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Is QTRex A Scam – What’s The Deal With This Cryptocurrency Scheme?
Welcome to My QTRex Review!
Cryptocurrency is getting mainstream attention nowadays. With public figures such as Elon Musk tweeting about it, you might have become curious about it.
Following this, cryptocurrency multi-level marketing MLM businesses began.
In traditional marketing, salespeople are compensated depending on their sales. On the other hand, MLM companies have incentives for hiring new salespeople. Hence, members of MLM companies earn both from products/services that they sell and referrals.
QTRex Review Summary
Founders: Not Available
Product Type: Cryptocurrency Multi-Level Marketing
Price: $33 For The Account Creation + $50-$50,000 For The Membership Fee Per Tier
Quick Summary: QTRex is a cryptocurrency opportunity posing as multi-level marketing. It doesn't offer tangible products or services.
Members earn through “investments” and by recruiting new members. The question is -- is it a legit business model or another crypto-scam to watch out for?
Overall Rating: 1/10
Companies such as QTRex called themselves a cryptocurrency MLM company. They market themselves as the quickest way to get rich.
But, is cryptocurrency MLM an excellent way to make money?
Is investing in QTRex the right decision to make?
Continue reading to know more.
What Is QTRex About?
QTRex is a multilevel marketing company that allows you to earn Bitcoin by recommending others to the opportunity and growing a downline team.
Unlike most MLM companies, QTRex doesn't have products or services. Membership payments from their recruits are their only source of income.
On June 30, 2020, the founders privately registered the domain name qtrex.io, according to their website. Because of that, there was no additional information that you can find. You will also find no data about the founders of the company on the internet.
QTRex Product Line
QTRex does not have any products or services. After checking the company website, I couldn't locate any things that you could buy as a regular customer. There is no information about any product or service you'll get if you become a member.
It appears that the only benefit of being a member is the ability to earn from the company's referrals.
It’s almost the same as Coinbase, Bizzcoin, and Million Money.
Is QTRex A Scam?
QTRex has all the red flags of fraud.
First, there is no information about who is running or who owns the company. If a company is not transparent on basic information, then think hard before giving that money.
Second, QTRex doesn't have products or services. They are an MLM company, so I expected the company to have products or services. Without those, where do they get the money to pay their members?
It might be tempting to try out things and invest money in something that can potentially make a lot of money. But, it would be best if you consider different factors first before shelling out cash.
Finally, the only source of income is the recruitment of new members. Scammers pay longer-standing members with the money from new members. This scheme cannot be maintained and will always come to an end. Eventually, the system will collapse, and you could lose a lot of money.
As mentioned, QTRex displays warning signs. You must know how to identify a scam. Regardless of the name of the company, they will always entice you in the same way.
To learn more about how crypto-scams look like, you can watch the video below:
Is QTRex A Pyramid Scheme/Ponzi Scheme?
QTRex is a pyramid scheme because it involves recruiting new members. The company solely relies on members signing up and paying membership fees.
New members invest and reinvest in the program, which keeps it afloat. There is no other reliable source of revenue that could keep the business active. When the recruitment stops, the money ceases to flow.
It is also a Ponzi scheme because it requires investment from its victims with promised high returns. In reality, the money that earlier members receive comes from the new members.
Because we have no idea where they operate, only time will tell whether MLM regulatory agencies discover them.
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QTRex Compensation Plan
QTRex gets money when members sign up and pay their membership fees. There are two ways members can earn: recruitment commissions and cycler commissions.
Before discussing commissions, you must first understand the compensation plan model that QTRex uses, referred to as the "matrix cycler."
QTRex has matrix boards that you buy into to earn money when they are filled. You make a commission every time you fill one of these boards with investing members.
When a matrix board is complete, you use the commissions to buy into the next board. If you want, you can pay ahead of time and purchase positions on each board. When a board is filled, you are re-entered into it to earn again when it is filled.
As a recruitment commission, QTRex pays out 50% of the money paid into the tier. Any tier generates your third and tenth recruitment commissions, which are passed upline.
The company charges this from all of your recruited members as well as their third and tenth recruits.
Matrix Cycler Commission
As previously stated, once you fill up any of the matrix boards, a cycled commission is paid to you.
If you have not yet entered the next matrix cycler board, 50% of your money will be used to get you into the following matrix cycler board.
If you are already on the next board, you will receive the full commission payment.
The cycler follows a 3x1 matrix position. To start a new cycle, you need to fill up three positions. There will be 3x1 places in each process.
When new and existing members purchase any of the membership tiers, these forms are filled out.
Commissions are distributed in twelve tiers. The first tier will require an investment of $50, up to the 12th tier, requiring a $50,000 investment to enter.
The commission structure is as shown below:
Q1 – $50 cycler commission and the establishment of a new Q1 tier matrix position
Q2 – $75 cycler commission and the establishment of a new Q2 tier matrix position
Q3 – $125 cycler commission and the establishment of a new Q3 tier matrix position
Q4 – $250 cycler commission and the establishment of a new Q4 tier matrix position
Q5 – $500 cycler commission and the establishment of a new Q5 tier matrix position
Q6 – $750 cycler commission and the establishment of a new Q6 tier matrix position
Q7 – $1000 cycler commission and the establishment of a new Q7 tier matrix position
Q8 – $2000 cycler commission and the establishment of a new Q8 tier matrix position
Q9 – $5000 cycler commission and the establishment of a new Q9 tier matrix position
Q10 – $10,000 cycler commission, as well as the establishment of a new Q10 tier matrix position
Q11 – $20,000 cycler commission, as well as the establishment of a new Q11 tier matrix position
Q12 – $50,000 cycler commission, as well as the establishment of a new Q12 tier matrix position
How Much To Join QTRex?
If you make an account, you'll see the dashboard, where you'll be asked to pay $33 in Bitcoin to continue.
So basically, you need to pay $33 just for creating an account.
After you've paid the $33 TREX cost, you'll be able to choose from 12 different membership packages ranging from $50-$50,000.
There is no benefit in joining QTRex. It's nothing more than a massive Ponzi scheme that won't help you.
A legitimate business should be open and honest about its leadership and management. The lack of supervision or owner information indicates that they do not wish to be caught or held responsible at this time. This method also allows them to restart the scheme if necessary.
You need to pay $33 for creating an account alone, plus membership fees that range from $50-$50,000. QTRex is an expensive investment for something that couldn't guarantee returns.
There's nothing legitimate going on in QTRex.
The incentives are all geared toward recruiting, and if you don't recruit people, you won't be able to make any money.
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There are no details regarding Qtrex’s tools and support, which is another red flag.
QTRex is 100% a scam. Stay away from this program!
If you've made it this far, you've avoided making a potentially terrible investment.
You should research the company thoroughly first before investing your money. The following guidelines below will help you do a background check of the company.
- Check for basic information about the company, such as the company address, founders, and contact information.
- Look for an "about us" or company page on the website.
- Check if the platform is registered or has a good trust rating.
- Look into what they have to offer. Pay attention if their promises seem too good to be true.
- Check the company's social media(LinkedIn, Facebook, Twitter, Instagram).
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I hope this Qtrex review has helped you come up with a wise decision. If you have questions or comments, please feel free to share them below.