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Is X10 Platform A Scam? Crypto-Scheme That Offers Guaranteed Income?
Welcome to My X10 Platform Review!
By now, you probably have an idea about Bitcoin… or at least, have heard of them because of the number of related opportunities online. Despite the negative stigma attached to it, perhaps, there’s a sense of curiosity sparking.
X10 Platform Review Summary
Name: X10 Platform
Founders: Not Disclosed
Product Type: Trading Platform
Price:$97 To $397 For Their Affiliate Packages
Quick Summary: X10 Platform is a trading platform that claims to provide an automatic bot for trading cryptocurrency and a guaranteed return of investment.
It’s been shut down and that’s because of having too many red flags against it but it’s worth reading this review so you’ll know what kind of companies you should get rid of.
Overall Rating: 1/10
Don’t worry, that’s what this site is about -- to find opportunities that would help you make money online and expose scams and low-quality programs.
In this post, we will talk about X10 Platform -- a cryptocurrency company that claims to offer an automated trading platform for Bitcoin.
By automated, it means you don’t have to do anything other than investing money into their program. Sounds exciting, right?
But what’s the truth behind this? Is this a legit trading platform or another cryptocurrency scam? How does X10 Platform work?
Let’s find out all the answers we need in this review!
What Is X10 Platform About?
We’ve heard about Forsage, Dunamis, and other crypto schemes online making people excited about investing their hard-earned cash, and now, there’s another program called X10 Platform that’s basically doing the same.
Apparently, this platform provides an automated trading system so you don’t have to trade Bitcoin manually. All you have to do is invest a certain amount of money and wait for a guaranteed return every day.
No need to track the cryptocurrency market, no need to trade actively. All you have to do is buy into their packages, which I’ll discuss in a bit but for now, if this kind of scheme doesn’t scare you, I don’t know what else will.
We’ve reviewed over a hundred programs here in Best Lifetime Income and most of the time, if the program claims to be automated -- meaning, you don’t have to do anything other than investing cash, it turns out to be a scam.
Reality speaking, you can’t just earn money without moving a finger unless you are too lucky to win from a lottery. However, if you’re joining a legit platform, you often need these three things to make an income -- patience, skills, and time.
But with X10 Platform, all you have to do is create an account by providing the necessary details, such as your name, email address, contact number, etc. Once your account is created, you will be redirected to their dashboard where everything takes place. No need to worry about your next move because their “AI-powered system” will do the legwork of trading for you.
Promoting a get-rich-quick scheme is a red flag already and here’s another thing.
There’s no information about the owner of the brand. Meanwhile, the domain was registered privately in August 2018.
Would you really invest your cash in this kind of program?
X10 Platform Product Line
X10 Platform doesn't offer tangible products to sell nor services that I think are worth your money. What they do have are packages you can invest in so “you can make a guaranteed income.”
These packages let you earn as an affiliate though and we’ll tackle more of that in a bit.
Is X10 Platform A Scam?
I won’t directly say that X10 Platform is a scam but with all the red flags, it’s definitely a risky program to try.
The website itself is suspicious because it doesn't share anything about its owners and mind you, it has already collapsed.
It was around February 2019 when X10 Platform declared about the “Cryptopia” Exchange Hack where hackers, apparently, had stolen more than 15 million dollars.
If that’s not enough, here’s another thing: no evidence of actual trading happened in X10 Platform so it’s obvious that the only way for them to earn an income is to recruit people and use the money they invested to pay for their affiliates.
Another thing is the lack of proof that Cryptopia, which is a cryptocurrency exchange in New Zealand, by the way, is affiliated with X10 Platform.
What happened was obviously just an excuse for the people behind X10 Platform to steal their members’ money without getting blamed for it.
Here’s another thing we found out, apparently, members who earned money from X10 Platform were asked to pay for a transfer fee. Even those who have not invested any funds into the program were asked to shoulder the withdrawal fee for the last payout.
The sad thing about this is that the fees have increased according to a source.
Imagine the greedy people behind the program, probably laughing at their own tricks. The authorities might never get them now but please, do yourself a favor. Don’t ever join this kind of program!
To learn more about X10 Platform, you can watch the video below:
Is X10 Platform A Pyramid Scheme/Ponzi Scheme?
With the things I’ve stated above, which are taken from legit resources, by the way, I would say that it has a telltale of a Ponzi scheme.
It promises guaranteed returns but when you look at it, the main source of income comes from recruitment, then it’s definitely a pyramid scheme.
Just in case you don’t have an idea what it is, a Ponzi scheme is illegal. It’s a fraudulent activity that often claims a high return of investment to its investors. The only way to make money is to buy into the program and recruit people and use your downline’s money to pay you.
In short, you get a direct commission from it.
It’s different from a legit affiliate marketing because, on this platform, you get paid directly for the sales that you make.
Ponzi schemes don’t have sales profit since they don’t have products or services, to begin with.
Also, with all the red flags I’ve mentioned and now that it’s shut down, the answer is obvious.
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X10 Platform Compensation Plan
X10 Platform marketed their brand as a company that provides a guaranteed income so for example, if you buy into one of their packages, let’s say X10 Go, you will get at least $1,000 back for investing $97.
For a $197-worth of investment, you will receive at least $2500; $3,500 ROI for a $397-worth of investment; at least $14,500 ROI for $997-worth of investment.
For every new recruit, the affiliate will earn a certain amount depending on their membership. The commission will be given after two months (60 days) except for Ultra X10 members since they will get it after 3 months (90 days).
- For X10 Go, you get $50 for every recruit.
- For X10 Plus, you get $100 for every recruit
- For X10 Pro, you get $200 for every recruit
- For Ultra X10, you get $500 for every recruit
Like typical pyramid schemes, you can earn passive income or residual commissions from your downline. This means that you can get a commission from every new recruit that your team members make.
- For recruits coming from your level 1, you will get a 10% commission
- For recruits coming from your level 2 to 5, you will get a 5% commission
How Much To Join X10 Platform?
You can register an account with X10 Platform by just giving your personal details; however, if you want to earn commissions, you have to buy into their membership first. The membership package also determines the amount you’ll get.
Here’s an outline of their membership packages:
- X10 Go - $97
- X10 Plus - $197
- X10 Pro - $397
- Ultra X10 - $997
I don’t like anything about X10 Platform so I’ll talk about the drawbacks instead.
Like typical Ponzi schemes, X10 Platform has shut down and it can be because of various reasons like there’s no more recruit so there’s no source of funds or the people behind it have simply stolen their members’ money. Either way, it’s not good, especially for those who have invested a huge amount.
For a company that’s asking money as an investment, I think it’s just fair if they can provide details about their founder, executive team, contact number, and other necessary details so their members can reach them easily should anything wrong happen.
But of course, it’s a tactic so people won’t have any idea of who to blame when an unfortunate thing happens.
At first, I doubt calling them a scam but based on what we’ve uncovered, it certainly is a pyramid scheme. Starting from the bold claims up to the lame excuse of being hacked and the “fees” required to withdraw money, the people behind the X10 Platform are obviously up to no good.
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A total scam -- that’s what X10 Platform is!
It’s usual for companies that offer opportunities to make money online to make bold statements since it’s their way to attract people but you have to remember that there’s no such thing as quick money.
Also, if the investment company has shared little to nothing about them, you should be skeptical about it. Better yet, ignore it so there’s no chance for their marketers to talk you into joining them.
If you want to make money, there are other legit options to choose from. You can talk to preferred bank establishments or financial advisors to learn how you can grow your money legally. Otherwise, you can check our alternative below.
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