Price: $10 to begin with
Have you ever heard of LetsMultiply? I am sure you have come across people offering you to join a business which works the same as this company. This type of business has become a mainstream for the past few months and even last year, with more people advertising it on different social media channels.
So what is it all about? Is it legit? Let’s find out and try to know more about LetsMultiply.
The company’s page doesn’t really have anything to be wowed about as a first impression. The page is very simple and almost blank. You would see only a few, but generalized, information on their Frequently Asked Questions page, but there is no mention of who founded and runs the company, where is its headquarters located, etc. Some references would say that it was registered on September 26, 2016 but on their page, it says that launched date was last June 2017 and that they are still in a very early pre launch.
The lack of information and anonymous profile of its founder does not sit right to most people. It creates a feeling of doubt as there is no transparency.
What is LetsMultiply?
LetsMultiply claims to be a legal MLM or Multi Level Marketing or Network Marketing. It works almost exactly the same as Bitcoin and Altcoins. Its mission is to give a worldwide solution to people who are struggling financially by giving them something to sell aside from their time per hour. This business works through the use of coins buying masterclasses and other digital products. You will work with a group or a team and will have to lure clients and affiliates. Managing customer and sales is what their members do. The more waves you activate by inviting people, the more money you earn.
I am sure this type of business is familiar to you. Most of you would start to think if this is the same as pyramiding? Though they claim not to be one and the same with those schemes and scams, all evidences point out that they aren’t an exception at all.
How Will You Join and Earn from LetsMultiply?
After registration or joining LetsMultiply, you will be asked to get a position within the business’ seven tiered matrix for $10 to begin with.
This business makes use of various matrix setups for its compensation plan. The most common one is the 3×2, 3×3, 3×4, 3×5, 3×6, 3×7, and 3×8 technique.
Joiners will start with the 3×2 matrix and as they move forward, they will eventually reach the 3×8 matrix.
To explain this better, here’s the breakdown:
- Matrix 1 — Affiliates pay $10 to unlock the 3×2 matrix and then earn $10 for each position they fill
- Matrix 2 — Affiliates pay $25 to unlock the 3×3 matrix and then earn $25 for each position they fill
- Matrix 3 — Affiliates pay $50 to unlock the 3×4 matrix and then earn $50 for each position they fill
- Matrix 4 — Affiliates pay $100 to unlock the 3×5 matrix and then earn $100 for each position they fill
- Matrix 5 — Affiliates pay $250 to unlock the 3×6 matrix and then earn $250 for each position they fill
- Matrix 6 — Affiliates pay $500 to unlock the 3×7 matrix and then earn $500 for each position they fill
- Matrix 7 — Affiliates pay $1000 to unlock the 3×8 matrix and then earn $1000 for each position they fill
Is LetsMultiply A Scam? What’s the Verdict?
Just like any other business opportunities, you will find references that will tell you this is legit or this is a scam.
To know the truth, check everything that the company offers at the table. LetsMultiply ends up featuring elements of both cash gifting and pyramiding.
Before checking out the compensation plan, check this obvious marketing pitch from LetsMultiply:
“People around the world are sending you money directly and immediately into your wallet all day long.
The faster you add your name to the list, the more people are added to the list right after you and sending you money.”
Every time members send other members money, this is cash gifting. Also, checking on how the company needs affiliates to ask new members to come and join the matrices, you cannot cross out pyramiding.
Only those who are already on top of the system will end up coming out victorious. And these most likely belong to the admin of the company.
New members will pretty much be guaranteed to run out of people to recruit even before they have earned so much, so you best option is to just avoid such kind of business online.