What is iCharity club – A Scam?
Is iCharity legal & legit, or just another cash gifting scheme? … Does it have anything at all to do with Charity?
So many questions! Check out this full review and see what I make of it.
What is iCharity Club & How Does It Work?
Very simply put, iCharity club involves putting money into a system, (“donating”) building multiple downlines and earning money from the people who join under you and donate money to you.
There are 10 levels you can participate in, all with an increasingly higher buy-in. The profit per level also increases.
In order to make any money here, you need to make an initial payment, (or donation using their terminology) of $20 to your upline. This will enable you to move into to level 1.
You can then recruit 5 people below you, who will all donate $20 to you. Thereby making you $100 in total, or $80 profit.
In order to move on to level 2, you’d need to put in $40.
You would need to receive 25 donations, from 2 downlines and could potentially make $1000 in total- and so it continues on.
There are up to 10 possible levels that you can buy into, each level will require a higher donation from you to get into.
So, whereas level one entry is only $20, level 2 is $40…. level 10 entry price is $1,670.
But the idea is, you only buy into the next level once you’ve received the money for completing the previous level, so you’re buying into the next with profit already you’ve made.
You can see the potential levels laid out below in the table…
I find it surprising really that people can buy into this thinking that this sort of thing is achievable.
Sticking that ridiculously gigantic number down at the bottom there is naturally meant to entice people into the system.
However, many people would probably think, that even if they can’t make THAT sort of money, surely they can make a reasonable amount of profit.
It is true that $20 to enter into this sort of thing wouldn’t break the bank for anyone.
However, if you do choose to enter into this sort of scheme – go into it prepared that you could lose everything.
How Do You donate to icharity?
The donations can be sent by a variety of means such as Paypal, bitcoin, payza, skrill and western union – plus standard bank account transfer.
iCharity Club Explained – Video
Note – below video posted for information only, this isn’t a program I recommend.
Is icharity Club A Pyramid Scheme?
If you take a look at the writing above, which is on the iCharity website, you’ll see it says that is is, “not selling any product or service.”
But if all they are doing at iCharity club is…
- Making money via recruiting others into the program.
- Giving and receiving money.
- Offering no tangible product or services in exchange for this money….
Then this can simply be described as: a pyramid scheme.
The misleading word in that sentence is donation. A donation, by definition, is a GIFT, typically given for charitable causes, (see definition of donation).
But what is going on in iCharity, (despite the misleading name) has nothing to do with Charity, nor donations.
It’s quite ironic that they specifically state that they, “do not have any product or service” as their argument against them being a scam.
Because, the very set up they’re describing, is exactly what a pyramid scheme entails.
iCharity simply involves paying money into a scheme, with the sole intention of reaping significantly more money back in return.
By definition, a donation is given as a gift, with no intention of gaining anything back in return.
Ok, so what?
Well, the problem here is, pyramid schemes are illegal in many countries and ultimately, they are impossible to sustain.
It’s predicted that over 90%, or higher, of people who enter pyramid schemes will lose their investment.
What happens is, eventually people stop joining the program, money dries up, there aren’t enough people to pay the people in the above levels and the pyramid collapses.
Another term for this type of Pyramid scheme is a Cash Gifting Scheme.
Typically this is where giving cash is ineffectively disguised as being sent as a “gift.”
In this particular case, they try and escape being a cash gifting scheme – by claiming the money coming in are actually classed as donations instead.
But the money being exchanged here is clearly NOT a gift, nor a donation,
Legally, no one is fooled, as cash gifting schemes are also deemed pyramid schemes – and they are also illegal.
If you are actually giving someone a gift or donation towards an actual charitable cause, of course there is nothing illegal going on – but this isn’t what this is.
No one is giving out money here as a charitable cause, they’re doing it solely to make turn profit…. Or that is the intention.
If Cash Gifting programs are illegal – how do they exist?
People are under the wrong impression that if a program is up and running and thousands of people are participating, that that program must be legally sound.
Unfortunately, that’s completely untrue.
There are a huge number of illegal pyramid schemes in operation today and many could run for years without ever being shut down.
Sometimes the creator will get out of it before that ever occurs, taking a good deal of money along with them and shutting down the system.
If you take notice, you’ll find that there is no information to be found about who actually runs this program and this should always serve as a warning sign.
A legitimate business owner, will always be contactable and show their true identity.
Conclusion – What Is iCharity, A Scam?
iCharity is a cash gifting scheme and thereby, has all the traits of a pyramid scheme.
They even said themselves: There are no products, nor services on offer – there is simply money being exchanged.
Simply calling these payments donations, does not mean they ARE donations. You cannot change the actual definition of a donation, just to suit your own means.
But if you take guise of a “donation,” away, this program can’t escape being described as a cash gifting scheme – a form of Pyramid scheme.
Now, I’m not saying you cannot make money with these programs, you can make money joining Pyramid schemes, but a vast majority lose their money.
Most people will lose money and the later you come in, the higher the chances of that
As long as people go in with their eyes open, people make their own choices about what they want to do…
But sadly, too many people join these schemes out of desperation and often a lack of knowledge about these sorts of schemes.
In addition to this, since you don’t know who created this system, there is every chance they could shut it down whenever they want and if they run into any trouble legality wise and that’s very often what happens.
You also do not have any idea what is going on behind the scenes, but I imagine a hefty lump of cash will be being stashed away and it won’t be going to you.
Finally, this program is attempting to disguise itself as something charitable and helpful to others – considering the reality, this is pretty low, don’t you reckon?
Legit Ways For Making Money Online
The internet is full of scams and & illegal schemes and yet in an era where you’d expect people are becoming more aware of these things, peoples desperation to make quick and easy money continues to lure them in.
It is possible to make money online, but it’s not easy and it’s rarely quick.
I review all different ways to make money online, from small income opportunities to larger scale ones.
Where I make the most money online currently is via Affiliate marketing and this is where I learnt how to do that.
Have you ever been involved in this sort of program? Leave me a comment below!
All the best… 🙂
Other posts that may interest you….
- How to make money online – for beginners
- How to make $100 a day online.
- What do you need to start an online business.