MyDHLife has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to EXW Wallet. We’ve received over 3 complaints against MyDHLife.
MyDHLife, a multi-level marketing organization led by Steve Sughrim, provides a faith-based financial opportunity in the crypto space. Concerns are raised, however, by red flags, unregulated operations, an unclear remuneration plan, and consumer issues. Before investing, undertake considerable research and exercise utmost caution.
Key Takeaways
Is MyDHLife Regulated? Do They Have a License?
In the world of cryptocurrency MLMs, MyDHLife (also known as My Dominion Heir Life) has emerged as a prominent player. Led by founder and CEO Steve Sughrim, this company claims to offer a unique opportunity for individuals to achieve financial prosperity while embracing a faith-based lifestyle.
However, upon closer examination, several red flags and concerns come to light. In this comprehensive review, we will delve into the intricacies of MyDHLife’s MLM opportunity, explore its product offerings, analyze the compensation plan, and shed light on the underlying risks and potential pitfalls.
The lack of regulation or the presence of poor regulation is a huge red flag. It means MyDHLife is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of MyDHLife, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at MyDHLife
Understanding the compensation plan is essential for evaluating the viability and potential profitability of an MLM opportunity.
In the case of MyDHLife, affiliates are required to invest between $100 and $2500 with the promise of a passive 300% return on investment (ROI).
The investment tiers within MyDHLife include Earl/Countess, Prince/Princess, King/Queen, and Kingdom, each with its own investment amount and monthly fee. The company pays referral commissions on invested funds down three levels of recruitment, following a unilevel structure. Level 1 affiliates receive a 20% commission, level 2 receives 10%, and level 3 receives 5%.
To become a part of the MyDHLife MLM opportunity, individuals must purchase an affiliate membership package, the cost of which ranges from $100 to $2500.
Each membership tier offers different bundled products and income potential. For instance, the highest-tier membership, Kingdom, includes benefits such as access to the wholesale travel portal, the discount directory, and various master classes.
On the other hand, the lowest-tier membership, Earl/Countess, offers a more limited range of products and benefits.
Another concerning aspect of MyDHLife is its strict no-refund policy. Since the products offered by the company are digital in nature and accessible immediately upon purchase, customers waive their right to a 14-day cancellation period. This policy can create challenges for individuals who may have second thoughts or encounter issues with the products or services provided.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
MyDHLife Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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MyDHLife Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like MyDHLife tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust MyDHLife reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of MyDHLife, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like MyDHLife enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “MyDHLife reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising MyDHLife.
You should always look out for consumer complaints. In the case of MyDHLife, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about MyDHLife? You can share your complaint in the comment section or submit an anonymous tip.
Is MyDHLife Legit Or Scam?
MyDHLife presents an MLM opportunity that raises several concerns and red flags. Its lack of transparency, questionable compensation plan, unverifiable AI trading bot, and potential securities fraud highlight the risks associated with this company.
Investors must exercise caution and carefully evaluate the legitimacy and viability of any MLM opportunity before committing their hard-earned money. Consulting with financial professionals and conducting thorough research are essential steps to protect oneself from falling victim to Ponzi schemes or fraudulent investment opportunities.
MyDHLife is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind MyDHLife can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust MyDHLife?
All the evidence suggests that MyDHLife is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is MyDHLife a scam?
Can I withdraw money from MyDHLife?
Where is MyDHLife Located?
How do I get my money back from MyDHLife?
How The MyDHLife Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
