Is Paraiba World A Scam?
Cryptocurrency scams have been around for a while and they are not showing any signs of slowing down. Why are they so popular with scammers? Because most people, especially newbies, don’t really understand how they are meant to work.
I originally created this website after becoming a victim to such scams and since then, I’ve been on a mission to expose as many of them as possible.
Today, we’ll be reviewing a program called Paraiba World to find out whether there’s any truth behind their income claims.
The fact that you’ve taken a moment to scrutinize this product before signing up should be applauded. You’ve done yourself a huge favour. Your due diligence will save you from potentially wasting your time and money.
A good bit of research always goes a long way in the fight against online scams. Creating a sustainable full-time online business is not difficult. You just need to know where to look.
Before we proceed I’d like to let you know that I’m not linked to Paraiba World in any sort of way and I’m not trying to sell you this product.
Instead, I’d like to unravel the secrets about this program that’s disguised as a bank!
Paraiba World Product Review
- Name of Product: Paraiba World
- Owner: Erich Ely
- Type of Product: Cryptocurrency MLM Opportunity
- Cost of Product: Invest At Least $100
- Who Is This Product Best For? NOBODY!
Paraiba World Summary
Paraiba World is one of the more recent Ponzi schemes that specializes in cryptocurrency. The program claims to be a bank and appears to be operating from Hong Kong, Germany and parts of Africa. I found many concerning issues inside this program, which I’ll be discussing in today’s review.
Product Rating: 1/100
Would I Recommend This Product? Definitely Not!
Paraiba World Explained
Paraiba World claims to be a cryptocurrency specialist offering an MLM opportunity. We couldn’t find any details, on their website, about the founder of the company or the leadership team or where their offices are based.
The website provides part of an address from the Comoro Islands, a group of tiny islands located in the southeast coast of Africa. But it’s not clear if the company is actually based there.
Most of the people promoting this product have been prominent on several “Make Money Online” forums. The name that kept popping up on these forums, as the founder of the company, was Erich Ely.
The surname Ely is very popular in Germany, so it was difficult to trace him and find out his previous MLM activities. However, 3rd party sources where able to unravel that Erich Ely was a prominent German marketer of the OneCoin Ponzi scheme.
What Products Does Paraiba World Offer?
Unfortunately, Paraiba World does not provide any actual retail products or services. The FTC and regulators around the world consider this to be the telltale signs of a pyramid scheme.
The only way to make money through this program is by offering the membership to other people. We’ll get into this in the next few sections.
Does Paraiba World Work?
Paraiba World states that they’re a special private bank located in Moheli, which is one of the Comoro Islands. However, none of this is true.
The consequences of disguising themselves as a bank will definitely catch up with them soon, but behind their extravagant earning claims and the steps that they’ve taken to make the program appear genuine, Paraiba World is nothing more than the cryptocurrency Ponzi schemes that we’re used to seeing nowadays.
Here’s my take:
- Paraiba World states that they make a ROI through trading cryptocurrency, however, there’s zero proof that the company is actually placing trades to generate the profits claimed on their advertising.
- Members are assured that the program can generate a passive income, and in light of this, the company offers securities. This would require the company to be approved by the Central Bank of Honduras. Paraiba World has not provided a shred of proof that they are approved by any financial regulator.
The sole income stream that the program depends on is money from recruitment i.e. new members are recruited and “invest” into Paraiba World.
It’s very likely that the company is running an unlawful program and is liable for securities fraud. Furthermore, they are claiming to be a bank. What do you think will happen once the recruitment grinds to a halt? Yep, the business will crash.
How To Profit with Paraiba World
The program can supposedly make a return on investment for its members, but the truth is that there’s only a single way to earn, which is via recruiting more members.
Signing Up with Paraiba World
Paraiba World is free to sign up but you will need to invest at least $100 USD to participate in the compensation plan.
Compensation Plan
ROI Commissions
Investing at least $25 USD or more will offer you a daily return on investment according to the rates shown below:
- ROI of 0.3% per day if you invest up to $49,999
- ROI of 0.5% per day if you invest $50,000 or more
The payment of all ROIs is for a duration of 100 days, at which point, the initial investment is given back. Therefore, the total ROI is between 130% – 150%.
But you have to invest at least $100 to make the most of the opportunity.
Recruitment Commissions
You will be awarded with commissions according to the amount of money invested by your recruits:
- Earn 0.05% recruitment commission rate if you recruit 1 to 4 members
- Earn 0.1% recruitment commission rate if you recruit 5 to 9 members
- Earn 0.2% recruitment commission rate if you recruit 10 to 19 members
- Earn 0.3% recruitment commission rate if you recruit 20 or more members
Your recruits will need to invest at least $100 USD for you to meet the requirements of the commission.
Residual Commissions
Residual commissions are based on a uni-level payment system. Therefore, your recruits are positioned beneath you on level 1, and their recruits are positioned on level 2, and the structure carries on.
The commission percentage is calculated according to the different levels.
Paraiba World Pool Share
The company withholds 0.35% of all investments across the company and puts them into 7 different bonus pools. Each pool is divided by 0.05% and members are paid everyday based on the conditions listed below:
First Pool- Invest $1,000 personally, recruit a minimum of 1 member and potentially earn a total of $1,000 from the investments of members that you recruit directly
Second Pool- Invest $5,000 personally, recruit a minimum of 3 members and potentially earn a total of $5,000 from the investments of members that you recruit directly
Third Pool- Recruit a minimum of 5 members, sustain a personal investment of $5,000 and earn a total of $15,000 from the investments of members that you recruit directly
Fourth Pool- Invest $10,000 personally, recruit a minimum of 10 members and potentially earn a total of $35,000 from the investments of members that you recruit directly
Fifth Pool– Invest $15,000 personally, recruit a minimum of 15 members and potentially earn a total of $95,000 from the investments of members that you recruit directly
Sixth Pool– Invest $20,000 personally, recruit a minimum of 20 members and potentially earn a total of $180,000 from the investments of members that you recruit directly
Seventh Pool– Invest $50,000 personally, recruit a minimum of 20 members and potentially earn a total of $500,000 from the investments of members that you recruit directly
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Paraiba World Exposed!
1). Securities Fraud
Paraiba World has already been issued with 2 notices of securities fraud from Austria and Germany.
The initial warning was issued against Erich Ely and Pariba World by BaFin in June 2020.
Another warning was issued by the Financial Market Authority stating that Paraiba World is not authorized or licensed to handle banking transactions.
The FMA concluded that Paraiba World is a shell operation based in Hong Kong.
These warnings are comparable to securities fraud warnings in many countries.
2). It’s a Ponzi Scheme
Paraiba World’s compensation scheme is nothing more than a Ponzi scheme. All the incentives are centered around recruiting more members and your returns are dependent on the number of new members you can bring onto the program.
3). No Evidence Of Other Income Streams
The final red flag is the lack of evidence that the company is generating revenues from alternative sources beyond recruitment.
Every member profits when they recruit a new person into Paraiba World. You’ll essentially be another member’s downline from the moment you sign up.
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Advantages of Paraiba World
Paraiba World has absolutely no advantages. This will be a short-lived business that financially benefits nobody else but Erich Ely and his associates.
Is Paraiba World a Scam or Legit Business?
Paraiba World is 100% a Ponzi scheme. The company is running unlawfully and is not licensed by the financial regulators to carry out the financial transactions that it advertises.
- Their sole income stream is via recruiting more members, which makes it a pyramid scheme. There’s no doubt that the company is under the radar of various financial regulators and will likely be shut down at some point.
- The company has already been issued with warnings from several countries about their illegal activities.
My advice is that you’re better off without Paraiba World. It’s a total waste of time!
How Do I Use The Internet to Make a Full-Time Salary?
I’m not a big fan of get-rich-quick schemes or Cryptocurrency MLM programs, let’s just say that I’ve been caught short a few times.
Instead, Affiliate Marketing is my leading recommendation for people that want to build a thriving full-time online business working from home.
Here are my reasons why…
- You can get started for Free.
- There’s no pressure to recruit family and friends, or anyone else for that matter.
- You can create a business from virtually any product including the ones that you already buy. You are not limited to low-income or inferior products.
Affiliate marketing can help you to…
Generate a 4-Figure Monthly Salary and become financially free from the limitations of a traditional day job. You can do this in less than 12 months!
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