Freebay Review: Quick Summary
Name: Freebay
Description: Freebay is a network market company that focuses on providing education in the financial markets. While it doesn't seem too expensive to get involved, you should think twice before joining. Investing in the financial markets doubles the risk of losing money. Without any marketing skills, most people also fail to succeed as these companies tell you to recruit friends and family.
Price: $50-$480 monthly
Is Freebay a Pyramid Scheme
When you invest to become a member of an MLM company and don’t receive any tangible products to sell, it is considered a pyramid scheme. Freebay doesn’t offer anything to their members for reselling, therefore it is considered a scam. This is definitely not a company I would recommend joining.
Pros
- I’ll get back to you on that
Cons
-
- Training
- The Only Way to Earn is to Recruit
- Complex Compensation Plan
- Mostly Everyone Will Lose Money
Freebay is a multi-level marketing company that was established in 2020.
As this company capitalizes on those seeking an education in the financial markets, you may have stumbled on this page because a family member or friend recommended you to join and referred to it as being a GREAT BUSINESS OPPORTUNITY!!!
The truth of the matter is that you have been presented with this opportunity by someone you know because the only chance to earn an income within Freebay comes from recruiting others to join.
That fact leads to why an MLM company can be labeled as pyramid schemes, but I will not label Freebay as one for now.
So to know whether or not this business opportunity is right for you, this post will provide full details on what is Freebay about and all it has to offer. I must share the fact that I am in no way associated with the company and I am in a position to share this review due to past experience with another MLM company called World Ventures.
In striving to make a passive income in the past with World Ventures and other past business failures, internet marketing has proven to be a success and is the best way to go about marketing products and services.
MLM companies will turn you into that annoying friend that harasses everyone you come across to join or buy your products.
It’s a known fact that there is a low success rate for members within Multi-Level Marketing Businesses and if you consider joining it would be in your best interest to learn everything you can regarding marketing online to reach a wider audience instead of being limited to the people in your circle.
If you want to learn how to make money online for the best chance of establishing a passive income and live a more free lifestyle, subscribe and get weekly content and a free 7-day course for making money online.
Now it’s time to get to the review of Freebay and see if it’s the right opportunity for you.
What is Freebay About?
Freebay is a marketing tool working in conjunction with another company called Karatbars International. Harald Seiz is the owner of Karatbars, and a lack of transparency makes the leadership positions of Freebay a mystery. The company claims its mission is to “Give yourself career others only can dream about”. As we dig deeper into the review we will see how that claim holds up.
Membership
There are 4 options to get stared with Freebay which is detailed below.
- Free – no cost but must rank qualify to earn MLM commissions
- EVO Academy – €50 EUR monthly or €480 EUR annually
- EVO Expert – €190 EUR monthly or €1820 EUR annually
- EVO Life – €480 EUR monthly or €4600 EUR annually
Upon becoming a member you will not receive any products to sell. In looking through their official website, they say they will provide an education to help provide financial freedom. The thing is, there is no clarity on what these teaching really involve to give members the financial freedom they seek.
Compensation
MLM companies usually have a compensation plan that is complex and difficult to understand. As this company does not have any tangible product to sale, you can only get paid by recruiting others to invest in the program.
To get an understanding of how confusing their compensation plan is, you can check out the video below. The video is about 42 minutes long, but you can skip to the 31-minute mark to get into the comp plan.
They claim there are 5 ways to earn, but with no tangible products, the only way to earn will be by recruiting people into the company. The extra bonuses will depend on how much your down-line recruit, and in some cases your up-line as well. The commissions you make depends on how much you pay to get started.
Pros of Joining Freebay
There is literally nothing good I can say about joining Freebay.
Cons of Joining Freebay
- Training
- Low Success Rate
- The Only Way to Earn is By Recruiting
When it comes to training on promoting their brand, Freebay has the same problem as most multi-level marketing businesses. The problem most members face when becoming a member of these businesses is that you are lead to believe the opportunity presented is GREAT and STAND OUT from the REST and HOW GREAT it would be to INTRODUCE this to your FRIENDS and FAMILY!!!
Freebay training methods are a big part of why most people fail, but then again these kinds of businesses are not set up for a majority to succeed. If you are an owner of any business, especially nowadays with the Covid situation, you need to know how to MARKET ONLINE.
Even with some training, there is not much clarity on what this company actually has to offer. You will get some training on cryptocurrencies, but you will not receive any digital assets.
Is Freebay a Pyramid Scheme?
I hate to call a company an outright pyramid scheme, but anytime you invest money in a network marketing company without getting a product in return, then you got scammed. You will have to recruit people into Freebay to get back your investment, and those recruits will have to go through the same cycle.
Conclusion
Freebay is not an MLM company I would recommend joining. As a matter of fact, there are various crypto pyramid schemes out there and I wouldn’t recommend any of them.
Recruiting a family member or friend can ruin a relationship which is something that happens every so often when talking about these types of businesses. Chances of this happening are greater if signing up for one of the more expensive membership options.
Freebay will most definitely entice people to invest low to start but will try to convince you to invest more and more. There are plenty of opportunities to make an income online which will require less money to start and can eventually replace your day job. For a chance to make a passive income to change your life for the better and take control of your own fate instead of having to rely on recruiting…
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Now that you know what is Freebay about I wish you the Best of Luck In Your Business Endeavors.
If you have any experience with Freebay feel free to leave a comment in the section below.
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