Doubleway Review – Ponzi Scheme – MLM Scam

Website & Company Information

The website (“doubleway.io”) provides no legal information of the company. We do not know where the company was incorporated, and its operations are regulated under which regional regulatory body.

The domain was registered on September 4th, 2019 and the owner of the website has kept his/her/their details private.

According to Alexa, the website is getting traffic from Venezuela (8%), Colombia (50%) & Brazil (12%). These three regions are the top sources of traffic.

Doubleway’s — Products | Compensation Plan 

Products

The company has no products or services to market. Their business model is simple — affiliates pump users into the system to get rewards, the users pump more users into the system as affiliates to get rewards — this runs in a loop.

Compensation Plan

Existing affiliates receive ethereum as a gift from newly recruited Doubleway affiliates — via a 2*8 matrix.

In this matrix, an affiliate has two positions directly under it. 
Look at the illustration below to have a better understanding.

3*8 Matrix

Whenever an affiliate recruits a Doubleway affiliate under them, they receive 0.8 ETH as a gift from the new member of the chain — recruited them only. 
And the referral system goes on till 2*8, as shown in the illustration above.

The whole system of earning through matrix works as follows:

Costs to join Doubleway?

Doubleway affiliate membership is tied to an initial 0.8 ETH gifting payment. Its costs around 21.12 ETH a month for full participation in Doubleway’s comprehensive income scheme.

Bottom Line

Doubleway’s model is a comprehensive matrix-based gifting scheme, in which the underlying technology is powered by ethereum smart contracts. Like any gifting scheme, backend calculation and algorithms are same. Affiliates recruit new people and expect them to scam others and pump new users into the system.

Doubleway’s website says the following to counter risks:

Guarantees

Nobody can close your account, to stop payments or make changes to the system, since the smart contract is loaded into the Ethereum network. It can’t be deleted or changed.

Referrals can be invited without a website and referral links but directly into a smart contract.

Therefore, the DOUBLEWAY System will exist as long as the cryptocurrency exist, and the cryptocurrency will exist as long as the Internet exist.

Now to keep the system going, the recruits need to add new people in the system. Otherwise, the project will fail. Only the company’s executives and the early adopter are gainers here, and the rest 90%+ of the users are the potential victims.

With no or slow recruitments, the system will collapse, and your funds will be long gone!