Philip Reitcheck | greentrees

AddWallet Update

May 29th 2013 at 9:31 AM

I first reviewed the AddWallet program back on Feb. 6th, 2013 when the program was still in pre-launch.   Because of the RED FLAGS and low rating that I give the program back then, I was basically told that I did not know what I was talking about when it came to the AddWallet program.

I can now say that it does not look good for the AddWallet program, despite the programs promise of “external revenue sources” (that have never been revealed).  Prior to May 23rd, 2013, AddWallet was paying out affiliates a daily ROI between 1.09% to 1.67%., but starting in on May 23rd, 2013, the daily ROI paid out to affiliates showing a sharp decline to between .41% to .70%.  A sudden large drop in daily ROI is always a big RED FLAG for any profit sharing program.

Typically a large reduction in daily ROI signals the beginning of the end for a profit sharing program and usually means that new affiliate money is not keeping up with affiliate withdraws, which propels it towards the inevitable “we don’t have enough money to pay affiliates” condition.  It also signals that some affiliates are starting to withdraw out as much of their original money that they can.

Despite AddWallet’s insistence that they get revenue from “external sources”, it seems some affiliates do not believe this and are urging their down lines to keep their money in the program by keeping their daily re-investment at 100%.  If theses affiliates believe that AddWallet is truly funded mainly by affiliate money, they would want to get as much of their money out as possible, by urging others to keep their money in the program as long as possible (less affiliates pulling their money out = more money for them).

Of course another reason for the large drop in daily ROI could be the shut down of the payment processor Liberty Reserve. For those who follow the MLM industry, you have already heard of the shut down of Liberty Reserve and freeze of all its affiliate accounts.  Now I agree that AddWallet does not pay out or accept money from affiliates using Liberty Reserve, however whether AddWallet itself stored revenue with Liberty Reserve is not known.   Is the timing of this shut down at the same time that AddWallet's ROI drop just a coincidence?  The freezing of a AddWallet reserve cash account, held with Liberty Reserve, could also explain the sudden drop of revenue-sharing ROI. 

Of course another possibility could be the effect the shutdown of Liberty Reserve might be having on a large number of AddWallet affiliates.  Remember a lot of International affiliates do use these types of payment processors.  The lost of their funds in Liberty Reserve, could undoubtedly have a effect on these affiliates flow of funds and the need to "cash out" their AddWallet accounts.  It is just interesting to note the coincidence of the drop of daily ROI and the shut down of Liberty Reserve.

Another RED FLAG that a program is in trouble is when it starts making excuses for reduced affiliate earnings, like “our site is being DDOS attacked”, "an outside group or person stole the money",  “hackers hacked our site”,  and on and on.   And AddWallet is no different, with them blaming the plunging ROI on a “large DDOS site attack”.

Now all these new RED FLAGS could be nothing more that a "bump in the road" for the AddWallet program.  If the programs earnings is truly driven by “external revenue sources” then it should survive, but if it is truly driven by "affiliate deposits", it will not.  But in my years of online experience I have never seen a online income program survive with these types of problems for very long. 

Just My Option,
Philip Reitcheck

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