MoneyExchanger is a South African-based cash gifting scheme that provides matrices for three separate currencies: the US dollar, the South African Rand, and the Nigerian Naira.
What Is Money Exchanger?
There's no information available on the MoneyExchanger website that would reveal who's running the scheme. However, checking the site's registration info reveals that MoneyExchanger is owned by Obakeng Morake, a South African citizen that has been involved in other affiliate marketing schemes in the past.
Morake's latest endeavor before MoneyExchanger was for WeShare Crowdfunding, a cash gifting scheme that he was promoting as an affiliate. Morake seems to have become more ambitious, founding MoneyExchanger himself – possibly in an effort to reap better rewards than being just a lowly affiliate.
Money Exchanger Product
There's no product to buy, sell, or trade with MoneyExchanger. The only activity you can do is to participate in the cash gifting scheme in one of the three currencies supported by the company.
Joining MoneyEchanger is free. However, there are no earning opportunities without purchasing an initial matrix position.
Money Exchanger Opportunity
MoneyExchanger affiliates earn money by gifting payments to their sponsors, which enables them to receive cash gifts in turn from their recruits. The scheme involves a 2×5 matrix – a single affiliate brings in two direct recruits, then these two bring in two recruits of their own, and so on and so forth for five levels deep.
There are three separate matrices, one for each currency. The breakdown of each matrix is as follows:
- $10 buy in, $10 from 2 affiliates
- $15 reinvestment, $15 from 4 affiliates
- $40 reinvestment, $40 from 8 affiliates
- $80 reinvestment, $80 from 16 affiliates
- $150 reinvestment, $150 from 32 affiliates
Both the South African Rand and Nigerian Naira matrices follow an identical pattern, distinguishable only by the amounts for each tier:
- R100 or ₦3000 for level 1
- R150 or ₦4500 for level 2
- R400 or ₦13,000 for level 3
- R800 or ₦26,000 for level 4
- R1500 or ₦48,000 for level 5
MoneyExchanger uses Bitcoin and bank transfer to facilitate payments between members.
Money Exchanger Verdict
So here we are, reviewing yet another cash gifting scheme.
MoneyExchanger is noteworthy in that it works with one of any three currencies: either the US dollar, the South African Rand, or the Nigerian Naira. This doesn't change much about how the system works, but it does open up the doors to many individuals from South Africa and Nigeria to be scammed out of their hard-earned money as a result.
Sadly, this means that Obakeng Morake will likely make quite a bit of money off his countrymen and fellow Africans if he can find enough credulous people looking to make their financial situation better. This is easily the biggest danger with cash gifting schemes – they give the financially at-risk false hope that things will be able to get better if they just donate their last few dollars (or Rand/Naira) to this scheme.
The truth, of course, is that MoneyExchanger only works until people realize there's no way to get to the bottom of the matrix. Each affiliate that comes in to fill their own matrix with people who need to fill their own matrix in turn.
The pyramid's base is ever-widening – until the latest batch of recruits figure out how much work it will take to fill their matrix. When they drop out, this creates a domino effect up the ranks until nobody is left.
Nobody, of course, except for Obakeng Morake, who sits in the top spot of one or more pre-loaded matrices. At least three, since there are three different currencies.
Morake doesn't have to pass up any gifts to receive ones in turn. He just rakes in the money until it stops flowing. Then he takes his money, disappears, and starts up a new scam sometime later.
Meanwhile, everyone who bought into these matrix positions but can't find enough recruits to be gifted from end up losing their investment. This will undoubtedly happen with MoneyExchanger – it's a vicious cycle, and the only one profiting is the guy at the top.