Welcome to my Yitong Platform review!
There has been some buzz in Kenya about this platform. I decided to take a closer look to see what it is all about.
Chances are someone approached you with the Yitong Platform opportunity, and now you landed here to find out if it’s a big scam or legit.
The good news is I will walk you through everything about Yitong and finally give my opinion on whether it’s a real opportunity or a waste of time.
Just pay close attention and read this Yitong Platform review to the end.
Yitong Platform review: What is it?
Yitong is an online platform claiming to be offering earning opportunities to all its registered members. It is still a new site, but it has been trending recently.
The nature of how the Yitong operates can be compared to that of the PB Power app, one of the popular Ponzi schemes, or even Amazon Web Worker.
Although it won’t cost you anything to join Yitong Kenya, to start earning, you must deposit a particular amount depending on the features you’re interested in.
How does it work?
Like other platforms, deposits are a requirement to earn with Yitong. They are in the form of Recharge classified into three levels. Each recharge level has a range of amount you can deposit and the rate of returns as described below;
V1 Recharge Level
It’s the cheapest level you can subscribe to as a Yitong member. The amount that you can recharge ranges between KES 50 to 8000. The rate of return is also not fixed can be between 1% and 2.5%.
The maturity date for the investment can be set between 1 and 3 days. For instance, recharging with Ksh 5,000 can give you an interest between KES 50 and Ksh 250. That’s not so much as you might have thought compared to other HYIP companies.
V2 Recharge Level
At this level, you can recharge between Kshs 8,000 and 100,000. It is higher than the V1 level, but the return rates range between 1% and 5%.
The maturity period is also high, which ranges between 1 and 12 days. Generally, if you recharge with Ksh 60,000, you can earn interest between Kes 600 and 3,000 depending on the period selected.
V3 Recharge Level
It’s the highest level you can invest in, with a recharge fee between 100k and 10M. The amount is relatively high considering that Yitong Platform isn’t regulated by any financial institutions like Capital Market Authority Kenya.
The return rates range between 1% and 7% for an investment period of 1 and 30 days. Honestly, that’s a high-risk investment given the high principal amount. I wouldn’t recommend it to anyone.
Related: CIC Money Market fund review (legit)
Is it worth investing in any of the Recharge levels?
Well, it mainly depends on your financial status.
Before investing, ask yourself if you’re ready to lose the principal. If yes, then go ahead and recharge your Yitong account.
It’s common for people already using the platform to convince you that they’re indeed legit. But this is mainly due to the generous referral commission your upline gets once you join.
Here are some red flags that you address before depositing any amount on Yitong Platform in Kenya;
- The website design is similar to some previous Pyramidal schemes such as Kestree. It’s all about the registration and login page without any description of what the website entails.
- Although the business model of the Yitong platform is a little bit realistic, there are still some features that make it look like a Ponzi Scheme. For example, the recharge packages were common with Huluworks.
- The withdrawal process is complicated compared to that of depositing money to the Yitong Platform account. Why make it hard to receive your earnings but easy topping up the account?
There are many other reasons why it might not be safe to invest on the site, but for the risk-takers, there are some features you may like explained later in this post.
Read also: How to make money with Opera News Hub in Kenya
Referring Program
It is majorly for networkers; the referral program enables you to invite other people to join Yitong Platform. Once they register, you get to earn commissions.
There isn’t much information on how much bonus you receive per invitee, but we know you can earn up to the 3rd level.
As usual, free referrals will earn you a few pennies or sometimes nothing. When they deposit and transact on the platform, you might get something worth it.
It’s the same strategy that ensures platforms like Yitong Kenya generate enough revenue to sustain their model. Lack of products or services being offered leads to such sites being called a Pyramidal scheme.
If you must promote the site, at least be sure it’s paying and reveal to your potential referrals the risk involved.
You should be ready to be blamed if it collapses, primarily when you refer friends and family. So, let them know the risk first. Alternatively you can try some other ways like paid market research surveys using legit sites like Surveytime which pays instantly.
The Trading Feature
Once you log into your Yitong account, the first thing on the home page is the trading indices. You can see trading pairs, opening prices, and the potential losses or profits upon closing.
If you’ve traded in the Nairobi Stock Exchange (NSE) with companies like AIB or Dyer and Blair Investment Bank, you understand how stocks work and how you can trade the stocks. It’s the same with Yitong Platform, the only difference being that there aren’t many regulations, and the security of the funds isn’t guaranteed.
Yitong entirely holds control of the stock indices. There are high chances of losing no matter the market prices. I tried transacting with the Ksh 50 that was given after signing up, resulting in a loss.
I would like to state that the presence of the trading feature at least increases the trust of the platform. They should just reveal the percentage of losses traders should get. This is because some of the amounts involved in Recharge V3 are equal to or more than the highest CFDs in major trading accounts.
Is Yitong worth joining?
Since it’s a free platform, there isn’t much to lose. At least not until you recharge your account. However, if you don’t feel safe sharing your data online, you shouldn’t sign up.
Some of the questions you should ask before hitting the registration button include:
- Where and who can I report in case Yitong collapses with my funds?
- Where are they getting the interest to pay people daily?
- Can I afford to lose my principal amount without any significant implication on my financial status?
- Is this indeed the best online jobs that pay via Mpesa or just another get-rich-quick scheme?
If you’re satisfied with your answers, you can join and take the risk to invest. It might work for you. We don’t recommend it to our readers, but it’s just our opinion which may also be flawed.
Final Thoughts
Based on the information above, it’s okay to be skeptical about joining the Yitong Platform. Given its many flaws and similarities with past scammers, its legitimacy is in question, which reduces its trustworthiness. Given that your money is involved, you should also analyze before coming to a conclusion.
This Yitong Platform review was meant to give you first-hand details for educational purposes. It’s usually our opinion but based on our previous reviews, we are rarely wrong.
Below is an overview of the Yitong Platform from a random user. Use the video to further your understanding of the site.
You can find our recommended ways to work from home and make extra income.