Name: My Binary Profits
Type: Revenue Sharing
Price: Varies according to adpacks
Rank: 50/100 – Borderline Legit..
What Is It?
My Binary Profits at first might just sound like another one of those binary trading scams. But in reality, it actually has absolutely nothing to do with binary profits and everything to do with revenue sharing.
If you don’t know what revenue sharing is, it’s becoming one of the most increasingly popular methods to both make and lose money. Despite it being more legitimate than other methods we’ve seen used to make money online, it still inevitably holds many risks and disadvantages.
The primary service being sold here are its advertising packages. The reason why its become so popular is because of its opportunity to allow you to potentially earn an income on the side. However, this is much easier said than done and the risks of this program aren’t even stated anywhere on the website itself.
The risk here is that My Binary Profits might not always be able to pay out as its sustainability will be tested and put into question over the next few months.
How Much Is It?
First lets see what exactly My Binary Profits is offering. Essentially they offer 3 main adpacks you can buy, which in-turn gives you a certain amount of visitors to your offer. But as stated, the main attraction here isn’t in the advertising itself, which I really don’t find all that effective. But rather, your ability to earn a 150% to 160% return on your investment. Despite all this, they claim that it is not an investment program!
One thing they should have mentioned however, is that the return on your investment is not guaranteed! This
should be a big indicator of the risk that is involved with this program and if you’re joining just to advertise another opportunity I wouldn’t recommend it.
The advertising with My Binary Profits is highly ineffective to say the least and I believe the only reason for this service is to offer its revenue sharing feature. This is what makes their revenue sharing legal and legitimate. Without it, they’d be viewed as nothing more than a scam. However, when you look at the advertising service, it doesn’t hold up all that well..
It’s really all just hidden on their Business Directory page, which is probably rarely ever looked at. When it is, it’s probably only viewed by the same members over and over again.
What’s The Risk?
While the recent payouts page does prove that you can indeed get paid with My Binary Profits, the risk might as well be just as great. The fact that the program can literally shutdown at any moment is the reason why I’ve stopped using these high yield investment programs. The profit on the adpacks themselves does not justify the risk that is involved.
In order for My Binary Profits to keep running it needs a constant flow of new members and deposits coming in. Without it, the program would have no money to payout its members. The way it works is essentially by cycling the newer member deposits to the older members and so on. This needs to continually occur in order for the program to work and therefore, is probably why you may have noticed the huge gap between their total purchases and total payouts ($118,000 vs. $8,452)!
- Opportunity to both earn and advertise
- 10% in referral commissions
- Keeps it simple
- Accepts PayPal
- Very risky
- Can shutdown at anytime
- Advertising is ineffective
- Needs a large investment for good profits
My Binary Profits Overview
Despite My Binary Profits not being the worst make money system I’ve seen, it’s still far from the best. These types of systems inevitably holds many real risks and in my opinion, the pro’s simply don’t outweigh the con’s. In addition, the advertising is very weak and likely isn’t going to attract too many visitors.
On the other hand, it can be an opportunity to earn some cash, but only in the short-term. It’s important to realize though that you could wake up one day only to see the company walk away with your money. Personally, my recommendation is to stay away from My Binary Profits and other similar systems and to get yourself involved with something more legitimate.
I’ve never really agreed with programs that try to take money away from its newest members only to pay out its older ones. In the end, one persons loss is just another persons gain. Furthermore, the mere fact they call these payouts as bonuses should only give you more reason to stay away. This almost indicates that they’re probably not here to stay.
I’ve seen programs like these come and go, the latest one of those being AdPaying, which despite just being opened has already stopped paying out its members. Many times, these owners will only open up their doors for a month or two, simply because they can’t keep the program growing any longer. While I can’t confidently say that is what will happen to My Binary Profits, it certainly doesn’t make for a promising sign!
Thanks for checking out my AdPaying Scam Review. If you have any comments, questions, or concerns, please leave them in the comments section area below.