“Want to make money with little or no effort at all? With just 0.05 ETH investment, you can make hundreds or thousands in a few days. ETHMatrix is the safest, fastest Ethereum token multiplier smart contract!”
Wait. Wait. I’m not selling you anything. Those were the words of a promoter of ETHMatrix I saw on Facebook.
If you are interested in handing your money over to its platform, then you need to read this review first.
Is it legit or scam? What are its products?
Read this ETHMatrix review now and find out!
Table of Contents
ETHMatrix’s essential information was not disclosed on its official website. You will never know who runs the company. Moreover, its developers are not known. Neither you can find its address on the web.
Furthermore, there is no white paper for this project.
What problem is ETHMatrix trying to solve?
Its official website was privately registered on June 3, 2020. Just a few days ago as of this writing. If the company or a platform is not transparent as to who they are, then you need to think a thousand times before investing.
What is ETHMatrix?
According to its web page, the ETHMatrix network is a smart contract running the decentralized Ethereum network and does not belong to any person or business enterprise.
Its purpose is to distribute the ETH cryptocurrency token evenly between all users of the smart contract. The distribution is controlled by the smart contract algorithm ~ which is immutable, uncontrollable, and unstoppable!
If you are new to blockchain, bitcoin, or cryptocurrency, you will surely believe in those statements. But, think again and do a little research on this tech. You can read our article on blockchain technology, so you will have basic ideas on what it is.
While it’s easy to claim that ETHMatrix runs on the Ethereum Blockchain, proving that they are legitimate is a different story.
Based on our research, we believe ETHMatrix is just a platform to distribute ETH to the participants without any products or services in return. A commission goes to the admin or the developers of the project.
Products and Services
ETHMatrix has no products or services. What the members are selling is the affiliate membership itself.
Registration to ETHMatrix will cost you 0.005 ETH. Once the payment is confirmed, you will now two matrices. These are the Matrix x3 and Matrix x6, as shown below:
Luckily, ETHMatrix is honest about its illegal activity. It says under your Matrix are your partners who pay ETH direct to your wallet.
Easy money, right?
In short, if I join and recruit you, you must pay me so that I will earn. Without receiving any products or services, what you will get is the right to recruit other people and make money from their payments.
Game Mechanics -ETHMatrix x3
It’s funny how the people behind this project call its compensation plan as a game mechanic. Remember, people who join this scheme are not playing games. They are investing in real money to buy ETH and send them to another party.
But anyway, the compensation plan goes like this:
- ETHMatrix x3 has 12 levels; each level is twice the price of the previous. Each level has 3 Partners below you (And you are referred by another account):
- For your first 2 partners below you – their payments into the ETHMatrix go directly into your wallet (Minus the Dividend commission of 2%).
- The 3rd partner that comes under your account at each level auto reinvests for you! The payment comes to you, but auto pays for the level to be renewed by paying your upstream partner (At the same level).
- This renewal process resets your current partner’s connection (User C & D). At this point, you should upgrade to the next level; if not, the next round of payments at this level will be redirected to your upstream partner.
- You will also receive these “upstream/overflow” payments from your downstream partners, too, when they renew (See payment flow from User H).
- There are no expiry dates on partners or levels.
Game Mechanics- ETHMatrix x6
- ETHMatrix x6 has 12 levels like x3; each level is twice the price of the previous. But unlike x3, this system is 2 levels deep for your referred partners – giving 6 partners in total.
- Your first 2 partners under x6 pay their payments (Minus the Dividend commission) direct to your current partner (User A).
- The second level (Users E, F, G & H) is your payment level with Users E, F, G paying direct ETH to direct into your wallet (Minus the dividend commission).
- User H is the auto-reinvest payment who renews the level for you. This scenario clears your referrals, letting the system begin again, but only if you upgrade to the next level. Otherwise, the next round of payments from your partners would go up to your Matrix to your partner.
ETHMatrx – Upgrading Levels
Staying ahead of the levels of your partners entitles you more profit. Hence, it is your priority to on top of them. Otherwise, you will lose the opportunity to earn from them when they are ahead of you.
ETHMatrx – Dividends
You can call it rebates. A 2% dividend commission is charged for every matrix payment. Then, it is paid to all members of the Matrix.
Is ETHMatrix Legit or Scam?
ETHMatrix is a scam. It is a Pyramid scheme where the new affiliates pay the income of the members. Once the recruitment stops, people will no longer make money out of it.
Eventually, it will fall, and most people will lose money then.
Also, there aren’t any products or services that affiliates are selling other than the membership itself.
Who will benefit from this scheme? Of course, those who joined earlier. They will make money from the new victims like you, your family, or friends.
Also, the scheme may be classified as an investment contract. An investment contract is an instrument that requires strict compliance with the Securities Regulation Code of the Philippines.
ETHMatrix Review: Conclusion
Avoid ETHMatrix at all costs. It is a scam. It is a Pyramid Scheme.
We know it is possible to make money online, however, joining this platform is not the best thing to do.
If you have seen people in social media promoting this scam, ignore it and report to the SEC. If you are a victim, please report it immediately to the SEC, NBI, or PNP Cybercrime Division.
Also, we suggest you share this article with your social media or someone you know. Your action will save a lot of people from these prey.
Thank you for reading. We want to hear your thoughts in the comment section.