Chip2Wealth’s website lacks executive information and recognized ownership.
The domain name “chip2wealth.com” for Chip2Wealth’s website was privately registered on August 14, 2024.
Kane Tanakka is named the CEO of Chip2Wealth. The bio is apparently fictitious because Tanakka is only present on Chip2Wealth’s website.
Chip2Wealth offers Chip2Wealth LTD’s company registration information in an additional effort to seem authentic.
On August 21, 2024, Chip2Wealth LTD was registered as a company in the United Kingdom.
A warning sign is an MLM business that claims to be based in the UK.
Incorporating in the UK is incredibly inexpensive and essentially unregulated. Furthermore, securities fraud associated to multilevel marketing is not actively regulated by the FCA, the UK’s leading financial regulator.
The UK is therefore a preferred country for con artists wishing to establish, run, and advertise phony businesses.
In the context of MLM due diligence, registration with the FCA or incorporation in the UK are irrelevant.
It is noteworthy that “Parshvi Sanghavi” is the creator of Chip2Wealth’s official marketing materials.
This name has connections to India, according to a Google search. This implies that the person in charge of Chip2Wealth has connections to India.
This is supported by Chip2Wealth’s official marketing, which uses the Indian rupee symbol:
There are no retailable goods or services offered by Chip2Wealth.
Only the Chip2Wealth associate membership itself may be promoted by affiliates.
Chip2Wealth affiliates make investments with the hope of earning passive returns as promised:
Be aware that there is a 10% withdrawal fee from Chip2Wealth.
Recruiting affiliate investors is how Chip2Wealth’s multilevel marketing business makes money.
Chip2Wealth pays residual commissions via a binary compensation structure. A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
There are two places on the binary team’s first level. These initial two slots are divided into two more positions each, for a total of four positions, to create the binary team’s second level.
The binary team’s levels are created as needed, with each level holding twice as many spots as the one before it.
Affiliates are recruited both directly and indirectly to fill positions on the binary team. Keep in mind that a binary team can develop to any depth.
Chip2Wealth calculates the volume of fresh investments on both sides of the binary team at the end of each day.
On their less strong binary side, affiliates receive 8% of new investments.
Volume is flushed after being paid out on and compared to the stronger binary team side. The stronger binary team side retains any remaining volume.
Affiliates of Chip2Wealth can “franchise” their income by paying a fee:
Although it’s unclear what the percentages are paid out on, it’s thought to be related to downline investment (maybe with georegional restrictions).
Affiliates of Chip2Wealth can “franchise” their income by paying a fee:
Although it’s unclear what the percentages are paid out on, it’s thought to be related to downline investment (maybe with georegional restrictions).
It costs nothing to become a Chip2Wealth affiliate.
A minimum investment of $49 is required to fully participate in the attached income opportunity.
Chip2Wealth is looking for USD and other cryptocurrency investments.
However, it appears to be only a standard “placing orders” work scheme on the Seokore app website:
In order to place an order, Seokore affiliate investors must log in and “click a button.”
They have to click more buttons every day as their investment increases.
Seokore investors can receive the advertised daily returns by clicking the buttons as needed.
Beyond that, there is no external revenue and nothing happens when you click a button inside Seokore. Seokore only recycles recently invested money to reimburse previous investors.
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