This is the Definitive WhatsApp Stokvel Review that will help you to save your hard money and stay away from the WhatsApp Stokvel Ponzi Scheme.
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Stay away from Scammers…
I have seen the WhatsApp Stokvel trending on Twitter and other Social Network.
Today I am going to answer the most common questions that always pop up on those Social Networks.
“Is WhatsApp Stokvel Legit and How Does WhatsApp Stokvel Work”?
I have been in the making money industry since 2018.
I have seen it all and scammers are always coming with new strategies to make money out desperate people.
Do not get me wrong…
They are also legit opportunities you can make money by selling products online or doing some micro jobs online.
But when find an opportunity that promises overnight success and there is no product to sale to make money is probably a scam.
Any business opportunity that promises you to make money by recruiting other people you should stay away from it.
I know other programs come with different strategies like investment or python currency and other funny names.
Just ask them a simple question Do I Need To Recruit People To Make Money if the answer is yes. Run!
They are also companies like Longrich, Avon, Amway and Herbalife. Those are big companies with real products that you can sale.
But some of those products are overpriced.
To make money as a distributor of those companies you need to recruit other people to join the business model.
That how those companies make the most of their money.
Recently Herbalife was accused of operating as a Pyramid Scheme by the Federal Trade Commission.
I do not recommend anyone to join such business models.
Stay away from MLM or Network Marketing and any Pyramid Scheme you will waste your time and money.
What is WhatsApp Stokvel?
WhatsApp Skokvel is Pyramid Scheme WhatsApp group with the aim of recruiting other people to join the group for once of a fee that could be R200 to R1000.
There is no product to sale or any kind of investment.
As a member of WhatsApp Stokvel, you will need to recruit people to join the group in order for you to make money.
WhatsApp Stokvels are not registered with NASASA (National Stokvel Association of South Africa)
Those WhatsApp Stokvels are very different from the Traditional Stokvel. The WhatsApp Stokvel is just groups of individual who are operation a Pyramid Scheme.
How does WhatsApp Stokvel work?
A group of people decide to create a WhatsApp group where the admin will be placed at level 1 and the rest of the member will be placed at level 2.
Those members at level 2 will need to recruit other members and they will place them at level 3 depending on Pyramid Matrix the group is using and so on.
Most of the WhatsApp Stokvel has an initial fee of R200 and new member are asked to recruit other 2 members to join the group to earn R1000.
This is where it becomes very suspicious and I think the admin of those groups does not know how the Pyramid scheme works.
Actually, you will need to recruit 5 members to pay R200 for you to get R1000. You can watch this video below to understand how the Pyramid Scheme work.
Did you get it? Pyramid Scheme is about stealing from Paul to pay Peter…
Is WhatsApp Stokvel worth it?
The WhatsApp stokvel is not worth it and it can destroy a good relationship with your friends, colleagues and your family members.
The most targeting people that a member can recruit are people around him/her. But most of the people do not know what they are getting involved.
If someone invited you to a WhatsApp Stokvel and you have not to get your money until know. You are probably being scammed and your friend too.
Your friend also joined the Whatsapp Stokvel as much as it sounded too good to you.
Before you join any program that seems too good to be true you always need to do your due diligence otherwise you will be falling for a lot of scams.
If you are looking for a way to make some extra cash you can do some micro job online on the website like Surveytime.io and Timebucks.com
Those are the free websites to join and they very legit website to complete surveys and other online tasks.
But do not expect to earn a lot of money or quitting your job with those websites.
If you are looking for a way to make a lot of money online even quitting your 9 to 5 job and you are willing to commit and put some work in.
You can check out My Top Recommendation and learn how to build a stream of income online with your laptop and internet connection.
Why you should NOT join WhatsApp Stokvel
First of all the WhatsApp Stokvel are not registered with NASASA and it is not a traditional Stokvel.
Those WhatsApp Stokvels are working as a pyramid scheme and Pyramid Scheme is illegal in South Africa.
If you are a member or the admin of any WhatsApp Stokvel you are doing a criminal activity without knowing.
Stay away from trouble.
A traditional Stokvel is also not a business model is the pooled saving scheme where a group of people join and set an amount of money that they will contribute every month.
Let say a Stokvel has 10 members and decide to contribute R500 each every month.
The group will be having R5,000 every month and they will decide which member need to be given the money first and which one will get last.
In order word, you will be saving R500 every month and in 10 months you will be having R5,000. But the Stokvel help to get the R5000 fast depend on when you want the fund.
Stokvel is not investment or business model is just a saving scheme.
Therefore, if you want to start a business that does not have anything to do with a pyramid scheme or recruiting people.
You can check out My Top Recommendation and learn how you can build an online business and earn passive income online.
Is WhatsApp Stokvel legit? Is it a scam?
WhatsApp Stokvel is a pyramid scheme and a pyramid scheme is illegal in South Africa.
So to answer your question yes WhatsApp Stokvel is a scam and you will need to stay away from such activity.
I know is very hard right now in South Africa due to the high rate of unemployment and those scammers know that people desperately in need money.
They will come with new strategies or promise a get rich quick scheme just to make money out of you.
Do your due diligence before you jump in any money-making program.
Do not trust anyone!
If you want to learn some tips and how to build your online business or become freelance and earn some extra cash.
You can subscribe to My YouTube Channel for more tips and training.
Better alternatives to WhatsApp Stokvel
The table below is the legit way to make some extra income without investing any money and the best alternative to WhatsApp Stokvel.
You can complete some micro job online and get a reward for your time.
But those websites do not pay much.
| Name | Earning | Website |
|---|---|---|
| SurveyTime | $3 to $5 per hours | Surveytime.io |
| Timebucks | $2 to $4 per hours | Timebucks.com |
| Ysense | $2 to $3.5 per Hours | ysense.com |
| Swagbucks | $2 To $3 per hours | Swagbucks.com |
| Paidviewpoint | $1.5 To $3 per hours | Paidviewpoint.com |
The combination of those websites you can make something every day. All you need is to register with those websites and start completing surveys online.
Do not forget to check also My Top Recommendation and learn how to start your online business and make passive income online.
Final Verdict
I have been online for a long time and I always follow all the trend so I can write articles or reviews in this making money online industry.
The WhatsApp Stokvel was trending on Twitter and most of those people who join this pyramid scheme lost their money.
Longrich, Crowd1 and others MLM or Network Marketing they also trended before and what happened next? You know the story…
Guys any program that promised you to make money by recruiting other people you will need to stay away.
It is just a Ponzi scheme and it will destroy your relationship with other people you are trying to recruit.
Save your money…
When the program still new people on the upline make money.
The more member recruits other members it becomes harder to recruit other members to join and the pyramid will end up falling and people on the downline lost money.
Therefore, if you are looking for a legit way to make money without recruiting people. You can subscribe to My Youtube Channel for tips on how to build your online business.
You can also check out My Top Recommendation and learn the 4 proven steps to make money online
Your WhatsApp Stokvel Review
Have you been a victim of this WhatsApp Stokvel or you know someone? Please consider leaving your comment below – good or bad – does not matter so long as it is helpful to our visitors.
Thanks for your support!