Wombia makes a blanket claim of being an investment company, with expert teams of investors making profits from volatilities.
That’s a general description of Wombmia as it appears on the website. Naturally, anyone reading this information on the About Us webpage would want to learn more than the glancing swipe given here. However, Wombia doesn’t explain further, which cues the issue with High Yield investment platforms.
You may have to take the ROI promises from such companies with a grain of salt. Here is why.
Bar the unlikely chance of making sustainable profits from volatilities of cryptocurrencies in less than a year of booting ops, Wombia does not mention any experiences or revenue streams. That ought to be the bone to chew before throwing in with an ROI tableau.
What does any non-Wombia exec know about the company, though? The answer is NOTHING. The mentioned About Us page is a deflection. Instead of saying anything crucial about the owners, it merely talks about leveraging tech to generate profits.
Shallow-content ROI ads sites offering returns on crypto investments tend to end in Ponzi. We’ve had the pattern repeating on the Internet before, with investors looking to make profits from unsustainable investments, often pyramid schemes.
As per legitimacy, Wombia merely provides an incorporation cert, which isn’t an adequate SEC index for an investment company.
Regardless, the company promises that affiliates can earn forty percent (40%) of the transaction fee per individual referred to the platform. It also offers other loyalty perks. Learn how it works in this article.
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Wombia: Does the Company operate out of the UK or Nigeria?
An incorporation cert from Nigeria appearing on the site piques the visitors’ interests. So, you may be wondering if the company is an offshore project from a private enterprise in Nigeria.
The Wombia website doesn’t provide enough information to pin its owners’ location. However, there is a 50/50 chance of pit belonging to someone else than a Nigerian. Any Nigerian player would be executing a delegated contract for the parent company. La Buena Vida, IM Academy, CFX Forex, Norderworks, and a bunch of other MLM stints are precedents to this issue, with each group fronting a local as the brand owner.
Although the Nigerian SEC typically checks such unregulated High Yield scams, it is also lax in some cases.
Accordingly, the Nigerian SEC already issued a series of public warnings against unregistered forex and VI (volatilities index) brokers in the country, roping MLM stints like Obaforex and Wales Kingdom Capital in the same unregulated enterprise category.
So, Wombia would be undermining the SEC authority, regardless of any incorporation cert it offers.
On the flip side, operating with the said incorporation in the UK does not guarantee a scam-free portfolio. However it plays out, offering an unlisted foreign stock in Nigeria violates Section 67-70 of the Investments and Securities Act (ISA), 2007, which does not differentiate DeFi or Fiat investments.
Should I invest in the company if I reside outside Nigeria?
It would depend on Wombia offering sustainable profit models. See the section below for the 40% bonus per referral.
Affiliate Compensation Plan
Members typically earn from a fourfold option: Start Up, Trader, Professional, and Evolution. Below is how it works.
Evolution ($50000) _ pays three hundred percent (300%) ROI accumulated over hundred days as three percent (3%) returns.
Professional ($25000-$49999) _ pays three hundred percent (300%) ROI accumulated over one hundred and twenty (120) days as 2.5% returns.
Trader ($10000-$24999) _ pays two hundred and sixty percent (260%) ROI accumulated over one hundred and thirty days as 2% returns, which requires members to reinvest 50% of the principal.
Start Up ($25-$9999) _ pays two hundred and twenty-five percent (225%) ROI accumulated over one hundred and fifty (150) days as 1.5% returns, which requires members to reinvest 75% of the principal.
Wombia advertises a 40% bonus per transaction run by an affiliate’s referral.
Also, affiliates can earn profits from the Binary Team reward cycle. Below is how it works.
The affiliate’s personally recruited members fill the First Level. The First Level referrals boot the Second Level by recruiting people to invest in Wombia. Subsequently, the recursive arrangement results in the typical MLM binary compensation grid. See clip below.
Although the fixed profit accruing from downlines is 10%, it depends on the affiliate’s membership subscription tier as a qualifying threshold. Thus, Evolution earns $10000 bonus caps. Professionals earn $7500, Trader earns $5000, and Start Up earns $2500.
You can sign-up for an affiliate pack for at least $25 or equivalents in BTC, Tron, LTE, or Dodge coin.
Do profit-remitting membership tiers guarantee profits? No
Is Wombia Legit?
Regulations-wise, Wombia is not legit.
As per the Wombia profits from cryptocurrency volatilities, BTC is only plummeting since 2022. How does that factor in the profit margin?
International communities are currently leveraging bonds, stocks, and Gold. Some businesses prefer cash to contracts. Also, crypto brokers look to benefit from a long haul depending on possible BTC value spikes.
Yet, an anonymous unregistered public investment company brandishes a 300% ROI without a single proof of revenue generation from the backend.
Moreover, Wombia would require a stock listing or, at least, basic SEC registration to hold any IPOs lawfully. It doesn’t have any of those. The website also doesn’t show any evidence of trade.
Until Wombia provides substantial info about backend investment, members merely depend on MLM pyramid reward cycles to earn profits.