Business Name: SmashFund
Website Address: www.smashfund.com
Owner: Rob Towles
Price: Free for now but $149 a month from July
Overall ranking: 30 out of 100
SmashFund Scam Review – Introduction:
Crowdfunding… Is this the new scam norm? Since the general public has become more aware of the means most scams are using to get people illegally to dish out their money to them, a new path had to be invented. And the escape that has been deemed fit for this task is the crowdfunding and social networking stuff among many others.
Is this taking kindness for weakness? I would suppose. Since crowdfunding has something to with funding of many people towards a common goal, it is very unpleasant to see scams taking advantage of this method to benefit needy people to make themselves rich.
The fact that this is the online world, where anything goes, you should keep your eyes peeled for anything. Smashfund is the new gig that promises to outwit Twitter in months after its launch. It claims to exploit its fullest potential to go above and beyond Facebook and set the new bar even higher.
But are their early signs making any signals towards that direction? Do they sure have that ability to make their claims a sounding reality?
We only have to look at its initial buds to know whether the sprouting is any nearer…
So let’s catch a glimpse of it!
Tired of Scams?
What is SmashFund?
This is a new program that came to being just recently with its owner having extremely high expectations of it. It works with the crowdfunding and social networking skeleton where it is supposedly meant to pay people who invite others there and get them to work together and help each other to achieve their goals.
Well, this is kindness at first, but wait till you get into the site. Before we get deep into things here, if you are not familiar with term “crowdfunding”, it basically means an internet strategy where many people contribute to the same pool to fund a common goal.
The engineer behind this scheme is Rob Towles, who has been heard with other like stories as this current one. Firstly, he made Efusjon, a pyramid scheme which rewarded him with a lawsuit which still has persisted up to date. Later on, he tried the MLM industry by creating lab active, which is still struggling to get on its feet.
Ideally, you can see that Rob hasn’t been that successful online, but it’s worth giving it a third shot. SmashFund has great potential if fully exploited. With the social network and crowdfunding strategy set to use, if honestly pushed can bring some revenue.
How Does it Work?
The idea of operation in this site is that you will have to join and then get yourself an invitation link which should help you invite members into the program and then get paid $50 for every single one of it. This method is claimed to be worth $64,000 monthly for you if you can manage to work it out well with just 16,000 connections, keeping in mind you get paid $4 for every viral connection you make apart from the $50 you get for the personal connection you initiate.
Although, you need to note that this hasn’t come to play. What you are getting now is just some anticipation for the site. When you join the site right now, you are only going to get an invitation link for you to make invitations, other than that, is the billing information.
Here, you are required to feed in your credit card details to “keep you packed for payments” This website is set to launch early in July. Rob suggests that you take advantage of this opportunity while it’s still free and complete the complete registration before July as they are going to reward the people who made early registrations.
Who is SmashFund For?
Towles and his affiliates go ahead and make claims that this is the best fit for everyone who wants to make quick money off their regular monthly paycheck to boost their general income. Anyone who’s got the knack for making friends and ‘funding the crowd’ can fully benefit from it.
But is this true? Going by what we have on our table now, this is close to impossible. The website doesn’t have the social network platform they claim going to beat Facebook, there are no places to create your profile, no profile photos, there’s nothing except for the invitation code talked about earlier on the post.
So basically, this program can be deemed best for social networking affiliates who think they can get anything from it, and of course, any other person who’s willing to risk his credit card for some pie he’s to eat a month to come.
What is Included in the Product?
In the members area, there is nothing to work on. The only provisions there are in the dashboard are the indications of the number of your connections and the daily funding. From there, you can also see the viral and personal connections you have made and how much they’ve paid you. And that’s pretty much it!
Something that seems to be prevalent almost everywhere is the “COMING SOON” statement. I guess this is to show people that something is happening behind the curtains, which is yet to be revealed in July, till then, you can only invite friends.
The compensation plan for this site is almost never heard of. They pay you $50 for every referral you make into the site. From there, the one you have invited makes $50 as well for each successful invitation, and it goes on like that. Now once a member, you are paid $4 for every viral connection you make with your social network friends and also $50 for every personal connection.
Ideally, it shows that almost any move you make on the site is worth some payment. This is very encouraging, and if it really were to work that way, it would surely beat Facebook regarding the operation.
The Pros and Cons:
• The site’s background photo is attractive. That’s all that can be said about its pros.
• Your credit card details are asked as you fill out your registration form, yet the company has not started operating. A member once addressed this credit card issue to the site’s support staff and got the reply of “we are doing to this to help people set up their accounts and start building the community” and come to think of it, this reason is just so lame.
• Once you give your billing information to the site, there’s no way you can change or stop the billing. And if you think of contacting the staff, you’ll be told that the said provision is coming soon, as always. And this doesn’t mean they don’t have the power to interfere with your card, they sure do!
• Crowdfunding is extremely hard to use to make any referrals. It’s really hard to convince people to join and give their credit card information too without anything of substance in return. This means that it can take up to a year or more before you make five referrals.
• Rob Towles’ past program was an epic fail. The MLM program he launched is still on the grass; nothing much has come of it. Will SmashFund be any different? It doesn’t have exposure, and its owner is not reputable. This raises so much suspicion as to its potential and value.
• Paying $149 every month for a social crowdfunding network is just not worth it. This strategy can take years, even decades before you start making income with the investments you have to make. The program, based on its value, has been extremely overpriced.
• Facebook and Twitter don’t ask people to pay to create their account, SmashFund does. Is it claiming to outdo both the most reputable social media sites in the world? Does that even add up? What Rob is doing, is just keeping us in the sky with his Ponzi scheme, getting us to buy into his hype.
• If the program is paying $4 for every viral connection and $50 for personal connection, it means that the company will be gathering up losses every month.
• Take an example of a very ‘socially active’ guy who likes having as much as 300 viral connections and can make up to three connections in a week (although near impossible, let’s just work with it). This means that he will be getting $1,200 for viral and $150 for personal connection. This is almost ten times the monthly payment. If there can be a hundred of such people, this is a monthly smashing loss for SmashFund.
• Many affiliates of the site are lying to the public and posting false screenshots of cheques and PayPal account claiming that the program has started paying people, to lure them into joining. Be aware! The site has not started operating! So it is very hard to pay people for something that’s not happening. Be alert for these scam affiliates who want to take advantage of you.
So much can be said about SmashFund! There are quite a lot of pointers towards the scam path while still so many towards a genuine perfect plan. Personally, I think I wouldn’t call it the SmashFund scam yet until I saw it operating and doing contrary to what it promised.
So for now, we can leave it at that, and wait for it to launch and start working. Though, I would highly suggest that people don’t join it until it is fully launched and has begun operating. This is because you’ll just be putting your credit card in the risk of fraud if the company fails to launch.
Overall ranking: 18 out of 100
Owner: Rob Towles
Price: Free for now but $149 a month from July
Recommendation: Don’t join, at least not now. Owner claims to make it fully functional in July. Don’t commit to it presently as it’s not in operation. Let’s first wait and see what happens.
Want something you’ll be doing in the meantime? Before it launches? Want to make a business from your passion and earn monthly to share your thoughts and opinions with the world? Click here to see my #1 social entrepreneur hangout.