Welcome to My iPro Network Review!
Cryptocurrencies may not be that long as compared to other niches in the MLM field but it seems like it keeps sprouting over the business world and in MLM opportunities. But only a few are legitimate and most of which are scams, just like most companies we’ve reviewed in this niche, such as MarketPeak and Doubleway.
iPro Network Review Summary
Name: iPro Network
Founders: Armando Contreras
Product Type: Multi-Level Marketing
Price: $50 For The Annual Fee + $100 To $6,000 For The Membership Packages
Quick Summary: iPro Network is a cryptocurrency business opportunity that incorporates a multi-level marketing (MLM) platform. However, everything about this company appears to be a big lie and it's just like one of those fraudulent investment schemes.
It's a pyramid scheme that has already been accused by the Securities and Exchange Commission (SEC). Don’t get fooled. I do not recommend you to this opportunity!
Overall Rating: 1/10
Now, we will talk about a company called iPro Network which is also in this kind of niche. Does it offer a legit opportunity to make money online? How does it work? Is it worth your time?
Find out more in this honest iPro Network review.
What Is iPro Network About?
iPro Network is a multi-level marketing (MLM) company that operates in the cryptocurrency niche.
It is a blend of cryptocurrency investing, e-commerce, direct sales, internet marketplace, and a very aggressive rebate program. They have created a multifaceted platform to bring new ecoins into the market while allowing investors, marketers, consumers, and retailers to profit from this introduction.
As of the time in making this review, I couldn’t find any official website except for a Facebook page of iPro Network but as to reviews I’ve seen, they said that the official website doesn’t provide any information on who the owner is or where they’re located but upon further investigation, third-party research says that Armando Contreras was mentioned as the official CEO of iPro Network.
Armando Contreras claims that he has years of direct selling experience and working with multi-national businesses in niches such as travel, insurance, and IT. But upon further verification, it appears that nothing is remotely close to what is stated in his bio. Aside from iPro Network, there’s no information about him or his MLM experiences outside.
The US Securities and Exchange Commission (SEC) charged Daniel Pacheco and Contreras for abuses and outright fraud in cryptocurrency. The company was even said to have raised more than $26 million to finance the development of its own blockchain-based direct sales network.
The SEC determined that iPro Network sold securities without filing a registration or qualifying for a registration exemption. Definitely, fraudulent right? So where are they now? I don’t know! Probably, closed!
iPro Network Product Line
Most MLMs promote and sell retail products or services. And with these, they could allow members to benefit from their respective compensation plans.
For legit MLMs, recruiting members and getting incentives from it should be a secondary source. Because if things are the other way around, the opportunity may seem more like a pyramid scheme, Ponzi scheme, or in short a scam!
With iPro Network, they don’t offer any physical products or services to sell but what you get into this is a membership to purchase tokens and matrix positions.
How To Make Money With iPro Network?
The commissions in iPro Network are actually from recruitment. You may think that the compensation plan tries to make you think you’re investing in their Pro Coin but in reality, here’s the recruitment hype because the iPro Network wants you to recruit others to do the same for remuneration comes from the pool of money for recruitment. That’s why it’s even labeled as a Pyramid Scheme. And it seems, it is!
Well, as to their compensation plan, 70% of the earnings are paid out in cash while the remaining 30% is paid in Pro Coin.
As mentioned, you will definitely earn through recruitment and this is how it is…
When you have recruited new members into the program, you’ll then get 10% recruitment commission based on your package:
- Recruit A $100 Package Affiliate And Receive $10
- Recruit A $500 Package Affiliate And Receive $50
- Recruit A $1500 Package Affiliate And Receive $150
- Recruit A $2500 Package Affiliate And Receive $250
- Recruit A $5500 Package Affiliate And Receive $550
Their compensation plan follows a binary compensation structure. The commissions are capped based on the packages purchased:
- Basic affiliates are capped at $500
- Intermediate affiliates are capped at $2500
- Accelerated affiliates are capped at $7500
- Advanced affiliates are capped at $12,000
- Professional affiliates are capped at $35,000
Matching Bonus - This section of the pay plan runs for four active levels and gives a percentage of the volume of the entire level. It also allows you to skip over levels that are not producing over $1000 during that pay period, and the level skipped can change every pay period as volume fluctuates.
In the example below, you would get paid as far down as your eighth level and make a total matching bonus of $9,800 for that pay period.
- Leadership Rank Bonus- It is based on the total volume of your entire network and ranges from a $50 bonus to 3% of the total volume.
Is iPro Network A Scam?
Pro Network appears to be a pyramid scheme that is in short fraudulent and a SCAM. There’s even no proof that it’s still operating up to this day. I can’t even access the company landing page. And also they’ve already been pursued by the SEC.
More than anything, this red flag alone is already enough reason not to buy into this program.
If you choose to only participate in the rebate program, all you have to do is download and set up the free app and start shopping at your favorite stores.
But if you plan to create an income, then join the MLM opportunity. So, you start by purchasing one of the Education and Tool packages. Each of these comes with various levels of training, tools, and the number of pay centers in your tree.
Amazingly, all of the packages come with a number of ecoins that make them effectively free. There are affiliate memberships available for purchase which is $50 a year plus the purchase of one from packages priced at $100-$6000.
These are the packages offered:
- Basic – $100
- Intermediate – $500
- Accelerated – $2000
- Advanced – $3000
- eTrader – $5000
- Professional – $6000
The difference between the packages is its income potential via their compensation plan.
Being a crypto MLM, they have these Pro Coins. However, these may be worthless outside of the iPro Network because there are no legitimate merchants and it looks like there isn’t anyone willing to take on an unknown and unregistered cryptocurrency.
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There’s nothing to like about iPro Network. Well, the rebates thing is somehow appealing but when it comes to the MLM opportunity, it is a Pyramid Scheme, and who in their right mind would join a program that appears to be a scam?
The mentioned owner/CEO, Armando Contreras, claims that he has intensive experiences relevant to the business but upon further verification, it appears that nothing is remotely close to what is stated in his bio.
In fact, outside iPro Network, there’s no information about him or his MLM experiences and that’s a red flag surrounding his existence and experience. It was even him along with Daniel Pacheco and Contreras that was charged by the SEC for abuses and outright fraud in cryptocurrency.
Yes, they are not registered with the US Securities and Exchange Commission (SEC). So it’s illegal for them to carry out trades and investments. This is why they got charged with securities fraud. This alone can be a major red flag. Don’t join unless you want to get jailed with them.
iPro Network appears to be a pyramid scheme. See major red flags that make it one:
- The suspicious owner (even unreliable info of credentials)
- Not regulated by any authority such as SEC
- Focus on recruitment
iPro Network definitely operates fraudulently. So don’t get deceived of this SCAM!
No Income Potential
Aside from expensive costs upon joining their MLM opportunity, members may not be able to make money in this opportunity. Because their Pro Coin is totally worthless outside of the iPro Network.
There aren’t any legitimate merchants for this. So, you’ll end up losing your money and the sad thing is that you’ll not be able to get your money back because as mentioned, the iPro network is a scam!
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Who Is It For?
It's a business opportunity intended for those who are proficient with MLMs (since recruitment is greatly involved) and for those who are too engrossed with cryptocurrencies. And lastly, it’s for those with money since even the basic payment is $100 and can even reach up to $6000.
As a member of iPro Network and as part of their MLM opportunity, like most platforms, you’ll have access to their back office along with materials and resources you’ll need in your cryptoMLM business. And also incomes in an app that comes handy.
In conclusion, we can say that most information points out that the CryptoMLM- iPro Network is a scam. With the red flags of being a Pyramid, there is indeed really fraudulent going on with its operations.
They are even accused by the US SEC. Being an MLM in nature would definitely require you to recruit since they don’t have any physical products or services. So in that case, recruitment will be the sole source of pay.
It is also expensive but it would be worthless. It may promise a lot with its compensation plan but everything about this MLM is a lie. Not only you will not be able to make money but you’ll also not be able to take your money back.
So if I were you, don’t be fooled and deceived. Skip this one because I’m not definitely not recommending something you’ll get scammed with.
Online business opportunities are indeed everywhere but see to it to invest your time, money, and effort on earning opportunities that are honorable, trustworthy, and safe. Be vigilant and wise!
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Thank you for reading my iPro Network review! If you have any questions and comments or if you want to share your personal story, please feel free to do so in the comment box below.