Is SmashFund a Scam? I Will Avoid It

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SmashFund Review – If You Want Another Ponzi Scheme

I found out that Smashfund was popping out on my Social Media. Its claim as the first social crowdfunding network certainly caught my attention. It confused me, though. Is it crowdfunding? Is it a social network?

So I am going to give Smashfund a review. If you want a quick result: AVOID Smashfund. Why? Keep on reading.

 

Smashfund Review

Overall Ranking: 00/100SmashFund Scam Review
Price: Free until July 2016, then $149/ month
Owner: Rob Towles
Website: https://smashfund.com/

 

What is Smashfund?

Smashfund is a social network. A place where people share their ideas. A place where your network can support your ideas and fund them. (I think this idea is duplicated from KickStarter).

 

Who is Behind Smashfund?

Rob Towles. According to his LinkedIn profile (https://www.linkedin.com/in/robertttowles), Rob is the founder and the CEO of Smashfund.  He was also involved in eFusjon Inc. eFusjon Inc lost its affiliate lawsuit in 2010.

 

How does Smashfund Work?

Now this is a bit confusing for me. Maybe because Rob tried very hard to put difficult words on his presentation. Or maybe I just don’t have enough vocabulary to understand him.

Here is his video explaining what is Smashfund and how it works.

I will try my best to put it into simple English. This is what I understand:

  • You join (Free now, $149 from July)
  • You invite people (if they pay, you got $50 per person joined)
  • Your friend invites more people (if they pay, you got $4 per person in your extended network)

There is no explanation about how the crowdfunding works. Smashfund just says that your network will fund you. But it did say how Smashfund will charge 2.9% Stripe fee + .30¢ per transaction.

 

Why is it Legit or Scam?

Pros

  • Huh? I don’t see anything so far but a promise of something big.

Cons

  • They asked for credit card details way too early. Be very careful! They do not provide any link to cancel your membership. Your credit card details will be in their hands!
  • No social profile.
  • No crowdfunding platform.
  • This is a Ponzi Scheme

Seriously! For a crowdfunding social network, you don’t have a profile page. You also don’t have an idea page where you can ask for crowdfunding. What is this?

So I came to a conclusion that this is just a Ponzi Scheme where Smashfund takes $149 per month of you. And if you have a personal network, you will be paid $50 per person (while taking $99 from your network per person). Easy money for Smashfund, right?

Smashfund Scam Review Sign Up Page

Who is Smashfund for?

NOBODY should join this. AVOID at all cost. Or you will lose $149 per month. If you want to network, better go to Facebook or Google Plus. If you want to crowdfund, go to KickStarter.

 

Training / Tools

There are none. They did not provide anything. At least, they should put a training on making a crowdfunding proposal.

You have an idea and you have to make a proposal to other people. How else they are going to fund you? Just give you money?

This just tells me that I am right about Ponzi Scheme. There is no training needed. You just have to put people on your network, or I say “trick them” into your network.

 

Complete Review by Lynne.

I completely agree with my friend, Lynne, here. She went all the way to confront Smashfund to reveal more information. She got none. You can watch her review and why she agreed that Smashfund is not for you.

(Updated Oct 2016) BTW, Lynne has been served a Cease and Desist letter because of her first 2 reviews on this company. Why do you think they did that? Below is the latest video from Lynne.

What About People Claiming They Have Made Money With Smashfund?

Oh, come on! It is free to join up to July 2016. This review is written in June 2016.

If everybody joined with a free account, how are you going to make any money? My common sense tells me they just want to “trick” people to join their Ponzi network. You just need 4 people to give you a positive cashflow from this Ponzi network. (Alright, 3 people to make $150. You will make $1 profit).

 

My Verdict for Smashfund Review

I strongly suggest you to AVOID this. This smells Ponzi scheme all over it. You do not want your network hurts because of a Ponzi scheme. Especially when Smashfund is trying to get your network.

They really ask for credit card details way too early. And they do not provide a link to cancel your membership. If this turned out really a fraud, your credit card will be toast!

SmashFund Scam Review Sign Up Page 2

You will be better to make money with Wealthy Affiliate. You will make $1 per person you refer as long as they complete their account. If they choose to become a premium member, you will make $22.25 monthly. It is not $50 per month but this is a better choice. (Why do you think I recommend $22.25 instead of $50?)

By the way, do you know PayPal does not accept scammers? It will rigorously check the company before letting it uses PayPal services. PayPal has to protect its brand name. Wealthy Affiliate uses PayPal, Smashfund uses Stripe. You decide yourself!

I hope my Smashfund review helps you make a sensible decision. Leave your comments and thoughts down below. Is Smashfund a scam or legit? What do you think?

 

Smashfund Review
Overall Ranking: 00/100 (Ponzi Scheme alert)
Price: Free until July 2016, then $149/ month
Owner: Rob Towles
Website: https://smashfund.com/

 

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18 thoughts on “Is SmashFund a Scam? I Will Avoid It

  1. Wow. It seems crazy that anyone would even consider this, but I guess “there’s a sucker born every minute”. I would NEVER give my credit card info to anyone unless I was 100% sure they were legit. And I would certainly want an easy way to cancel my account, like they do at Wealthy Affiliate. Thanks for this review–I will steer clear.

    1. Hi Hillary.

      I really hope that my article here will help more people to avoid scams like this one.

      Common sense should be the guide for this kind of “opportunity”. Don’t use emotions.

      Thank you for stopping by.

  2. Oh, this sooo reeks of being a scam! Do you remember when growing up how your parents always told us that, “there’s no such thing as a free lunch”?? I believe that in the world of money.

    I’m not sure how people can see any benefit from Smashfund. So I agree wholeheartedly with you and with Lynne.

    I have seen more and more sites like yours that are exposing Smashfund and offering Wealthy Affiliate. I think that is so smart to do, because Smashfund is going to bankrupt people and Wealthy Affiliate is going keep those who work hard afloat in the world of money.

    Thanks for a great article.

    1. Hi Steve.

      Sadly, I was a victim of similar scam before. That’s why I’m making this my mission. To help people learn the truth about online business now. And to give ways to avoid scams.

      Yes, there’s no free lunch.

      1. If you want the truth, I would be happy go answer questions and explain Smash Fund. I am a founding member and assure everyone it is not a scam, in fact we are not even a network marketing company. Give me your number and I will call you at your convenience. Steve

        1. Hi Steve,

          I would like to ask you several questions to clarify SmashFund positions. It is better to do an interview that I can post here, right? BTW, why don’t you have a smashfund email account? Why use Gmail?

  3. Did you fall victim to this scam? I see a lot of them out there and everyday people are saying you can make a lot of money with little or no work involved. My theory is: If it sounds to good to be true it probably is. I hope you didn’t loose your money.

    1. Hi Larry.

      Thank God that my scam radar was blaring. I noticed that SmashFund was selling a “promise” that’s too good to be true.

      A true business always needs work, time and money.

  4. Nice review Arief. Scam reviews are my favorite. It’s great to see people spreading awareness and nail the scammers.

    This type of scam is the worst. It’s so evident that they don’t try to hide it. I especially like how you have to enter credit card detail right away. This is made to rip people off.

    Again, great review. I look forward to reading more from you!

    1. Hi Makki.

      I’m trying my best to expose scams. I’m not willing to let people fall for this kind of act.

      I’ve lost money before and I don’t want anyone else to become victims.

      Thank you for your support.

  5. Hi,
    This is a great post, I think you are really helping people out there from scams by giving an honest review. This has helped me, Thanks!
    Sandy

  6. Thank you for this valuable information! This is certainly something I’ll stay away from now. Hopefully plenty of people see this post before they are scammed. From your description of the company, it is a very clear ponzi scheme. Hopefully most people will be guided by common sense, but for those unsure, this article is sure to help!

    1. Hi Rob,

      I’m glad you’ve found this review. I certainly will not promote SmashFund. It is too obvious that they’re trying to scam people.

  7. Hi Arief

    I am so glad to see that my video is being seen by people, especially since SmashFund have been trying so hard to keep me quiet! Keep on spreading this please.

    Great review!

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