Today we will be reviewing a company known as King Finance Trade. Is this company the real deal? Find out in this King Finance Trade review.
I chose to investigate their passive returns potential since there has been some talk about it. Actually, side hustles promising passive income have become a trend these days.
It’s likely that someone contacted you about how their platform can earn up to 2.6 percent profits, and you’ve come here to double-check that it’s true. Well, luckily for you, that is exactly why I wrote this review.
The good news is that I’ll be giving you an unbiased view of the firm, what it sells, and its compensation plan so you can make the best decision possible.
Before you decide to commit to this, you should read this King Finance Trade 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 King Finance Trade in any shape or form whatsoever.
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King Finance Trade Review – Quick Details
- Name: King Finance Trade
- Website: https://kingfinance.trade
- Type: Multi-level marketing company
- Niche: Cryptocurrency
- Owner: Unknown
- Recommended?: No, because MLMs are not profitable at all. They only want your money, yet not care about you. The opportunity I have for you can indeed make you passive income, unlike MLMs which pay via commission basis.
What is King Finance Trade?
King Finance Trade is a team of specialists that assist their clients in making money via bitcoin mining.
The business focuses on forex, stock, and cryptocurrency trading, as well as offering different financial services across the globe. Any and all investing operations, as well as fiduciary management services, are carried out legally.
Their definition of what they are is pretty much all over the place. with who they are since this doesn’t address mining.
I couldn’t find any information on who owns King Finance Trade on the company’s website or online. If you ask me, it seems fairly dodgy.
Important information like that should be made public in the first place. After all, that is usually how people determine the legitimacy of most businesses.
The King Finance Trade website seems to be identical to the Watermine (an identical business) website. I meant precisely what I say.
The colors are the same, and the layout is the same. They basically launched this new firm with the exact old website, just with a different name. It’s essentially a clone.
They also claim to be operating lawfully, however their website has no evidence to back up this claim. There are no legal documents uploaded in there which you can view.
Their policy is more of, “We aren’t shady (even though we actually are). Just trust us.” You will just need to invest in this organization, just like you did in the previous one, and they will take care of the rest.
You also have the option to become a member of their affiliate program and advertise their services.
So, who owns King Finance Trade?
One thing I’ve noticed with crypto wallets is that the owner is never revealed. A wallet is, of course, the property of a real person. You can locate them if you really want to, but don’t count on it.
The fact that their assets and identities are anonymous is the primary reason why individuals invest in crypto. Only the owner of a crypto wallet has access to it.
This is why many individuals are enticed to put money into them. Because of the anonymity aspect, they get overconfident. However, there are a number of drawbacks to this.
To begin with, cryptocurrency is quite volatile in terms of value. Assume you decide to put a certain quantity of money inside your wallet. Rather than profiting from your investment, you may lose it all if the value drops dramatically.
How do you become an affiliate?
You may join for free as an affiliate by investing at least $10. Is this, however, a legitimate company? No, I don’t think so. This is a clone site operated by the same folks that defrauded Watermine users.
The business is the same, but their name has changed. I’d also want you to be aware of something vital. It would be difficult for the government to take action against them. Keep in mind that we have no idea who is behind this firm.
Also, when the government gets involved, it’s a lengthy procedure to attempt to get your money back, and they can only get so much back in most situations.
It must go through the trial process as well as the whole judicial system, which takes time. Be wary of any organizations who promise to refund your money.
I’ve encountered several links to websites who promise to refund your money. Such a thing does not exist. The regulators are the only ones who can do so after obtaining a court order. So never be taken in by such a ruse.
These are just more con artists attempting to defraud you. As a result, stay away from this ponzi scheme, or other ones like these.
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King Finance Trade Compensation Plan
Affiliates of King Finance invest money based on the following promises:
- ETHash – investment of $10 or more and get an interest rate 2% a day for 3 months
- SHA-256 – investment of $100 or more and get an interest rate 2.2% a day for 3 months
- Scrypt – investment of $1,000 or more and get an interest rate 2.4% a day for 3 months
- EquiHash – investment of $2500 or more and get an interest rate of 2.6% a day for 3 months
King Finance uses a unilevel incentive system to pay referral commissions.
In a unilevel compensation system, an affiliate is put at the head of a unilevel team, with every individually recruited affiliate placed right under them.
If any level 1 affiliates acquire new affiliates, they will be assigned to the original affiliate’s unilevel team at level 2. If any level 2 affiliates acquire new affiliates, they will be assigned to level 3, and so on, down a theoretically limitless number of levels.
Payable unilevel team levels are limited to four at this company.
Referral commissions are calculated as a proportion of the amount of money invested at each of these four levels:
- 1st level (personally recruited affiliates) – 8%
- 2nd level – 6%
- 3rd level – 4%
- 4th level – 2%
Why I Don’t Recommend Investing in Crypto
Apart from the volatility, the phenomena known as rug pull is the major reason why I don’t suggest investing in cryptocurrency.
A rug pull is a kind of cryptocurrency scam in which a group of individuals inflates the value of their project’s token before departing with the money, leaving the investors with a worthless asset.
Rug pulls occur when fraudsters create a new crypto token, inflate its price, and then take as much value as they can before abandoning it when its price falls to zero. Rug pulls are a kind of exit scam and a form of decentralized financing (DeFi).
It’s crucial to understand the three types of rug pulls before learning how to spot a crypto rug pull and why they happen.
What are the different types of rug pulls?
Liquidity theft occurs when token creators withdraw all of the coins from the liquidity pool. This basically wipes out all of the currency’s worth, driving its price to zero.
Liquidity pulls are frequent in DeFi settings. DeFi rug pulls are the most common exit scam.
By restricting sell orders, a developer may mislead investors. The tokens are designed in such a manner that they can only be sold by the developer in this situation.
The creators then sit back and wait for individual investors to buy into their new currency with matching currencies. Coupled currencies are two currencies that have been paired for the purpose of trade.
When there is enough positive price action, they sell their shares, leaving a worthless token behind.
Dumping occurs when a developer sells a large quantity of tokens quickly. As a consequence, the coin’s value plummets, leaving the tokens useless in the hands of surviving investors.
After a lot of social media promotion, “dumping” occurs regularly. Pump-and-dump tactics get their name from the price surge and subsequent sell-off that occurs thereafter.
Unlike other DeFi rug pull scams, dumping is fraught with ethical issues. In general, buying and selling one’s own cryptocurrency is not seen as unethical.
Dumping refers to the quantity and speed with which a coin is spilled while using DeFi cryptocurrency rug pulls.
Why I Don’t Recommend King Finance Trade
You could believe that my unfavorable judgment is skewed, however this is not the case. They’re simply a corporation that is unconcerned about its employees. Like a normal pyramid scam, the firm just wants to keep recruiting individuals.
To make money, the corporation is driven to mislead people. They’re doing all they can to advertise their “unique” cryptocurrency investment opportunity. Yes, they’re just cashing in on a fad.
The MLM business model will ultimately run out of new members to recruit, making it unsustainable. Everything will come crumbling down at that point.
So, are you prepared to hand over your hard-earned cash to a company that doesn’t care about you? Will you want to invest your whole life savings in a firm that is guaranteed to fail?
You should not do so. As a result, I recommend that you stay as far away from them as possible.
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.
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Alternatives to King Finance Trade
MLMs will always fail, no matter what they provide, which is why I would never advise someone to join one. So, what type of side business do you think you could do to supplement your income?
After all, a side hustle is intended to be something you can do on the side while working full-time. As a result, it should be something you like doing and does not need a comprehensive understanding of a range of areas with which you are unfamiliar.
If you want to earn a lot of money, though, you’ll need a more complex plan. You may learn a few skills and work as a digital marketer after taking a few classes. You could want to try your hand at stockbroking if you have a finance degree.
There are a wide range of options at your disposal. All that’s left for you to do now is choose a niche in which you believe you can prosper.
However, in my opinion, the perfect side hustle should be easy to accomplish while still delivering a steady source of revenue.
Final Verdict – King Finance Trade Review
Before I end this King Finance Trade review, I would like to share a few more insights that could help you.
I’m certain you’ve learnt everything you need to know now that you’ve finished the review. First and foremost, I acknowledge that I have already stated my position on multi-level marketing. Don’t be deceived by any of them because it’s all just a huge ruse.
Similar to ponzi schemes, commissions are based mostly on the number of new members recruited. By the way, that’s completely unlawful.
MLM claims continue to deceive people, which is why the company is still in operation. These firms are masters at deceiving and misleading individuals into believing they are going to be given a fantastic chance.
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