Modern Money Team, Scam or Legit? What You Should Know
Modern Money Team claims to be a new program that provides training in cryptocurrency mining, trading, as well as network marketing. But is this place legit or is Modern Money Team a scam just like the many other similar programs out there?
With the boom of cryptocurrency came a boom of online scams exploiting this opportunity to scam people. You can never be too sure of places like this and that is why I decided to do a little investigation into Modern Money Team and see what I find. In this short review I’ll be going over a few things that you definitely need to know about this place.
Modern Money Team Review
- Website: modernmoneyteam.com
- Founder: Unknown
- Cost: $20/month
- Recommended?: Not really; more on this
Modern Money Team is basically an educational program that provides training on cryptocurrency, crowd funding, and network marketing, all of which are “modern money” you could say. They also have a cryptocurrency mining operation that you get to partake in and make money off of when you join as a member, but this comes with an additional cost.
On top of the training and their mining operation that they provide they also have a mlm (multi-level marketing) compensation structure in place where you can get paid to go out and recruit other members into this program.
There is a lot of hype surrounding this program and this is largely due to other members going out and promoting it like crazy just to make some money off of you. Just because there are a lot of people promoting it definitely does not mean that it is a good idea to get into.
In order to see if its really a good opportunity I had to take a closer look.
This place has 2 things that you could consider “products” that are available for purchase. They have the educational program and they have their mining operation that you can purchase a share of.
The educational program is just a bundle of information that teaches you about cryptocurrency, crowd funding, network marketing. Its all about helping you stay on top of the “modern money” that is out there and teaches you how you can take advantage of it.
Education on cryptocurrency is the biggest focus of it and you will learn about trading and mining cryptocurrencies. Some of the training it contains on cryptocurrency includes things like…
- what to look for
- when to purchase
- when to trade
The mining operation that they are involved in is something that you get a share of when you become a member. When you become a member you basically get to virtually own some of their mining hardware, and you will receive profits from ownership of this each month.
To become a member it costs $20/month. When you buy this membership you get the educational program and access to the referral program.
If you want to earn money from their mining operation you will have to purchase at least 10% of one of their GPU machines, which will cost you $300.
The MLM Part of It
When you become a member for $20/mo, you also get access to their compensation program where you can go out and recruit other members to join in and make money off of them.
The comp plan is what you call a binary compensation plan, meaning it has 2 sides, a left and a right.
Below you and everyone else there are 2 positions open. Your goal is to recruit 2 people into the program, then get those 2 people to go out and recruit 2 more. This goes on and on and branches out larger and larger the further it goes down.
Basically how this binary comp structure works is you will get paid commissions from the smaller side of your binary tree. Bits and pieces of the money made by your recruits (1st level), their recruits (2nd level), and so on will trickle up the pyramid to you.
You will get paid 20% commissions on from the money made on the smaller side.
In addition to this you will also be able to earn what they call a Sponsoring Matching Bonus. With this bonus you will earn a 50% check match for all the money that your personal sponsors make (aka the people you personally recruited).
And….. you can also earn a 10% Generation Matching Bonus up to 5 generations deep. But in order to be able to get this bonus you have to be at the rank of Manager or higher… which brings me to my next point.
There are 6 different ranks (not counting customers) and basically what you need to do to climb the ranks is recruit more people. The higher you go the more of the comp plan you unlock and the more money you can make.
The Shady Side of Modern Money Team
Modern Money Team isn’t all that transparent and honestly this worries me.
The sales video that I watched for MMT bashed and discredited other cryptocurrency scams for not being transparent with what they do with your money but then they go and do the same darn thing.
You don’t know what happens with the money you pay. Some of it goes towards the education that they provide you, but what about the rest? They tell you that they are investing it in mining hardware to mine cryptocurrency but they provide no good proof of this actually happening.
On top of this they really push members to go out and recruit new members into the program and to make money this way. This is very common of cryptocurrency investment scams. They make you believe that they are investing your money in cryptocurrency but really they are just a big pyramid scheme and the money that new recruits pay to become members gets passed up to members higher up on the pyramid.
Final Thoughts & What I Recommend
For the simple fact that Modern Money Team doesn’t give you a whole lot of information I can’t recommend that you join in. I have seen too many scams out there that are very similar, some recent ones being BitClub Network and USI Tech. So is this the real deal? Do they actually have a big mining operation going where you can earn money legitimately? Or is this nothing more than a pyramid scheme where all the money comes from new members buying in??
The answer is I just don’t know. There isn’t enough information out there to give a concrete answer on this. And for this reason I am personally going to pass on this opportunity and I recommend you do the same unless more information surfaces that proves this as legitimate.
As an alternative and a more legitimate way to making money online, one thing that I will recommend to you is to take a look at how I make money online.
I make a living working for myself online, which I think is a pretty awesome job. You can learn more about it by clicking the link below that will take you to a post I wrote. In this post I explain what it is that I do, how it all works, and how others can do the same.
Comments, questions, concerns??? Leave them below in the comment section and I’ll get back to you soon 🙂