Welcome to my WalletSync Review!
One of my website visitors asked me to take a look at the website walletsync.co.uk. She wanted to know if it is legit or not since the business model is similar to workmines.com which I already reviewed and found out to be a total scam. That website was already down since June 6, 2019.
The sad thing is that there were already hundreds or even thousands of people that already invested in that business opportunity and then it became a scam eventually.
Some of them invested $100 to a thousand dollars. I can’t blame them because there were people that were earning money from that website. Others claimed that they’ve earned 3 times their investment, not knowing that this is how the Ponzi scheme works.
I will explain later what is a Ponzi scheme and why walletsync will not last just like workmines.
We will investigate how this website works and I will give my honest opinion regarding this website.
Before you continue reading my review, let me introduce myself, I am Ross, owner of StreetSmartAffiliate.com. My website is all about money-making online opportunities and reviewing it whether it is a scam or not.
The decision is still yours and this review is based on my opinion only, (There is a small chance that I could be wrong though, may be less than 1 percent). Lol!
Product/Platform Name: WalletSync
Owner: “Not Known”
What is WalletSync?
WalletSync is a platform that allows both content owners or advertisers and content viewers (their members) to Monetize videos by streaming media as a product directly to consumers over the Internet. According to their website, it bypassed telecommunications, multi-channel television, and broadcast television platforms that traditionally act as a controller or distributor of such content. WalletSync also offers more earning alternatives which have already been integrated in the system.
Frequently asked questions (based on walletsync.co.uk website)
How Does WalletSync Work?
Walletsync is a paid to view platform. Meaning that you watch ads and get paid. To earn on the platform you will have to view the sponsored content and your account will be instantly credited after the video or content viewing duration is over. To earn more you will need to upgrade to the premium packages the funds earned can be withdrawn via Perfect money or bitcoin. On the two set withdrawal days, as of now, the withdrawal days are Thursday and Friday.
How To Create an Account?
To create an account with us, you need the following
- a password
You can also register an account using your Facebook account.
Go to https://walletsync.co.uk/register.aspx to create your account. Note that we do not a limit on the number of accounts one can have.
How Can You Earn?
To start earning on the platform, on the menu, on phone it appears as three horizontal bars stacked (Top left) click on earn. Select YouTube-video/Video, play any video of your choice, after viewing the videos you will instantly be credited to your account and you can track the balance on “Main” on the homepage.
When do I get paid?
Paydays are scheduled every Thursday and Friday of every week all year round; ensure you have your Payment details set up well before making a payout request.
How Old Is WalletSync?
Walletsync was established in 2017 as a digital marketing company in Birmingham in the United Kingdom to provide custom solutions to companies that seek to advertise their products as well as employment to clients who are willing to view the content.
As part of its 2019 mission to impact many people in digital cyberspace, we started a worldwide operation to help internet users harness the power of social media and the internet to make money directly from sponsored content as of April 2019.
How to upgrade via bitcoin/coins.ph?
Click on the upgrade button, choose the package you want and select use payment processor. In the next step, you will choose Bitcoin(works also for coins.ph and every bitcoin wallet). Fill in your name and email, then proceed, you will be given a unique bitcoin address that you will send funds to and the exact amount you will send to the wallet. Copy the address and note the amount you’re supposed to pay, Go to your coin.ph(or any other BTC wallet) wallet and send the exact amount of bitcoin the system told you to send. After the transaction is verified, your account will be automatically upgraded to the package you chose.
How Do I Withdraw?
To withdraw, you must have reached the minimum threshold of 15 USD. Then follow the following steps.
- Go to https://walletsync.co.uk/user/cashout.aspx or click on withdraw add an account ID if you had not set it up before.
- Enter the amount you want to withdraw and your pin then click on withdraw.
- An email will be sent to your registered email confirming the transaction and a secret confirmation code
- Enter the code to verify your authenticity in the prompted box.
- Once confirmed the money will be sent to your account shortly.
Currently, withdrawals are made on Thursdays and Fridays only.
Can I have multiple accounts?
Currently, we don’t have a limit on the number of accounts a user can have. However, when requesting for payouts one should ensure the addresses used are unique in each account.
Does walletsync work in our country?
Walletsync has been customized to suit all the countries on earth. You can easily change the language, or the currency to suit your needs. It is important to note that our base currency is the US dollar.
My account has been suspended
Your account may have been suspended due to a policy violation or malicious activities on the account. However, if you think there’s a mistake chat with our support agents for help
My trial account is about to expire
You need to upgrade your account to prevent your account from expiring. If you don’t have enough funds at the moment, go to your settings, and choose vacation mode.
This means the inactive days won’t be counted till you log in again. Vacation mode is charged at $0.02 fee per day.
If your account expires you lose all your earnings and your referrals.
We allow reactivation of expired accounts and they can be upgraded to any of our premium packages.
Paid But Has not Been Upgraded
If you used the bitcoin payment processor during your upgrade, this is normal. Bitcoin transactions take an average of 30 minutes to be confirmed in the bitcoin network. For our system to accept a transaction the transaction needs to have at least three confirmations. To check how many confirmations a transaction has, please go to https://blockchain.com/explorer and paste the address you paid to in the search bar and search your transaction. It will show whether a transaction is confirmed or not.
However, if the transaction has over three confirmations and your account has not been upgraded yet, feel free to contact us.
Also, note that you could also have paid less than what the system demanded. Always ensure that you pay the exact amount of bitcoins. In case you paid less, Kindly top-up.
Videos Are Not Playing
If you’re experiencing this, you’re probably using a proxy or VPN on your computer or mobile phone, which you shouldn’t. We recommend you use Google Chrome, Firefox, or Puffin on android, Safari on iOS. On desktop use chrome, chromium, firefox. However, if the problem persists chat with our support agents for help.
What is bitcoin? Why use it?
Bitcoin is a digital currency just like any other currencies in your country. We use BTC because of the low fees associated with it and the fact that it is accepted all over. One is free to use his/her BTC wallet of choice e.g altcoins, coins.ph, blockchain, etc.
How do I become a country representative?
To be a representative, you must fit this criteria
- You must be a citizen of the country you’re representing.
- Be conversant with the native language of the country you are representing
- Be conversant with the payment modes offered.
- Must have a premium subscription of at least Enterprise
- It should be available for at least 5 hours daily for customer service.
Being a representative comes with a couple of advantages namely;
- Daily Withdrawals
- 5% commission on every deposit and withdrawals you make for members
- Sell Vouchers to members to
- upgrade at a 5% discount.
Other bonuses that shall be communicated in private.
We are truly sorry if you have to request this. However, if you want to permanently delete your account with us please submit your request to firstname.lastname@example.org, or on our live chat. Note that this process is irreversible.
WalletSync is a Ponzi Scheme (A Possible Scam)
According to Wikipedia, a Ponzi scheme is a form of fraud that entice investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own.
If you get involved with investments, make sure to know the company well. Ask yourself, how they can pay you, how they make money, and what are their products or services.
If you understand and answer those questions, you will know whether it is legit or scam. In the case of walletsync for example, what are the services or products they offer? They don’t have a solid product or service right? They just say that you will earn money by just watching videos.
You probably think that maybe this is similar to YouTube and some advertisers are willing to pay. To help you understand further, YouTube pays around $2 to $10 per 1000 views depending on the topic of the video. The keyword here is “1000 views”. Let’s compare it with walletsync, they say that you can get paid 0.5 per video you watch.
Now let’s do the math and compute your income if you’ve reached 1000 views, how much would you earn, $500 right? Can you now see the difference?
No advertiser is stupid enough to pay that amount of money especially knowing that there is an incentive in viewing the video.
If you would like to know how the Ponzi scheme works, here is a brief video.
Reasons Why WalletSync Is A Scam
Aside from the Ponzi business model, other red flags make walletsync a scam.
These are the reasons:
If you consider the cost based on their website, let us say you upgrade to elite pack which is $399 for 12 months and you have 2 referrals which are also elite members. Now, let’s compute how much you’ll potentially earn.
30 videos per day multiply it by 0.5 and then multiply it by 365, which is $5475 in a year. This is only your earning and does not include your referral’s activities.
In our example which is 2 elite referrals, your earnings from your referrals would be 30 X 0.1 X 365 X 2 = $2190.
So your total earnings will be 5475 + 2190 = $7655.
Imagine, you are paying only $399 and you will earn that much? Now, where will walletsync get the money to pay you? Not to mention, they will also pay $5475 for both of your referrals.
If you understand this, you’ll know that this is not sustainable. Again, advertisers don’t pay that much for only 3 people in a year, that is stupidity on their part if that’s the case.
You will not earn as a free member
Walletsync is supposedly a get-paid-to (GPT) site. Most GPT sites are free to join and you are not required to pay. Walletsync will cancel your free membership if you don’t upgrade to their annual membership plans.
In just two weeks, you can no longer continue to earn so you have to pay them. If they have advertisers, why would they need your money in the first place?
They are the ones who will suppose to pay you, right? This is an absurd business model.
Walletsync and Workmines
Workmines were very similar to walletsync and I have a feeling that these two websites have the same owner/s. If you have not heard about workmines, you can read my workmines review.
A lot of people lost their money and I am hoping that people will learn from it. Walletsync will eventually become a scam, there is no doubt about it, so you have to stay away from it.
Do you have any experience with these kinds of website or are you a member of walletsync? I wanna hear inputs in the comment section. You can share your experiences whether positive or negative so that we will be aware.
If you are going to ask me if this is a scam, in my opinion, yes. This website will eventually close similar to that of workmines. Although there will be a small fraction of members that will make money the business model will not last. Most members will lose money, so you have to be very careful with these kinds of websites.
I don’t know until when this website will last but I am sure that it will be gone in less than a year.
That ends my WalletSync Review, the decision is now yours.