It’s likely that you have come across OpenAlexa through an email list, on social media or got it recommended by a friend or family member.
Is OpenAlexa 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 OpenAlexa review.
First and foremost I must commend you for actually doing a bit of extra research before committing to joining OpenAlexa . 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 OpenAlexa 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 OpenAlexa that will hopefully help you to make the best decision you can in the end.
PRODUCT NAME: OpenAlexa
OWNER/S: not disclosed
TYPE OF PRODUCT: cryptocurrency gifting scheme
PRICE: 0.03 ETH minimum
SUMMARY: Yes, OpenAlexa is a pyramid scheme and a scam and there are a fair few reasons why I believe this to be the case.
The lack of information on the owners, the overhyped and ludicrous results they seem to claim being possible, the lack of any kind of tangible products for non affiliate and of course this resulting in recruitment being the only way to make money with OpenAlexa are the reasons why I would not recommend joining it whatsoever.
FINAL RATING: 0/5
RECOMMENDED: NO!!
Table of Contents
WHAT IS OPENALEXA?
OpenAlexa appears to be an ethereum smart contract based gifting scheme where individuals essentially sign up for the right to promote the opportunity in order to possibly profit in the end.
However, for some reason there isn’t much information on who runs the company. Funnily enough the official website even claims that OpenAlexa has no administrator (owner) which obviously is a bit of lie otherwise why would the company even exist right?
The only others bits of info I could find out about the company is that the domain “openalexa.io” was registered in 30th March 2020 and that according to Alexa traffic 92% of its traffic is coming from India.
This implies that the company is probably being run by an individual in India although it’s difficult to confirm this due to the lack of information provided about the creators of the opportunity.
==>Click Here To Get Access To My FREE Make Money Online Guide!<==
OPENALEXA PRODUCTS
The only thing OpenAlexa offer is the opportunity to partake in the gifting scheme and nothing else.
They don’t seem to offer any kind of tangible or service based products for non affiliate based customer, which is actually a problem because the FTC and likely many other regulating bodies like it deem the lack of non affiliate products as a pyramid scheme like characteristic.
HOW DO YOU MAKE MONEY WITH OPENALEXA?
As is the case with pretty much all MLM businesses there are 2 ways to make money with them, OpenAlexa being no exception.
1. The first method is by making passive returns on your Ethereum investment.
2. The second method is by growing your donwline team and earning gifting payments
HOW TO GET STARTED
If you want to join OpenAlexa you’d need to invest a minimum of 0.03 ETH or upto 132.68 ETH to gain full participation of the compensation plan.
COMPENSATION STRUCTURE
OpenAlexa pays it members using the gifting model and by utilising 2 separate 2 x 6 matrix structures to pay its members.
If you don’t understand how a 2 x 6 matrix works, simply put it places an affiliate at the top of the structure allowing them to recruit 2 people. These personal recruits will then recruit another 2 individuals resulting 4 affiliates underneath them.
The cycle of doubling continues until the 6th level after which the second matrix starts and will eventually end again at the 6th level.
First Matrix Cycle Earnings
- level 1 – gift 0.03 ETH and receive 0.03 ETH from two affiliates
- level 2 – gift 0.05 ETH and receive 0.05 ETH from four affiliates
- level 3 – gift 0.1 ETH and receive 0.1 ETH from eight affiliates
- level 4 – gift 0.5 ETH and receive 0.5 ETH from sixteen affiliates
- level 5 – gift 1 ETH and receive 1 ETH from thirty-two affiliates
- level 6 – gift 3 ETH and receive 3 ETH from sixty-four affiliates
Second Matrix Cycle Earnings
- level 1 – gift 7 ETH and receive 7 ETH from two affiliates
- level 2 – gift 12 ETH and receive 12 ETH from four affiliates
- level 3 – gift 15 ETH and receive 15 ETH from eight affiliates
- level 4 – gift 25 ETH and receive 25 ETH from sixteen affiliates
- level 5 – gift 30 ETH and receive 30 ETH from thirty-two affiliates
- level 6 – gift 39 ETH and receive 39 ETH from sixty-four affiliates
These payments are said to be made every 60 days.
THE NOT SO GOOD THINGS
Recruitment Is Essential For Success
The only way to actually make money with OpenAlexa other than passively by purchasing ethereum is by recruitment. OpenAlexa claim that this isn’t the case however, clearly the whole gifting model that they use is reliant on an individuals ability to recruit and not so much through other means.
Of course the lack of any tangible products is one huge sign that OpenAlexa is following the steps that ponzi and pyramid schemes would utilise so, if I were you this point alone would be more than big enough a reason to skip out on this scheme.
The Potential Earnings Are Ludicrous
When a company completely overhypes the potential of their opportunity by making claims that it’s possible to make around $50k in 60 days, it should be pretty obvious at such a point that the company in question probably isn’t very legitimate.
Afterall get rich schemes are of course 99.9% of the time BS so, the likelihood of this company being trash is pretty darn high.
No Information On The Owner
It’s funny that OpenAlexa straight up deny having an administrator, which of course is BS again.
I’ve found that whenever a company actively withholds information on who runs it, more often than not the company in question is a scam.
Of course this isn’t always the case but, a large portion of the time it is so, do take this factor into account before jumping the gun and joining.
THE GOOD THINGS
There is literally nothing good about OpenAlexa, it’s simply a smart contract matrix scheme that you should avoid as it won’t make you ay kind of money in a legitimate way.
==>Click Here To Get Access To My FREE Make Money Online Guide!<==
IS OPENALEXA A PYRAMID SCHEME/SCAM?
Yes, OpenAlexa is a pyramid scheme and a scam and there are a fair few reasons why I believe this to be the case.
The lack of information on the owners, the overhyped and ludicrous results they seem to claim being possible, the lack of any kind of tangible products for non affiliate and of course this resulting in recruitment being the only way to make money with OpenAlexa are the reasons why I would not recommend joining it whatsoever.
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 OpenAlexa, 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 OpenAlexa and would like to talk about it, again feel free to do so in the comments below!
Thanks
Amhil