Stepium claims to be an amazing opportunity to make money with Ethereum but this might not be true. There is a lot of hype surrounding this but much of the information out there is misleading. Many of the people claiming this project is amazing and trying to get you to join are only doing so because they will make money off of you when you buy in.
In this review I’ll be going over what Stepium is, how it works, how you make money, and whether or not I think its a scam. So if you are suspicious and wondering is Stepium a scam you are going to want to read this.
Stepium may look like an easy way to earn money but I have some major concerns with what is going on here. With all the cryptocurrency scams out there that I’ve looked into I know better than to just jump into any opportunity that pops up. First I’ll be going over how you can make money here followed by my concerns and why it could very well be a scam.
Ways To Make Money
With cloud mining you basically rent or lease mining equipment and earn from the revenue that the equipment generates. The more money you put into it the more equipment you lease and the more you earn. Hashflare is a popular cloud mining service and BTCMiner is another not so popular one.
The way this place allows you to lease equipment is through SMT tokens. You buy these to be able to earn from the mining.
There is both a linear and binary compensation structure that you can earn money with by recruiting in new investors. They both pay 6 levels deep, meaning you can earn ETH from the people you recruit (level 1), the people they recruit (level 2), the people they recruit (level 3) and so on.
The percentage that you make decreases per level but because of the pyramid structure that this compensation plan has and how it branches out more and more as you go down levels, you will be able to earn more the further down you go.
To participate in the referral program you don’t need to be participating in the cloud mining.
Linear vs Binary
With a linear compensation structure there are unlimited positions on each level, whereas with a binary compensation structure there are 2 spots beneath each person.
In the diagram below you can see the difference (linear is the same as uni-level)…
With the linear compensation plan you will be able to earn ETH right away but with the binary compensation plan you will have to fill up the structure until you fill the bottom level and after that you will earn income. The amount of levels you will have to fill depends on the level you bought in at.
Cost to Join
The cost to join ranges a lot. There are 6 levels you can buy in at starting at 0.06 ETH and going way up to 155.01 ETH at level 6.
The higher you buy in at the more it costs but the more potential you have to earn. For example if you buy in at a higher level you will be able to unlock more levels of the binary compensation plan, which means you will be able to earn a lot more from the people recruited in beneath you.
No Information On Team Behind This
When I look into cryptocurrency opportunities like this that have the potential to be a scam I always look into the team behind it to see if they are credible or not. In this case, and in the case of many known scams, there is no information given on the people behind it all. This is a problem for me…. a major one.
I have no idea who is running the operation here and I have no idea if I can trust them. This could be run by known scammers, but of course no one will ever know.
No Information On Mining Operations
Going along with the lack of information, there is also no information on the mining operations actually going on. They tell you that you can buy their SMT tokens (Stepium Mining Tokens) and this will allow you to earn from their mining operation… but where is the proof?
I know that mining pools like this where people all chip in to basically lease the equipment do exist, but I also know that there are a lot of cloud mining scams out there that claim they do this but in reality do not.
They should show pictures of their mining operation, tell you where its located…. anything. Instead you are left knowing nothing at all and are supposed to trust that they are doing what they say… even though you don’t even know who you have to trust because they don’t reveal the people behind it.
Potential to Be Ponzi Scheme
This very well could be a Ponzi scheme as far as I see it. Because of their lack of transparency you really don’t know what is going on behind the scenes. You have no idea what they are doing with your investments.
You could buy a bunch of SMT tokens to participate in the mining operation but who is to say that these tokens are actually going towards mining equipment?
There have been plenty of scam cloud mining operations like this that don’t do what they say. This could easily be a Ponzi where you think you are investing in mining equipment but really your investment is just going to pay off older investors. With Ponzi’s there is basically just a big transfer of money going on with new investments going to pay off other investors. There is no value provided and eventually they collapse when the flow of new investors decreases too much.
On top of this the lucrative recruitment structure is another common characteristic of a ponzi.
You can invest if you wish but I certainly will not be. There is no reason for me not to believe this is a ponzi scheme. If it were legit I would like to see some proof of this. The problem is that I see no proof of it and I know that it could easily be a ponzi scheme. I’ve seen this before and who is to say it can’t happen again. Stepium has many characteristics of being a cryptocurrency scam which I talked about in the post I wrote on how to spot a cryptocurrency scam.
If you have invested in this opportunity and have any thoughts on this please leave the below in the comment section. I would like to hear more from people who bought in. And please… no sales pitches.
On another note, which is not cryptocurrency related. If you are looking to make money online you might want to take a look at how I do it. The reason I’m mentioning this is because I know a lot of people looking to make money with cryptocurrency are just looking for money and not necessarily interested in the crypto technology they are looking to invest in. So if you are wanting to make money online take a look. I’m making good money online consistently right now doing this.
If you have any questions or comments please leave them below and I’ll try to get back to you soon ?