Another Crypto Scam or a Legit MLM Offer.
These seem to be popping up all over the place. I have been looking into iHub Global Crypto Hotspots MLM. On the surface, it looks legit. A relatively new company with a great plan, but there are some old hands with a checkered history at the Helm.
Let/s find out what the go is, and whether it is a scam or a legit offer.
Who owns iHub Global
iHub Global’s Official Launch Event in Las Vegas in mid-2021 (Apparently the price of Helium Crypto rose on the news).
In a typical glittering MLM launch (with a small live audience, but a larger digital audience), featuring the founders, we find out who is behind iHub Global.
|Chuck Hansen||A consultant who joined Valentus in 2018. See more here.|
|Rick Cotton||CEO and Co-founder of eXfuze now known as KZ1. He and Chuck Hansen are the faces behind iHub Global|
|Dan Stammen||( CEO of World Ventures)|
|Michael Stern||so far as I can find, he has been involved in a real estate business called One Corp Global.|
|Steve Brumer||(CEO of BH IoT Group), The “godfather” of iot solutions, who also provides financial backing.|
|Josh Cox||Head CEO of Oxit. A tech firm based in North Carolina.|
|Frazer Brookes||“Social Media MLM King“|
|Plus||Other “successful 7 figure luminaries,”salespeople, tech people, support staff, and a couple of well-dressed women drawing out tickets for the lucky door prize. A crypto hotspot set.|
These seem to be the main players.
The video had all the usual fanfare of an MLM launch, but it also featured a serious segment on compliance.
Some of the guys running the business have had a checkered history with MLM businesses over the years.
World Ventures had its share of turmoil over the years, before crumbling under covid restrictions and joining forces with a skin care company to remain viable.
One thing that can be said about them though, is they know how to put a business plan together.
Overall they paint a vision for the future, where the members/affiliates will be paid with Helium crypto.
Whether or not it will be a sustainable business, only time will tell. But the plan sounds like a winner… if the price of cyrpto keeps heading North.
What does iHub Global do?
At the moment not a lot. The plan is to build a network of hotspots, starting in the USA
I got a little lost in the presentation video, when a couple of guys were talking about the internet of things and smart apps, selling them to restaurants to alert them if their refrigerator goes on the blink.
However I am sure there is a method to this, and it will somehow link to a hotspot, which mines Helium crypto.
iHub Global has “partnered” with Coinzoom, so any earnings made by members will be held in a Coinzoom account.
You will need to set up an account obviously.
By partnering with legitimate companies like Oxit, Coinzoom, and BH IoT Group, iHub Global has made all the right moves to support its business model and for future expansion.
Oxit, Coionzoom et; el: are all established, legitimate companies, that produce legitimate products or offer legitimate services. The fact that they were at the launch, means they should have a complete understanding of what iHub is about and are happy to support it.
Plans for the Future
Update: 16/April 2022.
With 10,000 units in use in the US, they have begun rolling the program out in Canada.
In the video’s official launch, iHub detailed plans for health and education, as well as the customary kid’s charity, common to many MLMs, and mainstream corporations too.
These topics were given a detailed overview and provided a lot of substance to iHub’s overall business plan.
At the time of writing some of these are still in the planning stages, although they seem to be well advanced in their development.
These are not new, telehealth, and education have been around for a while.
The plan is to launch an alternative to these and other services, such as travel, and financial services, using iHub’s iot technology.
With the exception of Coinzoom, the other companies involved are by no means large companies.
How they manage growth ( if their plan succeeds), and avoid any supply chain issues, could be one issue a little further down the track.
They have been working with iHub for over 12 months now, so they should know the current state of the economy and have taken the necessary steps to create a Plan “B“
For now, iHub is only issuing devices in the USA and began rolling out in Canada this week (mentioned above).
So, this is the testing point. If all goes well then the expansion will take place in planned stages.
Of course, all this will cost money.
So, while they talk about a people’s network, We will see how much people are going to be asked to fork out for this a little further down.
Training offered by iHub Global.
From what I have seen there is plenty, and it is relevant in getting to understand the Helium track app and other aspects of the business.
They show which antenna you should purchase, and of course, an overview of the opportunity and get started with it.
There are regular zoom meetings and training videos available, along with updates on products or business expansion.
Probably the one thing that would interest most people would be the explanation of the compensation plan. It is over my head, but there is a link below.
If you want the inside info you can click HERE, work your way to the training videos, and look for the video on the compensation plan.
The video is not public and can’t be embedded here. Signing up is free and quite simple if you have to do it.
Cost to Join iHub Global
As per the screenshot above, there is a $99.00 application fee. Then $18.00 p/mth.to lease the hotspot or a $400.00 deposit, which includes the voucher for the antenna.
Then there is the Helium tracker, for keeping track of your Helium hotspots and optimizing your locations.
This costs $9.99 p/mth. for the starter version and $39.00 p/mth. for the Pro version.
You can join as an affiliate for Nothing. You will probably make the same amount as it cost you to become one.
That’s the way I see it anyway.
Nothing is going to happen unless some money starts rolling in.
At the moment it is only available in the USA.
Still, at least those of us outside the USA, get to watch how it unfolds.
When ordering a hotspot you will be encouraged to watch some training on how to select an antenna, before applying for a voucher.
Then (if you are in the USA), you can apply for your voucher.
You must watch the training video first before you order. Once you order, a voucher number will be issued so you have a record.
Is iHub Global legit? From what I have seen, yes. Like the majority of MLMs, the front end of the business is reasonably sound.
The problems with many MLMs is generally arise a little later further down the line when they cannot keep their promises for whatever reason, logistics, internal bickering within management, etc.
Check out this article on Dagcoin, another crypto MLM with a very shady past.
In February they will be unveiling new opportunities for iHub members to earn, and a live stream event will take place on the 24th of February.
Coinzoom will be giving away $1,000 of Helium crypto coin to 25 “lucky” iHub members at this webinar as well.
Also, from the last week of January, they will be re-launching the Coinzoom sign-up process so those who join can be paid with Helium crypto.
So, it is all looking like a plan coming together.
Sort of like a telco cum app developer, cum crypto miner.
Update. March 2/2022.
Just saw an ad in one of the MLM f/b groups for iHub global.
Plug this box in and make on average $125 a month on autopilot HELIUM MINER BOX SHIPPED TO YOUR DOOR. We have a limited number of these boxes available for qualified locations. Simple set up. Just plug the box in, connect to WIFI and start mining the Helium. Simple instructions included. Currently Helium is priced at $40.00+ a coin and can be converted to cash instantly. Your box will mine 2 – 50+ coins a month depending on your location. If your location qualifies your miner will be mailed to you, and I will be in touch. Only 1 miner can be deployed within a 1/2 mile radius, so your address will only be rejected if your neighbor already has their minor reserved. First come, first serve, so don’t procrastinate. Just $99 down and then a month-to-month lease payment of $18. You will make profits.Ad on F/B. See comments below.
Very low-key ad promising not much. A 1/2 mile radius is not a big area, and you might think it is not worth the effort.
From what I understand, your half-mile radius will form part of a chain they use to draw power for mining. Not necessarily relying on someone in the area actually mining.
You would need to clarify this before signing up.
Does it sound too good to be true?
Maybe… but they are putting the pieces together and the concept seems legit.
The costs to become involved are reasonable, but, the potential returns to the average member seem very modest.
Even for an MLM.
Worse, as mentioned in the comments below, if the price of Helium goes through the floor, it will cost you. Still…
In these inflationary times, every dollar helps but put in some effort, and the returns could skyrocket.
Remember there is a bigger picture at play here as well. (INMHO).
China has clamped down on crypto miners. One of the reasons (given), is the amount of power (bandwidth), needed to generate new crypto.
Russia has followed suit and is trying to shut down crypto.
Personally, I think it is more to do with political power, rather than power generation.
Let’s face it, it is nearly impossible for politicians / central banks to manipulate crypto the way they manipulate interest rates and Gold.
Whatever, it opens up a new opportunity for those of us outside of those countries.
By having these hotspots, crypto miners (in this case Helium), is able to source the power they need from millions of hotspots around the country.
As usual, the devil is in the detail, and it will be interesting to see how iHub Global products compare with existing apps offering similar services.
That can be an article at a later date.
People put solar panels on their roofs to offset the cost of power, and maybe receive a rebate from the power company if they had excess power, which the power company paid them for.
Having a hotspot device in your home and earning enough crypto to pay for the lease of the hardware, might work for you.
Expanding on that, and earning a little more from other hotspots should put a smile on your dial.
If Helium crypto rises like Bitcoin, then you are off to the races. Big time.
But it is a Punt… Given the geopolitical situation at the moment (mid-April’ 22).
It is up to you to decide if the risk / reward is worth it.
I have my doubts.
Thanks for reading.