul of securities law (particularly in Canada and the US).
Not withstanding you’re looking at $477 in successful trades within 6 months just to break even on your investment. More if you want to actually derive a return.