PrimeLend claims to have a trading bot for generating external revenue for the affiliates. However, there is no information provided on the website about the whereabouts of the founders of the company. The domain (primelend.io) was registered privately on 9th December 2017. Hence, I was not able to find the name of the owner of the domain as well.
As always, there is no verifiable products or services found on the website apart from the affiliate recruitment program. There is a free entry option to the affiliate program who wants to earn only the referral commission. For those, who want to enjoy all the perks offered by PrimeLend, must invest a minimum of $100.
However, I would suggest thinking again if you are planning to invest in a company that is not transparent to its affiliates. If the admins feel scared in disclosing their identity, they are sure up for some hidden intentions.
PrimeLend – Compensation Plan
The company is offering PML points to its affiliates. The anonymous admins of PrimeLend are selling these worthless points for 0.50 dollars to 1 dollar each.
After the affiliates acquire these points, they are further encouraged to lend back these points back to the platform for huge ROI as promised on the website of the company. As per the statement on the website, the monthly ROI can go up to 56%.
- Plan 1: You must invest $100 – $1000 for receiving variable daily ROI and an additional 0.05% daily bonus ROI for 175 days
- Plan 2: You must invest $1001 – $5000 for receiving variable daily ROI and an additional 0.1% daily bonus ROI for 150 days
- Plan 3: You must invest $5001 – $10,000 for receiving variable daily ROI and an additional 0.2% daily bonus ROI for 110 days
- Plan 4: You must invest $10,001 – $50,000 for receiving variable daily ROI and an additional 0.3% daily bonus ROI for 90 days
- Plan 5: You must invest $50,000 or more for receiving variable daily ROI and an additional 0.35% daily bonus ROI for 60 days
PrimeLend – Referral Commission
PrimeLend uses uni-level compensation structure to pay referral commission to its affiliates. In a uni-level compensation structure, an affiliate is placed on the top order. The personally recruited affiliates are placed directly under the one who recruits them.
For example, the affiliates who are recruited by the top affiliate are placed on level 1 under the top affiliate. The affiliates who are recruited by the level 1 affiliates are placed on level 2 and so on. This can go to unlimited series, only if the company stays for that long which is always questionable in such cases.
The referral commission is paid till 5th level. A percentage of funds invested by the new affiliates are used to pay the existing ones.
- Level 1: 7%
- Level 2: 4%
- Level 3: 3%
- Level 4: 2%
- Level 5: 1%
PrimeLend – Reviews
Danial: No clue what these people are doing. There is nothing mentioned about the company’s vision and what they are offering mostly a scam. There are no names associated with the company which makes it dangerous. I tried to gather more information about the ICO launch but few people are talking about it, which is suspicious. I have better opportunities to think about. Buh bye PrimeLend.
Shane: Not my cup of tea. I am interested in bigger ICOs which show some trends. This is a dead end. Nothing new, just another ICO from the same dig hole. I am shocked why people are still investing. If you have enough money to throw, I am always available. What a shame?
Conclusion from the above Reviews
As we have discussed above, there is no evidence that can prove that this ICO is genuine. Neither the company has taken much pain in providing facts that can speak for their real work. In short, it is the similar looking scam that is widespread now a day over the internet. You pay, and you get nothing back.
So, beware of this opportunity which calls itself PrimeLend.
It is bullish to showcase imaginary numbers on the website when there are no proofs for the claims. PrimeLend claims that the algorithms that they own have generated 94% success rate. But, how on this earth did you calculate that and based on what constraints?
Every promises and information provided on the website seem flimsy. It predicts to further improve the growth ratio which also published with imaginary ink on their website. If the bot actually exists, where is the proof for the same?
Also, if the bot is capable of generating such high profits, why are the anonymous admins being so generous to share that money with strangers? These questions put us back to square one.
The company is using funds invested by the new affiliates to pay the existing ones which makes it a Ponzi Scheme and encouraging members to lend back these points makes the entire scheme, a Lending Ponzi Scheme.
Once the recruitment will fall, the ROI will also stop coming into the accounts of the affiliates and the platform will collapse. The admins will run away making a fortune for themselves. Those joining at the start would be able to recover some amount, but the majority of the affiliate will lose money in the hands of these scammers.
So, I would advise keeping distance from these anonymous fraudsters.