What Is Freebay? It's A Surprising New MLM Scheme But...

What Is Freebay? It’s A Surprising New MLM Scheme But…

Welcome to my Freebay review!

This MLM company thinks it’s probably sneaky by working with another MLM company, when we have more than enough reason to believe they’re one and the same.

That would’ve been a good thing if the other company wasn’t a notorious Ponzi scheme.

Today, we’re looking at Freebay.

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 Freebay in any form.

So, rest assured that I'm not here to pitch or sell anything to you.

Instead, I'm here to reveal 

Freebay Review Summary

Product Name:  Freebay

Founder:  Jurgen Pulvermuller

Product Type:  Cryptocurrency MLM

Price:  Monthly investment (50 EUR to 480 EUR)

Best For:  NO ONE!

What Is Freebay Image Summary

Summary:  Freebay is a MLM or multi-level marketing company that presents itself as a cryptocurrency investment program. However, it's nothing more than a reboot of an old pyramid scheme that we also reviewed. The company's MO is the same as the old version. 

Rating: 1/100

Recommended: No!

More...

What is Freebay?

Freebay is a MLM or multi-level marketing company that operates in the cryptocurrency investment and education niche.

At a glance, it would look like they’re legitimate, but it’s not.

As far as we’re concerned, Freebay is known to be a reboot of Karatbars International, you know the Gold Ponzi scheme that we exposed not too long ago.

What Is Freebay - Jurgen Pulvermuller

What Is Freebay - Jurgen Pulvermuller

On paper, Freebay’s CEO and founder is Jurgen Pulvermuller. Before Freebay, he was involved in numerous MLM companies and held management roles.

One of these MLM companies was Karatbars, where he worked as a Head of Global Sales.

From Karatbars’ side, they mention that they’re partnered with Freebay. On their individual social media sites, they hold seminars where each company’s founders are guest speakers, when in fact it’s actually just one company all in all.

What Is Freebay - Seminars

What Is Freebay - Seminars

The one thing that’s unclear is how much stake Harald Seiz has over Freebay. Seiz is the founder and CEO of Karatbars. But if we had to guess, Seiz, Pulvermuller, and a few other partners ultimately own Freebay.

Freebay Product Line

When it comes to what Freebay has to offer in terms of their products, there’s none.

What Is Freebay - Future Products

What Is Freebay - Future Products

You only think you’re getting something because when you invest in the company, you get access to what’s called Freebay Academy.

This seems to be their cryptocurrency education program.

However, this isn’t what you’re selling to people. You’re selling their income opportunity. This program is merely a bonus.

Does The Product Work?

Karatbars, its predecessor, was a gold-themed pyramid scheme. People invested in gold bars, and when it ran its course, it jumped into the cryptocurrency wagon. From there, it rebooted as an investment opportunity and rebranded as KaratbarsGold Coin.

It would be no surprise that Freebay is an offshoot of Karatbars to make people think that this is a completely different company than KaratbarsGold Coin.

The fact that you’re not selling anything other than the income opportunity means that this company is a pyramid scheme. Recruitment would be the name of the game, and all you have to do is tell them that you recruit people to build up your passive income.

What Is Freebay - Trading

What Is Freebay - Trading

Speaking of passive income, Freebay promises that you’ll be able to carry out trades with your coins and other cryptocurrencies. However, we have a few questions:

  • Are they authorized by the SEC to carry out these financial activities?
  • Do they have brokers that are authorized and registered with the SEC?
  • Do they have everything they need to operate legally?

If the answer is NO to any one of these questions, it means they are committing securities fraud. If you take a closer look at trading platforms such as IQ Option, you’ll notice that they’ll post their credentials and other registrations on their landing page. This makes it easy for clients to double check their legitimacy themselves.

Freebay has none of these.

How To Make Money with Freebay?

There’s only one way to make money from Freebay, and that’s through recruitment.

You have to recruit people into getting your “investment” back via their income opportunity.

You won’t earn anything by selling their training program.

How To Get Started with Freebay?

There are 4 ways to join Freebay:

  • Free Membership – Free to join, but you have to sponsor new members to rank and qualify for Freebay  commissions.
  • EVO Academy – This level will require a 50-euro monthly investment or you can pay yearly at 480 euros.
  • EVO Expert – This level will require a 190-euro monthly investment or you can pay yearly at 1820 euros.
  • EVO Life – This level will require a 480-euro monthly investment or you can pay yearly at 4600 euros.

Your investment will also affect how much you can get from their compensation plan.

Freebay Compensation Plan

At the end of this section, you’ll find a video that talks about their compensation plan in great detail.

For this section, we’ll just go over the important highlights.

Company Ranks

You qualify for up to 12 ranks when you join FreeBay. Your rank is determined by how much you invest and how many people you can get to join.

The more people you recruit, the higher your rank is.

Passive Trading Bonus

This trading bonus is marketed as “automated”, but only available to EVO Expert and EVO Life level members.

You get some form of passive returns on your investment at these levels.

Residual Commissions

You earn a residual commission for every person you recruit into the company. You build out a team via a binary compensation structure.

Your personal recruits are placed on your left and right leg. And their recruits are placed on their own left and right legs. And goes on from there.

You earn a commission based on these levels.

Sponsoring Commissions

You get paid when you recruit new members into the program. Your rank determines your payout for this commission.

Matching Bonus Commissions

FreeBay matches bonuses based on your binary commissions and your personally recruited members.

This bonus kicks in once your members reach the rank of 2 Star Sapphire.

Here’s their latest video that talks about the compensation plan in greater detail.

Freebay Ugly Truths Revealed!

#1 Obvious Pyramid Scheme

There’s no denying that just like its predecessor, FreeBay is an obvious pyramid scheme.

You know what people say: polish a turd, it’s still a turd.

Their compensation plan incentivizes recruitment far more than selling retail. And the most obvious part here is that they have no retail products or services to offer.

Based on FTC guidelines, this makes them a pyramid scheme.

#2 Securities Fraud

Because they’re not registered with any financial regulatory agency, they’re not authorized to carry out trades and investments of any kind. This means that the passive income they generate is illegal because it constitutes securities fraud.

And you can go to jail for promoting this company and their income opportunity. Just look at what happened to OneCoin and their people.

#3 No Proof That Trades or Investments are Done

There’s no proof that any trade or investment is being done to grow your money, or to return your investments.

All the company does is to make you think that you’re getting your money back through investments. You’re getting your money, if ever, through the people you recruit into the program.

This goes back to my first point of this company being a pyramid scheme.

What I Like About Freebay?

There’s just nothing to like about this company. It’s 100% a pyramid scheme.

Is Freebay a Scam?

FreeBay as a whole is a pyramid scheme, and there’s no denying that. To say that it’s any way legal is just obscene.

There are a lot of red flags that we spotted in this review, and we have more than enough reason to believe that this is a scam.

  • The incentives for joining are solely based on your ability to recruit and nothing more.
  • There’s no proof that trades or investments are being done to help grow your money.
  • They’re just like their predecessor, Karatbars.

Stay away from this program. You could land yourself some serious jail time because they’re committing securities fraud.

Related Links

How I Make a Living Online?

I'm not a fan of MLM, not because it's illegal or not profitable, but because of all the restrictions and the expensive costs involved.

Instead, Affiliate Marketing is my top recommended business model for anyone to make money online.

The reason is simple...

  • You don't have to recruit anyone to make money
  • You have the freedom to promote any products you want and not being restricted to only promote the products from one MLM company
  • It's Free to get started

In fact, with affiliate marketing...

I've personally created a 4-Figure Monthly Passive Income Stream and become financially independent at just 21 years old without any College degree or working experience!

Through my own hard work, I went from a broke restaurant waiter to living my dream laptop lifestyle in less than a year's time...


If you want to discover the secrets of how I did it at such a young age, click here!

Justin Hagen
 

Justin has worked as an SEO and content specialist for the last 9 years. His success in the industry has allowed him to graduate from college, pay for a wedding, and pay for their first car. He recently joined Jerry as a writer for the Smart Affiliate Success blog.

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