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Is CannerGrow Review A Scam? Ponzi Scheme Or Legit Cannabis CryptoMLM?
Welcome to my CannerGrow Review!
Companies with multi-level marketing (MLM) platform had been sprouting everywhere, from health and wellness, cosmetics, food, name it. There’s indeed a lot!
And now we will be discussing an MLM that’s in the cryptocurrency niche but also combines Cannabis in its market - CannerGrow.
Founders: Sascha Adrian Waeschle, Severin Jem Amweg, Levin Kim Amweg, and Maik Marcel Pietrowski
Product Type: Multi-Level Marketing
Price: Around $382.78 To $38277.57 (EUR 350 To EUR 35,000) For The Investment
Quick Summary: CannerGrow is a multi-level marketing company in the cryptocurrency niche. They say that they are a virtual grower of Cannabis as their tagline states “We grow for you”.
However, it may seem that this cannabis thing is just a facade and that there are really no products being sold. With this, they can even be labeled as a pyramid scheme because they too focus too much on recruitment.
Overall Rating: 2/10
There are two issues though: one, in some states and countries, it’s not legal to distribute Cannabis and two, most cryptocurrency opportunities online are NOT reliable.
But of course, it’s too early to assume so in this unbiased post, we’ll try to answer the following questions, such as if it’s a legit program, how much money will you make from it, its pros and cons, and many more.
What Is CannerGrow About?
Cannergrow is a project founded by Cannerald. Cannerald is a Swiss cannabis research and production company that is one of the world's top one percent of all suppliers in this promising market segment. Cannerald combines professional cultivation with an easy to use Customer-End-Web interface.
CannerGrow offers the first and so far, only Plant-Growing-Service in the entire Cannabis industry. As their tagline states “We grow for you”. They claim that anyone from all around the world can get started in the cannabis industry with them and be a virtual grower and get a piece of their huge billion-dollar market.
In short, CannerGrow is a Cannabis investment MLM company that has you investing in cannabis, promising you a return on your investments. It’s in the cryptocurrency niche.
It was in 2017 when CannerGrow was founded by Severin Jem Amweg, Sascha Adrian Waeschle, Maik Marcel Pietrowski and Levin Kim Amweg.
They also claim that with various locations in different countries, CannerGrow operates internationally and makes use of the various regulations and laws of the respective countries.
CannerGrow Product Line
With all the Cannabis hype of this company and though CannerGrow is affiliated with a Cannabis company, CannerGrow has actually no retailable products or services. Peculiar right?
And like most investment schemes, CannerGrow also operates by letting affiliates only be able to market CannerGrow affiliate membership itself.
As part of Cannerald’s business operations, the company has claims of having growing warehouses. One in Switzerland and one in the UK.
How To Make Money With CannerGrow?
Basically, being an Investment scheme, there are different ways for you to make money in CannerGrow:
Return on Investment (ROI)
- 1 Plants – By investing €350, you’ll receive €50 every 2-3months
- 10 Plants – By investing €3500, you’ll receive €500 every 2-3months
- 25 Plants – By investing €8750, you’ll receive €1250 every 2-3months
- 100 Plants – By investing €35,000, you’ll receive €5000 every 2-3months
Referral Commissions - Profit you’ll receive from recruitment. CannerGrow pays these commissions via a unilevel compensation structure.
Like most MLMs, you’ll basically need to have downlines to avail of this. CannerGrow pays referral commissions 5 levels deep.
Referral commissions are paid out as a percentage of funds invested across these levels:
- Level 1 (personally recruited affiliates) – 5%
- Level 2 – 2%
- Level 3 to 5 – 1%
- ROI MATCHING BONUS- Pays a matching bonus on returns paid to unilevel team affiliates. Like the Referral Commissions, it pays 5 levels deep:
- level 1 – 10% ROI match
- level 2 – 4% ROI match
- levels 3 to 5 – 2% ROI match
See more of CannerGrow’s compensation plan in this video:
Is CannerGrow A Scam?
I can’t totally conclude that it’s a scam. However, CannerGrow has the likes of being a Ponzi Scheme and as well Pyramid Scheme due to a couple of red flags including its recruitment hype and with no products being sold.
So probably the ROI comes from the people recruiting and investing. And also, I couldn’t find any evidence that people are earning. There is even no income disclosure statement. So definitely, at this point, we are not recommending anyone to this program.
Basically, you are buying into growing some Cannabis and the earnings for those plants sale will be divided between you and the company. They have these digital plants which in turn have their physical counterparts - typical cryptocurrency scheme.
The plants then get harvested every 2-3 months and you will get your profit for every plant sale. Then the cycle repeats.
But as to what mentioned above basically there are no retailable products and what you are really marketing are affiliate memberships.
These are the investments to choose from:
- 1 Plants – EUR 350
- 10 Plants – EUR 3500
- 25 Plants – EUR 8750
- 100 Plants – EUR 35,000
FYI: You only need to invest at least 1 plant to be eligible for the compensation plan as an affiliate. But this is just an initial investment. And to gain more, you’ll probably opt to invest more succeedingly and being an MLM itself, you too will opt to recruit more.
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To be honest, we can’t find anything to like about what this company could give or offer.
Liken To A Ponzi Scheme And A Pyramid Scheme
Why a Ponzi Scheme? Because first and foremost, it is unregistered. For anything that guarantees a return, legally needs to be registered to do so. And why do they need a crypto token? There isn’t even an ICO.
And EUR 350 for a plant? That’s pretty expensive. Their cannabis hype may seem legit but it can’t prove that the income really comes from that plant sales. With no actual retailable product or service, probably the ROI comes from the affiliate membership itself.
Why the pyramid scheme? Because no product or service is being sold and it also relies too much on recruitment.
Too Much Focus On Recruitment
They may deceive you of the thought that you are buying plants but it’s more likely that you are buying affiliate memberships.
And since there’s no proof that earnings are from plant sales and it may take some time to get your ROI from your investments, you will probably opt to recruit people because you will earn even bigger with your referral commissions while waiting for your investment to return.
You’d probably need to have your members invest more money for the percentage commission and that you’ll have to recruit enough people to help you break even with your initial investment.
Yes joining CannerGrow’s business opportunity is pretty much costly, buying such digital investment plants will even cost you from €350 and up to €35,000 upon initial investment. That’s pretty much of an infeasible investment without any actual retailable product or service and with no proof or guarantee of ROI.
It is a great risk of investing such money. This opportunity is not worth your investment. It’s great to take risks but there’s always a limit to everything. Always weigh it in logically. Though you are financially capable, always put your money into good use.
Lack Of Control
Most MLMs will offer you some form of control over how much money you make. But CannerGrow doesn’t. They have regulatory issues. They don’t offer some guise of control because income will be reliant on the investments you make.
The lack of control here comes in the form of not knowing if your plants will get sold or not. They should have at least stated that you’re going to get your ROI every 2-3 months regardless of your plants sell or not. With that, it would really make it no sense in investing in such programs. It will be too risky!
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Who Is It For?
It's a business intended for those who are proficient with MLMs and for those who are fond of investments such as cryptocurrencies.
And since it has as well incorporated the hype of cannabis, it could be intended for those who are too engrossed with it. It’s also for those who are risk-takers and financially capable since investment costs are pretty expensive.
Signing up as an affiliate and start investment allows you to access their virtual grow room or their back office. In their back office, there you will find the Google Authenticator where you can additionally secure your account and your plants.
And also you will be as well given access to tools, resources and even updates needed for the business.
In conclusion, I can’t say that CannerGrow is totally a SCAM. However, it had the red flags of becoming a Ponzi and Pyramid Scheme.
There might be something fraudulent going on. It may offer some semblance of a legitimate cannabis business but the truth of the matter is that you’re not buying the plants but the affiliate membership itself since there are no actual retailable products or services. Not to mention the fact that Cannabis is still not legalized in most countries.
And also, as an MLM itself, it relies too much on recruitment. We couldn’t even find any evidence that people are earning. There is even no income disclosure statement.
And since there is no proof of ROI and with such expensive investment, you’ll be really compelled to recruit more and persuade your downlines to invest big so that you could break even with your initial investment.
With such investment schemes, the one in the upper tier probably will earn big and most probably those in the lower tier will end up losing it all. With all that, We will definitely not recommend you to this company!
It’s not worthy of investment. Being an MLM itself is already a pressure plus the thought of cryptocurrency incorporated with it makes it a lot more complicated. It will be too risky and you might as well end up losing everything. So If I were you, better skip this platform!
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Thank you for spending time checking out my CannerGrow review! Hope it was insightful and has helped you. Please feel free to place your queries, suggestions, and comments below. And I do hope you check on my recommended program. Have a great day!