Hey, friend, Jason Foster here with my FULL Modern Money Team Review!
Modern Money Team business has been generating a lot of hype recently, especially on social media.
Perhaps you have met one of their affiliates pitching to people about the business opportunity on social media.
And you are on this site because you want to know if Modern Money Team is a legit business or a scam. Right?
Well, you are in the right place.
Before you spend your hard earned money to join any Multi Level Marketing business, it is important you do your research about its background.
When you check online, you will find so many reviews about this company saying it is a scam.
Unfortunately, most of these Modern Money Team reviews are biased.
The good news is that you don’t have to stress about doing the research because I have done all the hard work for you.
This Modern Money Team review will look at the company’s products, compensation plan and owners so that you can make a wise decision on whether to join their business opportunity or not.
So let’s get started on our unbiased Modern Money Team review…
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Modern Money Team Review – What exactly is this company?
After I checked their website, I was disappointed to find out that this company has no information at all regarding who owns the company or where it is located.
These are the kind of information most people look out for before joining any MLM company.
The fact that Modern Money Team does not provide these crucial details on their website is a big red flag.
However, after further research, I was able to come across details regarding their website domain name.
Their website domain name is “modernmoneyteam.com” and was registered privately on May 25, 2017.
After snooping around the activities of the company, I realized affiliates of Modern Money Team name one Mr. Dan Putnam as the company’s CEO.
However, it’s kind of fishy that this piece of information is not available on Modern Money Team website.
If you have been involved with Multi Level Marketing business for a while now, you would realize that Modern Money Team is not Mr. Dan Putnam’s first gig in the MLM business world.
Mr. Putnam was first spotted in 2012 as the owner of an MLM company called EPX Body.
Later, he started another company called One80 in 2014.
While EPX Body was a legit MLM business offering retail products to customers, One80 was a complete scam which saw it quickly collapse one year after its launch.
Mr. Putnam then started a sponsorship business scam called Let Us Close, which lasted just a few months.
Later, he started another recruitment business scheme called The Elite Networker.
Unsurprisingly, this company also collapsed soon after its launch.
In mid 2016, Mr. Putnam tried to revive One80 where he operated the company as an adcredit business.
According to Alexa rankings, the new One80 experienced a sharp decline in interest which led to its collapse in January 2017.
It’s almost certain that the relaunch failure of One80 is what led to the launch of the Modern Money Team.
Modern Money Team Review – What are the products?
This company does not have any retail goods or services that is marketed to customers.
Therefore, there is no retail sales activity going on at Modern Money Team.
Affiliates who join this company have got the Modern Money Team membership, which they can market to others.
However, the company states a “customer” on their compensation plan.
There is a marketing video on the Modern Money Team website, which suggests the company will in future offer its affiliates and customers’ investment in mining pool, in addition to profits that will be generated through trading of cryptocurrency.
In the video, the focus is on affiliates paying $20 and finding two new affiliates who will do the same.
However, the promotional video does not mention anything regarding retail products or services that is offered by Modern Money Team.
Modern Money Team Review – The compensation plan
Affiliates who join this company can make money by investing between $50 and $3,000 or more, so that they can have access to passive ROI.
When you make an investment of $3,000 it is known as renting a “mining machine” and if you invest $50 or $300 it is known as a “share” of the mining machine, according to Modern Money Team website.
If you decide to invest $3,000, the company states that you will earn 75% value that the mining machine generates over its entire life.
When you make a $50 or $300 investment, it would earn a 1% or 10% mining revenue respectively.
This company has six affiliate ranks on their compensation plan. In addition to the qualification criteria, the affiliate ranks include the following:
· Promoter – you need to invest money in a mining machine and at the minimum convince a personally sponsored affiliate or customer to do the same thing.
· Qualified Promoter – you will need to maintain a mining machine or an investment in share and at the minimum convince two personally sponsored affiliates or customers to do the same thing (where each affiliate goes to both sides of the binary team).
· Manager – you need to maintain a mining machine or an investment in share and make at least $1,000 every week on the weaker binary volume side.
· Regional Manager – you need to maintain a mining machine or an investment in share and make at least $2,500 in the weaker binary volume side.
· Vice President – you need to maintain a mining machine or an investment in share and make at least $5,000 in the weaker binary volume side.
· Global Vice President – you need to maintain a mining machine or an investment in share and make at least $7500 in the weaker binary volume side.
Affiliates get to earn a direct commission, which is paid out based on mining machine and shares that is purchased.
A $3,000 investment in mining machine earns a $200 commission, a $300 investment in share earns a commission of $200, while a $50 investment in share earns a commission of $3.33.
Affiliates who join Modern Money Team are placed at the top of a binary team with left and right side.
Where the first level has two positions, the second level comprises of four positions after splitting the first two positions into two.
Other levels are created the same way so that the new level has two times the number of positions compared to the preceding level.
Positions can be filled either directly or indirectly sponsoring new affiliates. Modern Money Team adds the points that are generated every week and affiliates get to earn a commission based on their investment.
Modern Money Team Review– The joining fee
Modern Money Team membership is free, but affiliates will require to make a minimum investment of $50 to earn money.
You can earn more money by making an investment of $300 or $3,000. It’s not quite clear, but it looks like affiliates are required to pay a fee of $20 every month to stay active.
Modern Money Team Review – The Verdict
After reading this review, you might be wondering whether this company is legit or a scam.
This company is dealing with cryptocurrency which means it requires to be registered with the SEC.
However, there is no information whatsoever that shows Modern Money Team is registered with the SEC.
This is a big red flag because it could end up being closed down for violating the United States Security Exchange Act.
To avoid being disappointed in the future, I would urge you to avoid this company at all cost.
I hope that you found my Modern Money Team Review helpful and if you have any questions or comments please leave them below.
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