Is Freecit Legit?

First off, this is for research and educational purpose only. The following insights and commentary are not in any way an attempt to entice people or an attempt to recruit people to any service or website.

For a couple of weeks now, I am hearing talks about "tasks" and payouts from my colleagues. They would often gather in a place in the office and talk about Freecit and stuff involving the subject.

Apparently, it is a website that is like the usual get-paid-to (GPT) website. They will pay you a specific amount for doing a task. In this case, the task is simply liking a post on Facebook, Youtube, Instagram, or TikTok. You like a post, take a screenshot and then upload it to the website. You will then be paid in "GOLD" which is then convertible to cash and if you accumulate enough cash, you can withdraw it to GCash or to a bank account. The minimum withdrawal amount is set to Php 100.00.

The Catch

The task sounds simple enough, right? But the catch here is, yes, you will have to pay a membership or a subscription fee before you can use its services. The minimum "entrance fee" is Php 1,200. With that amount, you have the potential to earn around Php 55 a day and you can withdraw your money every two days since the minimum withdrawal threshold is Php 100. So doing a quick math, You'll have to do the daily tasks for about 21.8 or 22 days so you can realize the Php 1,200 initial investment. After the 22nd day, the daily tasks you'll do will be pure profit. Not bad eh?

The website offers different tiers of membership. The higher the tier, the more tasks you can do and the more gold you can earn, and of course, the higher the amount you will pay. But still, the return-of-investment (ROI) duration is around 20+ days still.

As you can see from the image above, I am currently using the Aquarius plan which is the 1,200 deal. I just started today so it's a long waiting time for me. Also, why did I just join today and not earlier? The reason why is simple. I think it's another networking/Ponzi scheme. And I'm not alone in that regard.

Scam?

Even the SEC or the Securities and Exchange Commission thinks so. SEC is the agency that deals with the companies and corporations that offer investment services. They released a statement earlier this month that the website is NOT registered with the proper licenses. And they dubbed it as a copy of Ponzi scheme. It's a scheme that relies on the subsequent payment of the new members to compensate the earlier investors, you know, pyramid scam.

Well, of course, if you really think about it, it's as simple as that. I think that in any endeavor where you need to refer people to get back your investment, it's a networking scam.

So why did I decide to try it?

Well, first off, I see with my own eyes that the website is still paying the withdrawals of my colleagues despite the SEC's statement. Just so you know, SEC is still denying the recognition of XRP as a currency too, that's why I am not taking their word at face value.

Second, there is a possibility that the website isn't solely relying on the investment of new investors. If the entities behind the profiles that the users are liking are paying money to be exposed, then they have a legit operation. But I still believe that they heavily rely on the investments too.

For a limited time, they are offering rebates when you sign up on the platform using a referral link. Yes, you can sign up without referral, I am not certain if that's possible in other networking services.

Anyway, I used a referral code from my colleague and I received a rebate of Php 300. So taking that into consideration, I only invested Php 900.

That rebate also made it possible for me to initiate a withdrawal process. I will let you know if the withdrawal goes through. My friends told me that the current withdrawal process takes 3-5 days because the recharging and the withdrawal processes are done manually by real people.

They announced that the process will be automated next week and will shorten the withdrawal process extensively and it will only be 10 minutes tops.

Anyway, I will not be putting up my referral code here since I am really not promoting this service just yet. But if you want to take a leap of faith and enjoy the risk with me, I'll hook you up. :)

Hi there!!!

Again, this is not a promotion. I am just doing this for research and experience only. Always DYOR and only invest what you can lose. I already considered my Php 1,200 a loss, but hopefully, that 300 could at least get back to where it really belongs, in my tummy.

Anyhow, that's it for me, I'll let you know if I really got scammed or this thing is a potentially worthwhile extra daily activity. I'm guessing though that this may not be like a very long-standing company. They are still pretty new, they just started maybe September last year. Alright, so I guess we can answer the question next time until we read again...

Cheers!!!

Author's Links

Noise : https://noise.cash/u/MeitanteiKudo

Torum: https://www.torum.com/signup?referral_code=meitanteikudo

Telegram:meitanteikudo

Twitter : boynextdoor1409

Hive: https://hive.blog/@meitanteikudo/posts

Would You Like to Earn Some More?

Passive income with your internet: https://r.honeygain.me/RBSHIFEFC3 (gain $5 instantly by using my referral link)

Play some games and earn : https://rollercoin.com/?r=kw4ixbkg

Watch, learn, and play while you earn: https://register.legionnetwork.io/yaeig5G (Use my code for $5 bonus)

Series    : Random Articles
Title     : Is Freecit Legit?
Published : 12-Feb-2022
Author :  © RB