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SwapIT’s website has no information regarding who owns or operates the firm.

On September 2nd, 2019, SwapIT’s website domain “swapit.io” was privately registered.

Further investigation shows Eric Alexandre Ceret as SwapIT’s founder and CEO:

Alexandre is your standard crypto dude, with a litany of unsuccessful crypto enterprises under his belt.

Alexandre’s crypto claim to fame is JetCoin (not to be confused with the Ponzi scam of the same name).

JetCoin, which was launched in the middle of 2017, was quickly abandoned. In early 2018, there was a pump to just over $1, which was followed by another pump to just over $1 before flatlining at 1 to 2 cents.

JetCoin is presently worth six cents, which we will explain at the end of this article.

Rune Evensen is another notable member of SwapIT’s corporate team.

Evensen has been a serial fraudster from the days of Unaico SiteTalk. Evensen starred in the revival of Unaico/SiteTalk, The Opportunity Network.

Evensen has ties to the renowned OneCoin Ponzi scam through those contacts (Dan Andersson, Sebastian Greenwood, and Kenny Nordlund).

By going to the final fraud he was linked to, I’m glossing over Evensen’s scamming, which clearly did not slow down after OneCoin.

BehindMLM reader Semjon linked Evensen to Snap Innovations via a bogus cryptocurrency firm called Coss.

Eversen was the CEO of Coss in February 2019.

Snap Innovations is/was a cryptocurrency Ponzi scheme. Torque Trading, an MLM crypto Ponzi scheme that duped customers out of millions of dollars, is the company’s most well-known product.

Eric Alexandre Ceret and Rune Eversen are both located in Singapore, according to their social media profiles.

It’s uncertain whether there are any additional noteworthy SwapIT executives.

As always, if an MLM firm is not honest about who runs or controls it, consider twice before joining and/or turning over any money.

Products from SwapIT
SwapIT does not provide any retailable items or services.

Affiliates can only promote the SwapIT affiliate membership.

The Compensation Plan of SwapIT
SwapIT affiliates purchase cards that each represent one token.

Because there was no investment, there were no cards.
Starter – spend $50 and receive six playing cards
Bronze – $200 investment yields 25 cards
Silver – $500 investment yields 60 cards
Invest $1000 in gold and receive 125 cards
Platinum – $2500 investment yields 325 cards
Diamond – $5000 investment yields 700 cards
Invest $10,000 and gain 1500 cards as a legend.
Card tokens are structured similarly to a deck of cards, except that the cards number in the millions.

Card tokens are said to be produced at random as they are invested in.

Card tokens are parked in SwapIT pools after purchased. This is done in exchange for a monthly return in bitcoin.

SwapIT says that 30% of money invested are recycled to provide monthly pool returns.

SwapIT has six monthly ROI pools.

They are as follows, along with their qualification criteria:

Community Pool – Each month, affiliates can deposit up to 100 card tokens into the Community Pool (1 card token Equals 1 share).
4 of a Kind Pool – groups of four card tokens with the same number can be submitted; each affiliate is permitted ten four of a kind groupings each month.
Straight Flush Pool – five consecutive numbered cards of the same suit may be presented; 10 straight flush groups per affiliate are permitted per month.
Royal Straight Flush Pool – 10 to Ace of the same suit; each affiliate may have up to ten royal straight flush groups every month.
5 Aces Pool – five aces of any suit, five 5 Aces groupings allowed per affiliate every month
5 Suited Aces Pool – four identical Aces plus one identical Joker, one 5 Suited Aces Pool permitted every month
Wildcards are Joker card tokens.

Returns are divided into “pools” that need specific card token combinations to be paid on.

Card tokens are said to be distributed at random in investment packets.

SwapIT affiliates that have at least four card tokens parked each month earn a shitcoin refund.

SwapIT decides which shitcoin will be paid out each month. According to the corporation, shitcoin acquisition accounts for 20% of total company investment.

SwapIT’s MLM business is based on recruiting and downline investment volume.

When an affiliate is recruited, as well as through direct investment in SwapIT cards, investment volume (BV) is created.

Recruiting an Apprentice tier affiliate does not result in an increase in investment volume.
50 BV is generated by recruiting a Starter tier affiliate.
Recruiting a Bronze-tier affiliate results in 200 BV.
500 BV is generated by hiring a Silver tier affiliate.
1000 BV is generated by recruiting a Gold tier affiliate.
2500 BV is generated by recruiting a Platinum tier affiliate.
5000 BV is generated by recruiting a Diamond tier affiliate.
11,000 BV is generated by recruiting a Legend rank affiliate.
$25 per month autoship investment = 25 BV
$50 autoship investment every month = $50 BV
Autoship investment of $100 each month equals 100 BV.
SwapIT Affiliate Positions
SwapIT’s pay plan has nineteen ranks.

They are as follows, along with their respective qualification criteria:

Activated Members – find an associate who has purchased at least one card.
Supporter 1 is responsible for generating 5000 BV in downline investment volume.
Supporter 2 – produce a downline investment volume of 10,000 BV.
Supporter 3 is responsible for generating 25,000 BV in downline investment volume.
Team Leader 1 is responsible for generating 50,000 BV in downline investment volume.
Team Leader 2 is responsible for generating 100,000 BV in downline investment volume.
Team Leader 3 – produce a downline investment volume of 250,000 BV.
Coach 1 is responsible for generating 500,000 BV in downline investment volume.
Coach 2 – produce a downline investment volume of 1,000,000 BV.
Coach 3 – produce a downline investment volume of 2,500,000 BV.
Manager 1 – produce a downline investment volume of 5,000,000 BV.
Manager 2 – produce a downline investment volume of 10,000,000 BV.
Manager 3 – produce a downline investment volume of 25,000,000 BV.
Executive 1 – produce a downline investment volume of 50,000,000 BV.
Executive 2 – produce a downline investment volume of 100,000,000 BV.
Executive 3 – produce a downline investment volume of 250,000,000 BV.
President 1 – produce a downline investment volume of 500,000,000 BV.
President 2 – produce a downline investment volume of 750,000,000 BV.
President 3 – produce a downline investment volume of 1,000,000 BV.
Bonus for a Quick Start
A Fast Start Bonus is awarded to SwapIT affiliates who attract four investing affiliates in their first four weeks.

The Fast Start Bonus is calculated by taking the average of the monies invested in SwapIT by the four affiliates.

Bitcoin is used to pay 50% of the Fast Start Bonus.
50% of the Fast Start Bonus is given in the form of fresh card tokens.
Recurring Commissions
SwapIT uses a binary compensation structure to pay residual commissions.

In a binary compensation system, an affiliate is placed at the top of a binary team, which is divided into two sides (left and right):

The binary team’s initial level has two slots. The binary team’s second level is created by dividing the initial two slots into two more positions each (4 positions).

As needed, subsequent levels of the binary team are constructed, with each successive level containing twice as many spots as the preceding level.

Positions in the binary team are filled by direct and indirect recruiting of affiliates. It should be noted that there is no limit to how deep a binary team may develop.

SwapIT totals fresh investment volume on both sides of the binary team at the conclusion of each week.

Residual commissions are given as a percentage of funds matched on both parties. SwapIT affiliates at the Legend tier earn 12%.

Apprentices’ weekly earnings are limited at $500.
The starting salary for new employees is $1000 per week.
Bronzes are limited to $2500 a week.
Silver costs $500 to join and has a weekly maximum of $5,000.
Gold – $1000 to join, with a weekly maximum of $10,000.
Platinum – $2500 to join, with a weekly maximum of $20,000 to $50,000.
Diamond – $5000 to join, with weekly earnings ranging from $25,000 to $100,000.
Legend – $10,000 to join, with a weekly maximum of $50,000 to $150,000
It is important to note that only 65% of earned residual commissions are paid out. The remainder (35% of the total) is distributed as follows:

SwapIT keeps 10%.
The remaining 25% is paid in fresh card tokens.
When a payout is made, the matching binary volume is flushed. Leftover volume is carried forward but discarded after 26 weeks.

Bonus for Matching
SwapIT matches the residual commissions generated by downline affiliates.

The Matching Bonus is distributed via a one-level compensation scheme.

In a unilevel compensation system, an affiliate is put at the head of a unilevel team, with every individually recruited affiliate placed right under them (level 1):

If any level 1 affiliates acquire new affiliates, they are assigned to the original affiliate’s unilevel team at level 2.

If any level 2 affiliates recruit new affiliates, they are promoted to level 3, and so on for an unlimited number of levels.

The Matching Bonus is limited to seven unilevel team levels on SwapIT.

Recruitment criteria determine how many levels the Matching Bonus is achieved on:

Get a 5% match on level 1 if you attract four SwapIT affiliates who have invested (personally recruited affiliates)
Get a 5% match on levels 1 and 2 if you recruit eight SwapIT affiliates who have invested.
Recruit twelve SwapIT affiliates who have already invested and you will get a 5% match on levels 1–3.
Gain a 5% match on levels 1–4 by recruiting sixteen SwapIT affiliates who have invested.
Recruit twenty SwapIT affiliates who have made an investment and get a 5% match on levels 1–5.
Coach 2 rank, twenty SwapIT affiliates that have invested, and a 5% match on levels 1 to 6
rank as Manager 2 and having recruited twenty SwapIT affiliates that have invested, then you will earn a 5% match on levels 1 through 7.
SwapIT distributes the Matching Bonus in the same manner as residual commissions:

Bitcoin is used to pay for 65% of the total.
SwapIT keeps 10%.
The remaining 25% is paid in fresh card tokens.
Bonus for Rank Achievement
SwapIT awards affiliates with the following Rank Achievement Bonuses beginning with Coach 2:

Coach 2 qualifiers will get a “incentive vacation.”
qualify for a “luxury getaway” at Manager 2
qualify for a “resort apartment” at Executive 2
Qualification for President 3 and a “resort villa”
Participating in SwapIT
SwapIT affiliate memberships range from free to $1000.

Free apprenticeship
Beginner – $50
Bronze is worth $200.
Silver costs $500.
Gold – $1000
The more money a new SwapIT affiliate spends on membership, the more money they may make.

Apprentices’ weekly earnings are limited at $500.
The starting salary for new employees is $1000 per week.
Bronzes are limited to $2500 a week.
The weekly limit for silver is $5000.
The weekly limit for gold is $10,000.
Platinums are limited to $20,000 to $50,000 every week.
Diamonds are limited at $25,000 to $100,000 every week.
Legends are paid $50,000 to $150,000 every week.
The first value is the initial cap for the variable caps from Platinum through Legend.

The second figure cap is obtained by rank advancement.

Conclusion of SwapIt
SwapIT is sold using standard crypto lingo. According to the firm,

NFT collectibles and smooth mobile technologies have been tuned for the DEFI worldwide market.

SwapIT is a smart-contract Ponzi scam hidden behind the marketing. A shitcoin pump and dump factory is linked to it.

Let’s start with the Ponzi scam.

Card tokens are simply ERC-20 smart-contract tokens, of which there are around 980 million.

The representation of card tokens on SwapIT’s front-end is just aesthetic. Card tokens are just smart-contract tokens with varying numerical values on SwapIT’s backend.

Aside from that, we don’t need to waste time delving into tHe TeChNiCaLs (which SwapIT doesn’t give on their website in the first place).

Affiliates of SwapIT invest in card tokens. SwapIT puts 30% of new investment aside to pay returns.

That’s a pyramid scam.

SwapIT is recognized as a shitcoin treasure hunter, giving pre-pump opportunities for affiliate investors to cash out on in the shitcoin pump and dump machine.

In actuality, all they’re doing is negotiating backdoor agreements with the inventors of shitcoins. Alternatively, the currencies may be created in around five minutes using the ERC-20 platform.

Eric Alexandre’s JetCoin was, predictably, one of the shitcoins dumped on SwapIT affiliates.

This may be seen on JetCoin’s public trade chart:

There are no surprises here.

SwapIT has its own “swapit token” as well (SWIT).

SWIT is another another ERC-20 shitcoin that is not openly traded.

SWIT is distributed to SwapIT affiliates at each 10% investment milestone of 980 million card tokens.

SWITs appear to be bidding exclusively on in-house produced NFTs, in addition to limiting bitcoin rewards to SwapIT affiliates.

SwapIT first appeared about seven months ago. This was around the time the brief-lived NFT craze entered the mainstream news.

The NFT crypto niche is currently a shambles of crooks selling algorithm produced clipart to unsuspecting idiots.

The clipart theme of choice is animals, with each NFT scam adding its own decorative touch.

Jokers are used to integrate NFTS with SwapIT.

When a SwapIT affiliate gets a Joker and deposits it in one of the Ponzi pools, an NFT is produced and sold to benefit SwapIT executives.

 

Alternatively, the affiliate might request an NFT and trade in the Joker card. They may then sell the NFT for whatever price they choose.

SwapIT’s MLM program is a pyramid scheme. You sign up and are compensated for recruiting other affiliate investors. It’s quite straightforward.

SwapIT’s MLM opportunity is a securities offering, according to regulatory standards.

SwapIT affiliates sign up and invest with the hope of earning a passive income. If you’re still not convinced, listen to SwapIT affiliate Matt Noronha’s marketing spiel.

[14:16] On average, you’ll have tokens valued between $300 and $400 every month.

So, first and foremost, if you’re a Legend Holder, you’re going to have three to four hundred dollars of the token per month.

[15:18] Let’s use the example of someone purchasing a Legend Pack.

They’ll be making around $300 each month.

[15:33] The SwapIT team’s goal is to go locate you money that will be multiplied by 10, 100, and 1000 times.

SwapIT affiliate recruiting, like every MLM Ponzi scam, will dry up once fresh investment ceases.

This will deprive SwapIT of ROI money, eventually preventing SwapIT affiliates from withdrawing.

Preparing for the unavoidable admin disappearance or SWIT public exchange leak.

Math is math in any case. The vast majority of SwapIT affiliates will incur losses.

Update 30th October 2021 – Matt Noronha deleted his SwapIT YouTube marketing video somewhere between October 21st and this update.

I had supplied a link to the video, but Noronha deleted it, thus the link is no longer active.

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