The Truth About the MyAladdinz Consumer Rewards App

Recently, many people have been introduced to a mobile app called "MyAladdinz." It has appeared in television news and on many websites and social media platforms.

Some of the information seems accurate. Some of it seems inaccurate. There is conflicting information from users in the program and from outside observers. Some of the information is based on misunderstandings. The situation can be very confusing. Because of this we have talked to some of the Users of MyAladdinz and also some of the people who are looking at MyAladdinz and trying to understand, and even company representatives. Our goal is to filter out misinformation and reveal the truth.

What is MyAladdinz?

There is no doubt that MyAladdinz is popular. You can find users and merchants promoting it on Facebook and other social media sites almost every day. Consumers and Merchants are very excited about it. Others remain cautious. Some don't know what to think. So What is it?

Depending on who you talk to, MyAladdinz is sometimes referred to as electronic money, a cash-back program, a cryptocurrency app, an affiliate program, and a consumer rewards program. Which is it?

Is MyAladdinz a Consumer Rewards Program?

Officially, MyAladdinz promotes itself as a "Consumer Rewards Program." You might be asking, "What exactly is a consumer rewards program?" Consumer Reward programs aren't new. If you have joined a frequent flyer program with an airline like Vietnam Airlines or one of the larger programs like KrisFlyer, you already know about consumer reward programs. Other well-known programs are Amazon Prime, Starbucks, and even Lazada or Shopee.

Let's look at frequent flyer programs as an example of a typical consumer rewards program. How do they work? You can use airline reward points to upgrade flights with the specific airline. You can also buy the points from others who are not using them. You can even use cash to top-up if you don't have enough rewards points. You can upgrade or book a flight using 100% rewards or you can redeem rewards points and cash together. You can also use their reward points with a limited number of other merchants like car rental companies or hotels. The purpose of reward programs is to reward you for you loyalty to their business. e-Commerce sites like Amazon or Lazada don't reward you with flights or upgrades but instead they offer gift vouchers you can use for purchases.

MyAladdinz is a new idea on this already existing consumer rewards model. MyAladdinz functions as a platform for merchants to promote their products and services and at the same time reward their customers. In this way, it is not much different from a merchant promoting their products and services on Facebook or other social media apps. But with MyAladdinz the merchants can all join together with other merchants in the MyAladdinz community to offer integrated consumer rewards. This is even if the businesses are completely unrelated. By allowing all these merchants to join together, the consumer rewards program becomes even more powerful. The rewards can be used with so many different merchants in so many different industries.

To be approved as a participating merchant in MyAladdinz, they require businesses to already be licensed with the local authorities and provide proof of their business registration. Only approved merchants can participate in the MyAladdinz program. Unlike some of the online claims which misunderstand the program, MyAladdinz cannot be used for utilities like electricity or water. It is not used for bank instalments or bank payments. You can't use it with McDonalds or KFC, or Caltex. It is possible that it could be used for courses, merchandise or other products ranging from cookies to cars but only if the merchants offering those are a legally registered business in Vietnam and have been accepted into the MyAladdinz program. MyAladdinz also has a "Shop N Earn" feature where you can use a special link to take you to e-commerce websites owned by large companies like Nike, Lazada, and receive reward points when you do transactions on those sites. You don’t even need to top-up your MyAladdinz account but pay those sites directly in whatever means they accept.

Is MyAladdinz Electronic Money? Is it a Cashback program? Is it a Cryptocurrency?

The MyAladdinz app uses two terms in regards to the way it manages the exchange between consumers and merchants. These are called "Gems" and "Reward Points". Gems can be redeemed with merchants for products and services. As the gems can only be used and only have value within the MyAladdinz’s App, they should be regarded more as a voucher rather than a kind of money. Each "gem" is valued within the app as equivalent to 1 USDT. In MyAladdinz, you can top-up gems from other users or merchants, but there is no minimum top-up required and in fact, you can join the app for free.

When referring to MyAladdinz, some mention that MyAladdinz provides an 80% rebate. On hearing this, many assume that the rebate is a cashback rebate. MyAladdinz does not offer an 80% rebate back to the consumer in cash. MyAladdinz users receive 80% back in reward points - not cash. These reward points can be accumulated or slowly converted into gems over time at a fixed daily rate.

In regards to cryptocurrency, "gems" and "reward points" are merely a statement of the balance you have in each. They are not a cryptocurrency, nor can they be traded in cryptocurrency exchanges.

Is MyAladdinz a Multi-Level Marketing Platform?

MyAladdinz does offer an affiliate reward when people you invite into MyAladdinz use the app. The difference with Multi-Level programs is that MyAladdinz gives immediate rewards based on a single level - The Direct Referrer. MyAladdinz does not give affiliate rewards in the form of money. Affiliate rewards are given in Reward Points. In addition, users are able to join and participate in the MyAladdinz program without any top-up. If a user does choose to make a top-up, others do earn rewards depending on the volume of their entire group as a group affiliate bonus. As the reward is in points, MyAladdinz does not depend on future Top-Ups to Credit Reward Points.

How does MyAladdinz Work?

MyAladdinz is an app based consumer rewards program to connect consumers and merchants together. It is similar to Amazon or Facebook internationally, or in Vietnam, it is similar to Tiki, Shopee, Lazada or SENDO. MyAladdinz's special feature is that this app offers consumers up to 80% back in reward points.


Imagine that you want to get a new iPhone. You can use the merchant directory in the app to find a nearby mobile phone dealer who participates in the MyAladdinz program. The dealer may offer the mobile phone for redemption of 1000 gems. Use the App to transfer the gems to the mobile phone dealer. The app will immediately credit you 80% or 800 reward points. You receive reward points, not cash. These reward points can be gradually converted to Gems at a fixed rate of 0.2% per day. After 180 days it is 0.1%. That means it does take you some time to accumulate the gems in your account. As you convert the points to gems, you can either accumulate them or use them for another redemption. You can also sell the gems to other users who might need more gems for a new mobile phone, or for another product or service with a different merchant in the MyAladdinz program. It's takes time but the rewards are real. There is no minimum top-up and you can join for free.


If you are a merchant, you must have a legally registered company in Vietnam in order to be accepted as a merchant. You benefit from the huge number of customers who are part of the program who want to use the app to get 80% back in reward points. You can use the gems you receive with the thousands of other merchants in the MyAladdinz program or sell them back into the community of other users who need to top-up their gems.


You can also earn reward points by inviting others to join the MyAladdinz program. It's a single level affiliate program, even though you do earn some on the growth of the entire group under you. The person who refers earns 5% in points every time the person they refer adds gems to their account. Again, as the affiliate bonus is in reward points, it will take you some time to convert these points to gems.

Is MyAladdinz a scam?

The concern for most people is whether or not MyAladdinz is a scam? To evaluate whether MyAladdinz is a scam or a legitimate opportunity for merchants and consumers you need to look at a couple of key areas:

Where is MyAladdinz from? Is it a real business?

MyAladdinz a project of NewTycoon Global Ltd and legally registered as a company in Hong Kong. A lot of Asian companies register in Hong Kong as it gives them access to most of the Asia Market and opens the possibility of expansion into the world's largest consumer base - China. It's also not uncommon for e-commerce companies to register in Hong Kong and do business throughout Asia without individual offices in every country.

While some websites portray MyAladdinz as being endorsed by world famous speakers and trainers, it's a misunderstanding of their relationship to the program. They are pictured not as an endorsement but as representatives of the available seminars offered for redemption in the mobile app. Many consumers we talked to have redeemed these courses and even had photos of themselves with the speakers to prove it. So the app does offer legitimate opportunities to take courses from world experts.

Evaluation of the website

According to data from Wayback Machine, the project's website MyAladdinz was established in April 2019. That means it has been in operation for more than one year. According to Alexa, about 80% of the website visitors are from Vietnam which attests to its popularity in Vietnam. While the website is somewhat basic, this could be because the business is primarily promoted as a mobile app rather than an internet business. It's not uncommon for mobile apps to be promoted almost entirely through Apple's App store or the Google Play store. If you look at the Google Play store it has more than 2500 reviews and a rating of 4.5 stars out of 5. In the app itself, there is a HelpDesk with FAQ as well as an abundance of resources. There are many other websites, Facebook groups, and groups on Social Media using the MyAladdinz name, but there are the creations of overzealous fans of MyAladdinz and often contain conflicting information, exaggerations, misunderstandings or apparently outdated information.

Is MyAladdinz a way to steal my personal information?

MyAladdinz does collect personal data as required by international AML/AFT regulations. An official company representative verified that identity documents are outsourced and evaluated by a reputable KYC (Know Your Customer) Vendor. They mentioned that no documents are stored on in the app or servers accessed by the app. In addition, the app is encrypted and fully secure.

Is MyAladdinz Risky?

MyAladdinz is no more risky that other existing online websites. MyAladdinz consumers are free to report suspected cases of fraud to the company for action or suspension of a user or merchant account. Accounts also have rankings of 1-5 stars which are subtracted for any refractions.

Are prices inflated?

MyAladdinz does not set a price on products and services offered for redemption by merchants. As in the general retail market, Price is always a reflection of cost, demand, and profit margins. While there may be a recommended or suggested retail market price by manufacturers of products, merchants are always free to select their own prices. Customers are free to choose merchants based on the best perceived price and value. No one is required to redeem anything in the MyAladdinz program.

Is 80% back in Reward Points too much? Is it sustainable?

The 80% back is in Reward Points, not cash. These reward points take time to be converted into gems and are not immediately redeemable. Every day users open the app and tap the lamp to convert points to gems. As the number of users grows, this create a huge opportunity to place ads in front of them. As MyAladdinz continues to grow, they plan to monetise the app with platform fees, display advertising, paid ads, and direct sales. This is a similar model to many games and other mobile apps. The majority of Free Mobile Apps and Games use advertising and in app purchases to create revenue for their creators.

Summary: Magic App 4.0 or Real Opportunity?

Should you participate in MyAladdinz?

MyAladdinz, does play with the 500 year old tale from the Arabian Nights, but it is definitely not magic and no Hocus Pocus is involved. It is merely a marketing and branding concept to promote the service to merchants and consumers. While you might want to rub a magic lamp and gain instant riches and fame, if you are looking to get rich quick with MyAladdinz and make millions overnight with the snap of your finger, MyAladdinz isn’t the place for you. However, if you are a merchant who wants to grow your business it's a great way to set your business apart from the competition using a very powerful rewards program. If you are a consumer that wants to get more rewards and earn reward points across a variety of merchants and industries, there is no better place to do it. If you are into affiliate marketing you can be rewarded for working hard to help MyAladdinz expand its reach into the world marketplace. Regardless, like anything else in this world, your results and your rewards are not gained through magic, but hard work and persistence!