Today’s post is a review on Vrend, a recently launched marketing platform that promises to enrich its users in bitcoin.
Vrend claims to provide the public with the opportunity to accumulate bitcoin especially for those that missed it when the coin was cheap.
Can Vrend really make you rich in bitcoin? Is this platform legit?
I did my research on Vrend and I have shared my findings here.
By the time you are done reading, you will have answers to the above questions and know your next line of action.
Let’s jump right in!
This review is divided into the following subheadings:
- Vrend Overview
- How Does Vrend Work?
- Vrend BTC, Vrend TRON & Vrend Gold
- How Do I Earn From Vrend?
- Is Vrend Legit?
A click on any item above will reveal its details.
Enjoy your read!
1. Vrend Overview
Vrend is a marketing platform designed to help people raise money for themselves or their businesses.
There is no information on the founders of the platform on its website but judging from its registration details on whois.com, they are most likely to be Nigerians.
It also appears like the platform was launched in July 2020.
This platform claims to pay users daily even when they don’t carry out any tasks.
Join me in the next section to see how it happens.
2. How Does Vrend Work?
The modus operandi here is very straight forward.
All there is to do, is to register and then start earning.
Registration on the platform is not free. It costs 0.000472BTC.
You can pay directly from your Bitcoin wallet or via bank transfer (i.e. the fee equivalent in fiat).
Also, you will be required to provide your bitcoin wallet address or local bank account details during registration.
That is where your earnings will be paid.
Before you can register, you have to contact a coupon vendor, who will give you the bank account or wallet address where you will pay your registration fee.
Once your payment is confirmed, the vendor will give you a coupon code with which you can complete your registration.
When Vrend started, it had only one package – Vrend BTC but now, there is Vrend TRON and Vrend GOLD.
I explained these packages in the next section.
3. Vrend BTC, Vrend TRON, and Vrend Gold
These are the 3 packages of Vrend.
Vrend BTC, Vrend TRON, and Vrend Gold are tagged level 1, level 2, and level 3 respectively.
They all work in the same way except that transactions are made in different currencies.
Users register for the 3 packages at a particular fee and earn from the available options.
Vrend BTC or Level 1
This is the first package of Vrend and bitcoin is the accepted cryptocurrency.
The registration fee is 0.000472 BTC and users can earn from Direct Referral Bonus (D.R.B) and spillovers.
Vrend TRON or Level 2
Vrend TRON was launched two months after Level 1.
Here, the supported cryptocurrency is TRON.
The registration fee is 200 TRX. Users can earn from D.R.B, spillovers, and spinning.
Vrend Gold or Level 3
Vrend Gold launched barely a month ago. The major currency used here is USD.
Here, users can earn from D.R.B, spillovers, spinning, Wingo, sponsored ads, and Referral contest leaderboard.
According to one of the coupon vendors I contacted, registration has stopped for Vrend BTC but users are still earning there.
Registration is still ongoing in the other two packages but may end in Vrend TRON soon.
And users can upgrade from Vrend BTC to the other packages.
In the next section, I explained the different earning options mentioned above.
4. How Do I Earn From Vrend?
The different ways users earn from the Vrend platform are:
- Direct Referral Bonus (D.R.B)
- Sponsored Ads
- Referral Contest Leaderboard
Direct Referral Bonus (D.R.B)
This is the payment users receive for referring people to the platform.
The payment is made instantly. And there is no limit to the number of referrals a user can make.
For level 1, the D.R.B is 0.0002359 BTC. It is 99 TRX for level 2, and 5 USD for level 3.
This refers to an automatic payment that users receive from the platform.
It does not matter who referred who or who didn’t refer anyone at all, everyone gets paid.
The spillovers are gathered from uplines and downlines and distributed to all.
How much you get paid from spillovers or what determines how many times you get paid daily was not specified.
Users can receive 0.000023 BTC 1 to 10 times daily from level 1, 7 TRX from level 2, and 0.375 USD twice daily from level 3.
In spinning, users stake some of their earnings and stand a chance to win $1, $2.5, or $3 in Vrend Gold.
For Vrend TRON, users can win up to 70 TRX when they spin 5 TRX.
Wingo is a color betting system with 3 colors. Users are to choose a particular color and then stake an amount.
If they are lucky and pick the winning color, they will receive 3 times whatever they stake.
Users that share sponsored ads from the platform’s site on social media are rewarded with $0.375. This payment is made at least thrice a week.
Referral Contest Leaderboard
Those that make it to the top 10 in the Referral Contest Leaderboard list get rewarded as well i.e. those that refer the most people.
The reward here is not specified.
Furthermore, users can withdraw their earnings (any amount) at any time into their wallets or local bank accounts.
Withdrawal requests usually take 24 to 48 hours to be processed.
In the table below, I summarized how users earn from the 3 packages:
Moving on, we’ll see how legit this platform is.
5. Is Vrend Legit?
Vrend seems profitable. For one thing, users have total control over their money and they can make withdrawals at any time.
Plus, they receive bonuses daily whether they refer people or not.
That notwithstanding, I do not think the platform is legit. Below are my reasons why:
i. Unknown Founders
The founders are not known and as such, there is no one to be held accountable when things go wrong.
I sent a query to their official mailbox and never got a response. Also, I didn’t get a reply to the message I sent to the phone number I found on VGold as the admin.
Obviously, these guys are in hiding. And that is a red flag.
ii. No External Source Of Revenue
Secondly, the only source of revenue for the system is registration fees from new recruitment.
Thus, when recruitment slows down, the system will lack funds to pay users’ rewards.
Users may not lose their money but they will stop earning.
iii. We Do Not Know How The Rewards Come About
Again, the rewards the system claims to give users appears to be a joke.
Think about it, spillovers are supposedly from downlines and uplines but we don’t know how they are generated.
We were not also told at what rate the spillovers will be distributed.
When it comes to the rewards for other activities like sponsored ads, spinning, Wingo, we only find some figures.
We don’t know how these figures were computed. Even the reward for the referral leaderboard was not specified.
How do we even know that there will be rewards? Or, are they mere schemes to lure new investors?
iv. No Testimonials
Lastly, I didn’t see any testimonials of users who have earned from the platform online.
I mean, the platform has been up since July 2020, and this is November 2020. Out of the 8,916 users on Vrend BTC, 9,283 on Vrend TRON, and 4,160 on Vrend Gold, no one has earned enough to give a public review?
The Coupon vendor I contacted claims to have earned a 96% ROI in less than one month.
But I can’t bank on that since I found him on the platform. He’s probably trying to give Vrend the best image.
Besides, who makes 96% ROI in less than one month from a legit business?
Where Does This Leave Us?
From where I stand, investing in Vrend is more of a trial and error.
Users register and hope to get rewards from the available means on the platform.
There is no proof that payments are made.
And considering that the system seems to upload a new version every two months, investing in this platform maybe just a waste of time.
Because while you are trying to earn from Vrend BTC, the system upgrades to TRON and so on.
I wouldn’t invest in this platform if I were you.
Vrend promised to make people rich in Bitcoin. Later, It was Tron. And while we were still trying to lay hold on that, they switched to USD.
Who knows what it will be by next month (LOL).
I have said all that is on my mind. Now, it’s your turn:
What do you think of this platform? Do you think it is legit?
Which currency do you suspect they will go for next?
Let me hear your thoughts in the comments section right now.
Also, share this post with your friends, thank you!
If you want to learn how to trade cryptocurrencies profitably, then enroll in our Cryptocurrency Mastery Course by going to www.ctmastery.com. You can also join our Telegram community at https://t.me/ctmastery