Engofor Review – Is This A Good Opportunity Or Big Scam?
You may have noticed that Engofor is getting a lot of hype and attention these days.
You might have had some friends in Network Marketing approach you about Engofor, or you may have seen it on social media.
I want to let you know, first of all, that I am NOT promoting Engofor as my own business opportunity. I am not an affiliate or distributor.
I have gathered here all the facts about Engofor in my Engofor Review – now you can learn all you need to know about it.
Is Engofor really a legit business?
Is Engofor a safe business to join?
Let me show you in my review of Engofor.
Get started by reading my review below.
Exactly What Is Engofor?
Engofor is the name of the latest MLM opportunity up for my full review, and this one certainly is a bit of an interesting breed.
While Engofor is the name of the opportunity that I’m reviewing today, the company was previously operating under the name of Cryptocoins Invest. Cryptocoins Invest was first launched sometime back in June of 2016, and it would appear that the company hosting the Cryptocoins Invest website has since gotten rid of it due to the fact that trying to visit the site today shows the message of “account suspended.”
Any honest company would offer a real and truthful explanation as to why’s going on, but instead of doing so, the folks behind Cryptocoins Invest have cobbled together some outlandish story about hackers ruining their company.
The tale goes –
“To our dismay we realized that the hackers have caused more damage to the CCI network than we initially thought. They succeeded to manipulate the system that there are now quite a number of accounts at another final balance than expected. This, both positively and negatively. It has proved impossible to recover the data.”
Cryptocoins Invest hasn’t offered any word as to how much investor money was actually lost, and it’s likely that we won’t ever see a real number in these regards.
Following the failure of the company, the people behind Cryptocoins Invest have decided to relaunch and rebrand as Engofor – the opportunity that I’m reviewing today.
The relaunch was first announced back in November of this year, and from what I’ve been able to tell so far, the business model is pretty much the same as what was being offered with Cryptocoins Invest.
Engofor’s official website does list an address for the corporate side of things that’s located in the Netherlands, but unfortunately, there isn’t any data available in regards to who owns or runs Engofor.
At least, that is on their website.
I did a bit of additional research on my own, and I was able to learn that the owner of Engofor is someone by the name of Diego van der Even. In addition to this, the company’s co-CEOs are David Vink and Wendy van Dijk.
While all three of these people do appear to be real, I wasn’t able to find any additional MLM history on them outside of Engofor. This is likely as a result of language barriers that I’m facing with my research on them, so we’re left with knowing not much at all about the company’s founder and CEOs.
What Is The Engofor Product Line?
Moving right along, let’s talk about the product line that Engofor is bringing to the table.
Actually, there isn’t anything to talk about here at all.
Engofor is one of those opportunities that has decided to launch without any form of product line in place, and while this is very similar to what was seen with Cryptocoins Invest, it doesn’t create for any less dire of a situation.
No product line means that retail sales cannot take place, and no retail sales usually means that the primary source of income is being sourced directly from affiliates. This is never a setup that you want to see, and it’s usually only found with companies that are operating as a scheme or scam of some sort.
What Can You Tell Me About The Compensation Plan For Engofor?
In regards to the compensation plan that Engofor is offering to their affiliates, we’re looking at a system in which members for the company go about investing their money into packages that allow them to earn an eventual ROI.
There are three packages in question, and both Package 1 and 2 sees that affiliates invest between $10 and $50,000 into Engofor. However, the main difference here is how the ROI is handled.
Package 1 pays out a daily ROI of 4% for a total of 40 days, whereas Package 2 pays affiliates a daily ROI of 0.5% for 500 entire days. Additionally, both plans have a maximum daily withdrawal limit of $500.
Along with these two packages, Package 3 sees that affiliates invest $10,000 or more into the company. With this option, affiliates earn a monthly ROI of 10% for a 730 days.
Referral commissions are also offered here, and these are funded by downline affiliates.
Level 1 pays out the most at 5%, level 2 offers a 2% commission, and level 3 pays a commission of just 1%.
Is Engofor A Scam?
If you have heard that Engofor is a scam, then you’ve come to the right place to find out the truth.
What’s the truth – is Engofor a scam?
I would say not exactly. However, there are some things to be aware of before joining, which I have detailed in the conclusion.
You will only be successful by recognizing the weaknesses and finding a way to move past them.
Conclusion For My Engofor Review
The Engofor website tries to sell the idea that it has other income sources coming in from the likes of real estate, forex, binary options, and even other company acquisitions that are taking place.
However, without any real numbers or data, these claims are all likely falsified. And, with that being the case, it means that the only identifiable source of income is coming from invested funds by affiliates.
These invested funds are then used to pay off ROIs and commissions that are owed to existing affiliates, and this results in Engofor operating as a Ponzi scheme.
As all Ponzi schemes tend to go, Engofor will collapse once levels of recruitment and investment die down. This will result in the company being unable to pay off affiliates, and this will eventually cause the entire operation to crash down entirely.
Veen, Dijk, and Vink will then make off with the majority of all the earnings, and most all of the other affiliates will end up losing out.
I definitely hope you have found value in my Review of Engofor.
I went into a lot of detail so that you can make a proper decision about whether you want to join or not.
If you do decide to proceed with Engofor, make sure you take the time to learn how to market yourself!
My training below can help you with that.