What is My Blockchain Life? Another Crypto Scam!

What is My Blockchain Life?

Ponzi schemes are quite prevalent on the internet, particularly in the crypto space. And this is no huge surprise either.

Scammers are taking advantage of the growing popularity of cryptocurrency and earning large sums of money off those who want in on the next digital gold rush but don’t fully grasp yet how the technology works.

As time goes on, we shouldn’t be shocked to see more new Ponzi schemes emerge to prey on the uneducated. That’s why sites like mine exist to ensure that you don’t fall for such ruses and schemes.

With that in mind, we’ll be taking a closer look at My Blockchain Life, a Ponzi scheme with a shady founder in today’s review.

The fact that you’ve taken a moment to scrutinize this product before signing up should be applauded. You’ve done yourself a huge favor. Your due diligence will save you from potentially wasting your time and money.

A good bit of research always goes a long way in the fight against online scams. Creating a sustainable full-time online business is not difficult. You just need to know where to look.

Before we proceed I’d like to let you know that I’m not linked to My Blockchain Life in any sort of way and I’m not trying to sell you this product.

Instead, I’d like to show you why this program should be avoided…

My Blockchain Life Product Review

Name of Product: My Blockchain Life
Owner: Glen Williams
Type of Product: Crypto Ponzi Scheme
Cost of Product: $3000 for the mining hardware + other hosting fees
Who Is This Product Best For? No one!

My Blockchain Life Product Summary

My Blockchain Life is yet another one of the many cryptocurrency investment Ponzi scams that can be found online. This one, in particular, requires you to spend thousands of dollars on mining hardware and other hosting expenses.

However, all money and income you earn are purely derived through the recruiting of new participants into the program, and there is no evidence that any investing or mining is actually done to provide a legitimate return on investment.

Product Rating: 0/100

Would I Recommend This Program: DEFINITELY NOT!

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My Blockchain Life Background

My Blockchain Life is a multilevel marketing firm that places itself in the crypto investment niche. However, nothing on their website discloses who owns or controls the company. Right off the bat, this seems very fishy.

Their landing page also doesn’t show anything helpful either. It is nothing more than a member login page with some testimonials when it was introduced in 2020. Upon closer inspection, you can easily tell that these testimonies are fake and not from actual people who exist.

They don’t have a physical address but claim to be based in the United States and other regions of the world. But that doesn’t make any sense at all.

Furthermore, the domain name was privately registered last January 2020, but it was done anonymously. A man named Glen Williams also appears in their marketing videos as the ambassador or spokesperson for My Blockchain Life.

These promos were posted to their Facebook page and Williams claims to be the owner and CEO of My Blockchain Life in these particular videos.

If Glen Williams’ name seems like a name you’ve heard before, it’s because he was involved in another Ponzi scheme called Bitconnect, which was shut down after only a few months of operation. Following Bitconnect’s collapse, Williams alleged that approximately $2 billion was lost.

This alone should have you running for the hills if you were ever considering joining this program. No sane person should want to invest in a program that’s owned by someone who has a shady history.

Furthermore, we don’t know if the same people from Bitconnect are working with Williams on My Blockchain Life, but I wouldn’t honestly be surprised if they were.

These kinds of Ponzi schemes are usually part of larger network or are being operated by the same group of people. They just rehash or recycle the same program and scheme once the current one shuts down.

My Blockchain Life Product Line

As an MLM organization, My Blockchain Life does not sell any retail items or services. They only have one source of revenue that you can participatin in, and it is purely through recruiting new people.

This already tells you that they’re operating illegally. Remember, the FTC states that business models that only have recruitments as their sole income opportunity without any products to offer are classified as pyramid schemes which are deemed illegal.

So not only will you be committing a crime, but you’ll also potentially face legal repercussions if you ever associate yourself with such schemes.

How Does My Blockchain Life Work?

My Blockchain Life claims to be the world’s first and fastest-growing official blockchain network marketing firm. The way their scheme works is that you invest in the MLM opportunity, secure the mining hardware, and then get a daily passive return on your investment.

As a result, investors pour money into the mining industry and can make $1000 every day. But why are they selling it to the public if they truly do have some algorithm that can yield that much ROI? They may simply roll over any ROI and dramatically boost earnings on their own.

This doesn’t make any sense at all. But then again, Ponzi schemes in general just don’t make any sense. All they’re really after is to get you to invest your money with them.

What’s worse is the fact that My Blockchain Life is not even registered with the SEC or any other financial regulatory organization to conduct out investments on behalf of its clients.

This implies that on top of associating yourself and promoting a Ponzi scheme, you’re also potentially engaging in securities fraud which can lead to some serious jail time.

Furthermore, Glen Williams, who contracted COVID, passed away in October 2020. We are not certain if My Blockchain Life will eventually shut down or conintue, but the company has already rebooted with a new person working behind the scenes as its new CEO.

Getting Started with My Blockchain Life

My Blockchain Life only has one means to generate money and that is via recruiting new members.

Signing up to be a member is completely free, but in order to participate in the program and their income opportunities, you must first acquire their mining hardware that will cost you $3,000 and then roll over $1,250 every 500 days or $2,000 every 1,000 days.

My Blockchain Life Compensation Plan

Their compensation plan relies upon you investing money on their mining hardware and then paying up to $3,000 worth for hosting.

The length of the investment maturity period is also determined by the hosting. If you spent $1,250 for hosting, it will take 500 days, and if you spent $2,000 for hosting, it would take 1,000 days.

Furthermore, commissions are calculated based on sales volume rather than amounts invested or spent:

$1250 hosting = 500 GV
$2000 hosting = 1000 GV
$3000 mining hardware purchase = 1000 GV

Bitcoin is also used to pay all bonuses and commissions.

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My Blockchain Life Membership Ranks

My Blockchain Life offers nine membership levels. PV means “Personal Volume” which refers to sales volume generated by personal investments as well as sales volume generated by personally recruited members. PV gained by an affiliate and their downline is referred to as GV or “Group Volume.”

Here’s a breakdown of each level:

Prospector

Earn 500 PV and 5000 GV in accumulated weaker binary team side volume by recruiting and maintaining two members (one on both sides of the binary team).

Bronze

Maintain two individually recruited members and 500 PV, while accumulating 12,5000 GV in inferior binary team side volume.

Silver

Earn 1000 PV and 25,000 GV in cumulative weaker binary team side volume by keeping two individually recruited members.

Gold

Earn 1000 PV and 100,000 GV in accumulated weaker binary team side volume by recruiting and maintaining four members (two on both sides of the binary team).

Platinum

Six members must be recruited and maintained (three on each side of the binary team), 100 PV must be maintained, and 500,000 GV must be earned in cumulative weaker binary team side volume.

Diamond

Maintain eight individuals (four on each side of the binary team), 1000 PV, and 1,000,000 GV in cumulative weaker binary team side volume.

Vice Chairman

Ten members must be recruited and maintained (five on each side of the binary team), 1,000 PV must be maintained, and 5,000,000 GV must be earned in cumulative weaker binary team side volume.

Chairman

Twelve members must be recruited and maintained (six on each side of the binary team), 1,000 PV must be maintained, and 10,000,000 GV must be earned in cumulative weaker binary team side volume.

Global Chairman

Maintain 12 individually recruited individuals and 1000 PV, while accumulating 25,000,000 GV in weaker binary team side volume.

It’s also important to keep in mind that recruited members must have purchased at least one mining hardware and hosting package in order to count towards qualifying for the income opportunity.

Referral Commissions

Referral commissions are handed out according to a five-level unilevel compensation structure:

20% on level 1 (personally recruited members)
10% on level 2
2.5% on levels 3 to 5

Residual Commissions

The compensation system for residual commissions is binary. My Blockchain Life calculates new sales volume made on both sides of the binary team at the conclusion of each month. Members are compensated 15% of the volume gained by the binary team’s weaker side.

My Blockchain Life Ugly Truths Exposed!

#1 It’s A Ponzi Scheme!

There’s no doubting that My Blockchain Life is a Ponzi scheme. When you advertise My Blockchain Life, you’re also committing securities fraud, which could lead to serious consequences if you’re ever caught by the authorities.

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Advantages of My Blockchain Life

None. There are no advantages whatsoever in joining a Ponzi scheme.

Is My Blockchain Life a Scam or a Legit Program?

My Blockchain Life is nothing but a Ponzi scheme. It’s simple as that. These kinds of scams are illegal and it’s best to stay away from them for good. If you want my advice on how to make legitimate money online, you can find my recommendation below.

How Do I Use The Internet to Make a Full-Time Salary?

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