Originally Syndicated on June 14, 2024 @ 7:00 am
WesFamer Crypto privately registered in June 2022 with website domain (“wesfamer-crypto.net”) and last updated on on June 1st, 2024, has been in spotlight for its Ponzi scheme. On their website, no specific information or ownership has been found.
Although WesFamer Crypto claims to be “a private company incorporated in Australia”, the Australian government’s website reveals that no company with the name WesFamer Crypto exists. WesFamer has put this claim only to appear legitimate.
If an MLM company conceals information about its owner or does not clearly mention who runs it, be wary of joining or investing in it.
Products by WesFamer Crypto’s
WesFamer Crypto provides no retailable products or services.
Affiliates can only market WesFamer Crypto affiliate membership.
WesFamer Crypto’s Compensation Plan
The WesFamer Crypto affiliates are promised these packages of returns for the investment they make:
- Wes Blue – invest $100 to $1000 and receive 3.5% in 24 hours
- Wes Crystal – invest $1000 to $6000 and receive 6% in 20 hours
- Wes Graph – invest $6000 to $30,000 and receive 9.95% in 18 hours
- Wes Golden – invest $30,000 to $50,000 and receive 15.05% in 36 hours
- Wes Bronzy – invest $15,000 to $50,000 and receive 12.5% in 7 days
- Wes Silver – invest $50,000 to $500,000 and receive 14.98% in 7 days
WesFamer Crypto pays referral commissions on invested funds through a unilevel compensation structure.
In this unilevel compensation structure, an affiliate is placed at the top of a unilevel team, with a personally recruited affiliate placed directly under them (level 1). When a level 1 affiliate recruits a new affiliates, he is promoted to level 2 of the original affiliate’s unilevel team. When the level 2 affiliates recruits a new affiliate, he is put on level 3. This process goes on to infinite levels.
However, the unilevel team levels at four are considered payable. A percentage of funds invested in these four levels are counted as referral commissions. The referral commission rates depends on how much a WesFamer Crypto affiliate invests:
- Wes Blue tier affiliates receive 5% on level 1 (personally recruited affiliates), 5% on level 2, 3% on level 3 and 1.5% on level 4
- Wes Crystal tier affiliates receive 6% on level 1, 5% on level 2, 3% on level 3 and 1.5% on level 4
- Wes Graph and Wes Golden tier affiliates receive 7% on level 1, 5% on level 2, 3% on level 3 and 1.5% on level 4
- Wes Bronzy tier affiliates receive 10% on level 1, 5% on level 2, 3% on level 3 and 1.5% on level 4
- Wes Silver tier affiliates receive 15% on level 1, 5% on level 2, 3% on level 3 and 1.5% on level 4
Joining WesFamer Crypto
WesFamer Crypto affiliate membership is free but full participation in the full income opportunity requires a minimum $100 investment. USD (Perfect Money) and various cryptocurrencies are accepted for investments.
Conclusion
AWesFamer Crypto sounds very similar to WesFarmers (note the “r”) which is a large Australian company. This could be the reason behind WesFamer Crypto pretending to be based out of Australia.
It generates external revenue through automated bot trading but no evidence of WesFamer Crypto generating external revenue of any kind has been found . In fact, WesFamer Crypto’s business model does not fit the Ponzi logic.
If WesFamer Crypto has a trading bot that generates 9.95% every 18 hours, what is their goal? Why would they offer people access for free?
The only verifiable source of revenue entering WesFamer Crypto is new investment. If new investment is used to pay ROI withdrawals, WesFamer Crypto would be considered using a Ponzi scheme.
ln all MLM Ponzi schemes, once an affiliate recruitment dries up, the new investment also suffers. This could block ROI revenue, finally making the company collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
