Crowd1 is an illegal multi-level marketing scheme where anonymous investment hustlers sell imaginary products and services to consumers.
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Crowd1 is of course controversial because this platform promises revenue but has no real business idea to back it up. Instead, all the profits that the owners collect are coming from members’ deposits.
Crowd1 is actually running its business in a similar fashion to Yield Crowd, Jux Capital, Farm Sponsor and AgriChainX.
The domain of the company in question was established in 2007. However, it appears that the current owners bought the domain from someone else so as to give the impression that Crowd1.com has been around for more than a decade.
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Crowd1 Review: Products and services
When you peruse around on the official website, you will see a page where the company is peddling supposed products and services that can help members save money and enjoy certain benefits.
Just to recap on what this page is touting, we should probably list down these products as we continue with this open discussion.
- LifeTRNDS Platinum — members can enjoy discounts car rentals, hotels, resorts and cruises at discounted rates
- Tribute — members will receive skincare products and Fragrance from Africa
- Crowd Magazine — just a magazine to keep the fantasy of the imaginary first lane lifestyle burning
- PlanetX- a gaming platform
- And many more
Now, one might ask how Crowd1 is able to generate profits from these services which are then distributed to members?
The answer is that these products/services are not being sold for the purposes of generating dividends for members.
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These products/services seem to be purely a coverup so that Crowd1 cannot look like your typical ponzi scheme.
How does Crowd1 scam people?
The company entices gullible people to sign up and invest at least 109 Euros into the “starter pack”.
Once you sign up and give them your money, your earnings will depend on the number of people that sign up under your affiliate link.
You need to avoid this kind of business because ultimately, the people who make money are the owners and not members.
You also need to remember that once you spend your money on this investment nonsense, there is no refund.
If you don’t refer the acceptable number of members into the system, you are doomed.
Where is this company from?
In as much as they play anonymous, we suspect that this company is from Nigeria, a West African country that is well known for scams.
Crowd1 banned in several countries
Financial regulators from various countries have weighed into the matter because they believe this company is purely a pyramid scheme.
For example, the government of New Zealand has warned its citizens against participating in this scam. You can catch the warning here.
Other countries that have followed suite include Mauritius, Philippines, Paraguay, Namibia and so on.
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The reason Crowd1 is banned by these countries is quite obvious.
While their website might try to play with words here and there, the fact of the matter is that this company is offering an investment scheme that regulators hate to see.
There we go — there is no other evidence that consumers need to understand that indeed Crowd1 is a scam.
The fact that they are making use of a pyramid structure to sell fake products is evidence enough that this platform will steal your money and never return it.
Pyramid schemes make money by collecting investors deposits. They have no valid way of making money. So this is why Crowd1 is bogus.