WalletSync is a mirror site of workmines.com which has recently shut down after the scam activities were exposed. In short - it promises you to pay you for watching video ads, but it won't pay. Simple as that, and the existing users are complaining.
It's a properly registered limited company in the United Kingdom but that doesn't necessarily make anything genuine. The company name allows the owner to mask the true identity so that they can take money from you for nothing. Today my WalletSync review will explain what kind of scam it is and what would happen if you got involved with this "service".
Premium reward program
$39 - $2,999 per year
What Is WalletSync?
WalletSync is a reward program, claims to pay you $0.50 each time you watch a few minutes worth of video clip. But you need to pay an annual membership fee in advance. The number of video clips that you can watch per day is limited, depending on the pricing option.
There are 7 x pricing plans and, when you take a quick look at the plan, the system may look attractive. I'll show you a couple of examples;
Essential Pack (Pay $39/year in advance, i.e. $3.25 per month);
- You can only watch 3 videos per day x $0.50 = $1.50 per day.
- Means you can earn $45 per month (30 days x $1.50).
- Your profit: $45 - $3.25 = $41.75 per month.
Emerald Standard Plan (Pay $1,499/year in advance - $125 per month);
- You can watch up to 120 videos per day x $0.50 = $60 per day.
- Means you can earn $1,800 per month (30 days x $60).
- Your profit: $1,800 - $125 = $1,675 per month.
It also offers a referral system, and each time your downline watch a video, you'll earn $0.10.
When a unit price is fairly small but built up to make a substantial "income" every month, it may look nice and feasible to you; spend less than 15 minutes each morning to watch 3 x videos and you'll make $41.75 per month. Simply watch as many as 240 videos daily and make a full-time income.
But the problem is critical - WalletSync will simply not pay as promised. The "payment proof" displayed on the website are fake. They are a scammer.
Is WalletSync a Ponzi Scheme?
No, but almost it is. A Ponzi Scheme requires you to invest (pay) money upon joining. The money you've paid will be used to pay another member who joined earlier than you. There's no particular product or service involved with a Ponzi scheme.
WalletSync can argue by saying that it's offering an entertainment service. Your initial investment for the video replay. The more you invest, the greater the number of video clips that you can watch. And it might say that technically, it's offering some cashback as part of the incentive scheme.
Why Don't They Pay? Because They Can't.
If WalletSync could afford to pay you $0.50 for watching a video, each advertiser (the owner of the video) would be paying WalletSync more than that amount. Say, $0.60 per view. That couldn't be possible.
YouTube charges advertisers $0.10 - $0.30 per view. And their videos are targeted at the right audience. It means if a company is advertising a makeup kit, it will only be shown to female viewers aged up to, say 40 years old. If a video is about muscle building for men, then it's only targeted at male viewers.
Why would anyone pay WalletSync a higher rate for their videos to show randomly to anyone? They don't know who you are, and you could be watching any video for money - be it a wrestling championships video, anti-aging exercise for seniors video... And you know what you would do. You could press Play and go away, and you could still be paid $0.50?
That would be impossible, because it'd be far too good to be true for you, and such a waste of money for the advertiser.
WalletSync is not paying you as promised, because there's no money to pay you. It simply cannot afford to.
WalletSync As A Company
WalletSync's FAQ page (full of misspellings and big words that don't make sense!) explains that the company was established in 2017, and also says you can ask them for the registration documents. They're not lying there - if a limited company is formed in the United Kingdom, the registration with "Companies House" is compulsory, and the basic information becomes visible to the public.
If you think that WalletSync's business must be decent in nature, that's not the case. Setting up a "limited company" is a great way for a scammer to mask their identity. And it's called "limited" because in case of winding up the company, the money to pay back is limited - usually as low as £1 (approx. $1.20).
If I was to open a limited company and scam people - I would become the director of the company. I would take thousands of pounds worth of membership fees, use it all for myself, and one day I would say "We're sorry, we cannot provide a service as promised. We can't pay you back. Everything's gone wrong. Really sorry."
All I'd have to do is to dissolve this company. It's all the company's fault, not mine. There's some money for me to pay back though. One pound. Yes, just £1, because I agreed to "limit" my liability for the price of a can of soda when I incorporated the company.
Then I could open another company and start scamming again. How crazy is that?
So don't trust scammers like WalletSync just because it's a registered company. You don't know who's behind it. (Anyone can actually pay Companies House to reveal who exactly is behind it, but you & I are not crime investigators, we have better things to use our money for!)
The "Trial Pack"
You can join WalletSync for free and "earn" your money without paying anything in advance for the first 2 weeks, and this is a trick. While you are a free member, you can only watch up to 2 videos and earn 40 cents per video.
- 2 videos per day x $0.40 = $0.80 per day.
- Means you can earn $11.20 during the first 2 weeks (14 days x $0.80).
However, this is to trap in some users who are desperate for a return of investment in a short period because the "rules" are;
- The minimum payout threshold is $15 (but you can only earn up to $11.20 during the trial period).
- If you don't pay to upgrade, your account will be deleted after 2 weeks.
The rules of which will make the users think, "There are only a few more dollars to go. Pay $39 to upgrade my account now, keep watching the videos and in 3 days, I'll already get your $15 back. I'll be able to withdraw $15 every 10 days thereafter."
And of course the catch is - you'll never be paid.
You can find plenty of complaints across Twitter and Facebook, which prove that you should really stay away from it. The response to the complaints is pretty psychotic too.
WalletSync doesn't offer such a thing. There is no disclosure of refund policy anywhere in the site - it's a scam!
WalletSync Scam Review - Conclusion
There are two golden rules in online business that you might want to remember. These two apply to ALL the opportunities in the future.
Golden Rule #1: When you are required to make a payment in advance
Ask yourself what you are paying for. Is the service reasonable to you? If you think it's reasonable, why? Have you witnessed it yourself? Never believe in a scheme such as "pay now, get your money back later", unless it's offered by a renowned financial service.
In WalletSync's case, you are required to pay at least $39 in advance - what is this for? What are you receiving immediately? "If I pay now, I'll get more money back later..." is not the answer. Think about what you're receiving in return just after the payment.
What do you get from WalletSync? You get an opportunity to watch some video clips. Would you pay $39 for watching some unknown videos, while YouTube is totally free?
Golden Rule #2: When you are offered to make money
There are 3 questions that you can ask yourself - you are getting paid, means there's a business going on. The questions to yourself are basically about the "value" in the business.
- Who's paying for it?
- Is it worth paying for them?
- Do I deserve to earn this much money?
In WalletSync's case;
- Who's paying for it? - Whoever advertising the video clips.
- Is it worth paying for them? - No, because it's not like you're going to glue yourself to the videos. If you're not interested, you'll leave it to play and do something else. The advertiser is wasting their money.
- Do I deserve to earn this much money? - 50 cents just for watching a few minutes of video while slobbing on the sofa, no! It's barely a job!
There's no easy, magic way to make money online like WalletSync. Never believe the hype. If it sounds too good to be true, it definitely is with any online businesses.
WalletSync is one to stay away - don't waste your time or money with the scam.