What Is Etherz? It’s One Big Smart Contract Ponzi Scheme!
Welcome to my Etherz review!
If you want to know why there’s a strong surge of cryptocurrency Ponzi schemes, it’s probably because of the fact that not a lot of people still know enough about it. The industry itself is filled with technical jargon that would confuse the average Joe’s and Jane’s.
This is why you have companies like Etherz who take advantage of this lack of knowledge and turn it into a money-making scheme (at least for them).
We’re going to take a look at this so-called Smart Contract MLM and find out what it really is.
First of all, I must Congratulate you for taking your time to do your own research before buying into any "seemingly good" product.
That's the way to avoid scams and find the legitimate way to make money online!
Let me be completely transparent with you, I'm not associated with Etherz in any form.
So, rest assured that I'm not here to pitch or sell anything to you.
Instead, I'm here to reveal what this smart contract tries to fool you into...
Etherz Review Summary
Product Name: Etherz
Founder: Not disclosed
Product Type: Cryptocurrency MLM
Price: 0.03 ETH minimum investment
Best For: No one!
Summary: Etherz is a cryptocurrency MLM company that markets a cryptocurrency investment scheme through smart contracts. However, it's just one big Ponzi scheme. Their compensation plan has you recruiting a lot of people and there's just no way this is legitimate.
What is Etherz?
Etherz is a MLM or multi-level marketing company operating in the cryptocurrency niche, specifically working with Smart Contracts and ETH (Ethereum), a legitimate cryptocurrency.
On their landing page, you’ll find no information about who owns the company or who runs it. Granted it’s operating in the Blockchain, but as a MLM company, they are required to be transparent about ownership.
They also don’t have their legal documents on there, such as Terms and Conditions, Disclaimers, what have you.
A quick Alexa search shows that 87% of their estimated traffic comes from India, which I assume that the owners might be from that country.
Their WhoIs info shows us that the website was privately registered on July 2020.
Not a lot of information here as to the who, what, where, and when of the company, so this is a huge
Etherz Product Line
As a MLM company, they are required by the FTC or their counterparts to have a retail product or service to offer. MLM companies cannot operate without selling something. And that doesn’t include selling a membership.
Etherz doesn’t have any retail products or services at all. You just become a member, invest into the program, and sell the income opportunity.
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Does The Product Work?
Etherz is a smart-contract Ponzi scheme. More importantly, it’s a Ponzi scheme. Now, Smart Contracts are legitimate and operate in a way that doesn’t even come close to how Etherz paints it to be.
All members are actually doing are signing up and investing a minimum of 0.03 ETH. This money is paid out to the affiliate before them (this is typical, but it’s not always the recruiter that gets the cash).
Sometimes, it pays out the higher member above the recruiter. And it goes on from there. Through this business model, they’re a combination of Ponzi and gifting schemes.
It’s a gifting scheme in a sense that your investments or any money that you put in is directly given to the persons above you. And in order to get that money back, you’ll have to bring in people under you.
Etherz’s compensation plan also has you strategically placing members under you in order to move the money around. We’ll talk more about that later on.
I don’t know whether or not they actually do run a smart contract for the company, but I can imagine that it’s not going to benefit the actual users, which is you.
How To Make Money with Etherz?
Etherz only offers one way to make money from their income opportunity, and that’s through recruitment.
Your goal here is to build a team and hopefully make money out of their investments.
How To Get Started with Etherz?
Your membership into Etherz is tied up into a minimum investment of 0.03 ETH investment.
This goes up to the recruiters who got you into the company, or the people above them.
A full participation into their income opportunity costs 2048.23 ETH or $786,254.04 (as of this writing, October 13 2020).
Etherz Compensation Plan
Etherz members are required to invest Ethereum on the promise of advertised ROI. This is paid out through a 2x16 matrix.
Two positions form below you and are considered the first level of the matrix. The second level is split into four positions from these first 2. And then the succeeding levels are generated the same way.
Members invest into these tiers or positions, with each paying the following ROI:
Level 1 – invest 0.03 ETH and receive 0.03 ETH from 2 members (0.06 ETH)
Level 2 – invest 0.05 ETH and receive 0.05 ETH from 4 members (0.2 ETH)
Level 3 – invest 0.08 ETH and receive 0.08 ETH from 8 members (0.64 ETH)
Level 4 – invest 0.23 ETH and receive 0.23 ETH from 16 members (3.68 ETH)
Level 5 – invest 0.84 ETH and receive 0.84 ETH from 32 members (26.88 ETH)
Level 6 – invest 1 ETH and receive 1 ETH from 64 members (64 ETH)
Level 7 – invest 2 ETH and receive 2 ETH from 128 members (256 ETH)
Level 8 – invest 4 ETH and receive 4 ETH from 256 members (1024 ETH)
Level 9 – invest 8 ETH and receive 8 ETH from 512 members (4096 ETH)
Level 10 – invest 16 ETH and receive 16 ETH from 1024 members (16,384 ETH)
Level 11 – invest 32 ETH and receive 32 ETH from 2048 members (65,536 ETH)
Level 12 – invest 64 ETH and receive 64 ETH from 4096 members (262,144 ETH)
Level 13 – invest 128 ETH and receive 128 ETH from 8192 members (1,048,576 ETH)
Level 14 – invest 256 ETH and receive 256 ETH from 16,384 members (4,194,304 ETH)
Level 15 – invest 512 ETH and receive 512 ETH from 32,768 members (16,777,216 ETH)
Level 16 – invest 1024 ETH and receive 1024 ETH from 65,535 members (67,108,854 ETH)
Etherz Ugly Truths Revealed!
#1 Pure Ponzi Scheme!
Judging by the looks of their compensation plan, it’s an outright recruitment-based scheme. This is what I’d like to call as a Ponzi scheme.
And I’m sure that federal agencies would agree with me as well.
There’s no proof that there’s any other income coming in other than recruitment. There’s no proof that there’s money generated for the company to sustain it.
All that remains is a company that will collapse once the money stops coming in.
#2 This Is Not How Smart Contracts Work!
Now this is not how smart contracts work when you’re looking at it from Etherz’s point of view.
A smart contract is an agreement formed between two people through a computer code. They run on the blockchain, so it’s stored on a public database. This cannot be changed by anyone the moment it’s on the network.
Once the parties have fulfilled their obligations, the transaction is completed via the Blockchain and is handled automatically. There’s no need for any third-party to interfere.
Etherz’s smart contract does not work this way. All their smart contract does is to get them their tokens out the moment it’s been fulfilled. And the people who invested in these tokens will not get a share of the income.
What I Like About Etherz?
There’s nothing to like about Etherz. It’s one big Ponzi scheme.
Is Etherz a Scam?
Etherz is a scam as far as we’re concerned, and we’re confident that it’s a Ponzi scheme. People are investing into the company thinking they’ll get a lot of money back.
But in reality, there’s nothing that could benefit their members here.
- The income opportunity makes it so that you’re only making money when you bring people in and having them invest. You don’t make money if you don’t recruit people.
- This is not how smart contracts work, and companies like Etherz make the cryptocurrency industry look bad.
This company is bad news. Just stay away from it.
Legit Ways To Make Money Online
How I Make a Living Online?
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In fact, with affiliate marketing...
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