Overview of DeFin Wallets
DeFin is one of those passive income companies that often approach you via the internet or phone calls. Telling you how amazing it is to just put your money on the right horse and have an additional channel of income. This is the latest entry in this list and we’ll start by looking at its website itself. Read the full DeFin Wallets review here. The first thing you can know about the website is that it was registered in August 2020, so it is rather new. But even looking up the website on ‘Whois’, you can’t figure out who the owner of the business is. There is no mention anywhere on the internet it seems about the leadership and ownership of this business, which is rather odd. However on their website you can find a corporate address for Jersey, that’s not to be confused with the one in America. Jersey is a small island Crown dependency of Britain, off the coast of France. And this Jersey is infamous for being a tax haven.
About DeFin Wallets
While the business mentions the Jersey address, one shouldn’t presume that they actually do have a physical office there. So, seeing no point in chasing that thread, we looked at the countries that are contributing the most to the traffic DeFin gets on its website. And we found out they are probably targeting Cuba, Venezuela and Egypt the most, as reflected by the traffic. Looking at the business and offerings itself. DeFin Wallets doesn’t have any retail-able products or services, with affiliates only able to market DeFin Wallets’ affiliate membership only. The primary compensation plan is a rather suspicious perpetual daily return promise –
- Invest $10 or 0.00093 BTC and receive 1% a day
- Invest $50 or 0.00465 BTC and receive 1.6% a day
- Invest $250 or 0.023252 BTC and receive 2.4% a day
- Invest $1250 or 0.116258 BTC and receive 3.6% a day
- Invest $6250 or 0.581289 BTC and receive 5.2% a day
Then there are the referral commissions. Now this is a rather simple multilevel marketing scheme, which cannot be looked at in any other way. The business pays referral commissions through a unilevel compensation plan. Basically, a unilevel compensation plan positions an affiliate at the apex of a unilevel team, with all personally recruited affiliates positioned directly below them. And this continues for 5 levels of the same. Which if was practically possible, would cover 55people in a few weeks itself. While the basic affiliate membership is free, full participation requires investments in some or the other currency, including but not limited to popular cryptocurrency.
The business seems like it shares a lot of traits with a ponzi scheme. It also doesn’t tell you who the owner and team behind the business is. Also it doesn’t explain the tall claims it seems to make. We believe you should keep your distance from them, unless they prove worthy of trust with time.