What is ElevrusInvest?… ElevrusInvest is a Fraudulent Ponzi Scheme
You have probably heard about Elevrus from a Facebook friend who tried to invite you, and you want to know what Elevrus is all about. Well, Elevrus, as known as Elevrus International Community, is a big Russian scam that started off as a community based pyramid scheme. The pyramid scheme was cleverly designed to sustain itself as long as possible. It also had some safeguards to ensure that its administrators would not have access to the community funds. The scheme’s funds were kept by community participants. However, along the way, its founders and administrators developed greed and devised a plan to defraud participants by introducing a bogus digital currency called Elcoin
What Is Elevrus?
The Elevrus International Community refer to themselves as a global helping plan. Elevrus was founded in Russia in April 2015 with a mission to create a multi-million financial community of wealthy people around the world.
Elevrus International Community promised to provide members with an opportunity to make your money work hard for you! How? By providing its members (called participants) with social and financial instruments to create wealth based on principles of union and mutual trust.
Yes, I know the above explanation sound confusing, so here I will try to put it in a simpler version. Elevrus is an international community that claims to enable ordinary people like you and me to pool their resources together with one aim; to achieve their financial goals. Based in Russia and now spread globally to over 25 countries including India, Dubai, China and Egypt, and South Africa, Elevrus aimed at providing a global financial helping plan for the poor.
Elevrus claims that it capitalizes on the power of crowd funding to increase the financial strength of its members, who would otherwise struggle to make their ends meet by depending on crippling bank loans.
However, in reality, Elevrus is just another Russian based pyramid scheme that was designed to help people, but in the end, the administrators decided to defraud investors. The following 2 section explain why I joined Elevrus and how Elevrus works. The last section explains why Elevrus is scam and why you should not join it.
Why I Joined Elevrus
I joined Elevrus because I was looking for another Get Rich Quick scheme. The main aim was to find an online investment platform that would enable my money to work for me.
And then, I found Elevrus International Community through a friend based in India. He sent a message on my Facebook page and said there was this new online investment platform that is different from the others and whether I wanted to try. Since I was on lookout for another online Get Rich Quick scheme, I accepted and he sent me the link to the website. The website looked very professional. After exploring it, and reading how the system worked, the website looked a genuine get rich quick scheme that was well thought out. So I decided to join and contribute 2 bitcoins.
My first attempt with online investments was on a platform called Kipi which I was introduced to by a friend. It was a worthy try but later, I discovered MMM Global. Although I have made some good money with these two Stokvels, I have also lost chunks of money on other online investments platforms (read scams) such as BTC Flex, InvestDailyProfit (IDP) and Carbon 7.
How Does Elevrus Work?
The international community "ELEVRUS" has a goal to unite large numbers of people in different countries towards prosperity and financial success. The major resource of Elevrus is its community members who participate on the principles of mutual trust. Elevrus understands the dynamics of world economy and the need to create and re-distribute wealth based on shared prosperity, a principle that financial institutions have failed to achieve.
Basically, Elevrus work like the well-known global communities like Stokvel, except that Elevrus is ten times better than a Stokvel. If you have never heard of Stokvel, this is an informal savings club in which members contribute regularly to receive payouts in rotation. How is Elevrus better than Stokvel? Here is an example: In a 12 member Stokvel, each member would contribute R4 000, 11 times a year and receive a one-time payout of R 44 000. In Elevrus, you only contribute once a year and receive a payment weekly or monthly depending on your plan on the Elevrus system.
Each member in Elevrus has a contribution plan. The level of competitiveness, social status or location does not matter. What matters in Elevrus community is reliability and stability to build your own source of income. For an example, if you contribute R40 000 to Elevrus, you will be paid R10 800 per month for a period of 12 months. You will recoup your initial deposit of R40 000 within the first 4 months. Then from the 5th to the 12th month you will be receiving profit. So your initial contribution of R40 000 would have earned you payouts of R10 800 per month, a total of R129 600 over a period of 12 months. Off course, you can re-invest your earnings to earn even more! The payment schedule below shows some examples of what you can expect to earn depending on the amount you contribute.
At Elevrus, members help one another to achieve their financial goals through a peer-to-peer system that is used to distribute funds among the members. Moreover, the pool of funds is kept by the members of the community and not in a central account. This eliminates the possibility of a single dishonest individual scamming or swindling the community when the funds are in a single central account.
Once you become a registered member of the community, you qualify to make a personal contribution. The amount you contribute determines the interest you will accumulate on a daily basis. The custodians of funds in Elevrus are called Managers. Once you have made an offer to contribute, the system will provide you with details of a randomly selected Manager among the many thousands of managers in the system where you should send your funds to. The function of the Manager is to receive, keep, and disburse the funds to Elevrus members.
Elevrus Managers are promoted from among the community members and any member can become a Manager under the following criteria:
Contribute a total minimum of $400.00 or equivalent in other currencies
Personally invite at least 10 participants to the Elevrus community system
Participants invited must each contribute at least $400 or equivalent in other currencies
Once promoted to Manager Level, carry out manager’s responsibilities judiciously
To ensure that funds allocated to each Manager is safe and that managers won’t get tempted to disappear with the funds, the funds in each manager’s account is always less than the funds that are due to them in the system. Managers receive bonus that are structured in accordance with their achieved status. Currently, Elevrus International Community has 12 levels of managers.
Members also receive bonuses for sharing this opportunity with their friends or family and inviting other participants into the system. The bonus for inviting other participants is a one single rate of 8% of the total contribution of the new party. A member who has earned money and wants to withdraw submits a withdrawal request to the system. The system will inform managers randomly and one of the managers will be selected to deposit funds in a member’s personal account.
Getting Started With Elevrus
Getting started with Elevrus begins with opening a member’s account on Elevrus official website. You will need to provide a name or nickname, preferred password and email address. Choose a name that will appeal to others since it is the same name that you will use to refer other participants to Elevrus system. Once you are done, read the terms and conditions and click on the ‘Registration’ tab. After opening the account, make sure to complete your profile with additional details; name, surname, telephone number etc.
At this point, I would like to explain certain blocks of required information listed below that you may find a bit confusing when filling out your personal profile details:
Full Name in Latin: Just type in your ordinary name and surname again
Skype: Type in your Skype name, if you don’t have a Skype account, type your first name
ICQ: You can leave this part blank
Currency: If you are going to use Bitcoins as your currency, select Bitcoin, otherwise select USD
When your account profile is complete, go ahead and complete your payment details as well. You will also need to provide your preferred payment system or the address of your payment wallet. Elevrus accepts most payment systems including Neteller, Perfect Money, Western Union and Bitcoins.
Making a Contribution
Once all your profile and payment information is complete, you’ll be ready to make a contribution. To start contributing, you must first transfer funds to your Elevrus account by going to ‘Finances’ on the side bar and clicking the ‘Add’ tab. Then just follow the steps the system will take you through. The steps for making a contribution are simple and straight forward. You will be required to choose your currency and method of payment, after which you will be given the account details of a randomly selected manager for you to deposit funds into his or her account.
You will have a maximum of 24 hours to transfer the funds and the allocated manager will confirm through the system when funds are received. Just remember, even after making a deposit to your Elevrus account, you will still be required to make a contribution first (at least the set minimum) before you can start earning interest. To make a contribution, go to ‘Finances’ on the sidebar and click on the ‘To Make Contributions’ tab. Then follow the steps as guided by the system. The minimum contribution required is $50 or equivalent currency. If you are going to use Bitcoin as your currency, the minimum contribution required is 0.45 btc.
You will be able to withdraw funds weekly, every Monday, depending on your contribution. The minimum fund you can withdraw is $10 or its equivalent in your currency. If you are going to use Bitcoins, the minimum you can withdraw is 0.1 btc. Interest earned depends on your contribution tier. For example, $50 - $1500 tier will earn 292% interest per year or 0.8/per day/365 days. Off course you can earn more by re-investing.
The Fall of Elevrus
I joined Elevrus knowing very well that it was some kind of pyramid scheme and knew the risks of losing money were very high. But I was hoping that the scheme would operate until it ran out of new people to recruit and die a natural death.
However, the opposite happened, the scheme died prematurely because the administrators of the system became greedy and decided to defraud participants. Although the system was designed to be secure by having community members keep and dispatch funds, the administrators devised an intelligent plan to defraud members.
They introduced a bogus digital currency for the system and called it Elcoin. They exchange this Elcoin for real money with unsuspecting managers who were keeping community funds. By the time the managers realised the deception, it was too late to act; most of the real money in the form bitcoins, US dollars and other currencies had been transferred to the accounts of the administrators. The fall of elevrus was
Instead of closing down the system, the administrators decided restart and revamp the system onto a new website called ElevrusInvest.
So Elevrus is still around and has now changed its website address from Elevrus.cc to ElevrusInvest.com.
On their new website, the old usernames and passwords still work, but all the funds participants had in their accounts have been zeroed. Meaning that even if you had funds in your account you had to start over again and contribute money.
And this time around, every old participant has to pay 150 Elcoins (about $300) to continue participating and to get weekly payouts.
So obviously, the administrators were not satisfied with the initial defrauding of participants, they wanted to continue scamming people because it is supposedly a lot fun.
If you’re thinking about joining Elevrus, don’t do it because it is big money making scheme for the administrators.
Other Ways to Make Money Online
Elevrus, like other pyramid schemes such as Kipi, is a sad reminder that that get rich quick schemes don’t work in the long run.. Pyramid and Ponzi scheme are extremely high risk and should be treated as a form of gambling should you decide to involve yourself with them.
No person or online company will pay you insane amount of money without you adding value to their company or organisation.
Fortunately, there are genuine ways to make online, it is just that, initially, they require time and a little bit of hard work on your part.
My favourite way to make money online is affiliate marketing. This is because all you need to get started in affiliate marketing is just a website, the rest you can learn through many affiliate marketing training websites.
Before I started this website, I knew absolutely nothing about online marketing or website creation. I was very to stumble across an affiliate marketing training platform called Wealthy Affiliate. You can read my review of Wealthy Affiliate and hopefully learn how to create your website and promote products for companies.