Lendconnect is a scam or not?
How Lendconnect works
Lendconect gives people the opportunity to lend money and make money with the interest rates, here is their scheme:
- Package 1 – $100-$1000, 120 days, 155% Interest per Month
- Package 2 – $1001-$5000, 100 Days, 158.1% Interest per Month
- Package 3 – $5001-$15,000, 80 Days, 161.2% Interest per Month
- Package 4 – $15,001-$100,000, 60 Days, 164.3% Interest per Month
But the real way to make money with this program is through recruiting. Ponzi schemes like this one offer a product, landing money in this case, just to show that they actually have a product, but they are just MLM schemes whose real interest is recruiting people.
These schemes eventually come to an end.
You invest your money here and just when you recruit other people you start to see a returning for your investment. So it is designed with the need for recruitment to gain a profit. When you recruit new people (first-tiers) you will get a 8% commission of their investment, the commission for second tier recruiters is 4% and you earn something for third and fourth tier recruiters which is lower.
The Lendconnect Products
Lendconnect involves investing and this is their product. But a negative aspect of it is that it is more focused on pushing people to get new referrals than getting people to invest in it.
I just signed up to Lendconnect tonight and basically it has a list of things you have to agree on before you sign up.
The Red Flags
1. The landing is just a cover for their recruiting Ponzi scheme. These schemes never last. Ponzi schemes sometimes do pay out but they are extremely risky to get involved with.
2. There is little information about the company on their website. They also do not provide any information about who owns and who runs this company. Their website has been privately registered in November 2017. The fact that so much information is lacking from Lendconnect is really a troubling sign.
3. They claim that they are going to invest your funds in cryptocurrency but there is no further explanation of this. They actually get the funds from other people who affiliates recruit, not as a return from the investment in cryptocurrenc. When you are faced with a website which doesn’t give any information about their operations, better stay away from it.
What People Who Invested on It Are Saying
There are little reviews about this program from people who actually used it.
However, here are some of them on their Facebook page:
I am surprised how Lendconnect managed to have an average score rating 4.2 out of 5 on Facebook. Probably it could be because people first thought it was legit and the first reviews grow this average score.
Because clearly, the last reviews that people left, all are negative.
Here is another chat with their customer service from a customer:
The Conclusion About Lendconnect
The conclusion is to stay away from Lendconnect.
They are far better and secure ways to make money online than to just simply hand you money to a company which promises to invest them for you in cryptocurrency.
Lendconnect is a Ponzi scheme and once you have lost money they will be impossible to recover. Once Lendconnect stops having more people who invest in it, there will not be anymore profits for people’s investments and Lendconnect will be no more.
I know this because I have seen a lot of similar Ponzi schemes in the past.
A Better Way to Make Money Online
There are so many internet scams that people find it hard to believe that there is a program where people can really make some money online.
I am using a program which works. It doesn’t make you money fast as these scams makes it seem will be, but it teaches you how to build a successful online business. Everyone can do affiliate marketing is they are taught how to do it in the right way.
The information on this site is very little.
Wealthy Affiliate Success Stories
The internet if full of scams, but luckily we live in a time when everyone can write a customer review about products, so that you can find on the internet plenty of information about products you intent to buy.
One of the truly good things about the internet is that anyone can start an online business and make it big.
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