Modern Money Team provides a lot of trading options. However, it is primarily a crypto mining company. ModernMoneyTeam.com does not give any information about the founder of the company. However, research shows that Dan Putnam is running the company. This company is not his venture as he was previously involved in various Ponzi schemes. Since it markets itself as an all-in-one platform for various types of trading, it is important to review Modern Money Tea in detail and determine whether you should invest in it.
What is the Modern Money Team?
ModernMoneyTeam.com claims to provide a straightforward and efficient way of participating in Forex, Binary options trading, marketing programs, and crypto mining. The site states that the company has a qualified and experienced team that is available to help everyone, and you do not need any kind of experience to be a part of this platform.
To attract users to invest in the company, it mentions several benefits of Forex and Binary options trading. The foreign exchange market is the world’s largest market that has unlimited opportunities for traders. Modern Money Team claims to provide you with proper education and training to minimize the risks involved in trading and help you make maximum profits.
Similarly, a binary option is a quick and simple financial tool to help the investors predict the price changes. ModernMoneyTeam.com claims to offer reliable binary options signal analysis and strategies to enhance your chances of making profitable trades in a highly volatile market.
Founder of Modern Money Team
Dan Putnam is the CEO of the company. In 2012, he was running EPX Body, an MLM company. After the collapse of EPX Body, Putnam launched One80 in 2014. Both of these companies were legit because they offered some retail products. One80 was also offering online marketing services. It also collapsed within a year.
After 2015, Putnam launched Let Us Close, another failed marketing company. The Elite Network was the last venture of Putnam before he started Modern Money Team in 2017. It shows that the owner of the company was involved in a series of schemes that collapsed due to less recruitment, legal issues, and lack of funds.
If you start comparing the business models of all of these schemes, you will find a lot of similarities. In fact, it seems like Dan Putnam only keeps changing the name of the organizations, while using the same business model. It would not be wrong to assume that ModernMoneyTeam.com is likely to suffer the same fate as Putnam’s previous companies.
Products Offered by Modern Money Team
You have to spend at least $300 to become a part of the compensation plan of the ModernMoneyTeam.com A maximum amount of $3000 can be invested in mining. The website does not give any specific information about any monthly fee, but some statistics indicate that a $20 fee is necessary to keep your affiliate membership active.
Modern Money Team does not have any retail products or services. You can only participate in the trading practices after buying its affiliate membership. The company’s promotional video says that the platform offers various schemes and investments for the mining pool and earning profits from crypto trading.
It clearly has a marketing problem. ModernMoneyTeam.com focuses on forex trading and binary options and hardly mentions any substantial information crypto mining. On the other hand, the marketing videos of the company mainly targets crypto trading and mining. It even says that users will be able to learn all concepts of mining crypto coins through this platform.
Presenting contradictory information on its official platforms is a significant red flag about Modern Money Team. It is not a good idea to participate in company that is not sure about its own services. Instead of investing in this suspicious platform, you should invest in the authentic crypto cloud mining companies that offers flexible account plans, excellent customer support, and transparent working mechanism that helps you in making maximum profits.
Compensation Plan of Modern Money Team
Affiliates have to invest an amount anywhere between $300 to $3000 to take part in the income plan and earn passive ROI. The company markets its highest investment of $3000 as some sort of mining machine that will provide you huge profits.
Overall, the business structure is quite complex and confusing. ModernMoneyTeam.com promises 1% revenue on $300 investment and 75% of the mining operations for the maximum investment. The compensation plan is explained through the following affiliate ranks:
- Promote Rank includes investing in a mining machine and hiring at least one customer.
- Qualified Promoter Rank includes investing in a mining machine and hiring two members.
- Manager Rank includes generating at least $1000 from the mining scheme.
- Regional Manager has to hire at least six members and generating $2500.
- Vice President Rank includes generating at least $5000 and hiring ten members.
- Global President is the highest affiliate rank that means generating $7500 and recruiting twelve members.
Most of these affiliate ranks demand a huge amount of investment while giving back a very little amount of profits. It means the business model heavily favors the top management of the company while the new affiliates have very less opportunities for earning money.
Modern Money Team promises the following commissions on directly recruiting the affiliates:
- $200 commission for hiring a member who invests in $3000 mining machine
- $20 commission for hiring an affiliate who invests in $300.
The compensation plan is quite ambiguous because it is not a clear amount of profits, and commissions are given to members who invest any amount between $300 to $3000.
A typical binary compensation structure is adopted to distribute residual commissions. An affiliate is at the top of a binary team while the first level has two positions. After splitting the level one positions, four new positions are created. The same process continues until unlimited levels. ModernMoneyTeam.com does not specify any limit to the total number of the binary teams.
The company promises daily ROIs. There is no indication that the company actually pays this amount. Even if it pays the commissions, they are very insignificant compared to the amount of money you actually have to spend on the platform.
Final Verdict About Modern Money Team
Modern Money Team uses a hybrid business model of affiliate membership and crypto mining pool. It has very weak marketing strategies. Mixed messaging has made this company a highly suspicious platform. Furthermore, the site says that it has renowned partners in Forex and crypto industry. Yet, it never mentions any specific name.
The company is enticing users to invest in the company and make great profits in the form of passive income without any payment proof. It also has very shady origins, to say the least. The company does not give any information about where it is running. However, the domain insights show that it is running from Utah.
Finally, keep in mind that the owner of ModernMoneyTeam.com, Dan Putnam, was previously involved with many failed similar schemes. It means that the Modern Money Team is not a trustable platform. There is a very high chance that it will collapse soon, just like previous companies of Putnam.
Therefore, you should invest in the crypto cloud mining companies that crypto cloud mining companies that offers efficient services and mining strategies to earn maximum profits. Moreover, such companies are much more reliable than companies like Modern Money Team that eventually collapses due to lack of recruitment.