Reading Time: 2 minutes Karatbars, a German cryptocurrency company whose project combined a cryptocurrency bank, a Madagascan gold mine, and a multi-level marketing style affiliate approach, has been told to shut down by German regulators after it was classed as a pyramid scheme.
Karatbars Gold is very much a pyramid scheme because it is clearly defined that if not at least 70% of the company's product that being their currency grade gold is not sold to outsiders to those not directly involved with the company, then it is defined as a pyramid.
Jun 25, 2019 - Karatbars International Save In Gold One Gram at a Time. See more ideas about Karatbars international, Karatbars, Gold.No, “Pyramid Schemes” are illegal! In addition, Karatbars International is NOT an MLM or Multi-Level Marketing company. Karatbars International is a reputable, debt-free, E-Commerce company with an optional affiliate referral program similar to Amazon, Best Buy, etc.BoN declares Karatbars International a pyramid scheme 05 May 2019 14:50pm WINDHOEK, 05 MAY (NAMPA) - The Bank of Namibia (BoN) has declared Karatbars International, an e-commerce company that specialises in the sale of small gold bars, a pyramid scheme.
How do one sell a product that you only make money that uses a commodity such as gold as a front. This is clearly a pyramid scheme that uses gold as a front to make it appear that it’s not a pyramid scheme. This is just my opinion from my experience with karatbars and its affiliates.
Karatbars, a German Cryptocurrency firm that sells “Cryptonized gold” tokens, has been ordered to stop operations by German government banking regulator BaFin, over allegations that it was running a pyramid scheme. BaFin issued a cease-and-desist order to Karatrbars parent firm Karatbit Foundation, which is registered in Belize.
In addition, Karatbars International has a licensing agreement with the Vatican, is regulated by both the LBMA and WTO and has been endorsed by the BaFin (an independent consumer watchdog similar to that of the BBB.) If Karatbars operated as a pyramid scheme or a ponzi scheme it would have been shut down long ago. Testimonials From Real People.
Karat bars are suspected of being a pyramid scheme. From vacuum cleaners to disrupt the financial system Karatbars was founded in 2011 by Halard Seiz, a vacuum cleaner salesman, and used the fame of former footballers to recommend a crypto.
Today Karatbars International is the market leader for gold in small denominations. Gold was the past and is the future. Today, digital gold can be sent to any Karatbars partner worldwide via Karatpay, a transaction app developed by Karatbars. 2017 was another important year for Karatbars International.
The Bank of Namibia has declared Karatbars International, an e-commerce company that apparently 'specialises' in the sale of small gold bars and gift items in gold bullion, a pyramid scheme.
Karatbars International was banned for being a pyramid scheme in 2016 in the country of Canada. They have pretty strict ICO regulation too as for China. Singapore hasn’t banned ICOs. But it is among the countries Karatbars International operates in via shell companies Karatbars Singapore and KaratPay.
Furthermore, the VIP package pays a commission up to 60% which means that 99.9% of commissions are being paid on new cash inflows rather than the actual product value (0.1g of gold, about 0.13% of par value), suiting up as the second classic feature of an illegal pyramid scheme.
Trading gold in stock-markets in bulk quantities is very complex, and trading currency-grade gold in the form of Karatbars is definitely something I can do, and if I can you it you can also do it. It is simple and practical for daily life. 2. Is this a pyramid scheme?
Based on recent events, I say KaratBars is a scam. The state of Florida has launched an investigation into KaratBar mlm operation. The Netherlands, Canada, Namibia, and even Germany, the home of Karatbars, have issued warnings calling the company a pyramid scheme. When an mlm company is under investigation, it is not good news.
For those that aren’t familiar with the company, KaratBars International combines elements of a pyramid scheme and selling gold. While you can technically buy gold from the company, its compensation plan makes it clear that the main focus lies with that of recruitment above all else.