In this honest CrowdyLoan review, you will know if the crowdy loan is a legit scam or a pure 2022 scam.
Nigerians have found several ways to make money online. There are various income streams online such as sports betting, online investing, reading news, blogging, and many others.
As time went on, other currents began to appear. You will hardly find anyone with a smartphone who does not earn money online. Almost everyone has turned into online fund miners.
Many websites have been created to help Nigerians make money online as well.
However, only a few of this growing number is legit. Many of them are fraudulent projects.
Recently, a new stream of making money online has been introduced and many Nigerians are jumping into it. It is known as peer-to-peer borrowing. As the name implies, it is about borrowing money online.
If you are reading this, you may have heard of the recently launched peer-to-peer lending platform known as Crowdy Loan.
What is CrowdyLoan?
Crowdy Loan is a peer-to-peer platform where platform members lend each other money in exchange for a commission. At the time of writing this review, the platform costs N5000 to become a lender and as per its promise, each registered member can earn up to 160,000 Naira per month.
Crowdy Loan is a platform where members lend each other money in exchange for a commission.
To become a CrowdyLoan member you need to pay an amount of N1,000.
CrowdyLoan claims that members can earn up to N160,000 in just one month of their N1,000 membership.
How is that possible? You will know here. Let’s take a look at how the CrowdyLoan platform works and how you can join if you want. You will also know if the project is legit or a major scam.
Crowdy Loan Review 2022 – How Does Crowdyloan Work?
A short view of how Crowdyloan works were shown to you in the About section above and in this section we will further discuss how the platform works and with the information provided in this guide, you can gain some insight into just how legit Crowdyloan is.
At the time of writing this Crowdy Loan review, the platform has six loan tiers, and to become an active member of the platform, you must make a loan of 5,000 naira to an existing member of the platform who has provided a loan and awaiting your return. . According to CrowdyLoan, you can earn up to N160,000 in just one month from your one-time payment of N1,000, moving from tier to tier.
These levels determine your earnings on the platform.
There are six loan tiers in Crowdy Loan. All members must start from level 1.
As a new member, you cannot jump to higher levels without going through Level 1.
Let’s take a look at the different loan levels in CrowdyLoan and each level includes.
- Level 1: This tier requires you to provide a loan of N1,000 and you will receive N5,000 within 5 minutes.
- Level 2: For this level, you need to provide a loan of N5,000 and you will receive N10,000 within 2 days.
- Level 3: For this level, you need to provide a loan of N10,000 and you will receive N20,000 within 4 days.
- Level 4: This Tier requires you to provide a loan of N20,000 and you will receive N40,000 in 6 days.
- Level 5: For this level, you have to provide a loan of N40,000 and you will receive N80,000 within 8 days.
- Level 6: This Tier requires you to provide a loan of N80,000 and you will receive N160,000 in 10 days.
When you add all these numbers together, you will earn a total of N160,000 in 30 days from your one-time investment of N1,000. Let’s take a look at how to get started with CrowdyLoan.
When was Crowdy Loan launched?
I have no exact idea when this peer-to-peer lending platform called CrowdyLoan launched, but based on my research, it may have launched in the first few months of 2022.
This means it has been a few months and it may not be safe to go outside again. Be smart with your money!
How much do I need to join CrowdyLoan?
As I mentioned before, you only need an amount of N1,000 to start using CrowdyLoan. You don’t have to break the bank to be a Crowdy Loan verified member.
How much can I earn in a month with CrowdyLoan?
You can earn up to N160,000 on Crowdy Loan within a month and multiple times. This is only with your payment of N1,000 at the beginning.
How do you get started with CrowdyLoan?
To get started with CrowdyLoan, you need to follow three steps and you are all set. I’ll list those steps here and how to go about them.
1. Create your CrowdyLoan account.
First of all, you need to visit the Crowdy Loan website and create or register a new account. You will be asked to provide some details or information about yourself.
You will then be asked to verify some information that you must have provided, such as your phone number and email address.
This is required to verify your CrowdyLoan account/profile. After doing this, you can proceed to the next step.
2. Activate your CrowdyLoan.com account with N1,000.
Then you need to activate your verified account with a token of N1,000. This N1,000 will be used as a loan for another member in need.
Then you will be merged with every member who needs it.
3. Get N5000 in 5 minutes.
Once your payment to the other member is approved, you will receive N5,000 within 5 minutes. After you withdraw money, you can choose to upgrade or not. And with you.
Is CrowdyLoan Scam or Legitimate?
Honestly, what seems too good to be true turns out to be a hoax. CrowdyLoan is one such. The levels are very attractive and can crash quickly.
CrowdyLoan claims that you can earn N160,000 from N1,000 in 30 days by lending money to other members on the platform. Come to think of it, and if no one wants to borrow money, how are you going to make money as a lender on the platform?
CrowdyLoan also claims that you will get N5,000 just by borrowing N1,000 in 5 minutes. That doesn’t seem possible. Where does the N5,000 come from? If that’s possible, it’s safe to say CrowdyLoan is a Ponzi scheme.
You may already know that Ponzi schemes don’t last unless new members keep coming.
If there are no new members, there will be no money to pay the older members and the scheme will collapse.
I can’t call the Crowdy Loan scheme yet, nor can I guarantee it’s legit because
I’ve never heard of bad Crowdyloan reviews or payment warnings. If I’ve seen any of these, it’s safer to support if it’s legit or a scam.
However, if you feel good about losing N1,000, you can venture into the CrowdyLoan program.
But if you can’t bear the loss of N1,000, don’t worry about joining. Therefore, you are always advised to invest what you can afford to lose.
From a point of view of things, Crowdy Loan may not last as long as many other Ponzi schemes.
The rewards are very attractive and can arouse suspicion among many investors, leaving them behind. This will cause a fall.
How many loan levels are available on CrowdyLoan?
There are six levels available on the CrowdyLoan platform. A summary of what they contain follows;
- Level 1: Borrow N1,000 and receive N5,000 in 5 minutes.
- Level 2: Borrow N5,000 and receive N10,000 in 2 days.
- Level 3: Borrow N10,000 and receive N20,000 in 4 days.
- Level 4: Borrow N20,000 and receive N40,000 in 6 days.
- Level 5: Borrow N40,000 and receive N80,000 in 8 days.
- Level 6: Borrow N80,000 and receive N160,000 in 10 days.
Is it still safe to participate in CrowdyLoan?
If you are well acquainted with online platforms, you know that earlier investors benefit more from them than later investors.
Most of these platforms are built on Ponzi schemes, so early adopters benefit the most.
CrowdyLoan launched a few months ago and I don’t think it’s advisable to jump in for now.
That doesn’t mean you shouldn’t enroll if you’re convinced too. It’s just advice.
Who should I pay my N1,000 registration fee to?
You will be merged with another member who will lend you N1,000 and receive N5,000 in 5 minutes.
How does CrowdyLoan make its own money?
This question still seems a mystery to me. A platform that claims to help other people make money online is not making money for itself.
Again, Crowdy Loan claims to pay a 10% referral bonus when your referral borrows money on the platform.
Where are all these funds coming from? Everything seems a mystery. Don’t think too far.
There are no sources of income for CrowdyLoan owners. That should give you an idea of what they plan to do one day.
These kinds of platforms eventually run off with member funds.
If this eventually happens, members won’t even be able to sue owners because CrowdyLoan doesn’t have a terms and conditions page. There are no terms and conditions on the site.
Since the members registered without seeing the terms and conditions, they indirectly agreed to take responsibility for what happens to their hard-earned money.
Crowdyloan Customer Service Number
Many people are looking for CrowdyLoan customer service numbers and in this section, I will tell you how to contact crowdy loan customer service when needed.
To contact Crowdy Loan support, please send your complaints to firstname.lastname@example.org and wait for a response.
Crowdy Loan is a platform for Ponzi schemes like many other platforms we have come to know in the past and with the detailed information provided for you in this Crowdyloan review, I am sure you have learned everything you need to know about its platform and full tips on the ability to try it out or zoom out.