iGoCrypto: Legit Cryptocurrency MLM Business Opportunity?
iGoCrypto is a cryptocurrency education platform that aims to teach students how to be successful in the crypto economy. Find out how it works today in our review.
What Is iGoCrypto?
iGoCrypto, found online at iGoCrypto.com, describes itself as an “education and opportunity leader” led by “a dream team advisory board.”
The platform claims to be an all-in-one solution that will “help the world decentralize through cryptography by providing valuable education and a conduit to obtain any and all products needed to assist in this crusade.”
Obviously, these descriptions are vague and filled with buzzwords. The website makes it difficult to determine what, exactly, the company is selling: there’s limited information about the company available on the homepage.
If you dig a little deeper, however, you’ll learn that iGoCrypto appears to be yet another low-quality, cryptocurrency-based multilevel marketing company or pyramid scheme. Let’s take a closer look at how it works.
How Does iGoCrypto Work?
The front page of iGoCrypto.com doesn’t explain anything about how the company operates – or what kinds of products and services they sell. However, if you signup for free, you’ll get access to a special online dashboard that explains more about the company.
As of April 4, 2018, the company is in the pre-launch phase. When you sign up for your free account, you’ll get access to your “free temporary pre-launch position.”
iGoCrypto, like many multilevel marketing companies, seems to emphasize memberships over products and services. The company lists just a single product online. That product is called “iGoCrypto University”. It’s an education program that will explain the basic details behind cryptocurrencies, blockchain technology, and other aspects of the industry.
Overall, the goal of iGoCrypto is the same goal as other MLMs: convince as many people as possible to pay the exorbitant monthly membership fees, and then continue promoting the scheme until it eventually collapses. You get paid every time you convince someone to pay the monthly fee and annual fee.
iGoCrypto specifically emphasizes four ways to earn, including:
- The customer acquisition bonus, or CAB
- Retail commissions
- Team binary commissions
- Infinity compounding bonus
You’ll earn $35 when you refer someone to iGoCrypto University, for example, and $5 when you refer someone to the iGoCrypto Tool Suite. These commissions are paid on both monthly and annual fees (iGoCrypto charges members both a monthly and annual fee).
Ultimately, the iGoCrypto website is entirely focused on membership, commission, and compensation information. The website has limited information about the educational product being offered – like whether it’s an online course, a physical textbook, or some other product. However, it appears to be a low-quality online crypto course similar to information you can find online for free.
iGoCrypto Compensation Plan
Here’s how the compensation plan is listed on the official iGoCrypto website:
- Student Advocate: Free membership, payments on personal commissions
- Advocate: $100 membership fee, $500 in personal volume to qualify
- Silver Advocate: One Qualified Advocate in each line
- Gold Advocate: Four Silver Advocates in each line
- Platinum Advocate: Four Gold Advocates in each line
- Diamond Advocate: Four Platinum Advocates in each line
- Founding Advocate: Four Diamond Advocates in each line
Like most MLMs, you’re required to pay a fee to join the company, and then continue paying fees to stay active in the company. iGoCrypto hides its pyramid scheme behind its “educational products and services”, which include all of the following:
- iGoCrypto Crypto Training: $50 per month plus a $500 annual membership fee ($1100 per year total)
- Tool Set: $10 per month plus a $100 annual membership fee ($220 per year total)
It appears you need to pay both of these membership packages in order to stay active within the iGoCrypto MLM system. It’s unclear if anyone can make money on the free membership package.
As mentioned above, the vast majority of each product’s price goes to affiliate commissions. Very little money goes to the product itself.
Who’s Behind iGoCrypto?
iGoCrypto is led by co-founder and CEO Chris Kellar along with president and co-founder Clinton Aragona. Kellar is an entrepreneur with 20+ years of experience, while Aragona is an entrepreneur and fitness enthusiast with 20 years of MLM experience.
Other listed members of the team include Chris Gorman (“Chairman of Legal Education Committee” and former Attorney General for the State of Kentucky), Jason Adams (Chief Creative Officer), Paul Barlow (VP of International Expansion), and Robin Righter (Chief Compliance Officer).
Google searches reveal limited information about the company’s founders, Chris Kellar and Clinton Aragona. It’s unclear which previous MLMs either founder has been involved with. However, the company’s legal counsel, Chris Gorman, appears to have genuinely served as the Attorney General of Kentucky between 1992 and 1996.
iGoCrypto In Conclusion
iGoCrypto is a multilevel marketing company loosely based around some type of educational product. In reality, this appears to be yet another membership-focused MLM encouraging users to recruit as many people as possible, convince them to pay the exorbitant monthly fees, and then continue recruiting until the scheme eventually collapses. The vast majority of fees go towards affiliate commissions, with money being funneled up the pyramid instead of being used to develop or pay for any products.
iGoCrypto first appeared online in March 2018. As of early April 2018, the company is in the pre-launch phase. To learn more about iGoCrypto, visit online today at iGoCrypto.com.