EGH Recycler Reveiw: Is it a pyramid, scam, 419 or legit? Find out now
Recently, someone asked me to review EGH Recycler as he feared that it was a pyramid scheme of some sort. And why wouldn’t you?
Using GHS 5 to make a whooping GHS 16,200 should already tell you something is off. We all want to make money however would you consider an investment that gives 8,100,000% return?
Remember, if it is too good to be true, it probably is not true. Look sharp
EGH Recycler is marketed in the following words:
A multi networking system, that helps you to benefit cash prizes in incentives in 5 different businesses with same down lines throughout and a one time start up fee!!!
Sounds familiar? Yes, that is the language of pyramid scheme right there. A careful look at the model shows it is just a normal pyramid with “entrepreneurship coating”.
First, read how they explain the whole system below.
EGH RECYCLER (HOW IT WORKS) [As shared by their team]
Raise Ghc16,200 with just Ghc5 as start-up fee!
Join under your sponsor with Ghc5
And you will be upgraded to stage 1 by your sponsor.
Stage 1, PEARL
Register 3 friends under you and you will earn Ghc15 when your three friends pay you Gh¢5 each to be on stage 1.
Upgrade yourself to Stage 2 with Ghc5. The remaining Ghc10 is yours
Stage 2, EMERALD
On stage 2, you will earn. Ghc45 when 9 members in your team come to meet you on Stage 2 and pay you Gh¢5 each to be on stage 2.
Upgrade yourself to stage 3 with Ghc20.
The remaining Ghc25 is yours to keep.
Stage 3, SAPPHIRE
On stage 3, you will earn Ghc540 when 27 members in your team come to meet you on stage 3 and pay you Gh¢20 each to be on stage 3.
Upgrade yourself to stage 4, Final stage, with Ghc200
The remaining Ghc340 is yours to keep.
Stage 4, ONYX
On stage 4, which is the Final stage
You will earn a grand total amount of Ghc16,200 when 81 members in your team come to meet you on stage 4 and pay you Gh¢200 each to be on stage 4
YOU WILL BE RECYCLED OUT OF THE SYSTEM AFTER YOU HAVE FULLY EARNED ALL YOUR PROFITS. BE COOL AND ENJOY THE GOODIES OF YOUR HARD WORK.
Verdict – EGH Recycler is a Pyramid Scheme
What EGH Recycler is a typical Pyramid Scheme with payments in the form of upgrades going to the people managing this scheme.
Pyramid schemes require you to join for a fee – and the only way to get back your money (or make more in the case of EGH Recycler) is to persuade other people to join and take their fees.
People at the top of the pyramid make money from the fees of people lower down, rather than selling a legitimate product.
The business model is unsustainable, and those at the bottom of the pyramid will lose their fees with no prospect of recovering the money.
It’s like robbing your friends so the people at RGH Recycler can make money. Don’t fall for this greedy commercialism. Just like boostpal, this would soon come crashing down and a lot of Ghanaians will be crying.
Let’s know what you think in the comments section below.