What Is Etherz – Big Money Or 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 that is not transparent about its owners!
Learn To Understand The Signs Of A Scam
By the time you are reading this brief review, the Etherzs domain “etherz.io” probably won’t work anymore.
“If that’s the case, why write this review?” you ask.
I write this review because people need to understand how to spot online scams so they won’t lose their hard-earned money.
What these scammers do is set up websites for a few months, steal as much money as they can, shut them down and start another one.
It’s Rince and Repeat.
It’s a vicious cycle that heartless scammers perpetuate because they steal money from people who think they’re investing in a so-called “business opportunity.”
I don’t get scammed anymore because I’ve learned how to build my own online business using affiliate marketing.
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Does Etherz Have Any Retail Products?
Another MAJOR concern is the fact that Etherz has no retail products or services for sale to the public.
Without a doubt, this is an indication of a Ponzi scheme.
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 for 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 early receive the majority of the revenue.
Therefore, what you have here is a combo of a Gifting scheme and a 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.
Again, the fee to join is critical to keep this going because it’s the only source of revenue.
Is Etherz A Smart Contract Ponzi Scheme?
Yes, it is, absolutely!
Etherz was set up from the start as a simple Ponzi scheme.
With 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 scam cryptocurrency companies, its 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 I’ve 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!
Thank you for your review of Etherz.
Oooo, from my experience if the company does not provide how they make the money or how it works right from the start, most likely, it is a scam.
I am investing in crypto currencies and I never heard such a thing.
I am gonna stay away from this platform and just going to stick to coinbase.
Hello Nuttanee,
You are correct – if a company fails to be transparent and honest about how they generate revenue, then it’s not something you want to get involved with.
Thank you for taking the time to read this post.
Howard
Good detective work on getting to the bottom of Etherz!
It is really frustrating that there are no terms and conditions, no privacy policy, and no “about us” informational page.
These are 3 big red flags if you know to look for them.
Thank you for steering your readers far away from the Etherz scam – much-appreciated work!
You are welcome, Aly!
Your comments are much appreciated as well!
Thank You for taking the time to read.
Howard