We at Business For Home are Hardcore Network Marketing Activists for over 15 years, and have an open mind for any opportunity with a compensation plan.
A Network Marketing compensation plan and a Crypto coin or token is a very high risk combination and for more than 10 years, hundreds of companies failed with it, if not 1,000+. Often with very bad actors in it, both at the corporate side as field leaders. We have not seen any success in the combination.
There are also founders and leaders with good intentions, the reality is, that it is a very difficult playing field.
For years we noticed failure after failure, management on the run with investors funds, manipulation in the genealogy (tree) for the benefit of management (family members) or chosen leaders. Manipulation of the value of the coin at exchanges.
Money made in this field in the past are through recruitment commissions and very rarely because the value of the coin or token went up. We have no problem with top earners making millions, but crypto investors have other expectations.
“However, if done right with top management, top developers and top leaders, somebody might figure out, how to make it a big success.” – Ted Nuyten, CEO Business For Home.
In this article we do not cover the legal side of Network Marketing and Crypto, (Securities fraud,) that is an whole other discussion and depends on the country or jurisdiction involved.
One thing have all offerings in common: Many promises and very technical descriptions on their websites, with a lot of smoke and mirrors.
“Our advice for a newbie is to find a crypto expert to look into the presented business offering and crypto solutions, this field is for a newbie almost impossible to review.”
Basic business questions for your recruiter 🙂
- What is the unique value of the presented crypto coin. Which problems does it solve in the market?
To develop a Crypto Coin can be done in a very short time and even for free, see mint.trustswap.org. There are thousands of crypto coins, what makes this Crypto coin unique?
- Is there a blockchain?
Maybe a strange question, however one of the largest scams in history, One Coin not even had a blockchain… Ask for proof.
- Who are the founders, do they have a proven track record both in crypto as in Network Marketing.?
“First the man, then the plan” is the mantra of mature investors. In a number of cases the opportunity is run by actors and fake founders …. What is the background of the founders? Can you identify them on social media?
- Who are the top leaders in the opportunity?
Are they on our MLM blacklist ? If so, run…
Do they have deep understanding, expertise in both crypto and Network Marketing? Most top leaders have a track record in Network Marketing but where fooled in the past by corrupt crypto company owners, because of lack of their own crypto expertise.
Why will it be a success this time? Do the top leaders focus on recruitment commissions, or on the crypto business?
- Does the Network Marketing arm has a deal with the company?
Lately we have seen some companies claiming “We have a special deal with the company, we have the exclusive rights to sell the crypto / token.”
In our opinion this opens the door for manipulation, issues between the company, marketing arm and investors. Who will be responsible for issues? The company or the marketing arm?
- How many developers are working on the crypto software?
Crypto developers are not easy to get! There is a large shortage of developers.
Who are the technical experts behind the project? Does the company feature them on the website? Are they in-house developers? Can you find them on LinkedIn or Facebook? What previous success they had? Developers are pretty expensive guys and girls:
“The average blockchain developer salary in the USA is $146,250 per year. Entry level positions start at $121,891 per year while most experienced workers make up to $180,375 per year.”
We have noticed in a number of cases the absence of a technical team. The company just bought some standard software to run the show.
- What does the token exactly represent?
Crypto coins are forms of currency that can be used to make purchases, but you can use a crypto token for many other reasons as well, including as investments and to store value.
The term crypto token refers to a special virtual currency token or how cryptocurrencies are denominated. These tokens represent fungible and tradable assets or utilities that reside on their own blockchains.
Crypto tokens are often used to fundraise for crowd sales, but they can also serve as a substitute for other things.
These tokens are usually created, distributed, sold, and circulated through the standard initial coin offering (ICO) process, which involves a crowdfunding exercise to fund project development.
Is the crypto coin listed on a reputable exchange?
Listing a coin on a cryptocurrency exchange can cost between $1 million and $3 million. The wide disparity in their ranges is dependent on reputation and access to quick liquidity.
The lower end of that estimate is for a “reasonably regarded token” while the higher end ensures easy access to quick liquidity through exchanges that offer fiat conversion services. An example of the latter type of exchange is Coinbase. The exchanges have a pecking order, with those that offer easy conversion to and from fiat cryptocurrencies being the most expensive.
- What are the benefits of the crypto software the company develops?
The company and promoters often promise “innovative blockchain technology” and “powerful, reliable, and secure applications and smart-contracts.”
Ask your recruiter to explain those benefits in basic english.
- When will the majority of the crypto software works?
99,9% of the companies failed to deliver that “innovative blockchain technology and applications” or the market did not accept the solutions.
- How does the company solve the crypto chicken / egg problem, with staking?
The moment the coin will be listed on an exchange, either the founders or the early investors and top leaders will sell immediately their coins, bringing the value and credibility down to almost zero.
Crypto staking is the process of locking up crypto holdings in order to obtain rewards or earn interest. However, staking is not without risk. You’ll earn rewards in crypto, a volatile asset. Sometimes, you have to lock up your crypto for a set long period of time.
Founders might have crypto coins without staking, they will outperform the field and investors…
- How is the company protected against hackers.?
“We got hacked, they stole all our funds!” All though true in a number of cases, it is also the perfect exit strategy excuse for many crypto failures.
For professional hackers, fast growing MLM companies, are low hanging fruit. They come in at an early stage sometimes as a distributor, compromise a web server, study for months the software, and attack, and can bankrupt a company in a day.
- Is the company accepting more than 1 spot in the genealogy.?
More than 1 spot in the genealogy of a company is often considered as manipulation. For many leaders it is a red flag.
- Are merchants accepting the coin?
Outside of the company eco system, what can you buy with the coin? A crypto coin need Billions of market capitalisation before merchants accept the coin: As of 29 December 2022 the top 10 crypto’s based on market cap:
- Bitcoin $319 Billion
- Ethereum $147 Billion
- Tether $66 Billion
- USD Coin $44 Billion
- BNB $39 Billion
- XRP $17 Billion
- Binance USD $16 Billion
- Dogecoin $9 Billion
- Cardano $8 Billion
- Polygon $6 Billion
If you found your perfect Network Marketing Crypto / blockchain opportunity, congratulations!
Disclaimer: While we have used our reasonable efforts to ensure the accuracy of the data used in this website, data should be read as indicative of magnitude rather than exact figures. Business For Home BV has made every attempt to ensure the accuracy and reliability of the information provided on this website.
However, the information is provided “as is” without warranty of any kind. Business For Home BV does not accept any responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information contained on this website. No warranties, promises and/or representations of any kind, expressed or implied, are given as to the nature, standard, accuracy or otherwise of the information provided in this website nor to the suitability or otherwise of the information to your particular circumstances.