Ethereum Pro is an elaborate scheme that promises to pay you $159 “over and over again” in exchange for just a one-time fee of $4.50. Is Ethereum Pro a scam? Probably. Let’s take a closer look in our review.
What Is Ethereum Pro?
Ethereum Pro, found online at EthereumPro.biz, is a pyramid scheme that promises to give you 4 different ways to earn Ethereum. Basically, all of those methods involve recruiting other people into the pyramid scheme, and then taking a portion of their joining fee while passing the remaining amount to the higher levels of the pyramid.
Obviously, the cryptocurrency world is exploding with attention at the moment. This has given rise to an enormous number of scams, Ponzi schemes, pyramid schemes, and other “get rich quick” plans. These plans are targeted towards cryptocurrency newbies who have heard about the enormous ROI opportunities, but don’t know how to get involved.
The Ethereum Pro scheme was created by a company called the Powerhouse Network. A video introducing the pyramid scheme claims that this is just the latest product offered by the company. However, we could find no other major products being marketed by the company online.
The only other “products” appear to be online marketing courses and MLM scams like “Powerhouse Revshare”, “Powerhouse Feeder”, and other get rich quick schemes in which 99% of participants will likely lose their money. Most of Powerhouse’s YouTube videos have fewer than 200 views.
It’s important to note that Ethereum Pro does not offer any products or services. They vaguely mention a “mining” operation (which is labeled as “coming soon” on the website). However, the business revolves around recruiting people into a meaningless pyramid.
Typically, when a company is advertising business opportunities with no products or services, that means it’s a pyramid scheme (which is illegal) and not a legitimate multilevel marketing company (which is legal in some places).
How Does Ethereum Pro Claim To Work?
Want to get rich quick? Ethereum Pro can help. The company promises to pay you “$159 over and over again” in exchange for “a onetime fee of just $4.50 per position.” You can also purchase more expensive positions in different pyramid schemes, and then earn more money from those positions.
Ultimately, there doesn’t appear to be any product or service being sold here. You’re just buying or selling memberships, taking a portion of each member’s membership fee, and then passing the fees up the pyramid.
Despite the fact that Powerhouse offers no products or services, the company claims (likely for legal purposes) that users “can earn and compound Ethereum without recruiting anyone or selling anything.”
How can you earn money without recruiting or selling anything? The company claims to have some sort of mining operation. However, this mining pool is listed as “coming soon”. Unless you have a powerful, energy-efficient computer, you’re not going to make any money by mining Ethereum.
Ethereum Pro claims to have filled its pyramid with over 4100 members so far. After joining, you can begin to fill cycler positions. You need to pay a fee to fill each cycler position. Then, you re-sell that position to someone.
If you buy a position in the “Master Cycler”, for example, you sell that position for $600. You can purchase as many cycler positions as you choose.
Ethereum Pro describes these positions as “marketing packages”.
Overall, the company describes its get rich quick scheme as “one of the most incredible online opportunities available to date”.
Ethereum Pro’s Four Income Streams
Ethereum Pro makes a big deal out of the fact that members have four different ways to make money. Most of these ways involve recruiting and referring other people to join the pyramid on lower levels. Here are the different income streams available:
Income Stream One: The Beginner Cycle
This is a onetime fee cycler system. You pay $4.50 per position and then receive $159 “over and over again”. You can choose as many beginner cycler positions as you choose.
Income Stream Two: The Master Cycler
This is a onetime fee higher ticket cycler system that provides traffic and fantastic payouts. You pay $125 per position and receive $600 “over and over again”.
Income Stream Three: The Binary Monthly Matrix
This is a binary matrix system where you pay a fee of $8 per month for the first level, then $16, $32, and $64 per month as you progress through matrices.
Income Stream Four: Powerhouse Mining Contracts
This feature is not yet available. It’s listed as “coming soon” on the official website. Typically, to mine any cryptocurrency, you need a powerful and energy efficient computer. It seems likely that Powerhouse’s mining operations are misleading: the only real way to earn money through this company is by recruiting other people to join.
Ethereum Pro Pricing
Like most MLM scams, you’ll need to pay to join Ethereum Pro. Packages start at $4.50.
You’ll need to pay with Ethereum. We’ve seen a growing number of pyramid schemes online that accept cryptocurrencies in lieu of fiat currencies – possibly because cryptocurrencies are less subject to regulation and more difficult to track.
What Is The Powerhouse Network?
The Powerhouse Network is a multilevel marketing company with owners in the United States and Canada. The company is led by Darren Bradbury, Eddie Harrison, and Eldon Conceicao. Darren and Eddie have been working in network marketing/internet marketing for 3 to 6 years, while Eldon specializes in web and software development.
Surprisingly, Ethereum Pro Limited is a legitimate registered corporation in the UK. The company number is 10812492, and a complete corporate registration listing is available as well. The company was incorporated on June 9, 2017, and is based in Nottingham, UK. The corporation is listed as an advertising agency. The three individuals listed above are all listed on the corporate registration listing.
So far, Ethereum Pro claims to have paid out over $29,000 USD to its 4,000 members.
Ethereum Pro Conclusion
The cryptocurrency industry has been flooded with scams in recent months. The industry is attracting investors with all levels of experience. Many of these investors are looking to “get rich quick”, similar to how people got rich quickly when they bought bitcoin at $7 apiece.
Unfortunately, Ethereum Pro doesn’t give us any evidence to show that it’s a legitimate business opportunity. There do not appear to be any products or services being sold here, which makes the company more of a pyramid scheme than a business opportunity.
However, Ethereum Pro doesn’t appear to be a complete scam. We’ve seen other pyramid schemes where the investors will disappear with your money immediately after you send it. Ethereum Pro, to the company’s credit, is a legitimate registered corporation in the UK, and the website provides basic details about all three founding members.
Nevertheless, Ethereum Pro does not appear to be a smart investment. There’s no evidence that the company has 4,000+ members, or that they have paid out over $30,000 USD.