Is Up2Give A Scam? FTC Warns Its Pyramid Scheme
Welcome to my Up2Give Review!
If you think bitcoin is limited to trading them on your own, it appears that multi-level marketing companies sought the need to establish an MLM bitcoin trading as well.
This is what we’re going to discuss in this post today. Aside from reviewing health and skincare MLMs, it’s interesting to find out how an MLM could establish business with bitcoins.
Want to Get My 7-Day Email Course to Make Money Online?
Enter Your Email Below to Steal My PROVEN Formula to Create Your Own "Money-Making Machine" In a Week...
We respect your privacy. No Spam.
Are you ready? Let’s dive into it. Shall we?
Up2Give Review - Quick Summary
Founder: Jerry Lopez
Type: Multi-Level Marketing Company
Price: $32 + 0.005 BTC per month + other recurring monthly membership costs
Best for: Nobody. It’s best to stay away from this bitcoin gifting scheme as it’s established without valuable products, primarily for racketeering.
Summary: According to their domain registration, Up2Give is quite a new MLM company that caters to “supposedly” gifting schemes. Not long before its foundation, people found out the shady tactics to fool people into bitcoin trading on nothing.
Is Up2Give Recommended? No. We don’t recommend multi-level marketing companies as a business opportunity for several reasons. If you opt to make money online, click the green button below to get started today.
What Is Up2Give?
Most reviews I came across on the internet mentioned Up2Give as a gifting scam. I wanted to find out why it is considered a scheme and why people should stay away from it.
If you are familiar with how Cash4invite, you already know what we’re talking about. Otherwise, you can read the review to give you a glimpse of how Up2Give works as an MLM company.
Anyway, Up2Give is a network marketing company that works with nothing but an affiliate membership with a bit of bitcoin involved in the business. At first glance, you would think this is an MLM self-development kind of thing.
What I expected before I did the research was having an MLM with bitcoins as its flagship product, at least. In my research, Up2Give doesn't have any products at all.
Do You Want a FREE& Easy-to-Follow7-Day CoursetoMake Money Onlinefor Beginners?
- My Personal 1-on-1 Support for You
Get Started for FREE Below Before this offer goes away!
So, members also known as affiliates only need to sell memberships to their respective downlines instead of selling bitcoin packages or something related to it. But, there's none.
With that being said, the company asks its members to pay around 1.345 BTC to access the benefits of being a member. Not including the recurring monthy costs to get full access of what Up2Give "supposed" to give. The costs summed up to $32 + 0.005 BTC.
Therefore, the member who pays the exact cost needed for the monthly membership, the higher the chances to anticipate full participation. Otherwise, you're not getting any value from it.
If you want to know deeper about their compensation plan, see the next section of this post.
Who Is Up2Give For?
At the beginning of the post, we assumed to discuss an interesting multi-level marketing company that’s going to challenge the bitcoin industry.
However, the more we dig into the background of Up2Give, the clearer the picture of the scheme. Lopez is reportedly the forerunner of this scheme as the CEO and founder.
According to Behind MLM, Lopez had quite a history in bitcoin in the past before he started Up2Give to scam people.
On a YouTube channel named “Project Earning,” a half-an-hour presentation video was uploaded a few months ago as part of their pre-launch.
If you take a look at the video below, you will see how Up2Give schemes people by inviting them to sign-up and spend some bitcoin money and $32 to become a member.
The member, in turn, strives hard to get as many referrals as he could to make a profit from his monthly investments.
The truth is there’s no product to sell, leaving you off-guard with promoting affiliate membership without the real product to offer to others.
Yes, this MLM isn’t a one-time-big-time investment, unlike most multi-level marketing companies I encountered so far. Lopez made sure his members pay the required threshold to enjoy the full benefits.
In terms of compensation, Up2Give follows a binary compensation plan involving certain levels of downlines in 2 matrices.
In each level, a certain amount of bitcoin money is given to the upline. Therefore, an Up2Give member merely pays the incentives of other members.
No growth in the company is observed as it only expands heavily through recruitment. This is where the scheme is becoming clearer to the members. Hence, it’s best to stay away and be out of trouble.
You’re paying monthly costs to pay the other members without an assurance if you gain profit from this multi-level marketing company or not.
If their company structure, as well as their compensation plan, left you curious, watch the video below to see how Up2Give scams its members.
Pros & Cons of Up2Give
At this point, let’s dig deeper into Up2Give’s pros and cons and see whether there is a potential business opportunity you can do, especially if you’re into bitcoins.
With that being said, here are the pros and cons based on the data given from various resources scoured on the internet.
1. Could've Been A Good Business
There’s no limit when it comes to business ideas. The same goes for network marketing companies.
You can sell anything for anyone. Every product has its market. It’s a matter of expanding the idea into a business empire.
Despite the competition between MLM companies, many of those managed to build a good reputation and became a household name, JR Watkins, for example.
In Up2Give, this isn’t the case. The company’s expansion and growth rely heavily on recruitment, which is an indication of a scheme as per the Federal Trade Commission (FTC), as defined:
"The promoters of a pyramid scheme may try to recruit you with the pitches about what you'll earn...Your income would be based mostly on how many people you recruit, now how much product you sell."
7-Day Make Money Online Email Course - 2020
Learn SIMPLE steps to make a LIFE-CHANGING INCOME online. I will help you hand-by-hand!
1. A Pyramid Scheme
The FTC also warned about the MLM scams doing similar tactics to fool members and its future victims. The first thing is encouraging recruitment "to keep a constant stream of new distributors."
As I mentioned before, your income in Up2Give relies on the number of affiliates you generate on your account because there's nothing to sell except for the memberships per se.
The second thing FTC wants to remind the people about the scam multi-level marketing companies particularly in the inventories.
In Up2Give, you are required to pay a monthly bitcoin donation and $32 aside from the investment you made to get access to the "full opportunity" it is supposed to provide.
According to the FTC, those who convince you to buy products are eligible for something or to get certain bonuses aside from the ones you already have upon membership application.
Because of the shady tactics, most members don't make enough money.
Oftentimes, it appears that multi-level marketing companies are leeches that suck every penny of its members' pockets by requiring them either or most of the following:
- Monthly membership fee
- Monthly recurring personal purchases
- Monthly home demonstrations
- Monthly training at your expense
- Yearly attendance of a grand event at your expense
Overall, even Lopez created a good business idea of having the bitcoin trading in an MLM business model, the fact that it only schemes people, it remains a good example of a bitcoin MLM scam.
2. Monthly Recurring Membership Fees For Bonuses
Although having products and legit services are the must-haves for every multi-level marketing company, it is absent in Up2Give.
One big tactic is to force members to make a minimum worth of personal purchases to be qualified for the bonus. This is true to Up2Give in a worst case scenario.
It doesn’t have clear products to sell to its stakeholders, the bitcoin miners and investors. So, you're basically paying someone's bonus.
It only focused on recruiting people to become members and pay the membership fee and other extra fees. Little did they know that the payments will be used not to grow their money but to pay other members.
3. No Real & Valuable Products
If you take a look at the biggest MLMs today, they all have legitimate programs and products for its market.
The problem with Up2Give is that the intent of building the company isn’t for the better.
The focus remains at the recruitment without guaranteeing of earning a profit after spending a lot of money on nothing.
The members pay registration fees and others keep their membership; only to find out they gained nothing.
4. Lots Of Negative Reviews
When I research a company, I often see the pros and cons and stuff like that, written to help the readers weigh their decisions to join that MLM or not. When I did the same thing for Up2Give, I only see “scam alert” in the titles.
5. No BBB Record + No Accreditation
If you have been following my posts here, you would have noticed the importance of having a BBB record as part of proving the MLM’s legitimacy.
The BBB stands for the Better Business Bureau which is a reputable company review site in which they analyze the company background as well as their ability to commit in providing the best services for their users.
That means every multi-level marketing company should have, at least, a record on the BBB to prove its legitimacy. The more complete the profile, the better the reputation it brings for them.
Up2Give doesn’t have any BBB record nor status of accreditation. Given the overall circumstances, including the warnings, this bitcoin gifting scheme is the epitome of MLM scams.
So, it’s best to be extra careful when dealing with these kinds of companies. Unless if you want problems.
Is Up2Give a Scam?
There’s no doubt that it is a scam. We already provided the FTC warnings earlier, so that’s enough to prove that Up2Give passed the red flags.
Another thing to consider is that the company failed to have any sort of accreditation status from reputable review sites like the BBB.
Most of the reviews mentioned it is a pyramid scheme. Therefore, there is nothing else to say that Up2Give is a scam. You can watch the video again and see how joining this company would benefit you.
I guarantee you, there’s none.
Conclusion - Is Up2Give Worth It?
It is not worth spending some time to join Up2Give as a member, only to sell memberships instead of promoting real products about bitcoin or something related to the industry.
The business idea of trading bitcoin in a different business model could be interesting, but this is, unfortunately, a gifting scam.
The system is similar to the rest of the schemes like Saivian in which you are required to pay membership fees in exchange for income promises.
In the end, you will not get anything from companies like Up2Give.
If you want to make a legit income, build your platform and earn a stable yet passive income. Click the green button below to know the step-by-step process.
This is why you’re here for, right? Take action today and do something to reach your financial goals.
Now that I shared my thoughts on my “Is Up2Give a scam?” post, it’s time to turn the table and ask about your experience, in general.
What kinds of experiences do you have with making money with Up2Give? Is it worth your time, money, and effort?
Do you prefer to begin earning your first passive income through affiliate marketing or you instead invest your time, money, and effort into income-generating opportunities like this?
Let me know in the comments below! 🙂
If you need any help to get started making money online, don't hesitate to ask in the comments below and we'll be happy to help you out!