Online Elites Globally review: is it a scam or not?
Hello reader, and welcome to Online Elites Globally review. I hope you and your family are safe. I believe that you are here because you are looking to answer a specific question, is Online Elites Globally a scam? or Is Online Elites Globally legit?
If you have visited the Online Elites Globally website, I am sure you have seen some mouthwatering deals that attract you. One of the ‘deal’ or a way of earning being offered by Online Elites Globally is money auction.
What is Online Elites Globally?
Online Elites Globally is an online site offering HYIP (High Yielding Investment Program), which is nothing but a Ponzi scheme. In any Ponzi Scheme, the company pays very high returns to its investors using the money invested by its new members. A good example of a Ponzi Scheme that has recently scammed people millions is Live Auction.
From their website, Online Elites Globally seems to be operating in three countries, Kenya, Uganda, and Tanzania. However, most of their members are based in Kenya.
Apart from the money auction, online Elites Globally seems to be offering other methods of making money such as referring, spinning, etc.
To make it easier for people who have no clue what online Elites Globally is, I will first give a brief summary of how it works and then give my views on whether it is a scam.
How does Online Elites Globally work?
You are required to pay Kshs 1500 so that you can be an active member of online Elites Globally, which is a mandatory fee.
Below I have tried to explain the various ways of earning with Online Elites Globally and their negative/positive side.
1. Money Auction
Online Elites Globally is offering very high ROI (Return on Investment). They claim to be buying and selling shares, and after a few days, the members earn huge interest. The interests are fixed, and there are no losses. According to Online Elites Globally, this is how money auction works;
The members will have to bid by buying shares and then selling them at a profit:
They will get 30% interest after three days bid. Meaning if one bid 20k they’ll have 26k after three days.
They will get 60% ROI after six days bid, which means if one bid 20k, they’ll have 32k after six days.
They will also get 70% ROI after nine days bid. That’s, if one bids 20k, they will have 34k after nine days.
These money offers are too good to be true. There is no open-investment platform that can guarantee such a high-interest rate and zero loss of money. All investment markets are affected by market risks. Why should Online Elites Globally be different?
Online Elites Globally is also offering its members a chance to refer other people and make commissions. Note that the people referred must pay the Kshs 1500 registration fee before the referrer is paid. Here is a brief explanation of how the referral program works.
Let’s say you join online Elites Globally today and you want to start referring, here is how you will earn
1stand 2nd person you refer you will earn Kshs 800 each.
From 3rd person to infinity, you will earn Kshs 1100
Indirect referrals commission will be from your 3rd downline, and you will be earning Kshs 300 per indirect (level 2) referral and Kshs 100 per level 3 indirect referral.
Spinning is another lucrative plan that online Elites Globally is offering. Spinning is not a guaranteed way of earning since it is purely based on luck, with different spinning types, such as registration spin, which is free, and the spin where you have to stake a certain amount of money just like betting. You can always gamble and lose your money, or if you are lucky, you will win.
4. Other methods
All of these methods described below, just like spinning, are minor ways of earning, and there is no way one can make a significant amount with them.
Blogs; members can write various articles and be paid depending on the number of views an article gets.
Surveys; members earn Kshs 10 per correctly answered question on the Online Elites Globally website.
Is Online Elites Globally a scam or legit?
Based on everything that I have described above and from past experiences with most Ponzi schemes, it is clear that online Elites Globally is a scam. They are offering huge interests to their members so that they can invest more money on the website.
Since they also need more members, online Elites Globally have introduced referring so that new members’ investments can always pay the old members. It is some leverage to play with their members’ minds.
Most online Elites Globally, members are using the investment to get more referrals, which is a lucrative plan that sounds too good to be true.
Online Elites Globally is not legit since their High Yielding Investment Program (HYIP) is very appealing to gullible Kenyans who want to make extra income online. They take advantage of the desperate Kenyans, just like previous platforms, including Achievers Online Globally, Rich tech traders, live auction, investor app, etc.
Also Read: How to start a Money making Blog
In conclusion, whether online Elites Globally is a scam or not, we will leave it to you. But it is not a good site to invest your money.
We are busy working by trying to create awareness among many Kenyans and other people across the world to raise questions before they decide to use a website. Each year the number of online scams increases at a very high rate, and nobody will save you until you choose to avoid them.
Leave your thoughts on Online Elites Globally in the comment section.