Today we will be reviewing a company known as FastBNB. Is this company the real deal? Find out in this FastBNB review.
If you’re searching for a passive daily return on your investment, FastBNB might be the right fit. After all, the company promises you a “great opportunity” to make some money in your free time.
With that stated, there are numerous programs out there that promise similar things, but many of them have failed to deliver, resulting in many individuals losing money. In typical MLM fashion, most of the members fail.
Today, I’m going to go over the basics of what FastBNB is, how it works, what they have to offer, and whether or not it’s a company you can trust with your hard-earned.
Before you decide to commit to this, you should read this FastBNB review first. You should check if it is worth your time before you pay for it.
DISCLAIMER: This is a fully independent review. I’m not affiliated with FastBNB in any shape or form whatsoever.
While reading this FastBNB review, check out my #1 recommendation to making money online after reviewing 300+ MLM companies, apps, and courses.
FastBNB Review – Quick Details
- Name: FastBNB
- Website: https://fastbnb.io/
- Type: Multi-level marketing company
- Niche: Cryptocurrency
- Owner: Unknown
- Socials: Twitter
- Recommended?: No, because MLMs are the worst business to get into. They only want to take your hard-earned cash. The opportunity I have for you can you definitely make you some decent passive income, unlike MLMs which pay via commission basis.
What is FastBNB?
FastBNB is a business that allows you to earn a daily return on your referrals’ and downline members’ investments. Unsurprisingly, your earnings rely on the people who you get to sign up.
The firm uses the Binance smart chain to function, and it takes BEP-20 as payment, as well as paying members for their profits and commissions.
I couldn’t locate any information on the company’s website or online about who owns FastBNB. That sounds pretty shady, if you ask me.
On the front page, there was a corporate video, but no information about the owner. I didn’t see any clues or links which can direct me to whoever they are, either.
Another thing that concerns me is that while looking for a money-back guarantee, I saw that they don’t have any legal documents such as a terms or privacy page. That should be something available for viewing on their site, especially for their members.
Any legitimate company’s website would undoubtedly have anything like this. For FastBNB to have this oversight shouts volumes to their credibility, or maybe lack thereof.
So, who owns FastBNB?
One thing I you can easily observe in crypto wallets is that the owner is always unknown. Of course, a wallet is definitely owned by a real person. You can track them down if you want, but don’t bet that you can find them.
The main reason why people invest in crypto is because their assets and identities are kept anonymous. Crypto wallets are designed to be this way, with only the owner being able to access them.
This is why a lot of people get tempted to invest in them. They become overconfident because of the anonymity factor. On the other hand though, this comes with a lot of disadvantages.
First off, the value of crypto is very volatile. Let’s say that you decide that you put a particular amount to your wallet. Instead of earning money from your investment, you can potentially lose it all once the value suddenly crashes.
That is inevitable. In fact, it happens too often, and could be pretty hard to predict. Even if you have a background on finance, times would come that would be pretty much cause your assets to decline in value.
This is why investing in crypto is more of a gamble than actual investing. You can double or even triple your investments instantly, but you can lose them as easily, too.
How Does FastBNB Work?
FastBNB’s solution is a smart contract transaction protocol that applies a contract’s conditions across all users automatically. While transacting, users on the platform will have to set the norms and conditions of engagement, similar to a common contract.
The smart contract works as planned after agreement and commencement, with no opportunity of orchestrating a change to pre-determined circumstances. FastBNB allows you to start with as little as 0.1 BNB and go as high as you like.
The remainder of the users leave it up to the contract to implement, so they don’t have to wait for extended periods of time to figure out when to sell or purchase. As a result, as per contract requirements, it assures that your farming output never lowers and that our users get guaranteed yield back on their staking.
Are there any products?
Well, no. There aren’t any products in here. All you can avail there is membership and the investment plans.
FastBNB’s sole service is their investment plans, which provide a unique option for members to earn a daily return on investment by recommending other investors and establishing a downline of investors.
Typical MLM, if you ask me. It is just based on crypto, instead of a typical one which sells beauty products, health products, and clothing.
At least the only takeaway from this is that you wouldn’t need to worry about inventory that could potentially spoil or go out of season. You only have to worry about finding people you can recruit for the business.
How do you make money here?
FastBNB offers three investment options with varying daily rates and maturity timeframes to select from.
When using their interest calculator, it seems that the minimum investment amount they accept is 0.1 BNB.
- Hen Farming – 1.25% daily forever
- Cow Farming – 2.5% daily for 150 days
- Ox Farming – 3% daily for 90 days
You can also earn money from referral commissions. Referral commissions are given out using a unilevel compensation model with a total of ten levels.
When all of the levels are added together, the total commissions you may make is 18%.
- 1st Level – 6% (personally recruited affiliates)
- 2nd Level – 4%
- 3rd Level – 3%
- 4th Level – 2%
- 5th Level – 1%
- 6th Level – 0.5%
- 7th Level – 0.5%
- 8th Level – 0.5%
- 9th Level – 0.5%
- 10th Level – 0.5%
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Why I Don’t Recommend Investing in Crypto
Aside from the volatility, the main reason why I don’t recommend investing in crypto is the phenomenon more commonly known as rug pull.
A rug pull is a sort of cryptocurrency fraud in which a group of people inflate their project’s token before fleeing with the cash, leaving its investors with a worthless asset.
Rug pulls occur when fraudsters establish a new crypto token, inflate its price, and then extract as much value as possible before leaving it when its price crashes to zero. Rug pulls are a decentralized finance (DeFi) exploit and a sort of exit scam.
Before understanding how to recognize a crypto rug pull and why they happen, it’s important to understand the three varieties of rug pulls.
What are the different types of rug pulls?
When token producers take all of the coins from the liquidity pool, this is known as liquidity theft. This effectively destroys all of the value that investors have invested in the currency, thereby pushing its price to zero.
In DeFi contexts, these “liquidity pulls” are common. The most typical exit fraud is a DeFi rug pull.
A developer may deceive investors by limiting sell orders. In this case, the tokens are coded in such a way that the developer is the only one who can sell them.
The developers then wait for retail investors to use matched currencies to purchase into their new coin. Paired currencies are two currencies that have been paired together for trade purposes.
They dump their holdings whenever there is enough favorable price activity, leaving a worthless token in their wake.
This kind of fraud is shown recently by the Squid Token scam.
When developers immediately sell off their own enormous number of tokens, this is known as dumping. As a result, the coin’s valuation plummets, leaving surviving investors with worthless tokens.
“Dumping” frequently happens after a lot of marketing on social media. Pump-and-Dump schemes are named after the following price increase and sell-off.
Dumping, unlike other DeFi rug pull frauds, is more ethically murky. Buying and selling one’s own cryptocurrency is not considered immoral in general.
When it comes to DeFi cryptocurrency rug pulls, “dumping” refers to the amount and speed with which a coin is dumped.
How Do MLMs Work?
Because I don’t want you to be in the dark, I’ve included this portion in my FastBNB review.
After all, this may be your first time dealing with a multi-level marketing company. Given their poor image, it would be unethical to leave out an explanation of how a multi-level marketing business operates.
I suggest reading the whole post if you’re inexperienced with multi-level marketing. This section is only an introduction to multi-level marketing, and you probably can use what you’ve learned so far as you continue reading the review.
You may also assist others by sharing what you’ve learned, which is an excellent subject for discussion.
MLMs are well aware of their low visibility. One of their marketing methods is to make sure to be as incognito as possible.
Individuals are encouraged to join because benefits such as a permanent discount on items are given to them. However, in return for this, they must provide free promotional work for the company.
In other words, free labor for no pay.
They convince them that the products they’ll be selling are revolutionary, and that people would rush to purchase them. As a consequence of the deceit, people are made to feel that product sales would come easily to them.
We should concentrate our efforts on companies that jeopardize people’s financial circumstances. They are just interested in generating money for themselves. As long as individuals are ready to part with their money, the cycle of deception will continue.
Why I Don’t Recommend FastBNB
You could think my negative assessment is slanted, however that is not the case. They’re essentially a company that doesn’t care about its members. The company just wants to keep recruiting people, like a typical pyramid scheme
They claim that joining the company would present you with ridiculous earnings, however this is not true. They just care about your hard-earned cash.
The company is motivated to deceive others just to get money. They’re trying their best to promote their “unique” crypto investment property. Yeah, They are merely cashing in on some trend.
The MLM business model is unsustainable since it will eventually run out of new members to recruit. That’s when everything will come crashing down.
And, if you look at the data and apply some basic arithmetic, you’ll see that most MLMs don’t stay long. Continuously growing an MLM is impossible, as you will run out of people to recruit eventually.
So, are you willing to give your money to a business that doesn’t care about you? Will you want to put all of your money into a company that is doomed to fail?
You ought not to do so. As a consequence, I advise you to keep as far away from them as possible. Any MLM is a bad idea.
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10 Shocking MLM Statistics that You Need to Know
- Almost 99% participants of all multi-level marketing companies lose money, according to the FTC.
- There are 38% more chances of you profiting from your own any kind of small business than joining these MLMs.
- Success rate of an online business, which will give you financial and time freedom, is 20% more than joining MLMs for making money.
- The odds of you winning a lottery worth $10k among 10,000 people is 300 times higher than actually making money from MLMs.
- According to the AARP foundation, 47% distributors of all MLMs lose their money. Apart from this, 27% do not make a single penny.
- In the remaining 26% that actually make money, 53% of them make less than $5000/year.
- 39% of those 53%, who are making $5000/year quit because recruiting and selling crappy products to friends and family members jeopardized their relationships.
- Forget about building a long term business with MLMs, because 50% of all MLMs participants quit within one year.
- 75% people that joined MLMs say that they will never again join any kind of MLM.
- A poll was conducted in 2018 among 1050 MLM distributors and it was concluded that most of them made 70 cents an hour and 20% of them did not make a sale. 60% of them made less than $500 in sales over the past 5 years and 32% of them acquired credit card debt to finance their MLM involvements.
SOURCES:
Alternatives to FastBNB
No matter what they offer, MLMs will always fail, which is why I would never urge someone to join one. So, what kind of side hustle might you take on to boost your income?
After all, a side hustle is supposed to be something you can do passively in addition to your regular employment. As a consequence, it should be something you like doing and does not need a broad knowledge of a variety of subjects you have no experience with.
However, if you want to make a lot of money, you’ll need a more intricate idea. You can take a few lessons and work as a digital marketer. If you have a financial degree background, you might prefer to try your hand at stockbroking.
There are a plethora of solutions available to you. All you have to do now is choose a niche in which you feel you can succeed in.
If you ask me though, the best side hustle should be simple enough to do while still providing a constant source of income.
Final Verdict – FastBNB
Before I end this FastBNB review, I would like to share a few more insights that could help you.
Now that you’ve completed the review, I’m certain you’ve learned all you need to know. First and foremost, I recognize that I have previously made my point about multi-level marketing. It’s all just one big deception, so don’t be fooled by any of them.
They don’t seem to be your normal scam artists, yet they are. This specific MLM takes advantage of the trend around cryptocurrency. If you ask me, crypto isn’t really as profitable as you may expect.
Commissions are based mostly on the amount of new people recruited to the organization, similar to ponzi scams. Those are illegal, by the way.
People continue to be duped by MLM promises, which is why they are still in business. These companies are experts in duping and manipulating people into thinking they are about to be handed a terrific opportunity.
They are nothing more than scam artists that will say or do anything to defraud you of your money.
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