As 7K Metals is getting a lot of attention lately, many people want to know if 7K Metals a scam. And that’s the information we will share with you in this article. We will take an in-depth look at the company and what it has to offer. So, let’s begin.
What is 7K Metals?
Even at first glance, 7K Metals’ website does not look trustworthy. We were unable to find any information about the company. Who is the founder or owner of 7K Metals? Where is the company located? We had no chance but to look elsewhere to find information. As it turned out, 7K Metals is a multi-level-marketing company. But is it legit?
Further, the website of this company looks like an ordinary website where people can purchase silver and gold at better prices. On the other hand, as this is an MLM company, people can also earn money by promoting and reselling products as well as recruiting people. Moreover, for each recruited person, the affiliate receives a commission.
However, the information so far is enough to drive people away from this company. Are you wondering why? Well, typically, only 1% of all MLM companies proves to be a legit business. So, what do you think? Is this company legit? Is it trustworthy? Given the fact that there is absolutely no information on their website about who runs the company, we would suggest that 7K Metals is simply another scam. However, let’s give them the benefit of the doubt and take a look at what else we were able to find out regarding this company.
How does 7K Metals Work?
The names Zach Davis, Richard Hansen, and Josh Anderson are associated with this company. Moreover, according to many sources, these three are the founders of 7K Metals. Further, previously on their website, people could read the following words:
❝ We created 7K Metals to improve the lives of people around the world. You might feel the way we used to. We always felt it was important to own precious metals but didn’t really understand why until now…❞
How can you improve the lives of people around the world by selling them precious metals? How will people make money if they become members of 7K Metals? Unlike other MLM companies, with 7K Metals, you need to become a member before you can purchase anything. However, to become a member, you first need to know or at least find an Associate who will refer you to the site.
Furthermore, are there any actual retail sales? From what we were able to observe, 7K Metals depends entirely on the Affiliate program. In other words, they are promoting more the membership rather than their products. In fact, the membership is how they make money. Do you still think it would be wise to invest your money in this company?
Well, here’s something else. As we mentioned earlier, you need to know an Associate to become a member. However, after you sign up, you cannot immediately purchase any precious metals. First, you will have to pay a membership fee. So, so far, you have two main vital requirements.
- You need to find an Associate who can refer you to the site
- You need to pay a membership fee before purchasing
Does this sound like a legit company? Well, to learn even more about this MLM Ponzi scheme, keep on reading.
How Much Does 7K Metals Cost?
With 7K Metals, you have two options. You can either pay $250 per year or pay a $75 upfront fee and $10 each month. What will you get once you choose one of these two options? The answer is really disappointing. You will get nothing else except the ability to access their products and purchase them. In other words, you will continue to fill their pockets.
On top of that, you have to pay for everything you are supposed to pay before you could be able to choose which product you want to buy. However, you should be prepared for this step as their products range from around $46.27 up to a whopping sum of $38,728.70.
Further, if you want to make money by buying precious metals and then reselling them once their value increases, then 7K Metals is not the right platform for you. With this MLM company, you will have to pay the membership fee first. Not only this, but you will also be paying more money for the precious metal than if you go to another firm. After in-depth research, we found out that the prices of 7K Metals are much higher than regular prices.
In other words, don’t expect to make money by buying and reselling precious metals with this multi-level-marketing company. Here, people make money when they participate in the company’s referral program. The more people you recruit, the more commission, which means, the more money you will earn. Also, as this is like a pyramid, the more people the person you have recruited recruits, the higher the commission for you (and for him as well).
What Is The 7K Metals Compensation Plan?
Same as most MLM companies, 7K Metals operates a typical binary compensation plan. Moreover, affiliates earn points when they recruit new members. Further, once they get them to purchase precious metal packages or products through the site, they make money.
For example, if you recruit a person who has paid the $250 yearly fee, you will automatically earn 100 points. Moreover, depending on the money your person spends, the higher your reward will be. More money spent, more coins awarded to the recruiter.
It won’t come out of the blue sky than when your recruiter urges you to invest as much money as you possibly can into the site. He or she will probably even try to explain to you what a once-in-a-lifetime opportunity this is.
Further, at the end of each week, the amount of points is added upon each leg of the binary compensation plan. Typically, 7K Metals awards with $1,000 affiliates who have 500 points matched on each leg ( for every 500 points). However, the tricky part is that this is also the maximum amount of money the company can pay affiliates per week.
As 7K Metals is a relatively new company, we could not say with 100% surety that 7K Metals is a Ponzi Scheme. However, 7K Metals is not a transparent or a trustworthy company. Also, as we mentioned earlier, typically, all multi-level-marketing companies are simply scams. Further 7K Metals does seem like a pyramid scheme.
In other words, we won’t recommend this company to anyone. Also, most possibly, you won’t be able to make money due to the fees and the compensation plan they offer. It is more likely that you will lose money. However, only time will show if we were correct.