Take Fund is a cash gifting MLM scheme based around the Bitcoin cryptocurrency.
What Is Take Fund?
According to the company website, Take Fund was founded by brothers Greg and Ben Foster, a pair of entrepreneurs with 10 years of internet marketing experience. The site claims to be hosted in Belize; the registration for the site is through a private domain registration service.
There is no actual Take Fund product. Instead, for a fee of 0.02 Bitcoin (BTC), individuals can become a member of the site. That fee goes directly to the individual who recruited or sponsored the individual. In turn, new members can sponsor others in order to receive 0.02 BTC in turn.
The monetary value of Bitcoin can fluctuate wildly. As of December 2016, 0.02 BTC was approximately $20 USD.
The opportunity presented by Take Fund is an MLM cash gifting matrix. New members provide 0.02 BTC and then recruit two new members of their own, each of which pays the original member 0.02 BTC for a total of 0.04 BTC.
Each level of recruits deepens the possibility of receiving cash gifts from your downline – if your two recruits refer two people of their own to you, then if you make subsequent gifts up your own line you're entitled to more gifts in return. The scheme is as follows:
- Level one – Gift 0.02 BTC to receive 0.02 BTC from 4 affiliates
- Level two – Gift 0.03 BTC to receive 0.03 BTC from 4 affiliates
- Level three – Gift 0.06 BTC and receive 0.06 BTC from 8 affiliates
- Level four – Gift 0.24 BTC and receive 0.24 BTC from 16 affiliates
- Level five – Gift 1 BTC and receive 1 BTC from 32 affiliates
- Level six – Gift 3 BTC and receive 3 BTC from 64 affiliates
The maximum monthly payout, according to Take Fund, is 228 BTC – a massive sum of more than $200,000.
The key to making money using Take Fund is thus in constantly re-investing your gifts from your downline and encouraging affiliates under you through six levels to continue recruiting on their own.
Take Fund is a traditional cash gifting scheme matrix with a simple twist of using Bitcoin instead of fiat currency like the USD or the Euro.
However, this simple difference doesn't change the fact that cash gifting schemes only work until individuals interested in entering the matrix at the bottom realize they're not going to be able to recruit enough people under them to make the entire scheme profitable for them.
When this occurs, the inevitable result is that the gifts stop flowing upwards to the top of the pyramid and the entire scheme collapses.
This is, sadly, a common scam that has been perpetrated for many years in many different forms.
Sites such as Take Fund spring up rather regularly, capitalizing on credulous individuals who think that they can crowdfund their way to wealth, only to have the top levels of the pyramid, usually filled beforehand by the anonymous admins of the scheme, make off with the lion's share of the wealth after the whistle blows.
At first glance it may seem that Take Fund is different because it lists the Foster brothers as the owners of the site.
However, our investigations have failed to reveal that these two people exist in any way. This is, again, typical of scams of this type, as remaining anonymous makes it easy to get away with all the money those at the top of the ramp are collecting.
This is made worse by the fact that this cash gifting scheme is done exclusively in Bitcoin, as the cryptocurrency is unregulated and decentralized; there is no legal recourse for anyone who feels they have been taken advantage of, and this is almost certainly what the creators of this site had in mind when choosing to run a Bitcoin-based scheme.
In the end, it is highly recommended that you do not become involved with Take Fund. The site is likely a complete scam, and unless you get in at the very top of the gift pyramid – wholly impossible, unless you've created it yourself – you're never going to receive the vaunted 228 BTC payout.