It’s likely that you have come across Doubleway through an email list, on social media or got it recommended by a friend or family member.
Is Doubleway a scam? The reasons why you’re here is because you have want answers right so, that’s what I’m going to provide for you within this Doubleway review.
First and foremost I must commend you for actually doing a bit of extra research before committing to joining Doubleway. For all you could have known, the product could be a major scam so the fact you’re here right now, researching whether or not that’s the case is a pretty smart move on your part.
To be fully transparent with you, I am personally not a member of Doubleway so I can assure you that I will not attempt to sell you it unless of course it’s worth investing in.
What I will aim to do is provide you with an unbiased 3rd party look at Doubleway that will hopefully help you to make the best decision you can in the end.
PRODUCT NAME: Doubleway
OWNER/S: N/A
TYPE OF PRODUCT: crypto based MLM
PRICE: 0.08 ethereum minimum
SUMMARY: Yes I do believe that Doubleway is a pyramid scheme and a scam.
It’s an opportunity that I would highly recommend you avoid because it shows way to many characteristics reminiscent of pyramid schemes such as recruitment being the only way to make money, the extremely expensive monthly fees for full participation in the compensation plan, the lack of an owner showing up and the lack of any retailable products.
In short, from what I can tell Doubleway is very much your run of the mill ponzi scheme and in turn is something that absolutely everyone should avoid.
FINAL RATING: 0/5
RECOMMENDED: NO!!
WHAT IS DOUBLEWAY?
Doubleway is yet another crypto currency based MLM company that does not have very much information about it on the official website regarding who the owners or even where its based.
Although from information I found within Alexa, which shows that over 50% of its traffic comes from Brazil, would imply Doubleway is likely to be a South American based company.
The basic premise of the company appears to be that of a ethereum gifting scheme where you buy in at the minimum ethereum amount and in turn pay that buy in amount to your upline. Of course I’ll discuss how things works in more detail when I discuss Doubleway’s compensation plan.
So, in short besides knowing the name of the institution there really isn’t much else about the company and who runs, which is very often a sign that I’ve found to be very common amongst companies that most trustworthy establishments.
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DOUBLEWAY PRODUCTS
Doubleway only offer people the opportunity to buy into the membership and nothing else. This is actually a major issue for MLM’s because the FTC deem the lack of any retailable products as a characteristic that pyramid schemes and ponzi schemes would showcase therefore, Doubleway’s lack of products isn’t a good look for them.
HOW DO YOU MAKE MONEY WITH DOUBLEWAY?
As is the case with pretty much all MLM businesses there are 2 ways to make money with them, Doubleway being no exception.
1. The first method is by making gains on ethereum’s market value.
2. The second way and probably the only major way to make money is by earning gifting payments from your recruits.
HOW TO GET STARTED
If you want to become a doubleway affiliate you’ll need to invest a minimum of a 0.8 ETH gifting payment.
If you want full access to the compensation plan, you’ll then need to invest a further 21.12 ETH a month, which in dollars is roughly equivalent to $2.5k/month, which is of course is an extremely steep cost.
COMPENSATION STRUCTURE
In regards to how you’ll get paid, Dobleway follows a 2 x 8 matrix where affiliates will gift ethereum to the upline.
As for how a 2 x 8 matrix structure works, simply put you’ll be placed at the top of the structure and be able to recruit 2 affiliates, your 2 recruited affiliates will also be able to do the same and this pattern continues until your earning potential gets capped at the 8th level of the structure.
The first thing that will happen when you sign up is the initial 0.08 ethereum you purchased will be transferred to your upline and then you’ll be able to recruit others too who will gift you ethereum.
As for how the gifting amounts are paid out, they’ll be done so in the following manner :
- level 1 – gift 0.8 ETH and receive 0.8 ETH from two affiliates (0.16 ETH)
- level 2 – gift 0.16 ETH and receive 0.16 ETH from four affiliates (0.64 ETH)
- level 3 – gift 0.32 ETH and receive 0.32 ETH from eight affiliates (2.56 ETH)
- level 4 – gift 0.64 ETH and receive 0.64 ETH from sixteen affiliates (10.24 ETH)
- level 5 – gift 1.28 ETH and receive 1.28 ETH from thirty-two affiliates (40.96 ETH)
- level 6 – gift 2.56 ETH and receive 2.56 ETH from sixty-four affiliates (163.84 ETH)
- level 7 – gift 5.12 ETH and receive 5.12 ETH from one hundred and twenty-eight affiliates
- level 8 – gift 10.24 ETH and receive 10.24 ETH from two hundred and fifty-six affiliates (2621.44 ETH)
These payments will also be monthly provided an affiliate continues to buy into the membership on a monthly basis.
THE NOT SO GOOD THINGS
Recruitment Is The Only Way To Make Money
The only way to make money with Doubleway is through recruitment and from the gifting payments that you’ll eventually receive from your downline team. You actually have no ability to make money from retail sales.
You should know that the FTC actually consider institutions that only offer the opportunity to earn via recruitment as pyramid schemes and this is exactly what Doubleway does.
On top of that these kind of opportunities also will see the majority of individuals actually losing out on money as it’s generally the initial adopters who’ll have even the slightest hope of profiting as newer member’s gifting payments will be backed up for more established members.
Even then these members will be required to pay 21+ ethereum payment every month to stay active, which in turn doesn’t really even guarantee that the veterans will even profit either.
There Aren’t Any Retailable Products
This is obviously a red flag because the lack of retail products means that Doubleway is completely reliant on an affiliate to continue buying into the opportunity and this is basically the definition of a pyramid scheme.
This implies that the core or you could even say the only way to make money with the opportunity is to ask someone to buy into the membership and have these affiliates continue the cycle.
The lack of retailable products is something that the FTC deem as a pyramid scheme like characteristic so, it makes a lot of sense why I would consider it to be huge red flag here.
The Owner Doesn’t Show Up
I’ve found that when the owner of a MLM opportunity or the owner of any product or service don’t show up, the opportunity in question more often than not tends to be a scam.
Of course this is also what I assume when looking at Doubleway and it’s something that you should really consider if you were seriously thinking about joining.
THE GOOD THINGS
There is literally nothing positive about Doubleway in my opinion therefore, it’s simply not an opportunity Worth pursuing.
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IS DOUBLEWAY A PYRAMID SCHEME/SCAM?
Yes I do believe that Doubleway is a pyramid scheme and a scam.
It’s an opportunity that I would highly recommend you avoid because it shows way to many characteristics reminiscent of pyramid schemes such as recruitment being the only way to make money, the extremely expensive monthly fees for full participation in the compensation plan, the lack of an owner showing up and the lack of any retailable products.
In short, from what I can tell Doubleway is very much your run of the mill ponzi scheme and in turn is something that absolutely everyone should avoid.
MY PERSONAL RECOMMENDATION
I personally will always recommend against using a MLM business model to make money, not because you can’t make money through it (you totally can) but, the system has always seemed shady to myself and is kinda synonymous with the likes of a pyramid scheme or scams (MOBE and Digital altitude).
Instead I prefer working with something created through ones own means and is ultimately dependent on yourself and your work ethic alone.
This method I’m talking about is affiliate marketing.
The reasons as to why I recommend it over MLM based structures are because
– there is no need to recruit constantly
– it is a legitimate method that has been working consistently and continues to grow as more businesses want individuals to promote products
– and because it is free to start up, no unnecessarily large start up funds needed.
The service I recommend is Wealthy Affiliate. It’s free to sign up to and will get you set up and ready to start your affiliate marketing journey within minutes, as it did for me when I begun my journey.
If you have any questions that you would like to ask me regarding Doubleway, feel free to do so in the comments section below and I will get back to you as soon as I can. If you have your own thoughts about Doubleway and would like to talk about it, again feel free to do so in the comments below!
Thanks
Amhil