Good-X fails to supply possession or government info on its web site.
As an alternative, Good-X gaslights potential buyers by mendacity about it having “no directors” and “no homeowners”.
These claims are after all baloney. Good-X didn’t set itself up, its proprietor/admin did. We’ll get into why Good-X is a rip-off later within the evaluation.
Good-X’s web site area (“smart-x.world”), was privately registered on June thirtieth, 2024.
As all the time, if an MLM firm is just not overtly upfront about who’s working or owns it, assume lengthy and onerous about becoming a member of and/or handing over any cash.
Good-X’s Merchandise
Good-X has no retailable services or products.
Associates are solely in a position to market Good-X affiliate membership itself.
Good-X’s Compensation Plan
Good-X associates make investments USD equivalents in cryptocurrency. That is finished on the promise of 1% a day, capping out at 300%.
Observe that Good-X expenses a ten% charge on all withdrawals.
The MLM aspect of Good-X pays on recruitment of affiliate buyers.
Good-X Affiliate Ranks
There are six affiliate ranks inside Good-X’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Tier 1 – make investments $10 to $300 and generate over $10 in downline funding quantity
- Tier 2 – make investments $301 to $500 and generate over $10,000 in downline funding quantity
- Tier 3 – make investments $501 to $1000 and generate $50,000 in downline funding quantity
- Tier 4 – make investments $1001 to $3000 and generate $100,000 in downline funding quantity
- Tier 5 – make investments $3001 to $5000 and generate $500,000 in downline funding quantity
- Tier 6 – make investments $5001 or extra and generate $1,000,000 in downline funding quantity
Referral Commissions
Good-X pays an “as much as 20%” referral commissions on cryptocurrency invested by personally recruited associates.
Residual Commissions
Good-X pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary group, break up into two sides (left and proper):
The primary stage of the binary group homes two positions. The second stage of the binary group is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary group are generated as required, with every new stage housing twice as many positions because the earlier stage.
Positions within the binary group are stuffed by way of direct and oblique recruitment of associates. Observe there isn’t a restrict to how deep a binary group can develop.
On the finish of every day Good-X tallies up new funding quantity on each side of the binary group.
Residual commissions are paid as a proportion of funding quantity on the weaker binary group aspect.
- Tier 1 ranked associates earn a 5% residual fee price
- Tier 2 ranked associates earn a 6% residual fee price
- Tier 3 ranked associates earn a 7% residual fee price
- Tier 4 ranked associates earn an 8% residual fee price
- Tier 5 ranked associates earn a 9% residual fee price
- Tier 6 ranked associates earn a ten% residual fee price
As soon as paid out on, weaker binary aspect quantity is matched towards the stronger binary group aspect and flushed. Any leftover quantity on the stronger binary group aspect carries over.
Becoming a member of Good-X
Good-X affiliate membership is free.
Full participation within the connected revenue alternative requires a minimal $10 funding.
Good-X solicits funding in varied cryptocurrencies.
Good-X Conclusion
Good-X is an easy smart-contract Ponzi scheme with connected pyramid scheme commissions.
Good-X is a Ponzi owing to there being no exterior income supply. New funding funds ROI withdrawals.
All Ponzi schemes are scams. In truth one might argue Good-X mendacity about having no proprietor and never being a rip-off makes it a rip-off – on high of the inherent monetary fraud after all.
The MLM aspect of Good-X is a pyramid scheme owing to nothing being marketed or offered to retail clients.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve Good-X of ROI income, ultimately prompting a collapse.
The mathematics behind Ponzi schemes ensures that after they collapse, nearly all of members lose cash.