We all know that mobile apps are very in demand right now. Even a lending company can create their own app so that it will be more convenient for its customers to avail of their service. Just like Cloud Token, a mobile app-based that seems to be the flavor of the month for the MLM crypto niche. There is some odd buzz about Cloud Token, people wondering is Cloud Token a Scam? Find out more and discover more about Cloud Token through this transparent review.
What is Cloud Token?
Cloud Token is an MLM Company. This is also known as a Multi-Level Marketing Company. These companies have a certain set of products and recruit non-salaried affiliates who work to market and sell these products.
These affiliates also recruit new affiliates into the company’s ranks. They don’t get a fixed salary, and they have to work on retail commissions and various bonuses.
Cloud Token has a social wealth wallet and markets itself as a digital currency platform. They are a set of business-related products that I will discuss in the latter half of the article.
Even though they market their products, this company focuses more on recruiting new people. So if you are interested in becoming an affiliate for them, you will have to recruit more affiliates for the company to make money.
Cloud Token is a registered company. They are approved by the Australian Securities and Investment Commission. However, this company exists in Asia and recruits most of its affiliates from India and the United States.
Everyone is obsessed with cryptocurrency these days. Some call it the future of currency, and all recent cryptocurrency products have been extremely successful worldwide.
A few examples include Bitcoin and Litecoin. People have made millions through these cryptocurrency platforms, and Cloud Token is the newest addition to this list. They have a social wealth wallet where all cryptographic assets exist and are merged.
In addition, they have other AI technologies to facilitate their programs. I will discuss these in detail in the rest of the article.
How does Cloud Token work?
Cloud Token works like many other MLM Companies. When you join as an affiliate, you are required to advertise the company and recruit people. This company is more of a pyramid scheme because it focuses more on recruiting people than advertising and selling the company’s products.
Pyramid schemes tend to be dangerous since you can lose a lot of money that you invested in. Also, the people above you (i.e., the people higher up in the pyramid) receive more money and have a smaller chance of losing their money.
This means that in this company, it is more profitable to join early and secure a higher position in the pyramid.
Let’s take a closer look at the money you will have to invest in this company to secure your position as an affiliate.
You will have to pay a start-up fee of $500 before you join the company. This will not only secure your position as an affiliate but will also make you eligible to earn commissions.
This is all the money you need to invest in securing your position as an employee of this company. However, the money you will invest will be in digital cryptocurrency so you will invest in the company itself.
To join this company, you must download their app on the app store and create an account. After this, you must enter a referral code that will be sent to you on email. After entering the code, you will create your login pin and your payment pin.
You’re required to create your own backup by choosing around 12 same phrases in a certain order. This is a complicated procedure, but it exists to protect your money from being stolen.
What products does Cloud Token offer?
Cloud Token has a social wealth wallet and offers a type of cryptocurrency to customers. They have various platforms through which they work. Some of their features include
- An Atomic Swap option that you can use to exchange Cloud Token with other cryptocurrencies. These could include Bitcoin and Litecoin.
- A Cloud Token JARVIS AI system that will help provide additional security to your account. This will also ensure that your account stays protected at all times. The money in this trading system is managed by an investment bank for hedge funds.
- An E-Commerce option that will allow you to buy various products with the cryptocurrency you have in your wallet. These include books, clothes, jewelry, and even computer software. Online shopping will be much easier with this option.
- And most importantly, Cloud Token offers a Blockchain 3.0 technology. It has a smart mobile wallet called Cloud Token 4.0 Smart Mobile Wallet. This wallet will also assist you in buying stuff because it supports a range of cryptocurrencies. These include Bitcoin, Ethereum, and Litecoin.
Despite this, the main way you can make money through this MLM is to convince not just the company’s products but also convince other people to join the company as affiliates. The more affiliates you recruit, the more money you make.
How much can you make with Cloud Token?
At Cloud Token, you will only be eligible for commissions after you have invested $500. In addition to this, you will only start getting earning money when the people you have recruited invest $500 in their wallets.
The people you recruit will come under you in the pyramid scheme. This company has a uni-level compensation plan. Any person recruited by your affiliate also become your affiliate. This can go until you unlock all 21 levels of affiliate commissions.
The levels you unlock, depending on the members you recruit. The greatest level is the 21st one, and you need to have 16 members under you to unlock that level.
You can also earn money through the earnings of your members. These are the affiliates who come under you. This means that the amount of money you will earn depends on the rank you have.
You get a 100% bonus on all level 1 member who goes down to 50% on level 2 members and then down to as low as 5% on 21 team members.
Your leadership ranks will also get you bonuses. You begin at a C0 rank, but you can go up to a C5. To achieve a C1 you must have a teaching volume of around $200,000. For this, you will earn a bonus of 5%.
To achieve a C2 rank, you must have 3 affiliates under you in 3 legs that elevated to C1. This procedure is similar across the board. This means that if you want to climb up to any rank, you must have 3 team members in 3 legs who are also promoted to a higher rank.
What do I like about Cloud Token?
- It is a good way to make money and earn bonuses and commissions.
- If you join earlier, you will have a higher chance of making more money.
- If you’re good at marketing, you won’t have a hard time convincing people to join as affiliates.
What I don’t like about Cloud Token
- They have an expensive start-up fee. This isn’t right because MLM’s are risky and you could lose all your money together.
- They don’t have a specific address, and they only operate online. This makes it difficult to track them and hold them accountable if something wrong happens.
- It is unclear who owns and manages the company. This makes it difficult to hold one person or the company responsible when something unfortunate happens.
- And lastly, this is a pyramid scheme that makes it unreliable and very risky. This means that you get paid according to how early you joined and not on your hard work.
Is Cloud Token a scam?
If you are still wondering, Is Cloud Token a Scam, well as far as I can tell yes it is. Unfortunately, it is an unreliable pyramid scheme with a huge chance of loss.
Why is Cloud Token a scam?
There are a couple of reasons why this company is a scam. There is a clear lack of accountability. No one knows who the managers are, and no one knows where the company is based.
Despite being registered with Australia, this company has offices in countries like Kuala Lumpur and then recruits from countries like India.
All these reasons make this company a risky investment, and I will not encourage you to put your time and money into this project.
If you are looking for a legitimate way to make money online, I suggest you spend a couple of minutes and read my detailed wealthy affiliate review. WA is the home of hundreds of successful online entrepreneurs where you can learn all about Online and Affiliate Marketing. Just a heads up, if you are looking for a quick money fix or a get paid overnight don’t bother, WA it’s not for you!