CryptoGold Review – Is This A Good Opportunity Or Big Scam?
In the last few weeks, CryptoGold has been getting a lot of attention in the network marketing circles.
With all this hype, I am sure you have seen some of your friends trying to sell CryptoGold in your social media feeds.
The first thing you need to know is that I am NOT an affiliate or distributor for CryptoGold.
I wanted to gather all the information about CryptoGold in my CryptoGold Review in order for you to make a decision about joining CryptoGold.
Is CryptoGold legit or a scam?
Will it be able to deliver on it’s promises to you?
Let me show you in my unbiased review of CryptoGold.
Read on to find out what you need to know.
What The Heck Is CryptoGold?
With CryptoGold, we’re dealing with yet another MLM entity that makes an extremely poor first impression.
The company’s website doesn’t disclose any background info, meaning that I’m left scratching my head trying to figure out who owns the company, where it’s being run out of, etc.
Despite this, I was able to find some info via the domain registration for CryptoGold’s website.
The domain (krypto-gold.com) was registered on July 29, 2016, the owner is named as Michael Bauer, and an address in Cologne, Germany is listed.
In addition to all of this info, there’s another website that CryptoGold owns (cryptogold.de) that cites a Sascha Senft as the Director for the company and a PO Box for CryptoGold Limited over in Dubai.
It’s quite likely that CryptoGold is truthfully operating in Dubai, and the Germany address is just being used as a namesake and nothing more.
Although I tried to find more info on both Michael Bauer and Sascha Senft, I wasn’t able to do so.
This can sometimes be a sign that people named don’t actually exist, but in this case, I’m chalking it up to language barriers that do often cause for trouble in these situations.
What Are The CryptoGold Products?
The product line is often one of the most important components for an MLM opportunity, but this is apparently something that CryptoGold wasn’t aware of.
Why do I say this?
CryptoGold isn’t selling any goods or services to retail customers.
Affiliates for CryptoGold have only the affiliate membership to offer to people, and this means that recruitment is the only thing they have to pursue.
In MLM, this is never something you want to come across.
What About The Compensation Plan For CryptoGold?
Moving to the compensation plan, CryptoGold asks its affiliates to invest either $50, $100, or $500 into shares of the company so they can then earn a daily ROI.
The amount of this ROI is paid to members in the form of bitcoin, and it changes in value on a day-to-day basis.
CryptoGold also pays its affiliates referral commissions from investments made in their downline, and this is done as both a direct and residual payment.
If you want to be paid to recruit other affiliates that invest money into CryptoGold, you’ll need to make a minimum investment of $500.
Once you do so, you can earn recruitment commissions that are paid residually through the use of a binary system.
Points are added to the binary whenever money is invested into CryptoGold shares, and investing more creates for more points being added to the binary.
There’s a daily earning cap set for all affiliates, but having a higher affiliate rank will allow that cap to increase so you can keep on earning.
What’s The Cost Of Joining CryptoGold?
If you’d like to join CryptoGold, you’ll need to first pay an affiliate membership fee of $79.
From here, you’ll need to make an investment into the company.
While that investment can be as little as $50, choosing to invest $500 or more will allow you to drastically increase your earning potential within the compensation plan.
So, Is There A CryptoGold Scam Going On?
Have you been hearing rumours that CryptoGold is a scam?
After reading this review, you might still be asking yourself if it is really legit.
So – what is the truth? Is there really a CryptoGold scam going on?
If I am being perfectly honest, CryptoGold isn’t entirely a scam.
However, there are some things you need to watch out for.
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Finally, My CryptoGold Review And Conclusion!
According to CryptoGold’s website, the company is capable of generating money to pay its ROI because its affiliates are investing in a mining pool.
For those that don’t know, a mining pool is a system that mines ether and bitcoin, and whatever is mined is then paid to affiliates that own shares in the pool.
Setups like this are perfectly legitimate, but the problem here is that CryptoGold doesn’t provide any proof that this is actually taking place.
What’s even more peculiar is the following message on CryptoGold’s website:
“Where are the mining facilities?
For security reasons, we do not provide exact locations for the mining farms. Profitability is the most important factor.”
That may sound like a legit reason if you don’t know anything about mining pools, but if you do know a thing or two about them, you’ll also know that this makes little to no sense.
Tons of mining pools freely disclose the location from which they operate, and in many cases, investing so much money will provide you with an invite to go and physically visit the facility where the mining is taking place.
Add all of this up, and it’s highly unlike that any such mining pool actually exists with CryptoGold.
The only money that I can see making its way into the company is that of affiliate investments, and because of this, CryptoGold has no other choice but to use these invested funds to pay ROIs owed to other members.
In other words, CryptoGold is likely operating as a Ponzi scheme.
As with all other Ponzi schemes, CryptoGold will be done and gone once people stop sinking money into the company.
The admins running CryptoGold will earn the lion’s share of the money being invested, but most everyone else will more than likely lose out.
I really hope you have gained value from my CryptoGold Review.
I wanted to make sure you had all the information you needed, because most other CryptoGold reviews are just trying to sell you something.
If you really do decide to join CryptoGold, I want you to succeed with your business. Learn how to market yourself properly!
My training can help you make money online!