Is Freebay A Scam? Another Crypto Investment Scheme?
Hi! Welcome To Our Freebay Review
I believe you stumbled upon Freebay company or someone pitched it to you as good work at home business opportunity or just a great way to invest and rake in good returns, right?
But you can’t help but wonder if this business opportunity is the real deal or is Freebay a scam that will only have you lose money than make more.
Well, fasten your seatbelt because that is what we are going to find out today.
We will walk you through everything to know about Freebay, how it works, it’s products and compensation plan to help you make an informed decision.
This review will cover the following aspects in details
>>>What Is Freebay
>>>How Does Freebay Work
>>>Why You Can’t Trust Freebay
>>>Freebay Compensation Plan
>>>Products Of Freebay
>>>Pros & Cons.
Product At A Glance
Owner: Jurgen Pulvermuller (CEO)
Price: free & up to €480/month
Freebay is a Multilevel Marketing company that operates in the crypto niche.
It offers you the opportunity to make money by investing in their V999 tokens and also recruiting others to join Freebay in order to earn more.
On the surface, Freebay looks like a legit business opportunity but looking deeper we have some red flags that make us think otherwise and that it may be an actual ponzi scheme.
Walk with us through this review as we share everything you need to know about how this company operates to help you make an informed decision.
Before we proceed, Let Us Show You A Legit Program That Can Help You Start Earning $100s To $1000s/Month Online.
What Is Freebay
Freebay.ch is a Multilevel Marketing company operating in the crypto niche that claims to provide you with the opportunity to make money by investing in the company.
Freebay is headed by CEO Jurden Pulvermuller and started operations in June 2020, which means it is a fairly new company.
Pulvermuller is known to have been involved in a lot of MLM companies in the past and was recently the Head Of Global Sales with Karatbars.
There has been an ongoing controversy concerning this Karatbars and Freebay emergence.
Some claim that Freebay is Karatbars rebooted( that is Karatbars rehashed) while the owners of Freebay just claims to be partnered with Karatbars.
Story Behind Karatbars
You may wonder what is the big deal with Karatbars and why it has an influence on Freebay, right?
Well, in summary, Karatbars is supposed to be a company that helps members make money by providing them with a simple way of investing in gold.
As they supposedly dealt in the selling of gold, collector’s items and gift cards
They claimed members can invest in their KaraGold Coin which can be supposedly be exchanged for a gram of real gold.
But unfortunately, they never lived up to any of these claims, which saw members lose their investment and some left high and dry.
And over the years, Karatbars has its operation banned in some countries including in Canada by the Canadian Regulatory body AMF which dragged them through court for a period before finally securing a ruling which prohibited their operations and promotion in Canada based on the Financial Authority Acts and Security Acts.
As people begin to realise what Kratbars is all about and lose interest, the business declined and the next thing we know…
The freebay is born!
So the fact that Freebay was founded when Karatbars was crumbling and is also headed by the same man who was the Head of Global Sales for Karatbars definitely leaves room for questions.
How Does Freebay Work
Even though Freebay claims to provide people with the opportunity to make money by investing in their crypto V999 Tokens, the truth remains that you can only make any feasible money here, by inviting others to signup and also invest in Freebay.
Although they offer some basic training modules on crypto and on how to trade.
Why You May Not Trust Freebay
Any company offering a financial investment by lay is expected to be regulated under whatever financial regulatory body exists in that country.
So far there is proof whatsoever that Freebay is a registered and licensed company which means you’d be putting yourself at serious risks by investing with this company
If anything goes wrong at any time, you are not ensured of getting your money back and this means all your investment just goes down the drain.
Relationship With Karatbars
So far we’ve discovered that Frebay operates in the same manner as Karatbars did.
Karatbars pitched people the idea of making money by investing in their KaraGold Coins in exchange for real grams of gold which they never lived up to
This is the same way that Freebay is now pitching people to invest in their so-called Crypto V999 Tokens
The fact that Freebay is also headed by the last known Head of Global Sales for Karatbars is a cause for worry since its obvious the same people are running this scheme
Not to mention being issued warning against in some countries and banned outright in Canada.
There is then no doubt that these two companies have so many similarities and may possibly end up the same way.
No physical Products
This is the most worrying part of any MLM and what differentiates the REAL from the PONZI SCHEME.
A Multilevel Marketing company that depends more on recruitment to sales of products and services to generate income is surely bound to fail.
This is because the money generated and circulated is the money deposited by every member in the form of investment.
And with this kind of business, when the number of people recruited starts to dwindle, this will affect the inflow of money as it will in turn diminish.
Which means at some point there will be little or no more money coming in as fewer and fewer people realise what the business is truly about and give up.
At the end of the day, this will leave the people in the lower level high and dry .i.e without any payouts or even their original investment.
This is the trait that Freebay exhibits so far, there is no evidence of any physical products being marketed here but more signs of people being encouraged to recruit more people to build their downline and generate more income.
And this simply smells as a PONZI SCHEME.
Think about it.
Freebay Compensation Plan
As every other MLM comp plan goes, Freebay also has a very complicated plan which we will do our very best to bring out in a more simplified way
Freebay has a total of 12 affiliate ranking system, and each rank you belong to will determine how much commission you can earn.
You can achieve ranking based on the number of people you recruit and the volume of the membership fee you generate through your downline.
So also applies the commission you can earn. With each rise in ranks, comes a higher percentage of commissions.
Commissions are made by the recruitment of new members and investment in the V999 tokens.
The V999 Token Investment
Every affiliate who invests in the V999 Token will receive a daily share of 0.2% of the funds invested in the company
And is also entitled to a residual bonus of 0.02% of the V999 investment down to your 10th downline generation.
Ranks And Commissions
One Star Sapphire — 7% Commission
Two Star Sapphire — 15% Commission
Three Star Sapphire — 21% Commission
One Star Emerald — 23% Commission
Two Star Emerald — 25% Commission
Three Star Emerald — 26% Commission
One Star Ruby — 27% Commission
Two Star Ruby — 28% Commission
Three Star Ruby — 29% Commission
One Star Diamond — 30% Commission
Two Star Diamond — 31% Commission
Three Star Diamond — 32% Commission
Freebay uses a binary compensation structure, where one person is at the top of the binary structure which has a downline of left and the right team.
See image below
To earn a commission from this structure, you must have one active member on both sides of your legs ( right leg and Left Leg) through your downline.
You will need to generate a 25GV on one leg and 50GV on the other leg to earn your first commission payout.
The first 10 pairs of 25/50GV you generate will earn you 25euros, but for some reason, it declines from their onward.
For example, after your 10th pair generation, your eleventh to 25th pair will pay you a commission of 20 euros instead of the 25euros initially paid. And it keeps going down from there.
There are also some extra bonuses that you can receive alongside your ranks as you meet up with some requirements that will entitle you to such a bonus. These include
Unfortunately, there is no visible products or service to be seen here, although they provide you with basic training on Crypto and trading, this definitely is not the way money is being generated in the company.
Its claim that members invest in the V999 token also doesn’t provide any means of generating income, the only feasible way seen so far is through the recruitment of affiliates.
Where affiliates sell the same investment plan to other people who join and invest and then sell the same investment plan to others.
Which makes Freebay fall in the category of a Ponzi Scheme which depends and generates income through recruitment.
There are four levels of membership as stated below
Free Membership — You can signup for free but will only earn commissions when you invite people who join, invest and earn ranks
Evo Academy — You have to invest 50 euros monthly or 480 euros yearly
Evo Expert — You have to invest 190 euros monthly or 1,820 euros yearly
Evo Life — You have to invest 480 euros monthly or 4,600 euros yearly.
You may be able to make money if you can invite others to join and invest
Not regulated by the Financial Regulatory body in its country of existence or any financial body at all
Linked with an already failed MLM system Karatbars
Is freebay a scam?
The truth is that with everything revealed here concerning Freebay, it is obvious that it is running a Ponzi scheme.
Ponzi schemes are definitely not a very good way to make an investment because on the long run, the owners and the people at the top are the ones who get away with the money generated and this leaves hundreds of others penniless.
In general, people hardly make money in legit MLM business due to its recruitment nature let alone with one that is a Ponzi scheme.
So in your best interest, we would advise you to stay clear from this company as you may end up losing your investment.
But at the end of the day, the decision is yours to make and I believe we have provided you with enough information to do so.
Our Final Thoughts
If you must involve yourself in trading, at least invest with a registered brokerage. A company operating legally.
With this, you can have some peace of mind and assurance of possible refunds if something goes wrong.
On the other hand, with the way our world is going right now at these uncertain times.
We believe starting up something for yourself, that you will be in control of and see how it grows into a financial success will be in your best interest.
You can learn how to start earning up to $100s to $1,000 per month through affiliate marketing.
This is so good because you need very little start-up fee and you will be able to manage things yourself and run your business on your own terms.
Wealthy Affiliate is a training course and platform with a community of both beginners, well-established affiliates and veteran affiliate marketers that can help you and support you through the process of starting your own online business.
It is free to get started with them, which gives you the opportunity to test drive their system and see how everything works to help you.
That is it for today. Hope you found this review helpful?
Kindly share to help others.
If you have any questions or experience with Freebay you would like to share with us, please drop them in the comment section below and we will get back to you soonest.