MyFirstPlant.io Review: My First Plant is a Ponzi Scheme

Welcome to our very first review of My First Plant, which is in the Cannabis investments category. En.MyFirstPlant.io (the english version of the site) is an interesting project because they purport to plant cannabis on behalf of investors. They also claim to generate ROIs after 120 days. I assume that this duration is for the sake of giving the plant time to grow, mature and also sell the harvest.

In as much as MyFirstPlant is looking like a legit project worth investing in (for those of you looking at argriculture to increase your investment portfolio), I feel that something is still not right. The red flags are important to take note of so that you don’t lose money to bogus projects.

MyFirstPlant review: company details

The company MFP My First Plant GmbH is behind the operations of this website, and they’re allegedly based out of Austria.

In the FAQ section of the site, the company admits that it is running an MLM project, which is basically saying they’re a ponzi scheme.

The company presents 3 investment plans on their website. If customers want to grow outside, they will purchase the 70€ package. This package is purchased once and harvests happen around October/November of 2022.

MyFirstPlant claims that they’re selling a plant for €30 to €100.

The other two packages cost €450 and €900 respectively. Payment is after every 120 days. It does not appear as if these plans are any better than the €70 pack.

My First Plant also offers weekly withdrawals every Monday.

According to the affiliates of this company, you will get between 40% to 50% yearly and that these returns are supposed to go on forever despite depositing money into the platform once.

Why you should be careful with My First Plant investment project

The website discloses that their CEO is called Mario Abraham. This guy has a history with ponzi schemes and one of the projects he participated in as the CTO collapsed a few years ago.

They were selling a fake token called EXW, and as always, a lot of lies and deception were involved in selling the bogus investment program.

When you find these details, you should definitely be cautious because My First Plant is not going to be any different.

The MLM structure of MyFirstPlant investment project

The company runs a complex 9-level unilevel compensation structure, meaning that affiliates have to be involved and ROI is possibly coming from affiliate deposits and not farming of Cannabis.

Affiliates are earning from downline turnover. In fact, the company even claims that if you do so well, they will reward you with a Mercedes, which is quite what all ponzi schemes say to encourage more recruits.

As a matter of fact, we’re not even sure whether My First Plant is growing any Cannabis. They claim that it is possible to sit with the ‘lead gardener’ and ask him questions at specific times of the day.

My question is how do you know whether this guy is even a real farmer? The fact that you speak on phone and he tells you that he is the lead farmer does not necessarily mean he is saying the truth.

Also, if MyFirstPlant is really generating 40% to 50% yearly ROI, am sure the cost of joining would be very high, and people would be begging to join because a good product sells by itself.

And in as much as this company thinks their audience are ignorant, at least we can Google Cannabis and how its grown in order to find out the duration it takes to grow it.

Our research shows that this plant lives for 1 year and you also have one harvest in a year. So how does My First Plant manage to pay passive income in the subsequent years?

The Conclusion

In another part of the website, My First Plant claims that the growing of their Cannabis plant happens in Switzerland.

This supposedly means they’re registered in Switzerland. Their Austria location would make sense because these two countries share a border.

However, there’s also not a grain of evidence that the company is actually growing plants in these countries. They’re only making use of a blurry photo to suggest that they have farms in these regions.

We highly doubt these guys. With all these red flags, an investor would have to be stupid to fall for the trap.

Good thing we’ve warned you about it. Stay away from MyFirstPlant at all cost.