Over the past decade, cryptocurrency has grown to become a very popular industry.
That’s because of the potential it has when it comes to revolutionizing our banking industry on a global level.
And even though it’s a speculative investment, many people believe in it’s potential, thus the demand to create business around it.
One business in particular is IQuandex. An MLM company that markets cryptocurrency investments.
Obviously you're interested in it or you wouldn’t be here today. But you’re wondering if this company is a scam or not.
Well in this review, I will be going over everything you need to know about them.
Things like background information, cost to join, and how much compensation you could potentially receive for bringing people into the business.
After you’re done reading this review, you will have more confidence in deciding if this business is right for you or not.
IQuandex Review Summary
Product Name: IQuandex
Founder: Denis Derkach
Price type: Cryptocurrency MLM
Price: $25 to $5000 investment
Best For: No one
Summary: iQuandex is another cryptocurrency MLM that happens to be nothing but a pyramid scheme. The goal of this business is to recruit and nothing more. This is considered illegal since this is the only way to earn income. I would not recommend anyone join this company.
What Is iOquandex?
Like I stated earlier, iQuandex is just another cryptocurrency investment MLM company.
But what it really looks to be is another pyramid scheme disguised as a legit business.
Even when you go to their website, there isn’t any information to learn about the company.
All you find is a landing page asking you to login or register a new account.
They also have a button below that directs you to their youtube account where most if not all the videos are in russian.
So if you’re expecting to learn who they are from their site, good luck.
But lucky for you I’ve done the research and will share with you everything I know about them.
When it comes to who owns iQuandex, this part is a little unknown.
The domain of the site was registered back in March 2020 by Abrarot Rinat Fanozovich, but there’s not a lot of info on him.
I even tried a google search and nothing really came up.
So my guess is the person who owns the company is using an alias, or maybe doesn’t even exist at all.
Either way, this brings up a huge red flag. However, I was able to find another person who may have some relation to the company.
Denis Derkach who is known as an “international cryptoexpert,” looks like he is from Russia, but lives in California.
He has been able to accumulate a few hundred thousand dollars with a sizable initial investment.
There isn’t too much info on him other than some profile he has on facebook, but I doubt it’s really him.
The reason iQuandex is a pyramid scheme is because it has no products to sell.
The goal is to recruit, which is considered illegal in pretty much all countries around the world.
Does It Work?
Because iQuandex operates in the cryptocurrency niche, they claim they have a trading bot that is automated to help with your investments.
If you’re a member, they will have you sign up for the bot.
Therefore the people who recruited these new members will get paid, and then teach them how to recruit others to do the same.
Other than recruiting, I haven’t seen any other methods in which people can earn an income.
And because they are offering passive ROI through their autobot system, this could mean they are operating in securities.
Now in order to do this, they must be registered with financial regulators.
But as you can see, we’re not even sure if they are even a real company.
How to Make Money With IQuandex
When it comes to MLMs, there are usually two ways in which you can make money:
- Selling products the company offers
- Recruiting others into the business
As I stated earlier, iQuandex only offers recruitment, thus making them a pyramid scheme.
Getting Started With IQuandex
The crazy thing about this company is the fact that you have to invest anywhere between $25 and $5000 to take part in their income opportunity program.
Once you’ve done that, you have to then continue paying another membership fee or reinvest to continue into the program.
The way iQuandex compensation plan works, you have to pay a membership fee to determine how much you can earn.
Below you will find the advertised returns determined by their IQ Bot:
- Spend $25 to be able to invest $250 to $1500 on the promise of a 110% ROI
- Spend $250 to be able to invest $250 to $1500 on the promise of a 150% ROI
- Spend $750 to be able to invest $200 to $5500 on the promise of a 150% ROI
- Spend $1500 to be able to invest $7500 to $15,000 on the promise of a 150% ROI
- Spend $5000 to be able to invest $20,000 to $60,000 on the promise of a 160% ROI
The only one that is available to new members and can only be used once, is the first option.
There are no fixed term for investing in iQuandex.
IQuandex’s Affiliate Ranks
Your rank will determine what commission amount you will receive with iQuandex.
There are 10 member ranks within the compensation plan:
- Bronze - generate $1000 in downline investment volume
- Silver - generate $3000 in downline investment volume
- Gold - generate $10,000 in downline investment volume
- 1 Star - generate $30,000 in downline investment volume
- 2 stars - generate $80,000 in downline investment volume
- 3 Stars - generate $240,000 in downline investment volume
- Diamond - generate $720,000 in downline investment volume
- Red Diamond - generate $2,180,000 in downline investment volume
- Blue Diamond - generate $6,500,000 in downline investment volume
- Grand Blue Diamond - generate $20,000,000 in downline investment volume
You also receive a commission if you’re able to recruit new members into the business.
But the amount you get is based on how much the recruited member pays out in membership fees:
- Pay $25 or $250 in membership fees and get 8% on recruited affiliates
- Pay $750 or $1500 in membership fees and get 10% on recruited affiliates
- Pay $5000 in membership fees and get 12% on recruited affiliates
And if a new member is able to recruit two new members and they pay at least $250 within 72 hours, you get a $100 recruitment bonus.
Residual Binary Commissions
Not only do you receive a commission when you recruit new members to your team, but you also receive commissions for what your members pay as well.
This is a binary compensation structure where members of your team are placed on the left and right leg of your team.
And those under you will also have members placed on the left and right leg of their team as well. Each leg that is able to recruit will also earn you a commission percentage.
What I Like About IQuandex
There isn’t much to like about this company due to the fact that it’s clearly a pyramid scheme.
What I Don’t Like ABout IQuandex
1. Clearly a Pyramid Scheme
Like I mentioned earlier, if the business structure relies on recruiting new members to keep it going, then you’re most likely dealing with a pyramid scheme.
And because iQuandex doesn’t have any products for you to sell, in order for the business to work, you have to recruit new members into the business.
Thus this is an illegal business.
2. Trading Bots
I’ll admit that the trading bot is a nice sell to those looking to invest, but unfortunately it’s a sham. The fact that this company makes you pay $25 is even worse.
Is IQuandex A Scam?
If there was a definition of a pyramid scheme, then iQuandex would be it. This company has way too many flags to ever be considered legit.
For one, I have no idea who actually owns the company.
I usually like to know who i’m getting into business with before I invest my time and money into it.
Also, this bot that they claim automates your investment sounds sketchy at best. And lastly, they have zero products to sell and rely heavily on recruiting to earn income.
That right there tells me it’s a big ol scam. So I recommend anyone thinking about joining this company to just stay far away.
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