Hello and a very warm welcome back. Today we are going to do a review of a company called Evorich. We are going to find out if this is a legit business or not?
There are quite a few reviews around on this offering so I thought I would check it out as a possible future investment.
If you want to know more about EvoRich then you have come to the right place!
Don’t ever invest in anything without carrying out your due diligence. I congratulate you for being here and doing just that!
That way you will not be scammed.
Disclaimer. I am not associated or affiliated in any way with EvoRich. If you decide to join this program after reading this review I will not be compensated in any way.
Let’s just dive in and find out more about EvoRich:
Program Name: EvoRich
Founded By: Andrey Khovratov
Type of company: Cryptocurrency investment MLM
Price to join: Unknown
Who is it suitable for: This is a basic MLM program that has no products and is not a program that I would recommend joining.
There is no information on the website of who the owner is and that is a big red flag.
I don’t believe all the hype that you can make money with this at all. Only those at the top get paid.
What Is EvoRich?
EvoRich offers you an investment opportunity that you can join to earn a promised ROI and also earn more money through the referral program that it offers.
This company seems to be a re-branding of a failed investment company similar to EvoRich which was called SkyWay Capital.
The founder of EvoRich is Andrey Khovratov (also known by the names Andrii Khovratov, Andrei Khovratov), who is a former Skyway Capital executive.
Back In 2017, Khovratov filed a defamation lawsuit against a Russian newspaper on behalf of Skyway Capital.
He actually lost the case.
EvoRich was introduced in the last quarter of 2020.
After doing a thorough check of the pages of the company website, I was unable to find any products or services that you would get after making an investment with EvoRich.
The only thing that is possible for you to do is to join the investment opportunity to earn from the promised ROI and the referral opportunity that the company offers.
How does The Compensation Plan work For EvoRich?
There are 2 ways that you can earn money with the EvoRich opportunity which are through:
1. Return On Investment Profit Commissions
2. And Referral Commissions
How To Get Started?
I found it very strange that there is no information about the cost to join EvoRich.
They are launching the company in stages this means that when you are one of the first ones to join in one of these phased launches, you will do so at a reduced cost of the coin (WCRU) compared to the cost of the coin when they officially launch.
The company is launching in 4 stages.
The token being used is what is referred to as a cryptocurrency coin that has no real value outside of the program and the company actually sets the value of the token.
So, if you were looking for the coin on the blockchain website, the value might say something like .00006 but on the company website, they may set the value at $1 per coin/token which is how the way that these tokens work.
Commissions will get paid out in another token that has virtually zero value outside of the company so it will have to be exchanged within the company at the value that they put on the coin.
Return On Investment Profits
ROI profits are paid as percentage payouts and set in various lengths of time if you decide to hold your tokens with the company they can be cashed out every 30 days.
This is the returns if you decide to hold your WCRU tokens with the company:
- 1 to 180 Days Pays out 1% every 30 days
- 181 to 365 days Pays out 1.5% every 30 days
- 366 to 545 days Pays out 2% every 30 days
- 546 to 730 days Pays out 3% every 30 days
- 731 to 1061 days Pays out 5% every 30 days
The compensation plan also has referral commissions.
The way to make more money with EvoRanks is by increasing your rank in the company.
You need to qualify to increase your rank by reaching certain criteria that deal with investment volume, recruiting, and downline size.
How EvoRank Works?
- Partner Rank, To get this rank, you will have to invest 30 to 200 in WCRU.
- Agent Rank, To attain this rank, you will have to invest 50 to 300 in WCRU and personally recruit 2 members that purchased at least 200 WCRU each.
- Consultant Rank, To get this rank, you will have to invest 300 to 1000 in WCRU and personally recruit 4 members that purchased at least 200 WCRU each.
- Manager Rank, To attain this rank, you will have to invest 1000 to 10,000 in WCRU and have at least 4 Consultant ranks in your downline
- Leader Manager Rank, To get this rank, you will have to invest 5000 to 20,000 in WCRU and have at least 4 Manager ranked members in your downline
- Top Manager Rank, To get this rank, you will have to invest 10,000 to 50,000 in WCRU and have at least 4 Manager ranked members in your downline
- Vice President Rank, To attain this rank, you will have to invest 50,000 to 100,000 in WCRU and have at least 2 Top Manager ranked members in your downline
- President Rank, To get this rank, you will have to invest 100,000 to 1,000,000 in WCRU and have at least 2 Vice President ranked members in your downline
The Residual Commission Structure
EvoRich pays residual commissions using the unilevel compensation structure.
A unilevel compensation structure places You at the top of a unilevel team, with every personally recruited affiliate placed directly under them which become your (level 1):
If any level 1 affiliate recruits a new member, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new members, they are placed on level 3 and so on and so forth down a theoretically infinite number of levels.
Residual commissions are paid out as a % of funds invested in WCRU across the unilevel team.
How many levels of residual commissions are paid out on is determined by the affiliate’s rank:
- Partners can earn 8% on level 1 (personally recruited affiliates), 5% on level 2 and 3% on level 3
- Agents can earn 8% on level 1, 7% on level 2, 4% on level 3 and 3% on level 4
- Consultants can earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 2% to 3.5% on levels “6 and more”
- Managers can earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 4% to 5.5% on “levels 6 and more”
- Leader Managers can earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 6% to 7% on “levels 6 and more”
- Top Managers can earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 7.4% to 7.8% on “levels 6 and more”
- Vice Presidents can earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 8.2% to 8.6% on “levels 6 and more”
- Presidents can earn 8% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5 and 9.1% to (percentage amount blocked in presentation) on “levels 6 and more”
Whether “levels 6 and more” go down to infinity or is a generational bonus is not made clear.
The Dividend Commissions
As well as the rest of the ways that you can make money with EvoRich, the company also offers company dividends to its investors.
They claim that you will get a 12% to 35% dividend payout.
The company has a target of $10 million before it will start to pay these dividends out.
Pros Of EvoRich
I could not find a single pro about Evorich.
Cons Of Evorich
No cost to join information.
No products or services on offer means it is an MLM.
The total lack of transparency about who runs the company.
No legit investment company can guarantee you a fixed return on your investment.
A promised ROI but there is nothing to prove that the company is registered to offer this service.
Not being registered can lead to the closure of the company with fines and lawsuits.
Commissions are not paid out in cash, only in worthless tokens.
The Financial Markets Authority of New Zealand has put Evorich, NEEW and Skyway Investment Group under its watchlist which means it has been blacklisted. According to the official statement, these companies show the hallmarks of a scam.
Would I Recommend Evorich?
After going through everything in this review. No, I would not join this program because it is a Ponzi scheme.
There are just too many red flags and I would not recommend it to anyone else.
I just share the information that I have found through my research and the rest is up to you.
Are you reading this review because you are looking for a business opportunity to work online from home?
If your answer is yes then read on a little further!
This post may contain affiliate links. This means if you click through and make a purchase I will receive a commission. The price you pay will not be affected.
How I Work Full-Time Online From Home
For many years I searched for a legitimate way to make money online. I knew it was possible and I just had to find it!
The search actually took me 6 long years and I got into some terrible programs in that time and spent absolutely thousands of dollars.
Last year I finally found exactly what I was looking for!
It’s called Wealthy Affiliate and as soon as I joined I felt completely at home.
I didn’t need any special skills and it was free to join, what did I have to lose.
Suitable for beginners and experienced marketers.
You can read my Wealthy Affiliate Review. Including the pros and cons.
The Reasons I Chose Affiliate Marketing
I work In the world of Affiliate Marketing. There are many positive reasons for this:
- You can start for free (with my #1 recommended program) If you want to build your own successful business it is best to upgrade to the premium membership.
- There are no expensive tools or software to pay for
- You can work on this a couple of hours a day in your spare time
- You don’t need to make your own products
- You will learn all about SEO which is the organic and sustainable way of driving traffic to your site
- No need to recruit others to join
- You don’t need to be concerned with customer support
- No special skills needed (which is good because I don’t have any 🙂
- You can still earn from whatever you are writing today for many years to come, a truly passive income
- No need to pay out for ads, unlike some programs.
- Wealthy Affiliate has been around for 16 years
After starting with this training program 13 months ago and learning all I needed to know for a fraction of the money that some courses are charging I quit my hated day job at the 10-month mark.
Affiliate Marketing is a simple business model that just takes a lot of work to get started in the beginning because you are getting traffic organically as opposed to paying for it.
Now I spend my days writing reviews to stop innocent people like yourself from being scammed like I was!
We Have Super Affiliates In Our Community of over 1 million like-minded entrepreneurs
I work alongside Super Affiliates such as Littlemama, aka Grace. She started with this program with no experience and regularly posts affiliate commissions earned like this one:
This post just goes to show if you write a post today you can get paid out on it for many years to come as long as you keep the site running.
Look at the date, this was posted 14th April 2021 and there are many more inside my number 1 recommendation which you can join for free today!
(If you want to make your new business work upgrade to the premium membership for $49 a month or $1.63 a day that’s less than a Starbucks!)
Thanks for supporting me to the end of this post I appreciate your time.
Have a question for me then please leave it in the comments below and I will get back to you as soon as humanly possible.
Did you get value from this post? If you did then please share it to help others. Thank you.
Lisa. Founder and CEO of mistakesbloggersmake.com