|text2cash scam or not|
Text2Cash Corporation is said to be the first in the Philippines to use text messaging for advertising. This company is still in pre launch state as of now ( 12/16/2012). Official website: www.mytext2cash.com
The corporation behind this is called Newgen Marketing.
Pay PlanTo join you have to pay 988 Php
Upon joining you are to receive 10 advertisement in your cellphone via text message. Nobody likes to be advertised but you are paid 20 Php so that is not so bad. Until you realize that is all you get, 200 Php return for 1k investment. And in order to be advertised more and get paid you need to recruit! This is where it begins to stink! First 5 recruits you get 5 Valued ad text, 6th-10th you get 7 Valued ad and only after 11th onwards that they will give you 10 Valued ad text.
When you subscribed to them you agree to receive 5-15 ad text (text advertising), The problem is there are two kinds of ad text, first is valued ad text which is worth 20 Php, but you need to reply with the script provided. and the second kind is free ad text which is worthless. This again for me is another abuse of an innocent subscriber not knowing what they are getting into. What if it did took you a long time to recruit someone? Or you are a weak recruiter? Or you decided to quit? They probably will flood your cellphone inbox with annoying worthless advertisement just because you agreed with the terms and condition. Furthermore, even with the Valued text ad you still need to reply the script provided and I doubt if they will shoulder the cost for the reply message. For me its a TRAP!! Don't fall for it!
These kind of systems are making a fool of people which I highly go against. They basically are building a pyramid scheme to grow a member base that ridiculously pays them to be advertised, and they keep 100% of the advertisers money! Poor ignorant people thought that the money is coming from advertisers as what text2cash wants them to believe. But wise individuals will know that the money they will be paying you comes from your own registration fee and from those you recruit. Take note, you will only get 200Php ROI from 1k investment. And there is no way for you to earn but bring them another 1k by recruiting idiots like you.
In my opinion this is the greediest system Ive ever known. Just like adszense and todayadz only in the form of text advertising but the systems are the same. I must admit I made some sucky post but self reviews on companies with these systems are the most self fulfilling on my cause to save people from this pyramid schemes.
They always argue they are not pyramiding and will tell me I do not know what I am talking about or do not even know what pyramiding is.
So why do I consider it a Pyramid scheme?
1. You can only earn if you recruit, If you can not recruit you do not make money.
2.The money they will pay you comes from your own registration fees and from those you recruit still with a lot left that goes to text2cash pocket.
If you don't agree with my definition of a pyramid scheme you can always do your due diligence and research before you decide whom to believe.
Another worst thing is they keep 100% of advertisers money! They make it look like they pay you to be advertised which is a complete deception. The money you will get is from you and your downlines investment with a lot left that will also be going into their pocket!