What is MLC247? Is MyLifeChange247 a Scam or a Legit?
Are you are searching for the MyLifeChange247 reviews in order to find out what is My Life Change 247, either is MLC247 a scam or a legit? If so, then you are absolutely in the right place. Actually, we are not promoting or recommending MLC247, but only providing the absolute truth about this site through our MLC247 review here.
We don’t mean that we can’t earn from the companies like MLC247. But the question is how long these kinds of companies can be sustained. The main drawback of MLC247 is it’s business model which can be collapsed anytime when the market get saturated. On top of that, it follows the cash gifting system which is illegal business model. Yep, if you can take a risk, then you can make some money or looses all of it when it collapses at the same time when you invest in it. So, even these kinds of companies are paying at the moment, we don’t recommend anyone to work in these kinds of companies because we always support long lasting, sustainable and legal business such as Wealthy Affiliate about which you can find the details by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/
You can find the full list of our recommended online works and businesses which are legal and sustainable by clicking this link:- newsonlineincome.com/legitimate-work-home-businesses/
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Actually, it has been already proved that My Life Change 247 is an illegal company because it has been already banned by the concerned authorities of some countries like Namibia. The business model of MLC 247 doesn’t pass the rules and regulations of the concerned legal authorities which proves its business model is illegal.
OK, let’s find out what is MyLifeChange247 in detail through our MyLifeChange247 review.
MLC247 login and join in link:- MyLifeChange247.com (Not recommended to join)
What is MyLifeChange247.com and why don’t we recommend it?
My Life Change 247, also known as MLC247 is a combination of Ponzi and Pyramid scheme. Actually, this type of scheme is commonly known as a cash gifting scheme which claims itself to be a donation program, but in real is an illegal company which is online to scam people. This kind of business never sustains for long run. Many sites have been already failed which were running this kind of business model such as, MMM Global, BTCInvestments, ZarFund and so on which proves this business practically can’t sustain for long time.
As per the business model of MLC 247, you have to pay R200 which will be donated to an existing member and after that you have to indicate how much you want back and for how many months. After that your investment will grow daily in the ratio of 75% monthly compounded growth. To be more clear, if you invest $1000, then you will earn as below:-
- 1750 $ (1000×1.75) after a first month
- 3063 $ (1750×1.75) after the second month
- 5359 $ (3063×1.75) after the third month
- 9378 $ (5359×1.75) after the fourth month
- 16,413 $ (9378×1.75) after the fifth month
- 28,722 $ (16,413×1.75) after the sixth month
So, that means within the 6 months, you will earn $28,772 in total just by investing $1000. But, have you ever tried to find out from where that money comes? What is the source of income coming into the company? In real, there is not any verifiable source of income coming into the company other than the money invested by the members which proves it is paying the members by routing the money between the members which is an illegal Ponzi scheme practice which can’t sustain for a long time.
The whole business model of MLC 247 revolves around by gifting the cash between the members and it also provides the referral’s commission when the referrals help other members by paying its fees. So, any company which pays referral’s commission up to multi-level downlines like MLM companies, but without selling any real products or services falls into an illegal scheme known as a Pyramid scheme.
Many people always argue with us how can the owner of these kinds of donation programs can scam people when there is a direct donation between the members. They also claim owner doesn’t get any benefit from these kinds of programs. For those people, we suggest them to think twice. First of all no one will open a website or any business without thinking their own profit and on top of that, in most of the cases no one knows who is the real owner of these kinds of companies and even if we know, then also the owners can make many other accounts in the name of their relatives and they can become the members by themselves and take the direct donation from other members. So, obviously there is a high chance of happening that.
Once the market to get the new members becomes saturated, then the last one who joins the system will not get any benefit because he/she will not get any new members to make any money and will just leave the system which will start to backfire the whole system and slowly the members from down to up will start to leave the system and at last the system will collapse. This is the reason why these kinds of businesses are categorized as an illegal Pyramid Scheme which will never sustain because in order to sustain, the company should provide some good products so that there will be always a scope to get the new buyers. Without a good product, it is hard to make a system sustainable and even these kinds of business models are already marked as an illegal business by the concerned authorities. Lots of sites with this business model have been already turned into scam. Actually, not only the business model, but the MLC247 itself has already faced the legal problems. Recently, Namibia has banned this company declaring it as an illegal company which is enough to prove it is an illegal company. So, MLC 247 is a combination of Ponzi and Pyramid scheme which is also known as a cash gifting scheme. That’s why it is better to stay away from these kinds of companies. This is the reason why we have listed MLC247 within our Not Recommended sites list.
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