It’s likely that you have come across Global Dream Network through an email list, on social media or got it recommended by a friend or family member.
Is Global Dream Network 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 Global Dream Network review.
First and foremost I must commend you for actually doing a bit of extra research before committing to joining Global Dream Network. 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 Global Dream Network 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 Global Dream Network that will hopefully help you to make the best decision you can in the end.
PRODUCT NAME: Global Dream Network (GDN)
OWNER/S: Akim Sibande??
TYPE OF PRODUCT: peer to peer lending MLM
PRICE: “free to join” (real cost roughly $24)
SUMMARY: I do believe that this new peer to peer lending MLM company is a scam and a pyramid scheme, one that you absolutely should avoid especially if you’re looking for a way to make legitimate money online.
The lack of essential information on their website, the dodgy way that they handle money as well as the fact there’s no tangible products being sold making it look and act like a pyramid Scheme cash gifting MLM, I would advise you to avoid it joining GDN at all costs.
If you still want to make money online however, I suggest checking out my make money online guide to see how myself and money others have legitimately made income online.
FINAL RATING: 0/5
RECOMMENDED: NO!!
WHAT IS GLODEN DREAM NETWORK?
GDN is a peer to peer lending MLM company based in South Africa and was actually founded sometime in early – mid 2019 making it a very new MLM company. The basic premise of the peer to peer lending that GDN does is very similar to other crowd funding websites, the likes of which include GoFundMe, Kickstarter, Crowdrise and fair few more.
If you know how these systems work, generally you put out an idea for wanting to start something and if people like them, they’ll help in funding the project for you. Sometimes you’ll even be able to ask to be funded for a personal emergency (surgery, chemotherapy etc.).
As for the owner of the company, I had to do a little digging but, I managed to come up with one name that constantly popped up, the name being Akim Sibande. It’s hard to confirm if he is the owner of GDN but I’m pretty sure he has some very big ties with the MLM.
Personally I do think this crowdfunding aspect for a MLM company is a little weird because you’re not really selling anything and you have to sign up through someone else to join (which is typical of MLM companies but it’s still a bit weird). In essence all you’re required to do is ask to be crowd funded or fund someone for yourself.
I don’t see why you’d decide to use GDN for such a thing when there are much more reliable companies out there that do the same thing and have been around a lot longer.
But, from the looks of it, there’s not much positive I can take from GDN.
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HOW DOES GLOBAL DREAM NEWTWORK WORK?
As I said above, GDN is a crowdfunding MLM were you’re donated money from peers within the network, the money with which you can use for whatever needs specified when setting up your fundraiser.
After this, there are a fair few steps you’d need to follow in order to receive your cash. But in order to receive the money, you’ll need to also provide more than just your name and email. You’ll also be required to provide your bank name, bank account details and phone number.
This is a little more than most would be willing to give so, if you’re not comfortable providing these details (which makes sense considering it’s such a new MLM), joining GDN probably won’t do you any good.
According to GDN, there are no administrations fees on donations so every donation paid your way should theoretically be paid in full.
However, how much you get paid will also depend on what rank you are as a member, so there’s a bit of a contradiction to this statement. You should also know that the currency used by GDN is the South African Rand.
Furthermore, the donations are transferred to local banks to be processed. Once you recieve the donation you’ll need to confirm it. You’ll then need to approve the donation within 12 hours because if you don’t, you’re account will be blocked meaning you won’t be able to make or recieve donations.
You also won’t be able to request a refund even if you accidentally donate some money because the funds tend to be relocated to GDN’s person’s processor even though they don’t hold the funds or even facilitate the transactions.
HOW TO GET STARTED
GDN is technically free to join but, in order to activate your account you will need to donate. The minimum donation is R350 (about $24) so technically joining will cost you a little but of money. Of course you have to provide your details too as I mentioned above such as your bank name, bank account number, phone number etc.
Moreover, it’s also possible to open up multiple different accounts with GDN, in fact that’s exactly what they want you to do but, even if it is free GDN doesn’t seem all that trustworthy in my honest opinion.
COMPENSATION STRUCTURE
The compensation plan for GDN does seem quite confusing especially when you consider the compsmy doesn’t sell anything, instead you’re just asked to contribute towards someone else’s mission, which will generally be an individual like you who thought that they would be able to make money with GDN and technically they can but, it’s a little weird.
Firstly any time you recruit someone and they pay the initial donation of R350, that money will go to their direct sponsor, which in this case would be you. That’s the first way you can make money with the system, through essentially a cash gifting system.
There are more levels to the compensation plan and it’s definitely hard tying to understand how it works but I’ll try to explain it to as best as I can.
The image above shows the basic pay structure GDN follows.
When a level 1 affiliate pay R350 South AFRICAN, they’ll supposedly get R700 back. They can also upgrade by paying R600 to profit another R100.
A level 2 affiliate will follow the same process and in the end will walk away with R1500 in profit. A level 3 member will profit R5200 whilst a level member will make R32000.
It’s honestly one of the more confusing plans I’ve seen but, it also doesn’t seem all the legitimate too which is why I would suggest being wary of it.
THE NOT SO GOOD THINGS
There’s Not Much Information About The Company On its Website
The website doesn’t give you much to go off of. The website looks nice on the surface but it’s missing a ton of important information such as the name of the owner, contact information etc.
To put it bluntly, it’s far from a professional looking website.
It’s Pretty Much A Cash Gifting Scam
There’s no tangible products and the only way you make money is by recruiting people who essentially pay you through their initial donation and then you pay to upgrade your membership rank and simply repeat the process.
So, you just have to buy more things from the company and recruit others so that they can pay you. It’s a a very shady business model and is pretty much a cash gifting scam as far as I can tell. The actual donation aspect of the company may be real such as money for startups and personal surgeries etc.
However, it’s hard to verify anything so it’s also possible members may be scamming other members.
In short, GDN has the makings of a pyramid scheme and is a MLM company that you should not join whatsoever.
THE GOOD THINGS
There’s literally nothing good going for GDN from the dodgy compensation plan to how new and not very credible the company is. Why would anyone risk getting crowd funded by a company like GDN when there are so many more legitimate ones out there and why would anyone try making money from a system that has the makings of a scam.
I don’t think anyone would which is why GDN, in my opinion atleast, doesn’t have anything good going for it.
==>Click Here To Get Access To My FREE Make Money Online Guide!<==
IS GLOBAL DREAM NETWORK A PYRAMID SCHEME/SCAM?
I do believe that this new peer to peer lending MLM company is a scam and a pyramid scheme, one that you absolutely should avoid especially if you’re looking for a way to make legitimate money online.
The lack of essential information on their website, the dodgy way that they handle money as well as the fact there’s no tangible products being sold making it look and act like a pyramid Scheme cash gifting MLM, I would advise you to avoid it joining GDN at all costs.
If you still want to make money online however, I suggest checking out my make money online guide to see how myself and money others have legitimately made income online.
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 GDN , 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 GDN and would like to talk about it, again feel free to do so in the comments below!
Thanks
Amhil