Is 7k Metals a Scam – Should You Invest in This?
Welcome to our 7k Metals review! In this article, we’ll answer the question, is 7k Metals a scam? I’ve done a lot of research about this company and I’ll be sharing what I’ve found about this particular program here.
Money-making platforms come in different shapes and sizes. From paid to click (PTC) sites to cash apps, the only thing left for you to do is to pick how you want to earn. With a good program and steady internet, you can and you will make money online.
Out of all the earning opportunities out there today, nothing screams cold cash more than MLM companies. Combining sales and recruiting tactics, these elaborate schemes have been really great for a lot of people.
However, there are still MLM companies out there that are up to no good. Let's find out if 7k Metals is one of those.
7k Metals Review Summary
Company Name: 7k MEtals
Owner: Zach Davis, Josh Anderson, Richard Hansen, and Roger Ball
CEO: Sam Cook
Products: Precious Metals, etc.
Headquarters: 2235 E. 25th St. Idaho Falls, ID 83404
Price: $249 and above
Summary: 7k Metals is an MLM company that sells gold and silver bullion as investment opportunities. Apart from those product, they have several more precious metals in their product line. Their compensation plan is pretty simple and easy to understand. Is 7k Metals a scam? I believe it is not but the high prices you'll encounter once you're inside can be a point of concern.
7k Metals 2020 Update
What is 7k Metals?
"Save, Share, Earn."
These are the very words you will see when you visit 7k Metals' official website. As simple as it may sound, the company is more than that and those words do not come close to what 7k Metals actually is.
We all know that this is an MLM product. But what is the company about really and how can you earn?
According to their sales videos, 7k Metals is a company that lets its members buy gold and silver bullion. More than that, those golds and silvers are actually related to an elaborate investment scheme perpetuated by the company.
7k was founded by then marketing college students Zach Davis, Josh Anderson, Richard Hansen, and Roger Ball. These three best buddies turned into business partners when they decided to invest in some industries together.
The current CEO of 7k is Sam Cook. All the guys I've mentioned so far have active LinkedIn profiles which is a good sign.
How Does 7k Metals Work?
Remember the three words I mentioned above? Well, the whole "save, share, earn" thing is actually how 7k Metals works.
First, the word "save" stands up for their investment scheme that lets you buy gold and silver bullion that you can stock and profit from in the future. 7k Metals has an autosaving program that I'll be discussing more in detail later.
Next up is Share. This is where 7k Metals materializes as an MLM. As per their video, they would pay their members for sharing the said company. We'll deal with their compensation plan in more detail later.
Lastly, we have the word "Earn" which represents their compensation plan. This part of their sales video in their homepage talks about the point system that they are employing to compensate their members.
2 out of the 3 words are involved with recruiting while there has been minimum talk about the products themselves. Did you notice that too?
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How Can I Join?
Before I tell you how you can join this, I would like to take this opportunity to help you think if you would be making the right decision. You see, as good and simple as they can get, earning in MLM companies is easier said than done.
Good MLM companies will not pressure you to recruit to stay with the company. On the other hand, bad MLM companies would prioritize recruitment more than anything and you could even end up paying more than what you expected.
Joining 7k Metals will cost you $249 at first. As you progress through the company, you'll go through 5 ranks:
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Features of the 7k Metals Compensation Plan
7k Metals utilizes what we call a Binary Downline. This is not an uncommon scheme that MLM companies such as 7k Metals employ. Basically, with a Binary Downline, you are only allowed to have two people directly under you. Those two people would then be allowed to have only two recruits as well. This is one of the simplest MLM structures and companies using this form are easy to understand. Is 7k Metals a scam? This might be some good evidence.
As mentioned in one of their sales videos (Earn), 7k Metals uses a point system to measure their members' productivity. To explain that more, recruiting someone will get you 100 points. If that recruit buys a bullion, you get 25 more points. Every activity you do inside the company corresponds to a certain amount of points.
If your two recruits reach 500 points, you get $500 for that week. If they get 1000 points, then you get $1000. Furthermore, you need to earn at least 25 points every 30 days to stay active.
Matching bonuses are bonuses givent o you based on a certain percentage of your recruits' commissions. In the case of 7k Metals, the Matching Bonus is at 5%.
Finally, the most straightforward way to earn in any MLM company, Product Sales. 7k Metals sells products such as gold and silver coins or bullions. Based on my research, they also sell platinum bars and other precious metals in different forms. Different items are priced differently with the cheapest silver items appreciated at $19 while gold can reach up to thousands of dollars. You may visit their product page for more information.
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How Do I Get Paid?
7k Metals have not been very upfront with this question. I could only guess that the company makes use of the usual payment system to pay their members. By usual, I mean through the same card that you use to pay the company.
What Do 7k Metals Users Say?
This company is actually pretty popular in its own right. Numerous rating websites such as BBB have picked up 7k Metals and this adds to the company's good reputation. However, what are the people saying about this company?
Is 7k Metals a scam? To gather comments, I went to the review part of the company's official Facebook website. I must say that an MLM company with a Facebook page surprised me. To add to that, the page is very active as well!
It looks like people are actually pleased with the comapny's service. So far, I haven't seen any major red flags.
7k Metals Ugly Truths Revealed
Is 7k Metals a Scam?
Joining an MLM is never a guarantee. Some will win, and some will lose. That's just how things go.
To be fair to 7k Metals, it's one of the best MLMs I've seen so far. The positive comments and all the proper PR done right really amazes me. However, I also cannot simply put a blind eye on the bad things.
Despite having a simple structure, the sheer price of its products makes 7k Metals a huge risk for many. However, if you're someone who is willing to accept the risk and the high prices, go ahead.
Is 7k Metals a scam? Honestly, I do not think that it is but it definitely is risky.
The company deals with investments and MLMs of this type can really be touted as a Ponzi scam. I'm not saying that 7k Metals is one but I do believe that there are much better alternatives out there.
Is 7k Metals a scam? Well, we now have our answer - a good part of it at least.
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