Today, we will answer a question from one of our viewers on our YouTube channel. Here’s their comment:

“Please review Wise Ai Wallet, is it legit or not?”

In this blog, we will find out if this platform is indeed legitimate or if it’s one of the many Ponzi schemes emerging nowadays.

Before we answer and discuss the pointers to determine if this application is legit, let’s first answer what Wise Ai Wallet is.

According to their website, Wise Ai Wallet is said to be a leading multi-chain wallet worldwide. The supported coins in this wallet include BTC, ETH, TRX, and USDT.

Now, to find out if this really is the leading multi-chain wallet worldwide and to determine if it’s legit or just another Ponzi scheme platform, we will discuss my five pointers for choosing a legitimate trading platform.

Let’s start with the security of this application. Is it safe or not?

How can you use Wise Ai Wallet? Is it available on Android and iOS? The answer is yes, you can install it on your Android and iOS phone. However, Wise Ai Wallet is not available on the Play Store and the Apple App Store.

To download this application, you need to install it manually. For Android, you install it using an APK file; it’s the same for iOS.

For me, that’s a red flag. When a wallet is not available on the Play Store and the Apple App Store, especially for cryptocurrency, it’s a big no-no for me. This is one of the red flags I see in this application.

So, regarding the application, it’s a thumbs down for me.

Secondly, about the topic of fund security. Is it safe for users?

In Wise Ai Wallet, there are two ways to deposit money. The first is through cryptocurrency.

The second way is through Online Pay. However, this Online Pay method is one of the red flags I see in this application, leading me to not recommend it. Why do I say this?

Let’s say I recharge 1,000 pesos. What happens is it redirects to the GCash website, but the domain name of the payment gateway is not the official one for GCash.

This is one of the red flags I see, and in this kind of transaction, we need to be cautious because this is where phishing starts. This means there is a possibility that your information, including the OTP, could be stolen.

So, regarding the security of funds, it’s a thumbs down for me.

Now, let’s talk about the profit. How much can you earn, how do you earn, and is it a legitimate way to earn money?

The first way to earn here is through grid trading. How does this work?

Here, you can invest a minimum of 30 USDT. Once you have recharged with a minimum of 30 USDT, you can earn 1% daily through grid trading.

So, if you have 30 USDT, you can earn 17 pesos daily.

Now, how does your profit increase?

They have what they call a VIP Level system. The more people you invite to invest in this application, the more perks you get, including the VIP Level System.

At Level 1, to earn 1.3% daily, you need to have three people who also invested in this application. At Level 2, to earn 1.5%, you need six recruits. At Level 3, you need 10 recruits to earn 1.5% daily. At Level 4, you need 20 recruits to earn 2% daily.

Moreover, for each level you achieve from Level 1 to Level 4, you get a bonus ranging from 6 USDT to 40 USDT or approximately 2,300 pesos.

Additionally, besides the grid trading and the bonuses, every time you recruit more people who invest in this, and those recruits also invite others, you can earn 10% from their grid trading earnings at the first level, 5% at the second level, meaning the invite of your invite. At the third level, it's 3%, at the fourth level, it’s 2%, and at the fifth level, it’s 1%.

Now, let’s talk about whether these earning methods are legitimate.

One of the red flags I see here is the fixed income and the claim of 100% no-loss trading.

In trading, there’s no such thing as fixed income. One thing to watch out for in trading is when it promises daily profit with no losses, you should avoid that. It’s like a race; whoever joins first earns, and those who join later won’t earn money because these kinds of earning methods have limits.

And I don’t see any trading happening within the wallet based on my observation when I used this application.

So, in trading, there’s no fixed income and no 100% profit where you earn daily.

There’s a saying among traders to their followers, “If it’s guaranteed that you’ll earn money 100% in trading, avoid it because such promises are too good to be true.”

Another red flag I see in the profit category is that it’s possibly a Ponzi scheme. Why do I say this?

In grid trading, you’ll notice that as you invite people, your daily profit increases. This is one of the signs of a Ponzi scheme.

In real trading, you don’t need to invite people to earn a lot. You don’t need to invite people to increase your trading profit.

What happens here is that when you bring in a lot of people into the application and they invest, there’s money to pay the earlier investors. So, it’s just a cycle, and in the following months, this kind of scheme could collapse.

Another red flag is that the referral program is a sign of a pyramid scheme. The 10% profit from the referral program is too high compared to legitimate trading platforms.

In legitimate trading platforms, there’s what we call a trading fee, a part of which goes to those who refer people. For example, if I refer someone to Bybit, every time that person trades, they pay a trading fee, and part of that fee is given to me by Bybit. That’s how the profit works in the referral program of a legitimate trading platform.

Why do I say that the referral program in Wise Ai Wallet is a sign of a pyramid scheme?

Because the profit is taken from the profit of the person you invited. For example, if I invite you and you earn 500 pesos, I earn 10% of that. That’s a sign of a pyramid scheme.

Another sign is that it goes up to the 5th generation or level, meaning the profit can come from the invite of the invite of the invite of the invite of your invite. 5th generation, 5th level of your invite. That’s a sign of a pyramid scheme.

In legitimate referral programs, it doesn’t go beyond the 2nd level or any other level; it’s always just the first level for better understanding. Meaning, you only earn from each person you directly refer, not from the referrals of your referrals.

So, such a referral program doesn’t work. I hope you understand, my friend.

Regarding profit, it’s a thumbs down for me because we see many red flags indicating that this kind of application is not recommended.

Let’s now talk about the transparency of this application.

In terms of transparency, first of all, I’d say they are not transparent with their users. Why do I say this?

Having an MSB registration doesn’t mean you can solicit investments. The MSB registration they show indicates that their business is within money transmission or currency exchange. However, if you look inside the application, contrary to their registration, they are running an investment scheme, not a wallet. This is why I say Wise Ai Wallet is not transparent with their users.

Another reason is that they show that they are a Foundation Licensed Approved entity, which is contrary to their actual operation. When you have this type of registration or certification, it means you are a non-profit organization. What should a non-profit organization not do?

A non-profit organization should not solicit investments. When you solicit investments, it’s a different matter because when you talk about investment, it means returning profits to the investors. So, the certificate they show is contrary to their actual operation.

Another reason is that you don’t know who is behind the application. Who is the founder, who are the creators, who are the managers? This information should be public to ensure transparency and trust to determine if the application is really legit.

These are the reasons why I say this application is not transparent about their actual operations.

So, for me, this is another red flag I see in this application.

Based on our discussion, I’d say this application is not recommended due to the red flags we have observed, and we need to avoid it. But this is just my personal opinion about this application.

Now, let me ask you. Do you believe this application is legit, or do you think it’s one of the Ponzi scheme platforms emerging nowadays?

Comment below the video with your opinion so I can see what you think about this application.