Were you impressed with the returns of Spin-Cash.com and want to know What Is Spin Cash, is Spin Cash Legit or a Scam? SpinCash is a Peer to Peer, Cash Gifting, Ponzi/Pyramid Scheme. This means they are completely illegal everywhere on Earth due to the recurrently high volumes of people who lose money. Such schemes continuously take out money from local and often struggling economies. This leads, invariably, to higher taxes and more struggles for the average person. Such schemes have to be categorized as a SCAM and will put SpinCash into the SCAM SITES portion of my site.
Can you make money with such schemes? YES – ABSOLUTELY! But, you have to be one of the early participants to near guarantee (tier one) to get promised returns per investment. However, should you not want to gamble your life savings on something this illegal, but wish to instead, find a real and legal way to earn online, then, I do have one suggestion. Wealthy Affiliate is my #1 RECOMMENDATION to work from home and has be online since 2005. You can read my WA REVIEW >HERE< to learn more or sign up >HERE< to have a look around and learn how to make money on the Internet full time. Free Beginner Account requiring no CC. Paid Options available for those that want to earn sooner >HERE<!
The Truth on What Is Spin Cash and are they Shutting Down Soon? Work, Pay Details.
Before we begin to answer what is Spin Cash, let us try to identify the owners of this illegal site. Created 2/2/2017, and set to expire same date 2018, it seems they are soon to crumble and run with the majority of investors money! OK, unusual with scam sites, but I do see a name for it by someone called John Gabriel. No PO address listed and email missing. That is enough missing information to call this site, at least, ‘DECEPTIVE‘.
The work is simple as referring others to Spin Cash. Once you have four referred, they they to, must refer four more. Those four get four more AND THOSE FOUR get four more. This is a 4 x 4 Matrix Structure. The first level package, because this opportunity is not free to par-take in, is ₦2000. You give this to your up line (the one that referred you). Four people will give you ₦2000 each, that is obviously, ₦8000. Once you have your 4 x 4 structure in place the process is repeated until they run out of new sign ups. This is where the money is coming from. When they stopping coming then they do not have enough money in the system to pay older members. There is no actually product other than this. It is also known as a cash gifting scheme and is also illegal.
There are FOUR LEVELS to upgrade to at your choice. Level is described above. Level 2 is priced at ₦3000 and that yields you 16 referrals. These people now pay you ₦3000 each resulting in ₦1600.
Level 3 is priced for ₦5000. You are meant to receive 64 people resulting in ₦32K.
Level 4, and the most prosperous level, will buy you 256 referrals making you a grand total of ₦1,920,000!
Given this sites relatively low monthly searches, I can safely estimate, many were being scammed soon as Tier 1 was completed! SpinCash is also a MLM Scheme – incredibly – legal in 50 States in the USAl!
So to be clear, ponzi means money coming in from new members to pay old members. Pyramid, is when nearly all the cash flows upwards leaving lower tier members (people who signed up much later in the scheme) hanging out to dry with no ROI per investment. Cash Gifting is simply when people ‘DONATE’ to each other in this fashion. MLM means Multi Level Marketing when people ‘Market’ such an idea to others to get them to sign up. They sign up under a typical Matrix of 4 x 4, as is the way, with Spin Cash. MLM are similar to Pyramid Schemes.
Given the site is about to shut down, then you would be better off giving ME ₦2000, than to be wasting your time with these guys 🙂 .
SCAM RATING:- 0/100%! SOON TO CAUSE MUCH FINANCIAL DEVASTATION UPON COLLAPSE. PEER TO PEER DONATIONS ARE ILLEGAL. CASH GIFTING IS ILLEGAL. PONZI SCHEMES ARE ILLEGAL. PYRAMID SCHEMES ARE ILLEGAL. MLM’s ARE CONTROVERSIAL GIVEN SIGN UPS RUN OUT LEAVING MOST WITH NO WAY TO EVEN RECOUP INITIAL INVESTMENT. SCAM!
HAVE YOUR SAY!
As mentioned, some will have made money, and you can certainly let us know in the comment box below. For those that invested and received nothing, you definitely need to be heard. Please leave your experience below to help warn others. Have you spotted another Ponzi/Pyramid Scheme online? Let me know and I will write them up in a post to expose them. Enough has been said on What Is Spin Cash to help you decide for yourself. I look forward to all of your comments to come and would advise signing up to my site offer below. Thank you for reading my post and hope to see you again soon. Take care for now :- .
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