HOW TO KNOW A SCAM PEER TO PEER DONATING PLATFORM (PONZI SCHEME)

5 SIGNS THAT A PEER TO PEER DONATION PLATFORM IS A SCAM

As a network marketer, it has become increasingly difficult to recruit people into some of the network businesses that I am involved in due to insurgence of scam platforms that use the strategy of networking to defraud people.  Most people don’t know the difference between a peer to peer platform and network marketing and once they are defrauded, they believe all are the same.

A lot of schemes are created on daily basis by cunning IT professionals and website designers whenever they need money, most of them crash after two or more days of existence. A lot of people have lost their monies, this I say is due to their ignorance, because I was a victim too and I knew it was because I was an ignorant. Being a victim however spurred me to research and be able to recognize scam peer to peer donation platforms.

Below are the indisputable evidences that a peer to peer platform could be a scam.

1. Unknown Creator:
Any donation platform that the name of the creator is not there is possibly a scam.
That is the number one thing to look out for. Such must have been created to dupe people and fold in a short possible time; however, this is only possible in donation platforms that are automatic referrals. They feed on people’s crave for “something for nothing”, get the best of them and disappear without trace.

2. Automatic Referral:
A lot of people won’t join any donation platform except it is automatic referral; this leaves them more susceptible to scam.  In automatic referral platforms; especially the ones without a known creator, the creators of these platform participate in it, most of them have the first set of people that register pay to them, they merge themselves to most payments and create a lot of vacuum; a lot of unpaid participants, especially within the stipulated time. This dissuades people from investing and leads to eventual pack up.

3. Automatic Referral & Referral bonus:
The combination of these two is strategy to gain a lot of donators in a short time possible, but when these two are combined and the creator is not known, or a traceable office address, it is a warning sign that it could be a scam.
The creators could also have created it to enrich themselves alone, but referral bonus will mean they will attract more people before they crash it.

4. Short time to donate:
Though this is not at all time a warning sign, but it could be if the scheme has the above stated sings too, some give only 6 or 12 hours before you are removed, this is a scam if it does not have the creator stated, it is automatic referral and also has referral bonus. With that, it could be a strategy to make people donate quickly so they can crash it and open another one. However, this is never a sign of scam if it is not automatic referral.

5. Lack of details & purpose:
This is one of the most reliable signs that a peer to peer site is a scam and will crash within days on inception. If a site does not have any reliable details on the “About Us” and has no clearly stated vision, mission, comprehensive details on how it works, the terms and conditions, Frequently Asked Questions (FAQ) and Customer Care Services, it is a very valid sign that it is a scam and the creator intend to crash it soon. It shows there is no plan for the future; neither do they care for you.

To avoid losing your hard earned money, it is important you pay attention to the above signs. I must also say here that a peer to peer donation platform where you have to donate to someone that brought you is never and can never be a scam. This type of manual referral donation platforms like iCharity. Club, Naracle, Ecooperative, PaidRocket, and the likes are no scams. This testifies to the reason why their sites remain there, whether people use them or not. However, people’s unwillingness to work for their monies and lack of knowledge pushes them away from these platforms.

For more information on other reliable network businesses, kindly join our Facebook group here:  https://web.facebook.com/groups/1189667091087232/
                          
Written by Soul’e Rhymez
Poet & Public Speaker, based in Lagos Nigeria.

To invite him for Seminar/lecture. Kindly call: +2348163800077 or send email to: soulerhymez@gmail.com

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