Let me start by saying that not all MLMs are scams. In fact, many of the MLMs or network marketing companies I know are quite useful and effective, but I am going to focus on those that use cryptocurrencies. After researching the benefits and drawbacks of such companies and with over 10+ years of experience, I have come to the conclusion that joining a cryptocurrency MLM is the worst idea any person can have.
Watch the full episode of Why you should NEVER JOIN Cryptocurrency MLMs?
Why you should NEVER JOIN Cryptocurrency MLMs?
There is a bright future ahead for cryptocurrencies. But not all crypto coins have usage and benefits. Some of them are worthless and few of them will stay and stand the test of time. I am a cryptocurrency investor. I do my own research. The idea of making a profit from crypto MLMs doesn’t sound good to me as the network marketing model doesn’t fit in the cryptocurrency space. If you want to join a network marketing company, you need to look at these things:
- A reputable & publicly-traded company on NASDAQ
- A consumable product(physical product not digital like cryptos) without competition – 9 Patents in 28 peer reviews
- A company that participates in billion-dollar trends and market
- They provide the best training system
- They have a compensation plan that pays while you sleep
- A company that has a global reach at home to more than 25+ countries
Here are some quotes from Randy Gage, a successful author, motivational speaker, and network marketing master.
“Probably the worst hustle happening in our space over the last year has been the rip-offs posing as cryptocurrency network marketing companies.”
“But to start a network marketing company and build the product line around a cryptocurrency, is simply a laughable idea.”
“But cryptocurrencies are certainly not a viable product line for a direct selling or network marketing company.”
“There are literally dozens of network marketing cryptocurrency scams popping up. Most of these are more outrageous than the original.”
Disclaimer: We are not financial advisors. The content on this website and our YouTube videos are for educational purposes only and merely cite our own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won’t experience any loss when investing. Always remember to make smart decisions and do your own research!