{"id":11626,"date":"2020-10-09T19:09:35","date_gmt":"2020-10-09T17:09:35","guid":{"rendered":"https:\/\/setaffiliatebusiness.com\/?p=11626"},"modified":"2022-01-12T16:46:32","modified_gmt":"2022-01-12T15:46:32","slug":"is-freebay-a-scam","status":"publish","type":"post","link":"https:\/\/setaffiliatebusiness.com\/cz\/is-freebay-a-scam\/","title":{"rendered":"Is Freebay A Scam?"},"content":{"rendered":"

It is always good to think “out of the box”, as the saying goes, especially when it comes to the second source of income.<\/p>\n

One of the options that you might be looking for is joining this new(ish) company called Freebay.
\nTheir website looks great, and it seems that this company will transform your life for good.<\/p>\n

But is it so?
\nOr is Freebay a Scam?<\/p>\n

In this article, you are going to find out what is this Freebay MLM all about, how it started, and whether to invest in it or not.<\/p>\n

Disclaimer<\/strong>
\nPlease note, I am not a member or an affiliate for Freebay. This review is based on research and information available online in the public domain. <\/em>
\nAny recommendations and conclusions are only opinions and may not apply to all persons or situations.<\/em><\/p>\n

Freebie Overview<\/h2>\n

Jm\u00e9no: <\/strong>Freebay
\nWebsite: <\/strong>www.Freebay.ch\/en\/
\nPrice to Join: <\/strong>$50 – 480\u20ac per month (about $59 to $570)
\nRecommended:<\/strong> No. This is probably a new Pyramid Scheme.
\nI recommend Affiliate Marketing. Check the Pros and Cons of both business models (Affiliate Marketing vs. MLM<\/a>).<\/p>\n

Update January 2022<\/h2>\n

Company is no more available. The website www.freebay.ch doesn’t exist anymore.
\nThere is a redirect to another company called FB-universe.<\/p>\n

A short reserach shows that it has nothing do to with the original company called Freebay.
\nAt least for now.
\nIt is safe to assume that Freebay has been shut down, as we predicted in the following article, written in October, 2020.<\/p>\n

We have decided to keep this article on, despite the fact the Freebay doesn’t exist anymore.
\nThe reason is, there are many other companies that are very similiar to Freebay with same patterns.
\nOnce you know how to recognize such a pyrami scheme, you are much more safer and the chacnes that you fall for such a scam is lower.<\/p>\n

\n

Freebay Summary<\/span><\/h2>\n

Freebay is a new company based in Switzerland that deals with its own cryptocurrency. A person can make an investment and buy Freebay’s digital currency, called V999.
\nApparently, Freebay is your “express lane to success”.<\/p>\n

The problem with this company is that it is only a rehash of the former Ponzi Scheme called Karatbard.
\nKaratbard has collapsed at the beginning of 2020 and a few months later the same people founded Freebay (in the summer of 2020).<\/p>\n

Freebay also operates as an MLM, or to be precise, a Pyramid Scheme where money can be made only by recruiting.<\/p>\n

Stay away from Pyramid Schemes. There are many legal ways how to generate consistent income.<\/p>\n

I personally prefer Affiliate Marketing and if you want to learn more about this method, check the link below.<\/p>\n

I have learned how to create a website, how to get free traffic, and how to make 4 figures using the following method:<\/span><\/p>\n

Check More Details Here<\/strong><\/a><\/h2>\n

Sign up for Free and I will guide you through the platform.
\nNo Credit Card Needed – Just your email.<\/span><\/p>\n<\/div>\n

What is Freebie<\/h2>\n

Freebay is an MLM (Multi-Level Marketing) company that works in the cryptocurrency market.<\/p>\n

\"Is<\/p>\n

That means that you can buy a certain amount of cryptocurrency and you are told that this “investment” is going to the financial market.
\nYou are promised residual lifelong income.<\/p>\n

OK let’s slow down for a moment.
\nIt is important to mention that Freebie is just a rehash of a company called Karatbars<\/a> founded in 2011.
\nKaratbard started as a pyramid scheme and it eventually becomes an outright Ponzi scheme that did collapse at the beginning of 2020.<\/p>\n

Soon after Freebay was “founded”.
\nWithin the Freebay (as well as it was done in Karatbard company), the only way how to make money is to find a person who enrolls in Freebay and purchase some of the “products”.
\nYou get your cut and this goes down on and on.<\/p>\n

Is Freebay a Pyramid Scheme?<\/h2>\n

Let’s not just jump to the conclusion here.<\/p>\n

Freebay is a still pretty new company and there is no evidence that it is a pyramid scheme.
\nOr is there?<\/p>\n

Let’s break it down a bit. It is essential to understand what their claims are:<\/p>\n

A prospect is told to invest a certain amount of Euros. This will be converted into a cryptocurrency which BTW is made by the very same company. This digital currency is called V999 and practical, it is useless.
\nOn top of that, they claim that whoever joins, will transform his or her life and become financially independent.<\/p>\n

The “products” Freebay offers, teach how to recruit and how to “grow the team”.<\/p>\n

\"Is<\/p>\n

In other words, they teach how to convince your downline to expand and recruit others.<\/p>\n

Now, let me share with you the typical signs of the pyramid scheme:<\/p>\n

\"Is<\/p>\n

Sounds familiar?<\/p>\n

I believe you are aware of how pyramid schemes work, right?<\/p>\n

\"Is<\/p>\n

And these MLM\/pyramid schemes dealing online with cryptocurrencies work even faster than the traditional MLMs like for example Young Living<\/a>.<\/p>\n

That means that they can collapse much earlier than traditional MLMs\/Pyramid schemes.<\/p>\n

How Does Freebay work?<\/h2>\n

Recently dealing with cryptocurrencies within the MLM business model is getting trendy.<\/p>\n

It is said that everyone can join and make eventually make a profit. These are all empty promises.<\/p>\n

As of this writing, Freebay is only a few months old, but it is a reboot of Karatbars.
\nWith that being said, it is safe to assume that Freebay won’t be any different.<\/p>\n

It was possible to “invest” money with Karatbars into their currency called KaraGold Coin,<\/p>\n

KaratBars was founded in 2011 by a former vacuum cleaner salesman, Harald Seiz. Here is a short video where he talks about the future developments of Karatbars:<\/p>\n

https:\/\/www.youtube.com\/watch?v=G6lJsVKsmQo<\/p>\n

He also promised to make a big difference in the world financial system using his digital currency called KaraGold.<\/p>\n

The only thing that was done, this company artificially increase the price of this digital currency. After the coin peaks, he sells, and the price collapse.<\/p>\n

Back in 2019, regulators in Netherland, Canada, and Namibia issued a warning where it stated that Karatbars is a pyramid scheme<\/a>.<\/p>\n

The Moral of the Story?\u00a0<\/strong><\/p>\n

The same people who used to run the Karatbars are running the Freebay.
\nThe name of the cryptocurrency is V999.<\/p>\n

It is a matter of time until Freebay collapse.<\/p>\n

Just out of a curiosity let’s check this new pyramid scheme a bit further:<\/p>\n

How to Join the Freebay<\/h2>\n

\"Is<\/p>\n

You need to have a sponsor in order to sign up.<\/p>\n

With his\/her user name and ID you can register and you need to enter your email address.<\/p>\n

Next, you provide them with your personal information such as Full name, Birthday address zip code (postal code), and telephone number.<\/p>\n

After that you get to the Dashboard with the following steps:<\/p>\n

    \n
  1. Order your Package (The cheapest product costs 50\u20ac, approximately $59)<\/li>\n
  2. Upload your KYC docs now (KYC stands for Know Your Customer).
    \nBasically, you need to provide them with your ID card or valid passport, as well as a physically mailed utility bill, VAT document, and so on.<\/li>\n<\/ol>\n

    After you get:<\/p>\n

      \n
    1. Prepaid Mastercard (to receive your commissions)<\/li>\n
    2. Gold – Auto purchase to save in gold<\/li>\n
    3. Fast starts – Call to Action<\/li>\n<\/ol>\n

      They have other packages available and the more expensive you buy, the more you can earn (in theory).<\/p>\n

      What is the Price of the Packages?<\/h2>\n

      Here is the breakdown of the products and how much they cost.<\/p>\n

      It is possible to join Freebay for free, but you won’t get any MLM commissions.
      \nIf you want to be eligible for the commission, you have to pick up one of the following packages:<\/p>\n

      \"Is<\/p>\n

      EVO Academy – 50\u20ac per month, or 480\u20ac per year<\/p>\n

      EVO Expert – 190\u20ac per month, or 1820\u20ac per year<\/p>\n

      EVO Life – 480\u20ac per month, or 4600\u20ac per year<\/p>\n

      So it can be pretty expensive.<\/p>\n

      These are not real products, though.
      \nThese are just memberships themselves, in other words, this is what makes Freebay a pyramid scheme.
      \nNo products – the only way how to make money is by selling the membership.<\/p>\n

      Freebay Compensation Plan<\/h2>\n

      If you ever considered joining any MLM company, you know that their compensation plan is pretty complicated and it is made on purpose.<\/p>\n

      Freebay is not that different, but here is a brief breakdown for you, together with the commission each level makes:<\/p>\n