Recently a website named Fintoch.com gained notoriety due to its claims of creating a new type of unique financial platform which is entirely backed by blockchain technology.
Fintoch offers guaranteed 1% daily returns on cryptocurrency investment.
In this post, we’re going to review Fintoch and answer the question is Fintoch Legit?
So let’s start without any further ado.
|Founder||Bob Lampert and William Thompson|
|Opportunity Type||Cryptocurrency MLM|
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What is Fintoch?
Fintoch is a public decentralized finance (DeFi) platform where investors can conduct all financial operations solely on blockchain technology that requires no trust.
The founders of Fintoch are Bob Lampert and William Thompson. The CFO of the company is Donald k marques.
According to similarweb, the total visits on their website is 670k +, and its domain was registered on April 2022, as per WHOIS. The minimum cost to join Fintoch is $100.
To join Fintoch you have to download their app through play store or app store and register yourself through email-id. After registering, you have to create a wallet id in their app to enable transactions.
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Fintoch Compensation Plan
Fintoch offers various types of income under its investment and referral program.
1. Daily Returns
Fintoch offers daily 1% guaranteed returns on crypto investment and a minimum $100 investment is required.
Lending $100 to Fintoch provides total returns of $6400 in a year which is an insane ROI to believe.
2. Referral Program
In their referral program, you will reach ranks depending on your total downline investments.
Keep in mind that required ranked affiliates must be in separate requirement legs. A new leg is created every time a Fintoch affiliate personally brings on a new affiliate.
3. Downline Commissions
Fintech offers 15% and 10% incentives on level 1 and 2 downline investment respectively.
4. Daily Incentive Bonus
Ranked Fintoch affiliates earn 20% of daily returns paid to affiliates at the same rank.
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Now it’s time to share some insight about Fintoch.
Lack of Information
There is not a single piece of information available about the company’s headquarters or from where its founders are operating.
This is the biggest precautionary sign that a company can have because its customers must understand from where the corporation is operating its money.
Additionally, it is necessary for a company to register under the respective jurisdictions for operations.
To raise public investment, there are several regulations and financial approval required to safeguard investors, but Fintoch lacks them.
Many reports have claimed that earlier this company was registered as Morgan DF Fintoch Ltd., which led to a number of controversial events including Morgan Stanley issuing a notice in January 2023.
A company with that kind of controversy in its initial stage is a very big issue, users should be aware of that.
The biggest red flag to look up in the company is the returns on investment that Fintoch provides.
For every legitimate and well-established scheme, it is impossible to yield such returns with a guarantee. Fintoch has not clarified the actual source of returns in their whitepaper.
This kind of return can’t be provided by any approach, hence it appears to be fraud.
Classical Money Circulation
Fintoch uses the MLM concept to promote itself, where heavy referral commissions are paid from a multi-level downline.
As they don’t have any worthy products or services, they are just circulating money among their investors.
Fintoch-like crypto MLM scams are money circulation that strategically relies on new investments.
Early investors are paid from the investment of new people and the cycle goes on. There is no yielding, staking, mining, or lending that happens as the company promise.
Ponzi Scheme Fraud
After examining the compensation plan of Fintoch, we can conclude that it is nothing more than a Ponzi scheme.
For now, it actually paying returns to its investors, to lure the maximum number of people. Meanwhile, they can disable withdrawal anytime from their side.
In these kinds of schemes, only founders and earlier members get substantial profits.
Should I Invest in Fintoch?
No, we highly recommend not investing in Fintoch-like scams.
So don’t get fooled by them and take decisions wisely.
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