Ethersmart.io Review: An Eth Ponzi Scam, Keep Off
Welcome to the Ethersmart.io review. Ethersmart is based on the Blockchain Ethereum technology and claims to offer a lifetime daily return of between 2.5-5%.
The system is allegedly distributing funds among members based on an autonomous smart contract. The owners of Ethersmart claim that their project offers the easiest and safest investment mechanism.
The question is whether Ethersmart is a legit investment opportunity. Should you get involved with this ponzi scheme? The answer is almost always clear. But let’s get into the details first before we summarize this Ethersmart review with a warning.
The Ethersmart website was anonymously registered in September 2018 and claims to have registered some 400 active members.
They claim that 91% of funds have been dedicated to their investors, another 7% and 2% goes to advertising and technical support respectively.
As always, you should be extremely careful with MLMs that do not want to expose ownership details.
Think long and hard because there is no reason why a legit website would want to keep the owner mysterious.
There are some alleged benefits to participating in the Ethersmart website’s offering. These include the following:
1 The smart contract has been audited and tested for vulnerabilities by a company of experts.
2 Ethersmart guarantees security and transparency of the Eth smart contract’s operations
3 5% daily return (accruals every minute)
4 Affiliate rewards start at 10% in first level, 8% in second level and 5% in third level respectively. This is uni-level compensation structure
5 2% of affiliate deposit goes to the referrer.
6 Circumspect marketing where Ethersmart claims to market the project in order to ensure its sustainability in the long run.
7 Safety of investment, quality support and instant payments
8 Refusal of owning, meaning that it can’t be owned or interfered with by any government or individual.
Is Ethersmart smart contract a real blockchain? Yes, it is. They’ve given us a link which can be used to verify the presence of this project on the Eth blockchain network. It can be tested here (https://etherscan.io).
Ethersmart review – why it’s a bad idea
You see, money has to come from somewhere in order for people to get paid.
By simply uploading a smart contract into the blockchain network does not mean that money will start to create itself from nowhere.
If you look at how Ethersmart works, you will quickly understand that there is no retailable product or service. Instead, the system is selling affiliate memberships, which is the main and only means of generating funds through this Eth smart contract.
Ethersmart does not prove that funds are generated from other sources. Instead, it wants your deposits in order for the Blockchain Eth network to pay its members.
The way I see it is that this is just a smart ponzi scheme where the operators opted to use the blockchain network rather than keep things the ordinary way.
So 2% of the deposits go to the people who introduced the new affiliates.
The way funds are distributed have been highlighted on the site. What they are not telling their audience is whether returns are primarily generated by investor funds or other sources.
Ethersmart review – why you should keep off
You must keep in mind that the owners of this project are anonymous, which is very common with many Cryptocurrency ponzi schemes out there.
The reason for this anonymity is because they do not want accountability when they eventually do a runner with all the funds.
Secondly, a ponzi scheme is not a sound business model since it has been proven that all ponzi schemes inevitably collapse at some point.
This happens because investors simply stop funding the project when they realize that it is not a legit business operation.
There are better ways of investing your money for future returns. You can trade Cryptocurrencies with these bots or you can trade Forex.
If you have something to say regarding this Ethersmart review, please write your comment below.