When it comes to making money, whether it is online or not, one of the opportunities you will find is network marketing or more commonly known as multi-level marketing (MLM).
This type of opportunity is basically a company relying on people to promote and network the product and services they are offering.
You will be given a commission every time you are able to refer people to avail or purchase a product. Each MLM company will usually have its own version of the earning system, but it’s generally about getting members’ network to be buyers.
One MLM that we’ll discuss today is OneLife, which offers products and services that are geared towards professional and personal development. You will get a commission for selling one of their packages.
But the difference with this MLM is that the products or services they offer include a token you can use to mine OneCoin, which is a cryptocurrency that is going to launch on the open market on January 7, 2019.
But is OneLife a legitimate MLM opportunity or is it just another scam that you should be wary of?
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OneLife Seems to be a Scam and It’s Advisable to Stay Away
OneLife is an MLM company that is offering products and services that are designed to provide professional and personal development to people.
This basically means they are selling educational products and services. To make it enticing, they connected it to a cryptocurrency called OneCoin.
You will be given a commission for selling the different packages that the company offers. A portion of your commission will go to cash, while another portion will go to a Currency Trading Account.
There are also matching bonuses, which is typical of an MLM opportunity. But the big draw here, of course, is the potential value that OneCoin has when it finally launches.
Now, based on what OneLife offers, it’s not really easy to label them as a legitimate opportunity, considering that the MLM is focused more on recruiting and the cryptocurrency.
Yes, the company offers educational courses, which focuses on teaching finance and foreign exchange. They also have a cloud software and a physical tablet available.
But the main focus is still on recruiting and the OneCoin cryptocurrency, which doesn’t really show that the company is serious about their real offerings.
As we go further into this review, I’ll discuss more reasons why OneLife seems like a scam and why you should be staying away.
Who is OneLife Made For?
Based on what the company is offering and promoting, OneLife is made for two types of people, with one being those who want to increase their knowledge about finance in general and trading in the forex market.
The other type are people who are looking for ways to earn some money. OneLife offers several educational courses about finance and the financial markets, as well as trading in the forex market.
They have several packages that you can avail, which can help increase your knowledge. When you purchase a package, you will also get their token, which can help you mine OneCoin.
The OneCoin is not yet available publicly, but it will be launched in January of 2019. Other than learning more about finance and the forex market, the site also provides ways to earn some money.
They have a referral program, where you can earn a commission whenever you get people to purchase the educational packages they are offering or the other products available on the site.
As mentioned above, though, it’s hard to label OneLife as a legitimate way to earn money, considering the site seems to be focusing more on the cryptocurrency than on the educational materials they offer.
And if this is really going to be the focus of OneLife, then there will be some problems. I’ll explain in the next section why this is the case.
How Do You Earn on OneLife?
As mentioned above, OneLife is an MLM that promotes several educational materials about the financial market and forex market. As a member, you will be promoting these products and the company will give you a commission.
But attached to these products, is a token that you can use to mine a form of cryptocurrency that the company is promoting, which is called OneCoin.
Before we go to the cryptocurrency, I’ll discuss first the education packages and how the commission system works. The company offers seven education packages to people, which vary in prices.
These education packages are just basically a set of videos that will teach you about certain topics about finance, financial markets, the stock market, the forex market, and more.
The cheapest is the free one, which is basically an introductory video of what you will learn if you enroll in any of their courses.
The remaining 6 are paid courses with the cheapest being €110 and the most expensive at €55,555. What package will suit you will depend on your knowledge level.
To earn money, you will just need to promote these packages. You will earn 10% commission on each package you sell. You don’t need to purchase the package, but it would be easier to promote it if you’ve used it.
Now, 60% of your commission will be deposited to your cash account while the 40% is deposited to the company’s Currency Trading Account. Aside from the commission, you will earn via the Team Bonus.
Like all MLMs, OneLife has a binary system, where you will have a right side and a left side. You will basically be earning 10% of the side with the lowest sales volume at the end of a sales cycle.
For example, the left side earned you a total of €5,000 while the right side generated €6,000. You will be getting €500 in commission from this sales cycle. The sales volume of the right side will be banked for future totals.
Other than these two ways to earn, there’s also the Team Building Commission Ranks, Personal Group Volume, and Team Building Match Bonus.
As mentioned above, the packages that you and your referral purchases are coupled with tokens. These tokens are what you will use to get access to the OneCoin mining pools.
The number of tokens you can get will depend on the package. But the more tokens you have, the more OneCoin you can get.
So what is wrong with connecting it to a cryptocurrency? Well for one the cryptocurrency has yet to be launched for public use and the company has been saying that there are already a lot of merchants supporting it.
In reality, though, the coin has yet to get any support from merchants. So what they did was launch the DealShaker.com site to serve as the platform where you can use the coin to purchase great deals.
As of the moment, this is the only platform that still supports the coin and this is owned by the same company who developed the cryptocurrency.
The value of the coin there is also not based on market valuations since the coin has yet to have a market value. It was supposed to be launched publicly in June 2018 but it was pushed to October.
Now, it’s scheduled again to January 2019, which shows the company is really having problems launching the coin.
The educational courses are just smokescreen for the actual product, which is the cryptocurrency. I say this because the education they’re offering is not really new.
There’s also no way people will pay as much as €55,555 for an educational course that will likely last for a few days and provides information freely available on the internet.
So the cryptocurrency is really the main product OneLife is offering and from the looks of it, it seems like they’re having issues making it available in the market.
What I Liked about OneLife
After learning more about OneLife and what they are offering, it’s time to discuss if there’s something to like about this opportunity.
- There’s really nothing to like about the opportunity that OneLife offers. The educational materials offered, though helpful, are things that you can find online for a cheaper price, or even for free. So there’s really no value to what they are offering other than the cryptocurrency, which currently doesn’t have any value as well.
What I Disliked about OneLife
As for what I disliked, there are actually a lot of things about OneLife that did not sit well with me and I’ll discuss them here.
- The first thing that I didn’t like is that OneLife fronts itself as a company that educates people when it comes to financing, the financial market, forex market, and more when in reality it’s actually designed to promote the OneCoin cryptocurrency.
- Another thing that I didn’t like is that the prices for the educational courses they offer are out of this world, especially if you consider that what they’re offering can be learned at a cheaper price or even for free.
- I also don’t like that OneLife is putting 40% of your earnings in their currency trading account, which somehow forces you to really invest in whatever services they are offering. I would prefer to get 100% of my money so I can use it however I please.
- I’m also not a fan of OneLife delaying the launch of the cryptocurrency a lot of times, which shows that the coin their promoting is really not yet ready for the public. This also puts into question a lot of their advertisements and marketing materials. They advertise the coin as something that is almost close to launching and it’s better to get in early before prices go up, when in reality it is very far from being ready for the public market.
Do I Recommend OneLife?
After learning more about OneLife and what they are offering, I don’t want to recommend this opportunity, especially considering that their main product, the OneCoin cryptocurrency is far from being ready.
The company started in 2014, which shows that their cryptocurrency is already 4 years in development and it’s still far away from actually being launched.
The educational courses they are offering, though useful, is very expensive and can actually be learned elsewhere at a cheaper price. You can even find some of the information there on the internet for free.
So there’s really no value in investing your money on OneLife, which is why it’s best that you stay away and look for a different opportunity.