Hey how are you doing?
You’re probably here because you want to know is Freebay a scam or a legit way to make some extra cash.
Well within my review I’ll be going over how this company came about, what it is selling, how much it cost to join, how you’ll make money with them, and more.
This way you’ll have a full understanding as to what this company is about and whether it’s right for you or not.
So with that said, let’s get started.
Quick Summary Of Freebay
Price: Free – $4,600 Euro a year
Rating: 0 out of 5
What Is Freebay?
Freebay is a new MLM company that claims you can make a lot of money by investing cryptocurrency into their platform.
The CEO is named Jurgen Pulvermuller — and he says that “Freebay is your express lane to success.”
However as you continue reading my review, you’ll see how this statement couldn’t be further from the truth.
And to start off, let me tell you the REAL reason why this company got started.
The Reason FreeBay Was Created In The First Place
Freebay isn’t some new company like they want you to believe, but rather it is a reboot of another one called Karatbars.
Now in short, Karatbars was a pyramid scheme that said you could make money by recruiting people into their system or by trading their KaraGold Coin for gold.
However this didn’t last long because the founders of this company were pocketing all the money people were investing — which made Karatbars go bankrupt.
And guess who was the head of global sales for this company? None other than Jurgen Pulvermuller himself.
Now the fact that he “abandoned ship” after the collapse of Karatbars and then went on to create Freebay just shows that this company is not worth trusting.
And to prove my point further, an article written on Economist.com talks about how the Bank Of Namibia declared Karatbars to be a pyramid scheme.
What Does Freebay Sell?
Freebay isn’t selling any type of product or service.
On their site however they will claim they are selling something called Freebay Academy which is supposed to be videos teaching you about cryptocurrency.
However again this is nothing but a front as the only thing you can “sell” is access to their membership/opportunity of making money and nothing else.
So instead of you selling physical videos / lessons talking about cryptocurrency — you’ll instead be telling people that they can get rich if they join your team — which again is the definition of what a pyramid scheme is.
Freebay Compensation Plan
Freebay’s compensation plan is quite long and confusing, especially if you’re not used to reading MLM compensation plans like I am.
So to help make things simple for you, I will highlight the basics so you can see how it works.
There are 12 ranks you can obtain which are as follows…
- One Star Sapphire
- Two Star Sapphire
- Three Star Sapphire
- One Star Emerald
- Two Star Emerald
- Three Star Emerald
- One Star Ruby
- Two Star Ruby
- Three Star Ruby
- One Star Diamond
- Two Star Diamond
- Three Star Diamond
Now to climb in these ranks, you have to build a team and generate a certain amount of money per month. And the more you make, the higher you will get ranked.
Also depending on what package you buy can determine where you start off at.
- If you join free you’ll start off at rank 1 ( One Star Sapphire )
- If you buy the EVO Academy package you’ll start off at rank 3 ( Three Star Sapphire )
- If you buy the EVO Expert you’ll start off at rank 4 ( One Star Emerald )
- If you buy the EVO Life you’ll start off at rank 5 ( Two Star Emerald )
The way Karatbars said you could invest their KaraGold Coin for gold, Freebay is basically doing the same thing ( surprise surprise ).
They say if you invest in their V999 token, you can make a daily profit of 0.02%.
Depending on what rank you are will determine how much you’ll make when you recruit someone into this membership.
Here is how much you’ll earn based on what rank you are…
- One Star Sapphires = 7% commission
- Two Star Sapphires = 15% commission
- Three Star Sapphires = 21% commission
- One Star Emeralds = 23% commission
- Two Star Emeralds = 25% commission
- Three Star Emeralds = 26% commission
- One Star Rubys = 27% commission
- Two Star Rubys = 28% commission
- Three Star Rubys = 29% commission
- One Star Diamonds = 30% commission
- Two Star Diamonds = 31% commission
- Three Star Diamonds = 32% commission
Freebay uses a binary commission structure within their plan.
This means as you are recruiting people, your team will be split into two sides — one on your left and one on your right.
Now depending on what your team member paid when signing up will determine their gross volume ( GV ) as seen here:
- EVO Academy monthly payment = 2 GV
- EVO Academy yearly payment = 24 GV
- EVO Expert monthly payment = 5 GV
- EVO Expert yearly payment = 60 GV
- EVO Life monthly payment = 10 GV
- EVO Life yearly payment = 120 GV
And when one side of your team makes 25 GV and the other side makes 50 GV that makes a pair — or a commission.
And depending on how many pairs you make in a week will determine the amount of money you will earn — with 180,000 pairs being the max you can make
There are also a few different bonuses this company offers such as the Matching Bonus and Generation Bonus.
Now instead of going over the full details about these bonuses, you can watch this video that does a great job explaining about them and how their entire compensation plan works.
How Much Does It Cost?
There are 4 different packages you can choose from when becoming a member of Freebay.
- Free = you don’t pay anything and start off at rank 1
- EVO Academy = You can pay $50 EUR / month or $480 EUR / year and start off at rank 3
- EVO Expert = You can pay $190 / month or $1,820 / year and start off at rank 4
- EVO Life = You can pay $480 EUR / month or $4,600 EUR / year and start off at rank 5
Now as you can see, depending on what package you buy will determine what rank you start off at — which will result in the amount of money you can potentially earn.
What I Like About It
- I couldn’t find anything positive to say about this company
What I Don’t Like About It
- This company is a Pyramid / Ponzi scheme
Freebay is clearly running the same scam as it’s previous company did.
They promise you’ll make a lot of money solely by recruiting people into its membership or by investing into their V999 token.
Of course all that will happen is you will lose any investments you make and have no chance of getting it back.
- There’s no proof that their platform works
Freebay makes big claims that the money you invest will continue to grow day in and day out.
However they fail to provide any real evidence that their platform works, let alone that people are actually making money.
And the reason they can’t show any proof is because of one simple explanation. It does not work.
- Their company is not properly registered
Freebay is not properly registered with a financial agency. This means that they are committing fraud, and anyone who is promoting this business can get in trouble.
- Chances of succeeding are low
Even if you don’t care that this business is a scam or if you don’t believe it — this does not change the fact that the chances of you earning a lot of money is very low.
This is because you will need to recruit hundreds of people each month to actually succeed.
Now how many people do you think you can realistically promote this too — and out of these people you will be asking how many do you think will join this shady company?
I’m guessing almost none.
Is Freebay A Scam?
Freebay is without a doubt a scam.
It is owned by a person who was part of a pyramid scheme in the past, it sells no real products, there’s zero proof that anyone has earned income with their platform, and they are not properly registered.
So I highly recommend you don’t spend one second or a penny on this opportunity because nothing good will come from it.
Is Freebay A Pyramid Scheme?
Freebay is indeed a Pyramid Scheme and Ponzi Scheme all rolled into one.
Similar to another company I reviewed back called BitKrypton, the only way they say you’ll make money is by recruiting people or by investing cryptocurrency into their platform.
However the way these schemes work is once recruitment / investments slow down or stop altogether the company collapses onto itself because it can’t pay everyone.
And this is EXACTLY what will happen to Freebay not too long from now.
Also to help prove my point, you can watch this short 2 minute video that explains in more detail what a Pyramid Scheme is.
My Final Thoughts
I am not big into MLM companies and probably never will be — however Freebay is far from a legit company and was created for one reason and one reason only.
To steal your hard earned money and line the pockets of Jurgen Pulvermuller ( the CEO of this company ).
So instead of wasting your time with shady opportunities like this, why not learn how to generate a reliable online income with a proven method such as affiliate marketing?
With this there’s no recruiting whatsoever, you can sell whatever products you want, and you don’t have to spend a dime on advertising.
You simply create helpful content that points people towards products they’re already looking for — then you get paid a commission each time they buy something.
So if this sounds like something you might be interested in, check out my #1 recommended training online.
It gives you step by step training, 24/7 support, all the tools you’ll need to be successful, and best of all it’s 100% free to join.
I hope you enjoyed this review and can see now why I don’t recommend you join it.
If you have any questions though, feel free to leave comment below and I’ll be happy to help you out.