Curious if Freebay is a brand new MLM opportunity? Or a rehash of an old program that’s tainted with labels like ‘pyramid scheme’?
I know the promises of high commission and bonuses is are tempting. But bear with me and read every word of review.
You may find insights that help you to make your decision on whether Freebay is a lifetime opportunity or one that you’ll want to avoid.
What Is Freebay?
- Name: Freebay
- CEO : Jurgen Pulvermuller
- Website: freebay.ch
- Cost: €0 to join
- Rating: 1/10
Freebay is a Swiss-based MLM opportunity that launched in June 2020. It is purportedly led by Jurgen Pulvermuller as the CEO of the company. The name Harald Seiz is also mentioned alongside Freebay.
What both individuals have in common is their prior involvement with Karatbar. Karatbar is a popular MLM program that deals with gold investment.
Regulatory bodies in the Netherlands, Canada, and Namibia have warned investors to stay away from Karatbar. The Namibia regulator has labeled Karatbar as a pyramid scheme in 2019.
So, no surprise here as Freebay is a reboot of Karatbar under a different name. Here’s a comment on how Karatbar member is shifting to Freebay.
What Does Freebay Offer?
While Karatbar deals primarily in gold, Freebay offers Freebay Academy as its main attraction. Freebay positions itself as ‘global leader’ in affiliate marketing and boasts ‘vast array of innovative products’ across the world.
A check on its website does not reveal any product, except a brief description of LifeCard, an ATM-like card offered under its packages.
Still, it’s easy to find out what Freebay is offering when you check out its affiliate compensation video.
Here’s the detail for its packages and what’s offered.
- EVO Academy – €50 / month (€480 per year)
- Freebay Academy
- EVO Expert – €190 / month (€1,920 per year)
- Freebay Academy + Trading Academy
- EVO Life – €480 / month (€4,600 per year)
- Freebay Academy + Trading Academy + LifeCard
The LifeCard can be exchanged into an investment for V999 token, in which the member will receive a 0.02% of fees from investments done through the company.
You can only purchase any of these packages after creating an account with Freebay. At this moment, you’ll need a referrer in order to join Freebay.
By purchasing one of its packages, you’ll get access to Freebay Academy, which is a series of video training on generic subjects.
Getting an account at Freebay also makes you qualify for its MLM program, which is the real deal of what it’s all about.
What Does It Cost To Join Freebay?
You can join Freebay for free and become an affiliate. However, your earning is limited until you upgrade your rank by purchasing the packages.
A non-paying member is only entitled to a 7% direct commission. He/she cannot enjoy residual commission, team bonuses, and other perks.
How Do You Earn With Freebay?
Freebay operates with a unilevel MLM structure and offers a few types of compensation.
Direct Sales Commission
Depending on ranks, affiliate members can earn by the following rate in direct sales commission:
- Level 1 – One Star Saphire: 7%
- Level 2 – Two Star Saphire: 15%
- Level 3 – Three Star Saphire: 21%
- Level 4 – One Star Emerald: 23%
- Level 5 – Two Star Emerald: 25%
- Level 6 – Three Star Emerald: 26%
- Level 7 – One Star Ruby: 27%
- Level 8 – TwoStar Ruby: 28%
- Level 9 – Three Star Ruby: 29%
- Level 10 – One Star Diamond: 30%
- Level 11 – TwoStar Diamond: 31%
- Level 12 – Three Star Diamond: 32%
The differential commission is paid by subtracting the commission rate of a member by the (lower) rate of his/her downline.
If you’re on a 30% commission, and your downline on the 21% rank made a sale, you’ll automatically earn the difference, which is 9%.
Members who rank between Two Star Saphire (Level 2) and One Star Emerald (Level 4) enjoy a sponsor bonus for the sales made by their recruits.
Here’s the rate.
- Two Star Saphire: 5%
- Three Star Saphire: 7%
- One Star Emerald: 10%
Freebay offers a generation bonus, which falls between 1% to 3% for members on level 7 and above.
By completing a cycle of 25 units on one side and 50 units on another side of the leg, a member earned a team bonus. Up to 180,000 pairs can be made a week, which qualifies for the following payout:
- 1-10 pairs : €25
- 11-25 pairs : €20
- 26-50 pairs :€18
- 51-100 pairs :€17
- 101-150 pairs :€16
- 151-200 pairs : €15
- 207-700 pairs : €14
- 701-2,100 pairs : €13
- 2,101-4,500 pairs : €12
- 4,501-10,000 pairs : €11
- 10,001-30,000 pairs : €10
- 30,001-80,000 pairs : €8
- 80,001-180,000 pairs : €5
What I Like About Freebay?
1. It’s free to join
You don’t have to pay anything to join and start promoting Freebay. But I’m not sure if it’s a good thing because there aren’t any real products to promote.
Things I Dislike?
1. Lack transparency
You get at best, very vague information on what Freebay is all about on its website. There were no hints on who’s behind the company until you dig deeper into the web.
MLM programs that do not disclose the management team are a cause of concern. If I were to place €480 with an MLM company, I’ll need to at least know who’s calling the shots.
2. Stakeholders with a shady reputation
Both Jurgen Pulvermuller and Harald Seiz were involved with KaratBar, a failed Ponzi scheme. Affiliate members promoting Karatbar was fined by the Canadian government in 2016.
Freebay is a desperate attempt to reboot Karatbar with a clean slate. Unfortunately, it isn’t as easy as the past always comes back to haunts the owners.
Here’s a member who’s apparently not happy with the program.
3. No Real Products/Services
Freebay is a mess in terms of product offering, or lack of one.
Who in their right mind would pay €480 for 12-month access to generic training videos that are available online.
It is a feeble attempt to appear legit, as the FTC states that an MLM program without a real product is a pyramid scheme.
Is Freebay A Scam?
Freebay is a scam within a scam. Its education platform is just for show, where the real deal is increasing revenue purely by recruitment.
When new members pay for the packages, the earning is passed upwards to the upline. This is typical for a Ponzi scheme where the entire program is an unsustainable money game.
Hidden by the recruitment pyramid is the V999 token. It is by itself another scam, where promises like the token are backed by gold is used to generate fake demands.
It is very likely that V999 will suffer the same fate as KaratGold Coin, which plummeted after the scam was exposed.
Regardless of whether you succeeded in marketing and earn with Freebay now, it doesn’t change the fact that it is a Ponzi scheme.
Eventually, most affiliates who invested will lose money when recruitment grinds to a halt. History will always repeat itself.
Should You Make Money With Freebay?
Should you? It depends on your ethical values and whether you’re willing to take the risk of losing everything in the end.
For me, I prefer building sustainable online income via legitimate means. I don’t have to worry when is a particular program going busts.
Also, I don’t need to put up with recruitment, which is the only way to make serious money, whether in a legit or phony MLM program.
If you’re curious about what got me started to building a few streams of online passive income, check out this legit, non-MLM program.
Hey, it’s Kenny here. I’m a single dad, freelance writer, an affiliate marketer. I have been making a living online since 2016, after quitting a 10-years engineering profession. When I’m not on the laptop, I’ll be in the kitchen experimenting with new cuisines.