Is Tradenance scam or legit? I get it, we all want to make money and seemingly “easy money” has a certain allure to it. Let’s face it, from as early as the Gold Rush and other eras in the history of this planet, people have made seemingly easy fortunes by taking advantage of certain opportunities.
So to answer the question “Tradenance Scam or Legit?”, I will say it outright that this is a scam and you would do your best to stay away from in. I’m not saying that you won’t make money from it but the truth of the matter is that it is frighteningly similar to other crypto Ponzi schemes being peddled out there and in this article, I will dig deep into the hows and whys so you make a more informed decision.
As I write this article, I am coming out of a similar company, FXTrading Corporation which recently shut it’s doors, to some degree, and has taken on a new format. To their credit though, they promised to pay back all the invested funds but have been changing goalposts more than on FIFA 2k.
It remains to be seen whether or not people will receive all their funds back. In order to help you make an informed decision about Tradenance and other similar programs that will keep popping up in the future, let me help you understand the benefits between a legitimate company and what is known as a Ponzi scheme.
Anatomy of a Legitimate MLM Company
In order to prove the Tradenance Scam, I will describe what a genuine MLM company looks like. Multi-Level Marketing (MLM) companies, also known as Network Marketing companies have received a lot of bad press over the years and, to some degree, rightly so. A lot of these companies have come and gone over the years having promised heaven but leaving those they courted with nothing but broken dreams.
I have personally joined a number of them over the years with different experiences. I’ve made some really good money in some and not much in others. I believe my experiences can also help you make some good decisions now and further down the road.
Though there is no way of telling which companies will last the distance and be around years, or decades later, there are ways of minimising your risk as well as soothing your conscience should you choose to promote them to others.
A genuine Multi-Level Marketing company has at least one product or a suite of products that are being exchanged for money. There are actually commercial transactions taking place where people are paying money and goods are being received.
These can be physical goods or digital products like e-books, courses, software e.t.c. The bottom line is that actual value is being delivered within the system and not just money changing hands.
MLM companies have been called pyramid schemes and all other bad names by people who have either been burned or know someone who has. The funny thing though is that just about every organisation is a pyramid.
You have the CEO/ Owner at the top and an organisational pyramid under him. I’m not downplaying their concerns but I just find it funny when people use that as a line of defence.
Many established and wealthy people that understand the true power of an MLM company have said that they would get into MLM if they should ever lose all their money.
Though the MLM structure is a pyramid, a good MLM company will have a limited number of levels at which someone can get paid. I will show you how most Ponzi schemes don’t follow this format.
If you take note of the pointers I have highlighted here, you’ll be well-positioned to make the right decision as far as joining a legitimate company is concerned.
I am going to talk about how you can easily recognise a Ponzi Scheme.
Anatomy of a Ponzi Scheme
I learned the hard way about what a Ponzi Scheme is and I will share about my experiences further down in this article. The Number One characteristic of a Ponzi scheme is that there is no product that is changing hands. It’s simply money moving from one person to the other.
The system consists of of a hierarchy that has unlimited earning potential. This is how a Ponzi scheme a.k.a, a Pyramid scheme is structured.
The pyramid keeps going down deeder and deeper and will come to a place where it can’t sustain itself anymore and eventually collapses on itself. The people at the top make a lot of money but as more people get in at the bottom, the sructure becomes too big to sustain.
My First Encounter With a Ponzi Scheme
My first encounter with a Ponzi scheme was not a personal one but I witnessed a cousin who got my mother and aunts involved in one and it, unfortunately, collapsed soon after. She ended up having to pay back her friends and relatives who she had convinced to come on board.
This was in the early 1990s when I was about 12 years old. The system has remained the same and they give it different names and labels to try and sell it to the masses. These days it’s taking advantage in the rise of crypto curencies and forex trading.
To cut a long story short, I, later on, had multiple encounters with Ponzi schemes as an adult, made money on some and not so much on others and at one time, almost got arrested for promoting one. All these experiences have taught me the truth about how these systems work and I am sharing this knowledge with you.
You Can Make Money But is it Worth the Price?
The fact of the matter is, you can make a lot of money if you get in early, but can you live with yourself afterwards knowing that you made the money at the expense of others who came in too late in the game?
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My Conclusion/ Verdict
So regarding the Tradenance Scam (There I said it), it’s best you stay away from it and focus on legitimate offers that are out there and have been around for over 10 years and will reward you for your efforts and live you with a clean conscience.
Let me hear your thoughts and comments below.