Monyx’s domain (monyx.io) was registered privately on 17th November 2017 and website launched thereafter, do not provide any information about the owners of the company. Monyx claims that it will outperform bitcoin very soon.
The website is filled with huge claims and big bonuses. However, there are few red flags that make this company suspicious. I would like to raise those red flags that you should consider before joining Monyx.
The company does not have any verifiable product or services that can be retailed apart from the affiliate recruitment program. If you wish to join the affiliate program for free, you would only be able to enjoy the referral commission. For full participation, members need to invest at least $100.
Also, if a company is not transparent and provides no information about the company’s background, there is an enormous possibility of it being a scam.
Monyx – Compensation Plan
The affiliates are promised MYX points that ranges from a rate of 0.45 cents to $1 for each point. Later, these points are lent back to the platform for huge promised ROIs.
- Plan 1: You need to invest $100 – $1000 for receiving daily ROI as we as 0.1% bonus for 140 days
- Plan 2: You need to invest $1001 – $10,000 for receiving daily ROI as well as 0.2% bonus for 120 days
- Plan 3: You need to invest $10,001 – $50,000 for receiving daily ROI as well as 0.3% bonus for 80 days
- Plan 4: You need to invest $50,001 – $100,000 for receiving daily ROI as well as 0.4% bonus for 60 days
Monyx – Referral Commission
A unilevel structure is used to pay referral commission to its affiliates. Monyx places one affiliate at the top of the team and directly recruited affiliates are placed on the level 1. Affiliates recruited by level 1 affiliates are placed on level 2 and so on.
The commission is paid according to the funds invested and the MYX points that are parked with the Monyx platform.
Monyx – Commission for Initial Investment
- Level 1: 8%
- Level 2: 3%
- Level 3: 1%
Monyx – Commission for MYX Points
- Level 1: 8 %
- Level 2: 3%
- Level 3: 2%
- Level 4: 1%
- Level 5: 0.5%
Monyx ICO Reviews
Tim: I am looking forward to the pre ICO and kind of interested in getting into this early. Finger crossed.
Jane David: I liked the commission plan and have invested in the Pre ICO. I am sure this will lead somewhere.
Conclusions from the above Reviews
It is clear from the above reviews that the affiliate feedback will take some time to pop up. The platform is in the phase of penetration into the market and we would be able to find the answers soon.
Regarding the genuineness of the platform, I am sure that the hidden agenda of the company is to operate the lending Ponzi Scheme at the back end and leave the affiliates after a certain amount of ROI allotment.
Before we conclude anything, let’s see what the company has to offer. As per their website, Monyx is going to outperform bitcoin, very soon. The company claims that it is going to be the first investment platform to outperform Bitcoin on a risk-adjusted basis. It is going to use the state-of-the-art Algorithmic Trading which is powered by Artificial Intelligence to do so.
However, Monyx has not provided any business model or proof for the AI bots for trading on its website which signals towards a loose end.
It is on their website that once you own Monyx, it behaves like an interest bearing asset: they possess value over time and can be traded on major exchanges. However, failed to associate the time it would take and the exchanges it would be accessible with.
The website also claims that they have traded successfully applying this algorithm since 2013 and now the same is available for the outside capital.
This claim also contradicts the Ponzi Scheme logic. As per the website, it never existed before 2017 and even if we put that logic aside, the owners of the company would have been the richest in the world by now. So, what is the need to solicit money from the random users.
This does not make sense. Also, if they were able to make such huge profits, they would have been popular by now. So, what is keeping them to hide their identity. All these theories make Monyx, a scam.
Monyx is trying to bait innocent customers to fund for their worthless points by making fake projections. The company projects to increase the profit of $10,000 to $150,000 till first quarter of 2018. It may seem alluring, but there is no guarantee for this kind of return. It is not sure that the company will continue to stay on the web for that long.
Monyx is paying its affiliates through the internal exchanges and through the money invested by the new affiliates. As soon as the recruitment will slow down, the platform will collapse. This will leave majority of the investors into loss.
The admins will stop making payments and the issues will increase with the platform. With this fate, the owners will run away with what left and would not be easily traceable.
Though, the early affiliates would be able to make some money out of the scam, but most of the users will left without profit as well as the initial capital. Hence, this pictures the lending Ponzi Scheme operation and you should stay away from investing into Monyx.
I believe that opting for a company or an investment plan, that is not true about its origin and the stake holders, would be a bad decision. There are plenty of other options available and it would be worth to give them a chance, in spite of getting into something like Monyx, it would be prudent to select the one that is genuine and legit and has no such red flags around it.