Good Time Life Review – Legit Biz Op or Just Another Scam? Find Out…
Welcome to my Good Time Life Review!
There’s been a lot of talk circulating about this company, and even when you are hearing good things about a company, you should always investigate further, so you are not surprised later…
So, I decided to investigate to learn as much as I could about the company…
Even though there are 1000s of companies out there, one will always find a way into your investment portfolio, but don’t let it in until you know the details!
The best way to know the company details is for you to do your homework, and that means research!
Research and find all the information you can before you let go of any of your hard-earned cash and commit yourself to an opportunity.
This blog will help with your research by providing you with the info you need about the company history, the products and the compensation plan.
Let’s take a good look at the company!
Good Time Life Review – The Company
The company started up in the middle of last year, conducting their business in the MLM niche of cryptocurrency.
The current operating CEOs of the company are Linda Hong and Alex Lee, who are also the founders of the business.
There is no contact information found online on the company website for either CEO.
After a little digging around, I was able to find that the Good Time Life website domain was registered privately as “goodtime.life” on the 25th of October in 2016.
Some material found for marketing on the company hints that the pair, Hong and Lee, are centered out of South Korea, most likely located in Seoul, along with their business operations.
Good Time Life Reviews – The Products
Good Time Life doesn’t have any products or services for affiliates to purchase or sell.
But anyone wanting to sign up as an affiliate with Good Time Life can market the company affiliate membership.
The Good Time Life Compensation Plan
Affiliates looking to take part in the company compensation plan are required to sign up and invest into the company.
Company affiliates are to invest into UTA points.
- Standard – $250 and receive 100% worth of UTA
- Basic – Invest $500 and receive 110% worth of UTA
- Bronze – Invest $1000 and receive 115% worth of UTA
- Silver – Invest $3000 and receive 120% worth of UTA
- Gold – Invest $5000 and receive 125% worth of UTA
- Premium – Invest $10,000 and receive 140% worth of UTA
- VIP – Invest $20,000 and receive 170% worth of UTA
- Top – Invest $30,000 and receive 200% worth of UTA
The company does NOT disclose the current rate of UTA points on their website.
Beyond the company, the UTA points have no monetary value.
The company affiliates can earn with the company when sponsoring new investing affiliates.
The amount of sponsorship commissions earned will be determined by the amount invested by the new investing affiliate.
Sponsorship commission rates for the new affiliates sponsored (within their first 30 days) are:
- Sponsor a Standard affiliate and earn $40
- Sponsor a Basic affiliate and earn $80
- Sponsor a Bronze affiliate and earn $160
- Sponsor a Silver affiliate and earn $480
- Sponsor a Gold affiliate and earn $800
- Sponsor a Premium affiliate and earn $1600
- Sponsor a VIP affiliate and earn $3600
- Sponsor a Top affiliate and earn $4800
Commission rates stated above are reduced to half the amounts listed once the affiliate’s first 30 days are up.
The company uses a binary compensation model to pay residual commissions through to its affiliates.
The binary compensation model puts an affiliate onto the top of a binary team, where the next level is divided into 2 sides (left/right).
The 1st level of a binary team will hold two positions and the 2nd level of the binary team is made by dividing the first two positions into a further two positions each, creating 4 positions in total on level 2.
Any future levels of the binary team are made as needed, and each new level will hold 2X as many positions as the level before it.
The binary team positions are filled through direct and indirect sponsorship of new affiliates.
NOTE: The company does not limit the growth of how deep a binary team may grow to.
Every company affiliate investment package, from the Standard Package to Top Package, will come with a specific amount of points:
- Standard – 200 points
- Basic – 400 points
- Bronze – 800 points
- Silver – 2400 points
- Gold – 4000 points
- Premium – 8000 points
- VIP – 16,000 points
- Top – 24,000 points
On both sides of the binary team, a tally is taken at the end of everyday to add up new investment volume points earned.
Centered on the amount an affiliate has invested through the matched points on both sides, a percentage of this will be paid out to affiliates in commissions, as follows:
- Standard and Basic affiliates earn 7%
- Bronze and Silver affiliates earn 8%
- Gold and Premium affiliates earn 9%
- VIP and Top affiliates earn 10%
The company uses a unilevel compensation model to pay out the Matching Bonus to its affiliates.
The unilevel compensation model puts an affiliate at the top of a unilevel team that places any personally sponsored affiliate on level 1 right underneath the original affiliate.
When a level 1 affiliate sponsors new affiliates, they are then put onto level 2 of the original affiliate’s unilevel team.
When a level 2 affiliate sponsors new affiliates, they are then placed onto level 3, and levels continue to be created like this down a hypothetical never ending amount of levels.
Payable unilevel levels are capped at Level 7 for the Matching Bonus, where commissions that are paid out will be done so as a percentage of the match of residual binary commissions:
- Bronze affiliates earn a 7% match on level 1 (personally sponsored affiliates)
- Silver affiliates earn a 7% match on level 1 and 3% on level 2
- Gold affiliates earn a 7% match on level 1 and 3% on levels 2 and 3
- Premium affiliates earn a 7% match on level 1 and 3% on levels 2 to 4
- VIP affiliates earn a 7% match on level 1 and 3% on levels 2 to 6
- Top affiliates earn a 7% match on level 1 and 3% on levels 2 to 7
There is another 3% in Matching Bonus that can be earned through affiliates sponsored, by personally sponsored affiliates and by means of the same level of restrictions as stated above.
Company affiliates can earn a Recognition Bonus when they have collected the point goals acquired on the weaker side of the binary team.
- Sapphire – Generate 60,000 points in weaker binary team volume and receive $1500
- Ruby – Generate 240,000 in weaker binary team volume and receive $10,000
- Emerald – Generate 480,000 in weaker binary team volume and receive $20,000
- Diamond – Have one Emerald on both sides of your binary team and receive $30,000
- Double Diamond – Have two Diamonds on both sides of your binary team and receive $40,000
- UTA Diamond – Have two Double Diamond on both sides of your binary team and receive $50,000
Bonus Global Pool
The Bonus Global Pool is made up of 2.5% of company-wide investment volume.
Company affiliates ranking at Diamond rank or higher earn the Bonus Global Pool payout on a quarterly basis.
- Diamond ranked affiliates receive a share in a 1% pool
- Double Diamond ranked affiliates receive a share in a 1% pool
- UTA Diamond ranked affiliates receive a share in a 0.5% pool
Cost To Join Good Time Life
The cost to join Good Time Life as an affiliate includes a membership that will cost new investors anywhere from $250 to $30,000 (to be invested using bitcoin).
- Standard – $250
- Basic – $500
- Bronze – $1000
- Silver – $3000
- Gold – $5000
- Premium – $10,000
- VIP – $20,000
- Top – $30,000
When an affiliate invests more money, their income potential increases through the compensation plan used by the company.
Verdict of Good Time Life
Great news, you’ve made it to the end of my review, and here is where I can tell you that I do no think this company is 100% legit…
The company is pretty much another MLM cryptocurrency business opportunity presented to investors, using valueless token points.
Here we have the company presenting the UTA points as the next big thing in cryptocurrency, as if it will be able to overtake Bitcoin:
“UTA CASH is here to dominate the market, the same phenomenon that experienced Bitcoin [sic] 8 years ago will happen with UTA COIN!”
This is centered on the accompanied e-commerce platform which includes the “Good Time Mall.”
There are some random items presented in Korean, but other than that there is no merchant activity taking place on the website associated with it.
The data from Alexa shows an estimated non-existent flow of traffic to the website, from which we can ascertain that the website is a thing of the past.
This will ultimately leave UTA as an altcoin that is valueless, and only serving the purpose to line the pockets of Linda Hong and Alex Lee.
So, what is really going on?
The company uses money invested through the purchase of Bitcoin, so when new investors invest by using Bitcoin for UTA points, the owners will just turn around and keep the bitcoin and make any payments to investors using UTA…. which are worthless.
So, what is happening when investors turn over their bitcoin investment?
The owners are transferring the UTA back into Bitcoin through an internal exchange, and this will keep happening until the owners are out of the black and start nearing or entering the red, basically as long as they can keep their profits before they start losing money.
Once the business has a slowing down in sponsorship, they will hit a point where they may start losing money and before they lose too much, they will shut the internal exchange down and most likely run away with the money they have already gained from investors.
And investors will be only left with UTA points, which are worthless outside of the company, seeing how the company has not been yet made public (so, there is no market for this coin yet, and no one to trade with, therefore no value).
My advice? Be careful with this company as you are likely to lose your investment…
I hope you enjoyed my Good Time Life review and if you have any questions, please leave them in the comments below…
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