What is Vitae? Is Vitae social network a scam, multi-level?

Recently social network Vitae is an emerging name mentioned in the media with attractive and quick money-making opportunities. However, many have questioned whether this is a new form of multi-level fraud.

To answer this question, let's find out with lamchutaichinh.vn through the article below.

What is Vitae?

Vitae social network was officially launched on December 26, 2018 in Switzerland by Michael Weber and his associates.

Basically, Vitae is like any other social networking site. Here you can perform familiar actions such as posting, sharing, commenting, liking articles, tagging friends, viewing ads, etc. The biggest difference is the decentralized mode and according to the instructions. Referred from the founder, you will receive money for using this site.

See more: Enrichment is not difficult with 7 expensive secrets

Reasons to be able to earn money when participating in Vitae

Today's social networking sites such as Facebook, Twitter, Instagram, Tiktok ... are gradually becoming an indispensable "spiritual food" in everyone's life. This is not only a place to entertain, exchange and meet, but also a place to study, work and update news.

Users are always attracted by social networking sites with outstanding and unique features. Therefore, with the decentralized mechanism that Vitae owns, users are even more attracted to being able to earn extra income just by participating in social networks.

This is Vitae's competitive advantage compared to other social networking sites in the market. If you invest brainpower to create highly creative engaging content, you will receive a reward from the system if someone else shares your content.

How to make money from social network Vitae

According to the referral, the user will be paid up to 90% of the proceeds from the operation of Vitae. Therefore, every action such as posting, commenting, liking or sharing that you do can make money. In particular, this website encourages users to invite new users to use.

Vitae pays users according to 4 types of income matrix mechanisms: 3×8 purpose matrix 5×5 garden matrix, 2×10 destiny matrix and finally an inversion matrix.

5×5 Matrix: Each member participating in Vitae will be randomly assigned on a global scale to a 5×5 matrix. When this matrix has enough people, you will be able to collect the amount of 346 USD.
3×8 matrix: When the 5×5 matrix is full, the system will automatically deduct $200 and convert you to the 3×8 purpose matrix type. You can also choose to switch from a 5×5 matrix to a 3×8 matrix immediately by upgrading to the $200 package and now you will earn a maximum of $28,000/month.
2×10 matrix: New members entering from the end of the month will be classified into a 2×10 matrix by the system.
Inverted Matrix: The last participant will be reversed to first place and vice versa. When this matrix is full, the participant will receive 9,300 USD.

The true nature of the Vitae Social Network: is it a scam, multi-level?

Because of this quick way to earn money just by playing, many people have questioned whether this is a potentially risky scam project. To better understand this issue, we need to analyze some aspects below:

Business model

As mentioned above, Vitae has the same operating mechanism as well-known social networks such as Facebook, Instagram, LinkedIn, etc. However, this website is described as having many outstanding advantages over other networks. other societies in the market.

Specifically, Vitae's positioning is a decentralized social network that shares 90% of its revenue to participating members. In addition, this social network also issued its own cryptocurrency called Vitae Token, which is traded mainly at HitBTC - an exchange that is not very reputable for the crypto user community in Vietnam.

In addition, its business model has many questionable points with a somewhat unrealistic development plan.

Therefore, what Vitae can achieve with the vision they paint is completely remote. Moreover, it is extremely absurd to promise to pay up to 90% of revenue to users. Such a huge revenue rate is usually only seen in scam projects like Crowd 1 with 80% and My Aladdinzs being accused of fraud, but the refund when shopping also only stops at 80%, …

The source of the social network Vitae

Continuing the problem above, where does their money come from when promising 90% of the revenue will be shared with users?

According to the statistics of Similarweb - a website specializing in statistics of more than 80 million websites in the world, each month, Vitae page has less than 200,000 visitors. Of which, 70% of the traffic comes from Vietnam.

If calculated according to the current price of Youtube views in Vietnam, Vitae will receive 50 VND / visit.

We perform the calculation: 200,000 x 50 VND = 10,000,000 VND

Thus, it can be seen that with 200,000 visits, each month this page only earns about 10 million dong of advertising money. This is even a relative number because Vitae does not always have advertising customers and it does not have any fundraising actions from individual or institutional investors.

If that 10 million dong is divided among 200,000 users, the profit that the participants receive is also a negligible number. Therefore, paying attractive profits is a fabrication. Thereby, we can realize that Vitae has signs of following the Ponzi model - a multi-level fraud method by taking money from the latter to pay the former.

Multi-level system

It can be seen that with the above monetization mechanism, Vitae's income matrix is built based on a multi-level model. Upline people will receive a commission from taking advantage of the downline to build a system of matrix trees and so on, the commission will be transferred to the person on the top line - the leader of the system.

This is indeed a familiar identifying feature of the multi-level fraud models that TV and radio have always warned about.

Legal

Vitae is a multi-level social networking site. Although it cannot be said that all multi-level models are scams, most multi-level projects when returning to Vietnam are transformed into fraudulent projects to appropriate users' assets.

Legally, Vitae also has many other questionable points. The proof is that although its capital attraction activity is very strong through the purchase of positions in the matrix trees in a multi-level form, Vitae is hardly subject to any regulatory authority. mainly takes place in the community through some individuals claiming to be the "leader" of the system.

Founding team

In the introduction to Vitae, lamchutaichinh.vn introduced the father of this social networking site, Michael Weber. Regardless of the remaining 5 associates, if you just search for information about CEO Weber, you will find this guy really can't be trusted.

Before Vitae, Weber founded various Ponzi schemes and matrix income schemes. In 2014, Weber founded X100K, promising to reward participants according to 4 types of matrices with rewards ranging from $0.25 to $25. At the moment, the X100K page has been exposed as a scam project and is no longer accessible.

Not long after, in 2016, Weber continued to participate in the PIF2 Cash project, which is described as giving users the opportunity to earn $3,000 when they spend only $27. Once again, PIF2 Cash is accused by users of a multi-level Ponzi scheme.

In 2017, Weber continued to establish Coin Nuggets and the project also operates under the Ponzi model. After Coin Nuggets, this person joined BitConnect with Trevon James, the project that later became the scam of the century in the field of cryptocurrency. According to survey data, Vietnam is the country with the second highest amount of money poured into BitConnect in the world with about 18 million USD per week.

Clearly, Vitae founder Michael Weber is a well-known fraud expert with a familiar trick of drawing up projects with generous bonuses for participants. So, try to ask if his brainchild is worth trusting? Or is this a new sophisticated scam?

The role of the referrer

The task of the referrer is to attract as many people as possible to participate in the social network Vitae the better. Although they are not people with financial, investment or technology knowledge, they confidently offer attractive numbers, promises of rewards, salaries that hit everyone's greed to invite participation. family.

Many of these people have introduced and invited other notorious scam projects such as Crowd 1, My Aladdinz…

Reference source for social networks Vitae

For more information on the authenticity and suspicion of this site's fraud, you can refer to the following sources:

VTV once warned people about this application: https://vtv.vn/video/canh-giac-tham-gia-mang-xa-hoi-tu-xung-vitae-cho-thu-nhap-khung-459226 .htm
Information from Tuyen Quang Provincial Radio and Television Station: https://tuyenquangtv.vn/ Kinh-te/202009/su-that-ve-mang-xa-hoi-tu-xung-vitae-7f92554/
Information from baodautu.vn: https://baodautu.vn/mang-xa-hoi-da-cap-vitae-mua-goi-like-thu-nhap-khung-va-cai-bay-duoc-giang-san -d129894.html

Conclusion

Above, lamchutaichinh.vn has provided information about social network Vitae, as well as various aspects of this website. From all of the above analysis, it can be confirmed that Vitae social network is a fraudulent multi-level project built on the Ponzi pyramid model. Hopefully through this article, you will have a broader view to avoid scams.

The article was edited by: Lamchutaichinh.vn