What Is Etherz – Is This A Smart Contract Ponzi Scheme?

What Is Etherz – Is This A Smart Contract Ponzi Scheme?

This brief blog post will answer the question What Is Etherz and is it a scam or legit?

Can you really make money by using a platform like Etherz?

According to Alexa, website traffic statistics indicates that over 85% of traffic to Etherz’s website originates out of India.

What this strongly suggests is whoever is running Etherz is based out of India.

From my personal experience, that’s not a good sign.

What Is Etherz – Very Little Information About The Company

Right at the start, I noticed that no information was given on the website about the company owner or who runs it.

The company has a domain, “etherz.io,” and it was privately registered on July 1st, 2020.

What’s troubling is there is no tab in the navigation for “Terms and Conditions”; also, there’s no privacy policy and nothing to read about them as they don’t even have the “About Us” tab.

When it’s obvious that a multi-level marketing company is not openly upfront regarding who the owner is, usually it’s best to stay away from it.

NEVER hand over any money to an online business who is not transparent about its owners!

Does Etherz Have Any Retail Products?

Another MAJOR concern is the fact that Etherz has no retail product or services for sale to the public.

The only thing affiliates are able to market is the Etherz affiliate membership itself.

Having noted that, let’s check out their compensation plan.

The Etherz Compensation Plan

2 X 16 MATRIX

Members of Etherz start investing ethereum on a promise of an advertised return.

The payment plan is done through a 2×16 matrix compensation plan that can be filled directly or indirectly by the team members.

There are sixteen levels, and you have to buy each level separately to receive payment on it.

It’s apparent that Etherz decided upon a more simplified version of the Pyramid scheme.

It uses a 2×16 matrix as the business model for its compensation structure.

A 2×16 matrix places an Etherz affiliate at the top of a matrix; the affiliate needs two positions directly under.

The first level of the matrix is formed by these two positions.

Level 2 of the matrix is formed by splitting the first two positions into another two positions below.

Similarly, levels 3 to 16 are generated in the exact same way; you have each new level having twice as many positions as the previous level.

Unfortunately, the top matrix levels that are occupied by the unknown owner, admins, and the few who joined in early receives the majority of the revenue.

Therefore, what you have here is a combo of a Gifting scheme and Ponzi scheme.



How Much Does It Cost To Join Etherz?

The Etherz organization is tied with an investment of 0.03 ETH at a minimum.

2048.23 ETH is needed to be part of the full opportunity that is the sixteen investment levels.

Is Etherz A Scam?

What Is Etherz – Is This A Smart Contract Ponzi Scheme?

Yes it is, absolutely!

Etherz runs on a simple Ponzi scheme.

In Ponzi plans or schemes, investors’ returns are paid for directly by revenue of later investors’, giving a false impression that the investment is a good one.

In the Etherz company, new members have to invest 0.03 ETH or more, which will then be paid to another member before them.

In turn, the new member will be paid by those added after them.

With no idea of who owns or runs the company, you have to invest between 0.03 ETH to 2048.23 ETH.

Just like every other Ponzi system, investments only move forward with the addition of new members.

Since the ethereum payments double with each level, only those at the higher matrix level get the fat wad of cash.

At least, we can praise the Etherz directors’ shrewdness, as unknown administrators are systematically placed on these higher levels to gain the most out of the funds invested.

What happens when referrals stop coming? There’ll be no new members to make investments grow further.

Only those at the top get to fatten their pockets, they get the biggest share of investment profits.

Just like other ERC-20 MLM companies, it’s collapse is imminent.

Make the right choice; stay away from investing in Etherz; Ponzi schemes are NEVER a good idea!

Etherz is similar to other crypto-scam websites Ive reviewed on this blog such as:

You Are Going To Have To Participate In Your Own Financial Rescue

The reason why so-called programs like Etherz appeal to people is because you just pay other individuals to invest money for you while you sit back and do nothing.

People want to make money without having to work for it.

What’s amazing is people are trusting their hard-earned funds to career scammers!

Too many people have the wrong idea that the internet is some mysterious ATM you can manipulate whenever you need money.

Scammers are aware of this and that’s why SCAMS proliferate the internet.

What many fail to realize is scammers are aware of human psychology…

Scammers know that they can shut down one scam website, start another one and continue to steal money from people because people are LAZY by nature.

All they have to do is appeal to your emotions to have you racing for your credit card!

That’s not how making money online works; that’s how SCAMS work.

I’m here to tell you that if you want to create a life-changing income for yourself and your family, you’re going to have to participate in your own financial rescue.

Click on the link below for more information as to how to leverage the power of the internet so you can learn to create an income that will completely change your life!


Share This Post So You Can Help Others!
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Leave a Comment