LendConnect Review – Legit Company or Just Another Scam
Welcome to my LendConnect Review!
Someone asked me to do a review on this company as it’s still new and there isn’t a lot of information available on it out there …
Maybe someone might have approached you in person or maybe it was over social media, and now you want to know more too!
Some questions might come to your mind, maybe even some like these…
- Can newcomers do this if you’re new to the MLM world?
- With this the company reach the profit growth you want?
- And is this business legitimate?
Good news! I am going to put any rumors you might have heard to rest!
And in my review on LendConnect, I’ll go over the company’s history, their products and their compensation plan, so you can make the right decision about joining in or not.
Let’s get right to it!!
LendConnect Review – The Company
When you visit the company’s website, you cannot find any available info on the current CEO of the company or who is running the business.
Then, I dug around a bit and found out that the LendConnect website domain was registered privately as “lendconnect.io” on the 14th of November in 2017.
LendConnect Reviews – The Products
LendConnect doesn’t have any services or products for affiliates to sell or purchase.
But anyone wanting to sign up as an affiliate with LendConnect can market the company affiliate membership.
The LendConnect Compensation Plan
Affiliates who want to participate in the company compensation plan must sign up and invest into the company.
Company affiliates are required to buy into pre-generated LCT points at a rate of purchase from 60¢ to $1.10 per LCT point.
Affiliates then need to return their investment points back to the company as a loan with the agreement of a promoted ROI.
- Invest $100 to $1000 and receive a monthly ROI of up to 155% for 120 days
- Invest $1001 to $5000 and receive a monthly ROI of up to 158.1% for 100 days
- Invest $5001 to $15,000 and receive a monthly ROI of up to 161.2% for 80 days
- Invest $15,001 to $100,000 and receive a monthly ROI of up to 164.3% for 60 days
The company uses a unilevel compensation model to pay out referral commissions to its affiliates.
The unilevel compensation model puts an affiliate at the top of a unilevel team that places any personally sponsored affiliate on level 1 immediately beneath the original affiliate.
When a level 1 affiliate sponsors new affiliates, they are then put onto level 2 of the original affiliate’s unilevel team.
When a level 2 affiliate sponsors new affiliates, they are then placed onto level 3, and levels continue to be created like this down a hypothetical never ending amount of levels.
Payable unilevel levels are capped at Level 4, where commissions that are paid out will be done so as a percentage of capital (funds) invested among those 4 levels:
- Level 1 (personally sponsored affiliates) – 8%
- Level 2 – 4%
- Level 3 – 2%
- Level 4 – 1%
Cost To Join LendConnect
The cost to join LendConnect as an affiliate is free, but affiliates who choose the free membership can only earn commissions on referrals.
If affiliates want to take full advantage of the LendConnect MLM income opportunity, they must invest in LCT points at a minimum of $100.
Verdict of LendConnect
My final say about this company is that I do not think that it is 100% legit…
The company makes claims that they generate their external ROI revenue through strategic trading with a “trading bot” …
For me these are tough claims to hear from a company because they immediately make me think twice.
Here is what they said, their strategies are “capable of influencing prices of the coins we choose” and “We have tested our bot and made even higher percentages than we could ever imagine.”
There is no proof that any trading took place and if the trading bot genereated percentages that were out of this world, then why would they be looking for random investors online.
Also, it makes it hard to have faith in this company when the administrators are not listed.
And the excuse to remain anonymous is that they are self-proclaimed tax evaders.
So, this company’s real business plan is to sell you worthless points for real money, then have you sponsor new affiliates to invest, then take the affiliates new investment to pay the already existing affiliate their owed ROI.
In the end, when new affiliate sponsorship slows or stops, the company will shut it doors and run away with the money they have before paying out what is owed.
My advice? Be careful with this company as you are likely to lose your investment…
I hope you enjoyed my LendConnect review and if you have any questions, please leave them in the comments below…
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