World Cryptocurrency 101, a venture registered in Ontario, Canada, is owned by Scott Phounpadith. Phounpadith operates the business through a Windsor address, distinct from the two Ontario locations listed on the WCC101 website. The company's domain, wcc101.com, was registered on March 26th, 2018.
Phounpadith's professional background includes work as an "Independent Software Developer" for the University of Windsor, as stated on his LinkedIn profile. His social media activity indicates an interest in cryptocurrency, though no prior involvement in multi-level marketing schemes has been identified. This suggests World Cryptocurrency 101 may represent Phounpadith's initial foray into the MLM sector.
The WCC101 business model lacks any independently retailable products. Affiliates are restricted to marketing the WCC101 affiliate membership itself. This structure forces recruitment as the sole means of generating income within the organization.
Affiliates earn commissions by recruiting new members into WCC101. A minimum of three affiliate memberships must be sold to qualify for any earnings. Purchasing a $477 membership counts as one of these three required sales.
Commissions are distributed through a binary compensation plan. This structure places an affiliate at the apex of a two-sided team, left and right. The initial level contains two positions, expanding to four on the second level and doubling with each subsequent tier. Recruitment, both direct and indirect, fills these positions.
Affiliates receive approximately $100 worth of Bitcoin for each membership sold on the weaker side of their binary team. The exact amount fluctuates with the USD-BTC exchange rate. Daily commission payouts are standard, with an initial earning cap of $3,000. This cap can be increased to $4,500 by recruiting ten affiliates total, five on each binary side.
A matching bonus on recruitment commissions extends down three levels of the unilevel structure. A 20% bonus on personally recruited affiliates' earnings requires at least two qualified recruits, one on each side of the binary team. This bonus increases to 20% for the second level and 10% for the third level. Qualification for these deeper bonuses requires four and six personally recruited, commission-qualified affiliates respectively, spread across both binary sides.