If you want to know Is PayAsian Legit so you can join the platform and make some money, you have come to the right place.
This brief blog post will tell you all you need to know about PayAsian as a multi-level marketing platform and what they have to offer.
Make sure you read this PayAsian review completely.
Is PayAsian Legit – Summary
- Company Name: PayAsian
- Website: The website is no longer active
- Registration cost: at least $100 up to $100,000 investment!
- Rating: 0/10
- Recommendation: Not recommended
There is nothing legit about PayAsian, and I do not advise anyone to join this platform.
On the regulatory front, PayAsian has already attracted attention.
The regulatory authorities have already targeted PayAsian because the Philippine SEC issued a fraud warning about PayAsian back on November 14th, 2019.
What that means is PayAsian will eventually collapse under the weight of its own fraud.
PayAsian Update – March 2020
As expected the Securities and Exchange Commission (SEC) has ordered Payasian Pte. Ltd. Corp. to stop marketing the cryptocurrency called Paya without the proper license.
In an order issued in March 2020, the SEC directed Payasian to “immediately cease and desist under pain of contempt from further engaging in, promoting and facilitating selling and/or offering for sale securities in the form of investment contracts and/or other activities/transactions.”
As is common with your typical Ponzi / Pyramid scheme, PayAsian did not have any tangible retail products or services to sell to the general public.
The basis of their income was to deceive people into investing in worthless PAYA tokens which have no monetary value outside of PayAsian.
Also, PayAsian came under investigation from regulatory authorities in The Philippines.
Eventually, without fail, all Ponzi schemes and pyramid schemes like PayAsian will eventually crumble under the
Is PayAsian Legit – Facts About PayAsian
From the name, PayAsian is a platform that targets investors across different countries in Asia.
The company was founded in 2018, and Hero Vu is the CEO.
The domain name, payasian.co, was registered in April 2018.
Singapore is the registrant country for PayAsian.
However, PayAsian isn’t Vu’s first venture into multi-level marketing.
As it turns out, Vu also founded and promoted another company named SunCoin in March 2018.
The details as to what happened are unknown; SunCoin collapsed and with it disappeared the money of Cambodian investors that were scammed by Vu.
However, we are inclined to believe that the collapse of SunCoin paved the way for PayAsian.
To earn on this platform, you will have to exchange or invest money to get PAYA tokens.
As you continue to participate in the platform, you continue to earn more PAYA tokens.
Another way to earn is to recruit people to join and build a downline.
It’s obvious that when you look at the facts, this so-called investment opportunity operates as a pyramid and Ponzi scheme.
PayAsian Red Flags
There are lots of red flags about this platform that should discourage you from investing.
A fraud warning has already been issued by Philippine authorities against PayAsian.
The platform offers passive income opportunities, which means they are offering securities.
However, the problem is that they are not registered with relevant authorities in any country; thus, PayAsian is guilty of securities fraud.
Promoting this offer, on the other hand, can get you in big trouble.
Hero Vu, the CEO, has also pushed several scam crypto platforms.
SunCoin is one of them, and a lot of Cambodian investors lost their hard-earned money when it collapsed.
Is PayAsian Legit – Are We Looking At A Ponzi Or Pyramid Scheme?
PayAsian is a Ponzi scheme and pyramid scheme. Why?
It is a Ponzi scheme because they deceive investors about their source of revenue.
Investors believe they get ROI (return on investment) from the PAYA token they purchase.
Meanwhile, investment from new members is the actual source of revenue.
Money from new investments is used to pay existing investors.
The platform will eventually collapse once recruitment/investment slows down, and lots of people will lose money when this happens.
PayAsian also operates as a pyramid scheme since it has no retail product to offer except membership recruitment.
They are interested in bringing more and more people into the system so they can swindle them.
PayAsian is similar to other cryptocurrency MLM scams I’ve reviewed on this blog such as:
Is PayAsian Legit – Becoming Successful With PayAsian Is Going To Be Very Difficult
Their offerings sound attractive enough.
You invest your money, and you will be given a cryptocurrency, and you will be given more when you refer people.
You cannot pay for anything with this crypto, but you can exchange it for real money, if correct?
Some people may be able to exchange crypto for money in the beginning. The overwhelming majority, however, will not have this opportunity.
Several reports have shown that 99% of people who invested in a normal MLM company lose their money.
Therefore, I don’t recommend investing in this platform.
What Are the Products Offered?
As far as PayAsian is concerned, there is no real product to offer.
The only thing you will be getting when you invest is PAYA coin, which has no value outside this platform.
You cannot use this coin to pay for anything. And the value of the coin is whatsoever the people running PayAsian decide.
The value, currently, is $0.3.
it is still worthless since this platform operates as a pyramid/Ponzi scheme.
All this platform is concerned about is new recruits and their infusion of new money.
What I Like About PayAsian
Nothing.
Absolutely nothing at all.
What I Dislike About PayAsian
- Worthless crypto. There is value in bitcoin since only a particular amount can be mined, and it can be used as an acceptable method of payment in different places. PAYA token has no real value. No merchant, store, shop or individual will accept this coin for payments.
- Operates as a pyramid scheme. There is no product or service to offer. The only thing you can do to earn is to recruit people. Any company that ties its source of revenue to recruitment is destined to fall/collapse.
- Currently under investigation. A fraud warning has been placed by Philippine authorities against PayAsian. There are not registered with any relevant authorities and are guilty of securities fraud. The platform is misleading investors about their source of revenue.
- The CEO of PayAsian is a known fraud. The CEO of this platform has a history of scam involvement. He created a platform that scammed lots of Cambodian investors before it collapsed.
- Doomed to fail. Once investment and recruitment slow down, the platform will collapse since they won’t be enough money in circulation. A lot of people will lose their money when this happens.
My Verdict of PayAsian
Is PayAsian a scam or a legit platform?
PayAsian is a flat-out scam, and I don’t recommend joining.
As a matter of fact, at the time of this writing, the Philippine SEC may have already shut down PayAsian.
This platform will collapse very soon, and the only people who will make money would be the owner and early investors.
When the platform falls, investors will be left with worthless PAYA tokens, which cannot be used anywhere.
Get Free From Multi-Level Ponzi and Pyramid Schemes
What I strongly suggest is that you stop relying on the pyramid schemes of unknown scammers and build your own online business.
The moment you come to understand that you’re going to have to participate in your own financial rescue, the sooner you can start making real progress toward financial freedom.
The days are gone when you can just throw money at a business and see what sticks!
Ponzi schemes like PayAsian will never work – they’re designed to make the owner of the Ponzi scheme a ton of money and then it’s dissolved.
What happens is when the owner of a dissolved Ponzi scheme is done, they go and start another dishonest Ponzi scheme.
This happens over and over and over again.
These sick individuals keep doing this because they know there are more than enough gullible people they can always take advantage of.
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Wow in this day and time when so many platforms are appearing on the scene promising to help you to live your dreams by following and investing in their training you should do your homework first to find out if they are the real deal.
So many scammers are out there taking advantage of unsuspecting people!
That is a lot of money however they are asking for and there are very few people in this current day and time during this Covid 19 pandemic that can come up with that kind of cash.
Thanks so much for sharing and sounding the alarm. This scam program and every other need to be shut down.
Hello Norman,
Your comments are spot-on!
You are correct that ALL of these platforms that purposefully scam people need to be shut down.
In the meantime, I wish you much success in your online business!
Talk Soon,
Howard
Thank you so much for writing the truth behind PayAsian!
I was almost deceived by them because one of their ‘followers’ just offered me to invest in their cryptocurrency.
Their website looks nice and clean, so you would think they are legit.
If their CEO is a known fraud, it has already raised a huge flag for me.
One of my friends just invest in them, so I will share your article with him to stop him from wasting money further.
Thank You for your comments, Alblue.
PayAsian is a cryptocurrency fraud and I definitely would put the brakes on this one!
You are much better off building your own online business with Wealthy Affiliate.
Thanks Again,
Howard