ibisppp.cc is a website that claims to be paying users nearly 20% interest on a daily basis when they fund and buy one of the products available on the site. If you have ever participated in any “interest-based” earning platform, you would understand the nature of the product being talked about — while sites like ibis are very common in today’s Nigeria due to the worsening economic circumstances, very few people actually grasp the risks associated with participation.

So in this article as always, we will be having a detailed look at ibisppp.cc, a website that claims to be paying users interest for depositing/funding their wallet and activating one of their products. Platforms like this thrive by word-of-mouth, they get launched by some faceless individuals and pay out to a few users, who in turn lure and persuade others to join and then, slowly, the coast gets wider and in a very short while alot of participants are already earning from the platform.

About ibis

ibisppp.cc is an interested based earning platform where users spend their own money to buy some products that can yield extra revenue on a daily basis. I tried to do the calculation and found out the daily interest is nearly 20% of whatever product activated by the user and you can withdraw your money at anytime; once you’ve attained the minimum threshold set by them.

It’s not the first time we are seeing this kind of websites and it’s not the first time I’m reviewing such. Like I said, the growth of platforms like this comes from word-of-mouth which is most promoted through their referral program. This brings us to another important discourse — the earning methods or ways of earning on the platform.

Earning Methods

There are three ways of earning on the platform and if you are able to utilize the methods well, you will be able to earn some income before the inevitable happens;

1. Referral Program

As is tradition, ibisppp.cc has a referral program that spreads across three levels. You earn 25% from your first level referrals, 3% from the second level and 2% from the third level. You earn based on the amount spent by your referrals. So let’s say you invite someone and the person decides to buy a 4,000 plan, you earn 25% of the amount and also earn more when the referral decides to invite others.

You can easily get your referral code or link directly from the platform after you’ve created an account by clicking on Team. There you will find the breakdown of the bonuses you stand to earn by referring others users and the interesting aspect is, you don’t necessarily have to deposit money if you have the means to build a team.

The withdrawal conditions are quite different from what is obtainable on other schemes. Here you qualify to withdraw if you are able to invest i.e. Buy a product or one or more of your referrals invest.

2. Buying A Product

This is another way to earn on the platform or perhaps, the main way to earn. If you invest on a product, you earn nearly 20% interest per day and can withdraw the accrued revenue at anytime once you’ve reached the withdrawal threshold.

To buy a product, you have to first of all, recharge your wallet on ibis and then tap on Products, select the one you can afford based on the available amount in your wallet and then proceed to buy or submit.

The income will be credited to your balance every 24 hours and can be withdrawn directly to your local bank account when you reach the threshold.

3. Daily Rewards

Users can claim daily check-in reward of 20 naira. You can access this bonus by clicking on Award while on the homepage and then proceed to claim it. The bonus is available to everyone including users who are yet to invest or buy a product. While it’s not significant in any way considering the aforementioned earning methods, there is no way one could be discussing or talking about the platform without mentioning the daily rewards.

Withdrawal Process

The minimum withdrawal is 600 naira but on the homepage, the information provided to users is 1200. But upon checking it myself I discovered the threshold is 600 naira, meaning you can withdraw once you have earned up to this amount.

Upon sign up you are given 600 naira but can’t withdraw until you buy a product or refer others who invest in the system. Once you have met the withdrawal conditions, click on Mine, then tap on Withdrawal, enter the amount, add your bank account details and submit.

According to the information on the withdrawal page, it takes anywhere between 30 mins to 24 hours for the payment request to be processed and there is a 16% service charge on every withdrawal.

Therefore, don’t expect to receive the full amount withdrawn.

Is ibisppp.cc Legit or Scam?

ibisppp.cc is not legit. It’s a ponzi scam designed to defraud users in the end. It may be paying at this time but this won’t be the case for long as such sites are only designed to pay a few users to lure in more users before the administrators either get greedy and close down the website or the pressure goes beyond what they can pay.

Why does the pressure get so high? Well, it’s because there is no feasible nor sustainable way to pay out such huge interest on a daily basis as they don’t generate money from any external sources, the false interest you see are generated from other users who made deposits and not from any investment or business.

They are basically rotating funds between the depositors and the users who are making withdrawals and when the new users stop coming in en masse, the site will start finding it difficult to honour the payments and then everything will crash.

Pros

Despite the fact that ibis is a ponzi scam, there are some pros or positive things about it for people who may have already joined or made up their minds to join regardless of what we’ve discussed;

• Lower minimum withdrawal amount
• Low minimum investment amount — which if utilized adequately could reduce the total risk of the user.
• Registration bonus of 600 naira to get started
• Highly rewarding referral program with a flexible withdrawal conditions.

Cons

The cons of any ponzi scheme outweigh the possible pros and they are;

• High risk of losing money — all ponzi schemes will crash at one point, no matter how “good” the administrators are.
• ibisppp.cc is designed in a hit-and-run manner meaning the site will most likely not even last for up to three weeks.
• Hidden owner identity — meaning, no one to hold accountable when it crashes or stops paying.

Conclusion

ibisppp.cc is a scam. It’s not legit. There is no sugarcoating the reality as it’s been globally established that all ponzi schemes are not to be trusted. So participation after reading this article could just be regarded as sheer stubbornness or intentional ignorance.

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