I have made it my business to look at some of these ‘make money online schemes’ like Smarthela and live auctions that are siphoning money from the youth in the Kenyan tech space with the promise of making them rich in an instant.
According to an article on Google, SmartHela is a new referral-based program launched on 10th April 2021 and allegedly available in 5 different countries, Kenya, Tanzania, Nigeria, Uganda, and Rwanda.
To earn on SmartHela you must join and pay the activation fee of KSh 450, after which you refer friends and earn KSh 250 per person you refer. That’s about it. There are some other fancy lies like forex trading and blogging, you won’t cash out on those, it is strictly a referral program. So is Smarthela legit?
What Is a Ponzi Scheme?
A Ponzi scheme is a fraudulent investing scam promising high returns with little risk to investors. A Ponzi scheme is a fraudulent investing scam that generates returns for earlier investors with money taken from later investors. They are based on using new investors’ funds to pay the earlier backers.
These schemes tend to eventually bottom out when this flood of new investors dries up and there isn’t enough money to go around.
I can list dozens of such companies and the key point is all Ponzi schemes focus all of their energy on attracting new clients to make these investments.
Does SmartHela tick these boxes? Tread carefully.