In this honest CrowdyLoan review, you will know if crowdy loan is legit or pure scam in 2021.
Nigerians have found different means to make money online. There are various online income streams like sports betting, online investments, news reading, blogging, and many others.
As time went on, other streams began to show up. You can hardly find anyone with a smartphone who is not making any money online. Almost everyone has turned into online fund miners.
A lot of websites have been created to also help Nigerians in making money for themselves online.
However, just a few out of this increasing number are legit. Many of them are scam projects.
Recently, a new stream of making money online was introduced, and a lot of Nigerians are keying into it.
It is known as Peer-to-peer lending. Just as the name implies, it involves the lending of funds online.
If you are reading this, you must have heard of the newly launched Peer-to-peer lending platform known as CrowdyLoan.
CrowdyLoan is a platform where members loan each other funds in return for a commission.
To become a member of CrowdyLoan, you must pay a sum of N1,000.
CrowdyLoan claims that members can earn up to N160,000 in just one month of membership from your N1,000.
How possible is that? You will know here. Let’s see how the CrowdyLoan Platform works and how you can be a member if you want to. You will also know if the project is legit or a big scam.
CrowdyLoan Review 2021
According to CrowdyLoan, you can make up to N160,000 in just one month from your one-time payment of N1,000, by moving from level to level.
These levels determine your earnings on the platform.
There are six lending levels on CrowdyLoan. All members are required to start from Level 1.
As a new member, you can not jump to higher levels without going through Level 1.
Let’s see the various lending levels in CrowdyLoan and each level involves.
Level 1: For this level, you have to give a loan of N1,000 and you will receive N5,000 in 5 minutes.
Level 2: For this level, you have to give a loan of N5,000 and you will receive N10,000 in 2 days.
Level 3: For this level, you have to give a loan of N10,000 and you will receive N20,000 in 4 days.
Level 4: For this level, you have to give a loan of N20,000 and you will receive N40,000 in 6 days.
Level 5: For this level, you have to give a loan of N40,000 and you will receive N80,000 in 8 days.
Level 6: For this level, you have to give a loan of N80,000 and you will receive N160,000 in 10 days.
Putting all these figures together, you will make a total of N160,000 in 30 days from your one-time investment of N1,000. Let’s get to see how you can get started on CrowdyLoan.
When was CrowdyLoan launched?
I do not have an exact idea of when this peer-to-peer lending platform called CrowdyLoan was launched but from my research, it might have been launched in the early months of 2021.
This means it has already lasted some months and might not be safe to venture into again. Be wise with your money!
How much do I need to join CrowdyLoan?
Like I mentioned earlier, you need just a sum of N1,000 to get started on CrowdyLoan. You don’t need to break the bank to be a verified member on CrowdyLoan.
How much can I make from CrowdyLoan in a month?
You can make as much as N160,000 on CrowdyLoan in a month, and multiples of it later. This is just with your payment of N1,000 at the start.
How to get started on CrowdyLoan?
To get up and running on CrowdyLoan, you have to follow three steps and it’s all done. I will mention these steps here and how to go about them.
1. Create your CrowdyLoan Account.
First of all, you have to visit the CrowdyLoan website and create or register a new account. You will be asked to provide some details or information about yourself.
Next, you will be told to verify some information you must have provided such as your phone number and email address.
This is necessary to verify your CrowdyLoan Account/profile. After doing this, you can proceed to the next step.
2. Activate your CrowdyLoan.com Account with N1,000.
Next, you have to activate your verified account with a token of N1,000. This N1,000 will be used as a loan for another member who needs it.
So, you will be merged with any member who needs it.
3. Receive N5,000 in 5 minutes.
Once your payment to the other member has been approved, you will be given N5,000 within 5 minutes. After making withdrawals, you can choose to upgrade or not. It is up to you.
Is CrowdyLoan Scam or Legit?
Truth be told, whatever looks too good to be true ends up being a scam. CrowdyLoan is one of those.
The levels are too enticing and might end up crashing soon.
CrowdyLoan claims you can make N160,000 from N1,000 in 30 days by just lending other members money on the platform.
Come to think of this, what if no one wants to borrow money, how will you make money as a lender on the platform?
That aside, CrowdyLoan claims you will get N5,000 by just lending N1,000 in 5 minutes. That does not sound possible at all.
Where will the N5,000 come from? If this is possible, then it is safe to say that CrowdyLoan is a Ponzi scheme.
You should know by now that Ponzi schemes don’t last unless new members keep coming in.
If there are no new members, there won’t be funds to pay older members and this will result in the crashing of the scheme.
I cannot call CrowdyLoan scam yet, neither can I assure you it’s legit because
I’ve not heard of any bad crowdyloan reviews or payment alerts. If I have seen any of these, it’ll be safer to support if it’s legit or a scam.
However, if you feel okay to lose N1,000, then you can venture into the CrowdyLoan program.
But, if you can’t bear the loss of N1,000, don’t bother going in at all. That is why you are always advised to invest what you can afford to lose.
From the look of things, CrowdyLoan might not even last as long as many other Ponzi schemes last.
The rewards are too enticing and might trigger suspicion in many investors causing them to stay back. This will cause the downfall.
How many Lending levels are available on CrowdyLoan?
There are six levels available on the CrowdyLoan platform. A summary of what they entail will be given below;
Level 1: Lend N1,000 and receive N5,000 in 5 minutes.
Level 2: Lend N5,000 and receive N10,000 in 2 days.
Level 3: Lend N10,000 and receive N20,000 in 4 days.
Level 4: Lend N20,000 and receive N40,000 in 6 days.
Level 5: Lend N40,000 and receive N80,000 in 8 days.
Level 6: Lend N80,000 and receive N160,000 in 10 days.
Is it still safe to join CrowdyLoan?
If you are very familiar with online platforms, you will know that earlier investors tend to benefit more from them than later investors.
Most of these platforms are built on Ponzi schemes so the pioneers benefit more.
CrowdyLoan has been launched over some months now and I don’t think it is still advisable to go into it for now.
This does not mean you shouldn’t register if you are convinced too. It is just advice.
Who do I pay my N1,000 registration fee to?
You will be merged with another member who you will lend N1,000 and receive N5,000 in 5 minutes.
How does CrowdyLoan make their own money?
This question still seems like a mystery to me. A platform that claims to help others make money online does not make money for itself.
Again, CrowdyLoan claims to pay a referral bonus of 10% when your referral lends money on the platform.
Where are all these funds gotten from? It all seems like a mystery. Don’t think too far.
There are no means of income for the owners of CrowdyLoan. This should give you a clue into what they plan on doing someday.
Platforms like this end up running away with the funds of members.
If this eventually happens, members won’t even be able to sue the owners because CrowdyLoan does not have a page for terms and conditions. There are no terms and conditions on the website.
Since members have registered without seeing the terms and conditions, they have indirectly agreed to take responsibility for whatever happens to their hard-earned money.