Some say it is about win or lose, that has been the story of many who have participated in Ponzi schemes like the newly introduced mutual xchange.
According to the proponents of mutual xchange platform calls it a journey to financial freedom. Expectedly there are promises of best practices, good support and leverage system which tends not to be the case in its real sense.
The platform in nothing different from other Ponzi sites that have come, struggling and gone.
Some of the features on mutual exchange website can blow an intending participant away, especially those who are new to Ponzi schemes. In terms of return on investment (ROI), they promise about 40% in 15 days (NAIRA), 50% in 15 days (Bitcoin). They require a 20% down payment which they claim is to ascertain if the participant is really interested.
Here is a tip of how mutual xchange claims to help sanitize its system, …you have will be matched instantly to make a payment of exactly 20% of your PH to another member, let’s say you declared the willingness to help someone with N50,000, you will be matched to pay N10,000 out of the N50K which is exactly 20% under 24 hours to another participant, if you fail to do so your account will be blocked.
The Ponzi system also promises a 10% referral bonus – you get 10% bonus from your direct downline PH
There is nothing spectacular about Mutual xchange. It is the same of the same! The verification of phone numbers of its participants is nothing substantial either. It claims to confirm the contact of participants to curtails the high rate of multiple and inactive accounts recorded in other platforms.
Administrators of mutual xchange also claim to have a dedicated Support; You are not alone. We have an active support team which comprises of experienced staff who are prompt in responding to your issues and complaints..
Really, what is wrong with investing in Ponzi schemes? Everything! It is simply a system you cannot trust owing to the fact that they have no actual business model. Many of the guys who have cashed-in on other peoples money in the previous schemes are the ones who are creating new systems. It is simply a cycle that breaks once the system is starved of members, which will happen sooner or later. Plus, authorities in Nigeria do not support investments in Ponzi scheme and have issues stern warnings against such ventures.