Is iPro Network a scam? Or is it a ground floor opportunity to make a killing both with a cryptocurrency and with a MLM money making platform thrown into the mix?
Let’s take a closer look and find out…
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Company Name: iPro Network
Owner: Armando Contreras
Price To Join: $50 to get started
My Rating: 2/10
~ iPro Network Reviews ~
What Is iPro Network?
There’s not much information to be unearthed on the founder of this platform. What we do know is that his name is Armando Contreras, and that he is a self-professed online business expert.
The very first thing you’ll notice if you check out iPro Network is the amount of hype attached to the platform. That always raises a red flag with me, when I witness a lot of hype about money and how quick you can make it, but not much else.
The iPro Network is a money matrix system that combines a MLM business model with buying into a fairly new cryptocurrency. On this platform you can earn both cash as well as digital currency.
There are a few cryptocurrency scams currently doing the rounds, but is iPro Network one of them? Or is it offering something legit?If you want a legit way to make money online – passive income – then check out what's on offer at Wealthy Affiliate.
This cryptocurrency used to be known as Pro Coin, but was recently changed to ProCurrency. It is also traded publicly on the currency markets. ProCurrency is one of the major currencies involved in iPro Network.
The iPro Network Products
There are a total of 5 products you can buy into when you join the iPro Network. The products come in the form of packages, and these include the following:
- Basic – $100
- Intermediate – $500
- Accelerated – $2000
- Advanced – $3000
- Professional – $6000
When you buy any of these packages you will be reimbursed 100% with ProCurrency. So essentially you are swapping dollars for a digital currency, but also getting some products and training thrown into the deal.
For each package in the range there is a product or more, as in the Basic package has just one product, whereas Intermediate has two. If you purchase the Professional package it contains all 5 products, which includes all the products found in the first four packages plus one extra.
If you view the image for the Professional package below, the other four packages are comprised of at least one or all these products except for the last one.
The Compensation Plan
The 5 packages mentioned above offering products in the iPro Network don’t really mean a lot in the overall scheme and intention of this platform. I’m not saying the products have no value or you won’t find them useful, but they really only exist as a reason for money to change hands, be converted into cryptocurrency, and make a profit in the MLM money matrix. That’s why they reimburse you the full cost of each package in ProCurrency.
What iPro Network is really all about is getting people to invest in the money matrix at various membership levels, hence the 5 packages for sale. These represent the different levels of membership and the buy in price. Without the products the company would be labelled an outright Ponzi scheme or naked pyramid scheme.
There are 2 main ways you can earn once you have purchased a product from the 5 options and have paid your $50 per year membership to be an affiliate of iPro Network.
- Direct Commissions
- Residual Commissions
Direct commissions involve making money when you directly recruit someone into the network. As an example, you receive a 10% commission on whatever package your new recruit purchases.
Copy how I make $1000s a month online.
Residual commissions are what you earn on those in you downline, those members that your direct recruits bring in. The MLM system works on a binary system with 2 legs to your downline. The idea is you directly recruit 2 members and those recruits bring in 2 members each and so it keeps going. The commissions you earn here vary depending on how active your downline is and which membership packages are purchased.
Even after you recruit your directs, you can keep on recruiting more people into your downline. They just won’t be considered direct recruits, so the commissions earned from them will be smaller.
There are also matching bonuses and leadership rank bonuses up for grabs.
Those interested in investing in a new cryptocurrency might be keen on this particular matrix. It’s also promoted a bit like a get rich quick scheme, so it will attract those believing they can make a quick financial killing with iPro Network.
What I Like
- Cryptocurrencies do have a lot of potential to increase in value at the moment
- Some of the products, although ridiculously priced, do have some merit
What I Don’t Like
- No one really knows who Armando Contreras is
- The buy in price for some of the levels is massively expensive
- This is actually really just a Ponzi scheme, with some token products and using cryptocurrency as the investment
- The amount of money you need to invest is extremely risky
- There is also the risk of the ProCurrency losing value, totally devaluing your initial investment amount, despite profits you might earn
- Schemes like this one can’t last, as new investor money is always required to keep them going
- There is a very good chance you’ll receive no return on your investment
How Much Does iPro Network Cost?
To become an affiliate you have to pay an annual fee of $50, plus buy at least one of the product packages to invest in the matrix. The cheapest package is $100 while the most expensive is a whopping $6000.
Is iPro Network a Scam?
In my opinion this scheme is borderline. It could make you money – or rather cryptocurrency. There are some real risks attached.
For one, it’s really just a money matrix using some digital products to legitimise the exchange of money. It won’t last because the structure is based on a Ponzi scheme and relies solely on constant recruitment to survive. These platforms are destined to fail at some stage, just by their very design. It could last a month, or could get lucky and go on for a few years, but it will collapse at some point. It’s inevitable.
Secondly, you’re swapping real cash in exchange for an unproven cryptocurrency called ProCurrency. Maybe it will become the next Bitcoin, but it could just as easily go the other way and become completely worthless. You just don’t know.
I can’t give iPro Network my recommendation. Too many unknowns involved and the matrix is doomed to fail at some point, leaving a whole bunch of investors out of pocket. Making money from a matrix is a bit like playing lotto, only the potential payoff is nowhere near as big.
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I know crpytocurrencies are all the rage at the moment with Bitcoin and Ethereum going nuts.
But not all cryptocurrencies are created equal, coupled with the get rich quick scheme feeling and the lack of info about the founder. You are right to not to give ipro network your recommendation. I reckon it sounds dubious!
Unfortunately a lot of these Ponzi schemes are ditching the use of dollars as an investment and jumping on the crypto bandwagon because of its current popularity. They make it sound like you’re actually investing in a new digital currency, when all it is, is a Ponzi scheme, trading real money for a currency that might prove to be worthless. Plus the likelihood that the scheme will grind to a half and most people will lose their money anyway.