Crowdfunding is one of the most advanced and creative ways to raise money. However, some platforms also offer you an opportunity to make money using such services.
One such platform is Cooperative Crowdfunding (CoopCrowd). The website allows users to work on a Multi-Level Marketing Scheme (MLM), wherein they can refer others to the website and make money in this process.
Simply put, the website allows you to raise money for anything (including charities, business, events, etc.), while also providing you with an opportunity to make money by referring others.
Website URL- https://coopcrowd.com/
Table of Contents
What Is Cooperative Crowdfunding (CoopCrowd)?
Cooperative Crowdfunding (CoopCrowd), as the name suggests is a crowdfunding website that allows it’s users to crowdfund various projects (personal, charitable & business), on a donation-based system.
However, unlike other traditional crowdfunding platforms, this website provides users with an opportunity to earn referral income by referring new affiliates to the website(although there is a twist in the story which you would get to know about in a few seconds).
It works on a Multi-Level Marketing (MLM) system, wherein the more people you refer, the more you earn. The website has ten different levels of affiliate networks, with each level having a different revenue percentage.
How Does It Work?
To get started with Cooperative Crowdfunding (CoopCrowd), you first need to register with the website. The registration process is quite simple and straightforward.
However, the registration is not free. In order to join as an affiliate on the website, you are required to make a donation of €25 every 28 days.
Also, to receive gifting payments in return, you need to pay an additional sum of €10 every six months. So roughly, all affiliates are required to pay around €325 every year, just to become an affiliate.
After this, you are required to refer others to join the platform. For every new referral, you are entitled to earn 25% of the donation amount of your referral.
So for instance, you refer a new user, and he donates €25 in the first month. You then receive 25% of €25 donated by the new user.
The Compensation Plan
This MLM Network has a 3×10 matrix system in place. The compensation plan is quite simple to understand, and is as follows –
1. Level 1 Affiliates – 10% of Donation Amount
2. Level 2 – 4 Affiliates – 5% of Donation Amount
3. Level 5 Affiliates – 2.5% of Donation Amount
4. Level 6 Affiliates – 5% of Donation Amount
5. Level 7-8 Affiliates – 2.5% of Donation Amount
6. Level 9 Affiliates – 5% of Donation Amount
7. Level 10 Affiliates – 7.5% of Donation Amount
It’s hard to understand why the affiliate earning percentage differ at different levels. However, this break-up of affiliate earning has clearly been mentioned on the website.
If more people are under you then you are going to earn more. It is really important to know how things work because the owner has cleverly masked this MLM into a gift-giving scheme.
This is not crowdfunding since just the terms that are used here are different. The particular amount that you pay every month is actually the membership fees and the money you receive from others is nothing but the commissions that you are going to get.
Pros
1. The website has clearly mentioned the different affiliate levels, along with the respective earning potential.
2. The sign-up process is very easy and can be completed in a couple of minutes.
Cons
1. The platform is not easy to use. You will be required to pay a monthly subscription, just to be an affiliate.
2. The website has a very redundant and hard to understand navigation. Using the website is not a pleasant experience.
3. There is no page on the website teaching you the ways to earn money using this platform. You need to learn it on your own.
4. They run on a 3×10 matrix system. This means, that in order to reach Level 10, you need to have at least 59,049 active donors, which is almost impossible.
Would I recommend this website?
No. Cooperative Crowdfunding is a scam that is hiding behind the idea of crowdfunding and gift-giving. It says that you are giving a “gift” but that is just another term that they are using for membership fees.
You basically do not receive your affiliate commissions if you do not pay the required amount every month. And the fact that they use the term, you receive gifts from other members is nothing but your affiliate commissions.
I have to agree that the owner was pretty clever, he cleverly changed the terms being used so that it would be difficult for a beginner or someone new to figure out what the program is all about.
So, for someone who thinks that this is an innocent crowdfunding program, it is NOT! It is just another MLM scheme and for all you know, you might never get paid.
There is going to be a point when people realize that this program is a clever MLM strategy and when they do realize this, the members that are high up on the affiliate tree would stop reviewing any commissions resulting in them not paying their monthly fees.
This would slowly reach up and result in the collapse of the whole system. You can only fool someone for so long. There are so many better ways of making money online and I would highly suggest you look into them rather than wasting your time in this so-called “Gifting Scheme”.
Conclusion
Cooperative Crowdfunding is a typical MLM scam and like any other MLM scam, it is going to be difficult to make money from it and if you even manage to make money from this system, it is not going to last long.
If you want to make a full-time income then I would suggest that you look into all the other options that you have out there. MLMs are not legit and they are not the right way to get started with making money online.
If you are serious about making a full-time income online, then you can get started with affiliate marketing. I got started the same way, and I can say that it is probably one of the cheapest ways to get started online for a beginner.
The course I joined does not require you to have any coding skills, and neither do you need to have an inventory. You can get started at an introductory offer of $19 a month, and if you want a free trial, you get that as well!
The course that I joined to learn affiliate marketing was Wealthy Affiliate. One of the reasons I went for it was because it had worked for many people in the past, and it was affordable, so I had nothing to lose.
You can join in the trial period and upgrade to premium within seven days since it would just cost you $19 for the first month.
Inside the course, you would get a step by step training on how you can start your online business. The course is easy to understand and follow, apart from that, you would be able to get my personal opinion on your websites.
I could help you choose a profitable niche that can make money within 3-6 months. This might sound like a long time to make money, but that is how long it takes for any website to get off the ground.
You need to be consistent and put some effort into making money online. There is no ‘get rich quick’ scheme that works, and if it did, then everyone would be doing it, and no one would waste time working hard.
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If you have any questions about this course, then let me know in the comments below, and I would be happy to help!
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