Without a doubt, Gemneon.io is a scam. Yes, we agree that it may pay a few members but that doesn’t make its business model legal or sustainable. It will stop paying sooner or later due to which majority of members will lose their money. Why? Well, let’s find out the answer in detail through our Gemneon review here.
Why is a
Gemneon a scam?
Gemneon is a scam due to the following reasons:-
# Gemneon.io is a Ponzi Scheme which is neither a legal nor a sustainable scheme. Legal authorities have already warned the general public to stay out of the Ponzi scheme due to its unsustainable nature. The majority of members will lose their money in Ponzi scheme and only a few ones who join the system at first will make some few bucks due to which you will find out some few people who promote and support some Ponzi schemes.
# We can say Gemneon is a Ponzi scheme because it doesn’t have any real source of income to pay profit to its members. It claims to pay up to 9% daily profit forever on the investment amount of members by using the money of members in trading. However, it hasn’t mentioned what kind of trading and even it has failed to provide the proof of its so-called trading which proves it doesn’t have any real source of income and only can pay members by routing the money between the members which is not a sustainable business.
# All the Ponzi schemes like Gemneon.io trick people by showing the real payment proofs because they pay few members at starting by routing the money between the members so that they can lure more people into their scheme by showing those payment proofs. However, it is practically not possible to pay all members in that way because when they pay one member, they need to use the money invested by other two members so that they can pay the principle and profit to that one member. But, whenever they pay members in that way, they will create a debt equal to the amount of profit that they use to pay the members. So, even Ponzi schemes like Gemneon want to pay all members they can’t because day by day the debt will be kept on increasing and they will not have enough fund to pay all members. That’s why Ponzi schemes like
# Gemneon.io has tried to trick people by showing the company’s registration document registered from Hong Kong. But, don’t fall for that trick. Lots of Ponzi schemes in the past have already turned into scams which were registered from Hong Kong. Actually, it is very easy to register a company in Hong Kong by providing the virtual address which you can rent from the virtual address provider services as well as by providing the third person identities. Even you can register a company in Hong Kong without a big hassle. On top of that, such kind of registration is not the license to run an investment company like
# Gemneon.io also operates another illegal scheme known as a Pyramid scheme because any company which pays the referral commission up to multi-level downlines without selling any real products or services is known as a Pyramid scheme. Gemneon.io is also claiming to pay referral commission up to 3 level downlines but without selling any real products or services, just on the sales of its Ponzi ROI plans. So, this makes Gemneon.io a Pyramid scheme as well.
Now you know that Gemneon is a combination of two illegal schemes which are Ponzi and Pyramid schemes. So, Gemneon.io is a fraudulent website. That’s why we have listed Gemneon within our “Scams” category. So, in this situation, we don’t recommend you to invest in
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I lost my bitcoin on Gemneon.io
Ponzi schemes are always like that. You never know when they stop paying.