Have you ever wondered what the Giver Forum is or the status of the forum right now? In this article, we will talk about the Givers forum, founder and status.
The Givers Forum Nigeria is a networking platform. It has gained popularity in recent years particularly since 2016. Many people have turned to this forum for quick access to sustain or double their finances. For many, there are speculations that it is yet another Ponzi scheme. Others are confused owing to the information available on their website. In this article, we will address all of those issues.
What is Givers Forum?
Although the website claims to be a charity organization, they operate like other Ponzi schemes including Ultimate Cycler, Twinkas and MMM. There is no central account, so tracing cash flow through the system is difficult. Rather than use a central account, the forum’s admin will direct the flow of cash from one member account to the another.
No products or services are also exchanged on the forum. No money is actually loaned. So the forum is simply a Ponzi scheme which operates on give and collect networking.
Who is the Founder of Givers Forum?
Unlike many other Ponzi schemes out there, Givers Forum has no founder. There is no face behind the platform which further suggests the fact that it might be a fraudulent scheme.
How does Givers Forum Work?
Signing up on the forum is very easy. All you need do is provide your basic details on their official website to get signed up. Your normal bank account will be used in receiving and giving money.
The platform has two sections, you can either Get Help (accept payment from others) or Provide Help (Pay others). You cannot accept help from others without first giving help to someone. This again undermines the claims that it is a charity organization.
Provide Help
When you log in for the first time you will declare your interest to provide help. There is no fixed amount you can pay. However, your money will increase by 10% every week and 40% ever month. At the end of the month, you will see the sum you can ask from other participants who are making a pledge.
Get Help
If you want to get help, after you have gotten the sum that participants is supposed to pay to you, you will activate the status. Your funds should be made to you within 48 to 96 hours.
If are asked to provide help and you can’t so within 48hours on weekdays and 96 hours on weekends, you will be removed from the system. When removed, you won’t be able to register with that same email again.
Givers Forum Referral Platform
Participants can also make money when they recruit new participants to the platform. The system claims that 10% or 40% interest is only goodwill or reward. Beginners who refer new people to the password will earn 10%. Your interests will reduce as they arise from one level to the next.
Is Givers Forum Still paying?
Like other Ponzi schemes, the Givers Forum has since folded in exactly the same way that it came into existence. No one knows the exact date Givers forum to life. But it is quite clear that the first week of the year 2017 was hellish for many participants who lost their money to the scheme.
The scheme first crashed in November 2016. By the first month in 2017, the unknown founder released a heartfelt note that the forum is back. But participants were unable to recover funds or receive any help. By the end of January 2017, the forum was history
It goes without saying that lots of people can quickly trust a system with their hard-earned money in the hope of something higher without sweats. Ponzi schemes like Givers Forum fold at all times, they are volatile and fraudulent schemes, one should avoid.
But there is a nagging question – would people be quick to get involved in any Ponzi scheme introduced today?