The Truth About Pay Diamond Scams Exposed!
Pay Diamond - an MLM company that involves investments in real diamonds has been gaining a lot of popularity recently. However, rumors of Pay Diamond scams are also prevalent, especially on the Internet.
If you try a simple Google search, you will come up with plenty of different results.
There are people (especially affiliates of the company) who refers to Pay Diamond as the paragon of diamond investments.
On the other hand, there are also those that scream "Pay Diamond scam!" on their written and video reviews.
Who is telling the truth?
Name: Pay Diamond aka LifeInBlock
Owner: Carlos Luiz? (unverified)
Price: $200 - $18,000 + monthly fees
Pay Diamond Business Opportunity Rating:
Pay Diamond Product Rating:
FOR ONLINE BUSINESS OPPORTUNITY SEEKERS
I am not affiliated nor promoting Pay Diamond. I also have no intentions of bashing this company.
This Pay Diamond review is no more than a presentation of the company's business opportunity, compensation plan, and legitimacy.
Should you invest in Pay Diamond or should you stay away from this company, you will find out in a few moments.
What is Pay Diamond
Pay Diamond appears to be an MLM company that invests on raw diamonds from mines and sells them at higher prices. There are not much information on their website indicating who owns or runs the business.
However, the name Carlos Luiz seems to pop up regularly whenever you search for Pay Diamond but I have no way to verify if he is indeed the founder.
The Pay Diamond website domain "paydiamond.com" appears to be first registered on December 2014 and was last updated in November of 2015.
Other than the information you can see on the image below, nothing much is revealed on Pay Diamond's website.
Latest Pay Diamond Update
Last year (2018), Pay Diamond began migrating its members to a brand new website called LifeInBlock.
If you visit Pay Diamond's official website (paydiamond.com), you will arrive at the same page on the image below.
Yup. Pay Diamond is no more and was bought by a company that is known today as LifeInBlock.
However, it also offers a binary MLM compensation plan for its members like Pay Diamond was.
By the time I am writing this Pay Diamond review, you can still get access to the old company website using an alternate domain search "paydiamondteam.com," or you can click here.
I have reasons to believe that Pay Diamond is still operating but nonetheless, it is now owned by LifeInBlock.
Pay Diamond Products
In addition to a couple of missing crucial information on its website, Pay Diamond has no retailable products or services.
Pay Diamond investors aka affiliates are only able to promote the Pay Diamond affiliate membership itself.
Now, this is a huge red flag because according to the FTC...
A company claiming to be an MLM but cannot present a tangible product line for its members to sell is the definition of a Pyramid Scheme. But more on that in a moment.
For now, let's take a look at how Pay Diamond affiliates can make money with the company.
Pay Diamond Compensation Plan
There are two ways you can earn money with Pay Diamond. First is thru investing your own money for a promise of guaranteed weekly ROI and by recruiting new people to join the company.
50-Week ROI Thru Personal Investments
You can choose the amount of your potential weekly ROI commissions by subscribing on a particular investment package.
- Joy - You will receive a $10 weekly ROI
- Light - $20 weekly ROI
- Plus - $60 weekly ROI
- Master - $180 weekly ROI
- Safe - Receive an $1800 weekly ROI
As a Pay Diamond affiliate, you can earn more money by recruiting new people into the company.
Your commissions will depend on the investment package that your recruit purchase.
- Joy Pack - $5 per new recruit
- Light Pack - $10
- Plus Pack - $30
- Master Pack - $100
- Safe Pack - $1000
You will also have a chance to earn residual commissions through Pay Diamond's Binary and Matrix compensation plan structure which you can learn more by clicking here.
My Concerns About Pay Diamond aka LifeInBlock
As much as I do not want to bash or discredit any company, there are some serious red flags about Pay Diamond and its business operation.
#1 Undisclosed Information
This might not come as a big deal for every one (including you) but companies should disclose every vital piece of information about itself to the public.
This includes the personalities who manages and run the entire operation, the company's history, earning potentials, its current head quarters and other whereabouts.
This is to establish trust among the potential affiliates.
It will also be beneficial for the future members so they will have a clear idea as to whom they can turn to for help when issues arise in the future.
#2 Pay Diamond Scam Warnings from Authorities
Pay Diamond has received a lot of criticism from different government authorities and other entities from different part of the globe even at its early years of operation.
If you have additional information to contribute regarding this matter, please utilize the Comment Section below.
#3 Are Pay Diamond Scams True??
I have no way to ascertain if there are indeed people who have been scammed by this company.
And if there have been, I cannot say for sure if Pay Diamond has a direct involvement on that matter. Pay Diamond affiliates are free to conduct the business as they see fit so maybe it was only the affiliates who are involved in scams - if there is indeed.
There is one thing though that I can say about Pay Diamond in the next section.
#4 Pay Diamond Is "Likely" A Pyramid Scheme
I am not saying this base on my personal experience because I have never been affiliated with this company.
What leads me to this conclusion is the fact that the FTC clearly states that for an MLM company to be considered a legitimate one...
The company (Pay Diamond) must be able to provide a product line that will allow its members to earn profits thru direct selling.
The company has not met this criterion. What's worse is that they are paying their members commission for recruiting new people into the program.
Getting paid thru recruitment alone without product sales is a telltale sign that you are indeed involved in a pyramid scheme.
Is LifeInBlock The New Pay Diamond Scam?
Now, this is a tough question to answer at the moment. Firstly, Pay Diamond and LifeInBlock appear to be a completely different company.
Pay Diamond promises huge ROI to its members thru purchasing raw diamonds directly from mines, processing them into polished diamonds and selling them in the market at exponentially higher prices.
Meanwhile, LifeInBlock seems to focus on trading in cryptocurrencies to earn profits and sharing those profits to its affiliates.
In LifeInBlock's ABOUT US page, this is what it says,
"We work with a binary system that manages to distribute the greatest amount of profits to all the supporters of this great endeavor that will be LifeInBlock.
We are a company that has its staff with over 20 years experience in IT and Computer Systems, more than 7 years working and obtaining profitability in Hold, trading, Arbitragem, development in cryptocurrencies, exclusive Boot, mining and Invest in Ico."
I think buying raw diamonds and selling them is out this time. And whether this is another scam or pyramid scheme, we will find out soon enough.
I advise that you visit Bare Naked Scam now and then as we continually expose the latest scams, pyramid schemes and other illegal business opportunities for you.
However, if you have any information regarding Pay Diamond or LifeInBlock, please share it to our readers in the Comment Section below.
Is Pay Diamond/LifeInBlock For You?
That depends. I cannot make that decision for you. However, I have provided you with enough information about Pay Diamond (now LifeInBlock) that could help you make an informed decision.
After everything I have shared on this Pay Diamond review, whether you choose to invest your hard-earned money with this company or stay away from it is up to you.
How To Join Pay Diamond
To become an affiliate of Pay Diamond, you have to purchase any of these packages.
Take note, in addition to these packages; you will also be required to pay a monthly subscription to the company.
My Sincere Advice To You
In addition to getting involved in Network Marketing and MLM like Pay Diamond, there are other legitimate business opportunities to consider today.
For starters, why not start your own online business?
Furthermore, you can also take a look at online trading if stocks and FOREX are up to your alley.
What's important is that you are doing something you are genuinely passionate about.
It is only then that you will not have to focus so much on how to earn money, but instead, you are merely doing something that you truly love.
Because when the time comes that things are not going as you planned, it is that passion that will drive you to try again, get up, get better and see your business through the end.
There is no such thing as a Get-Rich-Quick scheme. Whatever business you choose as a vehicle towards financial independence, it will require knowledge, skills, hard work and time.
There you have it. My two cents about Pay Diamond. I am hoping that I provided you the answers that you were looking for.
If you find this Pay Diamond review useful, kindly share this to the people you know so they too could benefit from this information.
Meanwhile, if you are serious about starting an additional income source that might lead to the life you have been dreaming of...
I suggest that you equip yourself with the proper knowledge and tools to maximize your chance for success.
Until next time and I wish you nothing but success in the future.