Is Live Auction Cash Legit?

Is live auction a pyramid scheme?

The infamous pyramid schemes are back.

One such contemporary pyramid scheme is Live Auction Cash Kenya, a peer to peer auction service where investors buy shares and earn interest..

Who is the owner of Live auction?

Julian EllisonLiveAuctioneers – A chat with Julian Ellison, CEO of | Facebook.

How long does a live auction take?

between 3-5 minutesA typical live auction item takes between 3-5 minutes to sell (sometime more, sometimes less). So do the math: Divide that amount of time you want to devote to the live auction by 3.5, for three and a half minutes.

Is EarnSmart a pyramid scheme?

Earnsmart agencies is a networking platform created to help people earn through an affiliate program. Well, that’s what their PR states. However, EarnSmart is really just a pyramid scheme with some added opportunities. … This money is then distributed among the members on the upper part of the pyramid.

What exactly is a pyramid scheme?

A pyramid scheme is a fraudulent system of making money based on recruiting an ever-increasing number of “investors.” The initial promoters recruit investors, who in turn recruit more investors, and so on. … Pyramid schemes may or may not involve the sale of products or distributorships.

What is live auction cash?

Live Auction is a company that was launched late June where it auctions mpesa shares allowing one to bid amount you had ,then the system allocates you a seller ,and then send the money to and wait for four days by which the money will have appreciated by 30%,whereby you will be sent the money through mobile money(mpesa …

How does live auction work?

A non-profit live auction is a fundraising method where bidders gather in a chosen location to bid for the various items available on sale. Unlike silent auctions, live auctions involve announcing the highest bid by an auctioneer. Bidders are given a chance to bid again until the highest bidder takes the item on sale.

What happened to live auction in Kenya?

Kenyans Lose Millions As “Investment” Company ‘Live Auction Kenya’ Goes Under. … The company was launched August 24, 2020, and by the time it closed it had 2,265 likes on Facebook and over ten WhatsApp groups full of “investors”. The “investors” were required to deposit a minimum amount of Ksh1,200 to start “trading”.

Is Cloud 1 a pyramid scheme?

Presented with evidence from the BBC investigations, the Crowd1 officials insisted that the company is not a scam or a pyramid scheme and does not break any laws. It is a legitimate network marketing company that offers products to its members and enables the members earn money by marketing those products.

How do online auctions make money?

Using online auction sites to make money is becoming more common, and there is always room for more. This works because there are stores that need people to auction items off, or people bid low and the resell high. … You make money off of each item that you sell with no overhead costs.

What is live auction Kenya?

Live auction is a secure peer to peer(P2P) onlinex investment platform, where members in the system can bid Live Auction shares and sell them at an interest hence making profit. … You can invest for 4 days, 8 days or 12 days with a 30%, 60% and 95% Return on Interests respectively.

When did live auction start in Kenya?

Now, Live Auction which began sometimes in June, actually, on the Twitter account, it boasts of being ‘launched 27th of June 2020′. It boasted of being a ‘Peer to Peer online investment platform where members buy and sell our shares to Make profit’.