It’s likely that you have come across PayAsian through an email list, on social media or got it recommended by a friend or family member.
Is PayAsian 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 PayAsian review.
First and foremost I must commend you for actually doing a bit of extra research before committing to joining PayAsian. 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 PayAsian 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 PayAsian that will hopefully help you to make the best decision you can in the end.
PRODUCT NAME: PayAsian
OWNER/S: Hero Vu
TYPE OF PRODUCT: Cryptocurrency MLM
PRICE: minimum $100
SUMMARY: Yes, I personally do consider PayAsian to be a pyramid scheme and a scam. This is because Hero has a history of being an exit scammer with his previous crypto/MLM venture therefore, there’s a good chance that PayAsian may follow in the same footsteps as his previous scam.
So of course I cannot recommend joining PayAsian, especially if you’re in the market of wanting to make legitimate money online.
FINAL RATING: 0/5
RECOMMENDED: NO!!
WHAT IS PAYASIAN?
There isn’t very much information on PayAsian’s official website but I did manage to find that the website itself was registered in April 2018 and that the CEO is an individual named Hero Vu.
PayAsian is a a crypto token that Hero’s created for the purpose of fooling uninformed individuals. It’s to fool them into investing in the company, bring others in through the MLM compensation plan and hopefully make some good money.
Well, considering the thing that’s offered is a crypto token, the chances of seeing the coin lift off is honestly slim to none, especially when you consider Hero has also promoted a very shady similar coin called SunCoin before starting up PayAsian in 2018.
From what I could find, the coin failed and the guy basically exited the market, taking with him the money of the unlucky individuals invested in the SunCoin scam coin.
Furthermore, in November 14th 2019 PayAsian was issued a securities fraud warning by The Philippine SEC so, it’s already on the radar of major regulatory governing bodies. This should instantly spark signs of a red flag along with Hero’s previous scam like endeavours in the crypto market.
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PAYASIAN’S PRODUCTS
The only thing that you can purchase if you join PayAsian is the company membership PayAsian tokens. They don’t offer any retailable products which very often tends to to indicate that the opportunity in question is not to be trusted.
You literally get nothing of value, whether it be in a physical form or as valuable teaching service or tool. The fact of the matter is that cryptocurrencies are are for the most part valueless that’s why it seems to be so easy to create new ones even if they literally have no purpose.
HOW DO YOU MAKE MONEY WITH PAYASIAN?
As is the case with pretty much all MLM businesses there are 2 ways to make money with them, PayAsian being no exception.
1. The first method is by directly selling the product to other individuals and in return make a commission for the sales
2. You make money through your recruits and downline, by getting residual income by following and meeting certain criteria as well as make money through bonuses and incentives due to meeting company set goals.
HOW TO GET STARTED
If you want to join PayAsian and in turn promote it to others, you’ll need to make a minimum initial investment of $100. On the other hand if you want to make money from the compensation plan you’d probably need to invest a lot more money.
Then again, as I said the coin is pretty much worthless anyways (being roughly 10 cents each) so, I personally cannot recommend investing even a single penny into this coin.
COMPENSATION STRUCTURE
There are a lot of parts to PayAsian’s compensation plan. In this section I’ll break them down for you.
The first manner in which PayAsian will pay you is via their supposed “guaranteed profits” if you purchase a certain amount of the PAYA coin :
- S1 – invest $100 to $1000
- S2 – invest $1001 to $5000
- S3 – invest $5001 to $10,000
- S4 – invest $10,001 to $25,000
- S5 – invest $25,001 to $100,000
- S6 – invest $100,001 or more
The amount an affiliate earns will directly impact how much PAYA coins they’ll receive :
- trade in PayAsian’s internal exchange;
- receive in commissions and bonuses; and
- withdraw (sell/transfer) through the exchange
Another red flag worth noting about is that PayAsian will only pay all of these commissions and bonuses in PAYA coins.
Referral Commissions
Affiliates will earn commissions from referrals which spans 2 levels down
- 30% is earned on level 1 (personally recruited affiliates)
- 20% is earned on level 2
Residual Commissions
PayAsian affiliates can also earn more commissions residually through a binary structure.
If you’re unfamiliar with how this structure works, simply put every affiliate will be able to recruit 2 members, one on the left leg and one on the right leg. This means your recruits, their recruits and so on will be able to do the same allowing you to potentially earn from your vertical recruits infinitely.
As for how you’re paid out, at the end of the day the guaranteed profits earned on both sides of the binary team are tallied up and the affiliate at the top will earn 30% of the guaranteed profits generated on the weaker binary team side.
Rank Achievement Bonus
PayAsian rewards individuals after they’ve achieved a specific rank within the company.
The bonuses earned are as follows :
- qualify as L1 and receive 3% of PAYA orders and $200
- qualify as L2 and receive 6% of PAYA orders and $500
- qualify as L3 and receive 9% of PAYA orders and $2000
- qualify as L4 and receive 12% of PAYA orders and $10,000
- qualify as L5 and receive 15% of PAYA orders and $50,000
Rank Leader Bonus
PayAsian affiliates earn a 10% Rank Leader Bonus based on the generated weaker binary team sides guaranteed profit volume. In turn affiliate will earn the following for achieving rank leader milestones :
- 2 million PAYA received across the weaker binary team side in guaranteed profits
- 5 million PAYA received across the weaker binary team side in guaranteed profits
- 10 million PAYA received across the weaker binary team side in guaranteed profits
- 20 million PAYA received across the weaker binary team side in guaranteed profits
- 30 million PAYA received across the weaker binary team side in guaranteed profits
- 50 million PAYA received across the weaker binary team side in guaranteed profits
As you can see, pretty much everything within the compensation plan revolves around an individuals ability to recruit others by selling only a, frankly speaking, valueless alt coin from an already somewhat shady character.
Of course I’ll explain a few other reasons why you shouldn’t invest in PayAsian below but, do know that I personally do not see any legitimate potential from PayAsian’s money making opportunity.
THE NOT SO GOOD THINGS
The Coin Has No Value
Firstly, the coin itself has now value so. The fact you can only earn commission as PAYA coins is a red flag in my opinion. On top of that PayAsian offers no tangible products either whilst acting as a MLM that has individuals solely focus on selling a coin that once again has no market value.
You can’t even use the coins to trade for actual resources, it’s just designed to sit until you can either cashout into a fiat currency (if it’s possible) or if the coin simply fails and you, along with many others are left with a huge hole in your financial pockets.
You also have got to remember that cryptocurrencies are both extremely volatile and aren’t as sternly regulated as the stock market either so, there are lot of instances where cryptocurrencies are merely designed for the purpose of pumping and dumping so that the owner can run away with the money generated from naive crypto investors
Hero Has A History To Being An Exit Scammer
Speaking of pumping and dumping, it appears as if Hero kind of did this with his previous crypto business/coin called SunCoin. It seems as if he basically cashed out after he realised the coin was a dud and well, that’s not the kind of individual you’d want to be working with wouldn’t you agree.
At this point the guy is a fairly established exit scammer so, trusting in him is far from the smartest of things you could do.
THE GOOD THINGS
There is literally nothing good to say about PayAsian in my opinion, it’s simply another one of these frankly useless altcoins that you most definitely should avoid.
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IS PAYASIAN A PYRAMID SCHEME/SCAM?
Yes, I personally do consider PayAsian to be a pyramid scheme and a scam. This is because Hero has a history of being an exit scammer with his previous crypto/MLM venture therefore, there’s a good chance that PayAsian may follow in the same footsteps as his previous scam.
So of course I cannot recommend joining PayAsian, especially if you’re in the market of wanting to make legitimate money 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 PayAsian, 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 PayAsian and would like to talk about it, again feel free to do so in the comments below!
Thanks
Amhil