Kryptogenex claims to be in amazing cryptocurrency education platform that also provides an amazing business opportunity where you can make boatloads of money referring others to join, but is this really a place you should be joining? Or is Kryptogenex a nasty scam that you need to avoid at all costs?
In this review you will see that I have some serious concerns about this place. There are many red flags that I have found that telling me to avoid it and that it is a scam. In this review I will be going over what Kryptogenex claims to be as well as my concerns. If you are thinking about buying into this you’re going to want to think again and definitely read this over first.
What Is Kryptogenex?
Kryptogenex is marketed as an education platform that provides basic education on Bitcoin and cryptocurrency in general. On top of this they also provide investment opportunities where you can invest your bitcoin with them and have them manage it.
Everything sounds good so far but then when you see the lucrative compensation plan that they have in place, where you can get paid to recruit and other members, it starts to get a bit concerning. There is nothing wrong with a company paying members to refer and other members but when it comes to platforms like this that offer cryptocurrency investment package is, this is definitely concerning and it makes me wonder if it is a Ponzi scheme like the many other crypto Ponzi’s out there. For example: Bits Trades and Supreme Coin.
Another major concern that I’ll go over is about the people who created this place.
What You Get With Kryptogenex
The main product that they promote this place with is the education platform. Like I said, you are provided with very basic cryptocurrency education. This will include information on things such as: what is Bitcoin, the basics of blockchain technology, where Bitcoin came from, how to trade cryptocurrency, etc.
It is all very basic. For example the information provided on trading cryptocurrency will only tell you how you can go about doing it but as far as strategy goes you won’t know anything.
The training is laid out video format which is nice and easy to follow.
If you want to buy into Kryptogenex you will have to pay for this training. This is the “core product” and cost $250 plus $50 per year if you want to be a promoter and earn money recruiting others to join.
The Krypto App
They also have what is called The Krypto App which is for people who want to invest a small amount of Bitcoin, $50 – $200. I don’t know much at all about this because they do not really tell you anything. All they tell you is that this is for people “looking to get their feet wet” but not invest a lot.
This seems to be where they are trying to funnel everyone. As a member you will get access to “The Kryptorithm” which is supposedly a “very powerful algorithm” that manages your crypto assets for you. You get access to this but you will have to pay more money to actually buy into it.
What is it?
While supposedly it is a bitcoin management service where you can deposit your bitcoin with them and they will manage it and help grow your wealth.
There are three different packages you can buy in at: the Silver Package, the Gold Package, and the Platinum Package. The silver package cost $1000, the gold package cost $2000, and the platinum package cost $3000.
You do not have to join as a promoter but this seems to be what most people are going to do. Why? Well because the compensation plan is very lucrative and the education platform is very basic with information that can easily be found for free online… So I don’t really know why anyone would buy in just as a customer.
Direct Referral Bonuses:
When you recruit someone to join in you will get paid $100 right away when they buy in at $250. This is when they buy the main course, or the educational package.
The real money comes in when you recruit someone and they buy into The Kryptorithm. You will be able to earn $400-$1200 based on which package they purchase.
Customer Acquisition Bonuses: of $25 – $250 bonus when you bring in 10 customers
You will also be able to earn $25 bonuses when you recruit someone in and they join as a customer only. This is nice because it shows that they are trying (to some extent) to sell this as a product to the general public and not to people who are just looking to earn money recruiting others in, but as I said I do not think many people are going to be joining just as customers.
You will also be able to earn a $250 bonus when you bring in 10 customers.
“The Kryptonary” Binary Payout Plan:
What they all The Kryptonary is their binary compensation plan. In order to make money from this you first have to recruit in two members. There are two open spots below each person and it branches out the further down it goes. If you recruit in more than two people the additional recruits will spill over and fill in any positions that are open beneath you.
You will be earning commissions from many levels beneath you with this Kryptonary payout plan. This is that the pyramid part of the compensation plan because commissions will flow up from your downline to you.
The People Behind It All
One of the big problems that I have with this place is that there is no information on the people behind it. They do not tell you anything about the founders/creators and your left completely in the dark.
Buying into the education platform for $250 isn’t all that crazy, but investing thousands of dollars in The Kryptorithm investment packages??? That is crazy to do that without even knowing anything about the people behind it.
But anyways… after doing some digging around I found that one of the co-founders of this place is a guy named Stephen McCullough. And what you need to know about him is that he was one of the co-founders of SkyBiz. What is SkyBiz? Well…. lets just say that it was sued in 2001 by the FTC for being a pyramid scheme and leave it at that.
So literally all I know about the people behind this place is that one of the co-founders has a history of pyramid scheming. Great news right?
Conclusion on Kryptogenex
It is hard to tell what is really going on here. With online platforms like this you never really know what is going on in the background. Are they running a pyramid scheme? A Ponzi scheme? You have no idea.
For all I know they might not even be investing your money when you buy into The Kryptorithm with thousands of dollars. And because of how shady and nontransparent this platform is I am very suspicious of this possibly being true. This place exhibits many of the characteristics I warned about in my post on spotting a cryptocurrency scam. They could just be using incoming investments to pay off older investors.
But anyway, this is all just my opinion. I personally do not trust this place and I see no reason to buy into it if you are looking for cryptocurrency education alone. You can easily find plenty of free cryptocurrency educational videos on YouTube that make it very easy to understand.
If you have any questions, comments, or concerns please leave them below and I’ll get back to you as soon as I can 🙂