Crowdyloan review is a full insight of the platform, which will reveal the true picture of the platform and let you see all you need to know about the platform. This review will help you in taking appropriate decision towards the platform and you will be able to know if it worth your time or not.
Crowdyloan is not a new platform and as at the moment of writing this guide, the platform has used some moths online, which prompt a lot of people to seek for the detailed information about the. Platform and know if it’s legit or not before they dive in.
Today, I am going to reveal to you, all you need to know about the platform and if you have been wondering if crowdyloan is legit or scam, worry no more, this guide is going to provide the appropriate answer to your questions and help you in taking the final decision towards the platform.
Table of Contents
What Is Crowdyloan?
Crowdyloan is a peer to per platform just like mypay247, where members of the platform loan each other funds in return for commission. As at the moment writing this review, the platform costs N5000 to become a lender and according to their promise , each registered member can earn up to 160,000 Naira per month.
In the previous line, crowdyloan is described as a platform where members loan each others funds in return for commission, however, this commission will not be paid to you by the person you lend the money, but by a new registered member or an existing members that is Willing to provide a new loan.
In short, crowdy loan is a peer to peer Ponzi scheme just as mypay247 as it have been mentioned in the previous part of this review. However, the pattern of crowdyloan loan is quite done deferent from mypay247 as is has levels and the more your level increases, the more money you make from the platform.
At this beginning, when crowdyloan was lunched, the Minimum donation is just N1,000 and with N1000, you will get five people to donate 1000 each to you in return and you can now move to the next level. But as time goes on, the platform increases the fee from N1000 to 5000 naira due to a reason that via best known to them and if you continue to read this crowdyloan review carefully, the reason why they did so will be clear to you.
Crowdyloan is it legit? I know this will actually be the main question running through your mind right now, but you have to relax and read the basic information and some breakdown of the platform, while reading this, you will be able to rate the platform yourself and decide if crowdyloan is legit or just another scam.
How Does Crowdyloan Works?
A brief picture of how crowdyloan works has been shown to you in the about section above and in this section, we will discussed further, how the platform works and with the information to be provided in this guide, you will be able to have some hint on how legit is crowdyloan.
As at the moment of writing this crowdyloan review, the platform has six lending levels and to become an active member on the platform, you will have to provide a loan of 5000 naira to an existing member of the platform that has provide a loan and waiting for his/her returns.
Below is the detailed information about each levels on the platform;
This is the default level on the platform and immediately you complete your registration, you will automatically be a level Zero member of the platform until you decided to move to level one by providing a loan of 5000 naira to an existing member of the platform.
This is the first level on the platform and it requires a total of N5000, you will have to give loan of the amount above to an existing member of the platform and once they confirm your donation, you will be upgraded to the level one immediately. Once you’re on the level one, you’re qualified to get 5000 from two members of the platform in 24hours or as the case may be.
This is the second level on the crowdyloan platform and to upgrade to this level, you will have to provide a loan of N10,000 to a member of the platform and once the person confirm your donation, you will be upgraded to level two automatically, giving you the opportunity to receive a Whopping sum of N20,000 in 2 days.
This is the third level on the crowdyloan platform and to upgrade to this level, you will have to provide a loan of N20,000 to a member of the platform and once the person confirm your donation, you will be upgraded to level three automatically, giving you the opportunity to receive a Whopping sum of N40,000 in 4 days.
This is the fourth level on the crowdyloan platform and to upgrade to this level, you will have to give loan of N40,000 to a member of the platform and once the person confirm your donation, you will be upgraded to level four automatically, giving you the opportunity to receive a Whopping sum of N80,000 in 8 days.
This is the fifth level on the crowdyloan platform and to upgrade to this level, you will have to provide a loan of N80,000 to a member of the platform and once the person confirm your donation, you will be upgraded to level four automatically, giving you the opportunity to receive a Whopping sum of N160,000 in 4 days.
That’s the complete breakdown of each levels on crowdyloan and how they works, the above breakdown clearly shows that with just 5000 Naira, you will be able to make 160000 naira in just 30days. Once you provide your first loan, you’re not expected to take any money from your pocket again, you will be using your income from the previous level to move to the next level.
The crowdyloan registration is very simple and straight forward, all you have to do is to go to crowdyloan registration page and fill in your details, you will be asked for your name, phone number, email address and as the case may be. Once you provide all the required information Click on the register button and you will be redirected to your dashboard.
You will see a notification telling you to verify you account with a code, open the mailbox of the email address you provided during the registration, you will see the crowdyloan confirmation code, copy it and input it into the box provided on your crowdyloan dashboard. Click on verify button and your account is verified.
To login to your account at any point in time, simply go to the crowdyloan login page, input your registered email address and the password you set during the registration, you will be taken to your account dashboard immediately.
Crowdyloan Referral Code
Crowdyloan also have a referral program that gives you the opportunity to earn by inviting others to the platform, it’s a reccuring Commission and anytime your referral provide a loan, you will earn a certain percentage until they stopped giving Loan.
In other to be able to refer others and get commission on their activities, you will need the crowdyloan referral code, this will help the system to Know who referred who and which account to send the commissions to.
To get your own crowdyloan referral code, kindly login to your crowdyloan account and click bon the menu bar at the top left corner of the site, select referrals and you will see your referral code and link.
In this section, I will tell you if crowdyloan is legit or not, with the information to be provided in this section, you will be able to know what the platform is up to by yourself. Before telling you if crowdyloan is scam or legit, let me outlined some green and red flags we have found on the platform with our analysis.
- The platform has been operating for a long time.
- You will use N5000 to get N160,000, it sounds appealing.
- The platform is easy to understand.
- It has a bit interface.
- It’s a peer to peer platform.
1. The platform has spent some months online as at the moment of writing this crowdyloan review, and it’s obvious that the earlier you joined, the better for you. This implies that the earlier is gone already.
2. The platform has increased their minimum investment from 1000 to 5000 naira and this is one of the major red flag in any platform that operate in such manner.
3. It’s a Ponzi scheme and won’t be paying forever, we might even say they have overstay their time, maybe.
4. It’s peer to peer if they peer you with someone that isn’t ready to pay, you will have to wait for extra 12hrs before you can be able to take any action.
5. The person they peer you with might lie to have paid you when he/she hasn’t, this will make the transaction enter dispute and resolution might take time.
6. For the platform to be active, a lot of people must be joining ona daily basis and the number of giver must be higher than that of receiver, which I doubt, cause the platform is getting old already.
Is Crowdyloan Legit?
With the the detailed information provided in the red and the green Flags section of this guide, I think you should have gotten one or two fact to take a proper decision of if the platform is legit or not. However, if you’re to try the platform, make sure you can afford to loose the 5000 naira you’re about to risk as the outcome is 50/50.
Is Crowdyloan Scam?
Crowdyloan is a peer to peer platform and the website is still much available, this implies that if you provide loan, you will be able to receive loan as well, whenever someone opt in to provide new loan. In this case, the platform cannot be pronounced scam yet, but you have to be very careful if you must give them a trial.
Did you know that you can actually get free 1500 just to download and install an app? You will also get N2000 for every individuals you refer to the app and guess what? The registration is completely free and withdrawal is instant, kindly check our detailed guide on how to make money on lcredit app for free and learn how it works.
Crowdyloan Customer Care Number
A lot of people have been looking for the crowdyloan customer care number and in this section, I will tell you how to get in touch with crowdyloan customer care representative whenever you need to.
If you want to contact the crowdyloan support, kindly mail your complaints to [email protected] and wait for their response.
Conclusion: Crowdyloan is a Ponzi scheme platform as many other platforms we have known in the past and with the detailed information that has been provided for you in this crowdyloan review, I am sure you have learnt all you need to know about the platform and have full hints on whether to give it a trial or zoom off.