Is Futurenet a scam?
Just over a decade into the invention of virtual currencies, their credibility is still as contentious as ever. This is because as spectacular as the rise of virtual currencies was, the blight of fraudulent projects still looms large over the industry.
This problem is so apparent that it has been a clarion call for regulation around the world. Just like classic pyramid schemes in the real world, there exist a number of projects in cryptosphere blatantly out to defraud investors. The remarkable promise of some online advertising platforms can at times be too good to be true. It goes without saying that in ordinary human discourse we sometimes fall for such promises. Everyone wants to make the next big killing and you wouldn’t believe what’s out there.
Consequently, the task of ascertaining how legitimate burgeoning platforms are has become supremely important. Certain cryptocurrencies can have all the markings of legitimacy yet in the long run prove faulty. Let’s review one of these; Futurenet to ascertain whether it is a scam?
Essentially, FutureNet has the likeness of a social media network platform such as Facebook. In fact, the platform touts itself as the ‘social media for businesses.’ The hub can be utilized by businesses in the crucial role of promoting their digital information online.
For the ordinary user, the tool of trade is apparently watching ads and other social activities to have an opportunity to start earning. This will result in accrued earnings over a few weeks depending on your range of activity. It is indeed possible to earn but equally important is that there are complaints online about the consistency of withdrawals from the site.
This connected marketplace requires users to advertise certain products on their social platform and recruit members. These products are not tangible but rather the opportunity to advertise.
The stated mission is to:
“develop the first social platform whose innovative communications instruments and products offer people globally the possibility to use their online potential optimally.”
Some Red flags
For one, the fact that the site is based in Marshall Islands is something that raises eyebrows. While it may turn out to be just a tax avoidance strategy for instance, it does not help credibility wise. Conversely, the choice of location could be a ploy to escape keen regulation in more established markets.
Even though the network is free to join, there are certain payments that come later. These are in the form of levels you qualify for along the way. The basic member package is $10 while the highest Royal package is an eye-popping $1,685. This is screams Ponzi scheme since there is a cyclic flow of money with the payments sustaining those who work on the platform. They in turn recruit others with the promise of earnings which they can prove.
The recruitment drive is text book Ponzi stuff. After all, FutureNet can continue to be sustainable for a considerable amount of time with this model. In short, new users continually fuel the system.
With a promise of advertising money, it is easy to attract many social media users. Interestingly, you can’t access even the slightest information on their site without signing up for an account. This lack of transparency is not consistent with ethical company practice.
Is Futurenet a scam?
Yes, I am positive that the platform is a scam. This is an opinion based on the layout and practices of FutureNet. It is difficult to make a bold claim about how long such a platform can last because it seems solid for now.
The referral system makes FutureNet have all the fuel it needs to sustain itself for some time. This means that the exploitative targeting referral system which easily lures unsuspecting individuals is the real problem.
Currently it is possible to make a profit with them, even at times higher than other ad platforms. However, as with many fraudulent schemes majority of the members are left high and dry when the plug is pulled. This can bring along massive losses and zero ROI. Therefore it is not advisable to make investments on FutureNet. Unless you have money to spare or are an avid risk-taker, you have no business there. Nonetheless, it will be interesting to see how long the site can run.
So, do you have an alternative?
Well, like everything, there are choices and the open nature of blockchain is a gift. In fact, a look around and you will be astounded by the number of trusted, token rewarding options on the table. We are going to list them depending on their trust levels from open ratings networks.
Even so, here are obvious Futurenet alternatives;
Steemit: How do you think of a social media platform on top of a blockchain? If you already know the benefits, then that what Steemit offers to their supporters. Unlike traditional networks like Reddit or Facebook for example, you actually get to benefit from the free content you generate.
To incentivize participation, a native cryptocurrency, Steem is used as a reward for active users churning quality content to their readers. Once you have Steem, the unit of account and the native currency in Steemit, you can redeem it for Bitcoin, Steem Power or Steem dollars. Each Steem Dollar is equivalent to a USD and those willing to stake the coin earn an annual 10 percent interest.
Friendz: Claiming to be a working product with €1.2 million in revenue and attracting over 200k users, there is some element of legitimacy with the marketing platform. It has been in operation for three years now and during that time they have offices in Spain, Ital, and Switzerland. Friendz say it is a “digital marketing revolution off the blockchain” for good reasons.
It is differentiated in that it takes advantage of the raw power of social media and word of mouth to revolutionize advertising. By rewarding 100 Friendz coin for every conversion who participate in their digital market campaign, Friendz is simply innovating if not redefining friendship and marketing.
Like Coin: the intention of this platform’s creator is to give more meaning to that “like” button. Through Like Coin, authors of quality content are rewarded for every like they get from You Tube.
Using a proof of popularity as consensus, a prolific and popular user will get more rewards depending on the number of likes they receive. This way, users can easily monetize their content and receive more rewards without adding disruptive ads in their videos.
To cap it up,
At the end, it will be all about your due diligence. Always settle for a viable option promising realistic rewards to avoid scams. The above platforms are rewarding and vetted meaning the community finds them worthy of trial.