My First Plant review – My First Plant Legit or Sam This is not right [beware]

My First Plant review – My First Plant Legit or Sam This is not right [beware] – In this study, we look at the MyFirstPlant investing scheme, which claims to help you make money with cannabis.

My First Plant review – My First Plant Legit or Sam This is not right [beware]

What is My First Plant

MyFirstPlant is portrayed as a corporation that grows Cannabis plants for its users and distributes the revenues to them.

You can pay the corporation to grow the plants for you, and they will sell the crop, allowing you to benefit from your investment.

My First Plant does not provide particular ROI figures on its website, but its affiliates promise that you will receive a 40–50% annual return on your investment. Surprisingly, these rewards are meant to last indefinitely, even though you just invest once.

One outside plant costs 70 euros, 450 or 900 euros for an inside plant.

Let’s look at whether MyFirstPlant is a legitimate investment possibility.

MyFirstPlant red flags

Our investigation of My First Plant found a number of issues that every investor should be aware of. Here they are.

Links to a Ponzi scheme

We looked into the background of the firm that handles this initiative, MFP My First Plant GmbH, and discovered an unusual fact.

Mario Abraham, who was also the CTO of the EXW Wallet scam, is the majority owner and CEO of My First Plant. The EXW token was essentially a Ponzi scheme that collapsed a few years ago, leaving many people out of pocket.

When the owner and CEO of MyFirstPlant was recently involved in a Ponzi scheme, this is not a good start. However, you should be aware of this fact.

My First Plant review – My First Plant Legit or Sam This is not right [beware]

Pyramidal structure

Keeping with the pyramidal theme, MyFirstPlant is a conventional multilevel marketing company. A clever multi-level system rewards you nine layers deep on sales generated by persons you referred to the program.

Then there are a variety of performance-related pools that can boost your earnings. Finally, there are ranking awards based on your downline’s turnover; you may even win a Mercedes…

When you add in the fact that you can’t join MyFirstPlant without a sponsor, you’ve got a highly suspect mix.

Don’t get us wrong: MLM structures have been utilized to market legitimate products in the past, but we’ve never seen one with a legitimate money-making product.

Because there is a significant difference. If you have a real product, such as a beauty product, you may utilize direct marketing to promote and sell it instead of paying intermediaries.

However, if you have a product that is designed to make a big income passively, such as MyFirstPlant’s plants with a 50% ROI, it should sell itself and you shouldn’t have to pay anyone to market it.

People on Wall Street would beg you to steal their money if you could earn them a 50% annual return in a legal method. In the actual world, 50% every year is a significant quantity.

Yet MyFirstPlant had to construct a pyramid in order for others to agree to let them generate a passive income? Isn’t it strange?

My First Plant review – My First Plant Legit or Sam This is not right [beware]

Impossible plants and suspicious returns

Another issue we have with MyFirstPlant is the plants that are intended to generate you money. Because the materials we’ve seen claim that if you buy a cannabis plant, it will make you money for the rest of your life, with a harvest every 120 days.

We are not Cannabis specialists, as we indicated in our Juicy Fields review, but according to our study, a typical Cannabis plant lives one year and produces one crop.

However, MyFirstPlant affiliates claim that you will recoup your investment in one year and that the plant would then make a profit in subsequent years. The reality of cannabis cultivation does not appear to corroborate this.

And we’ve already mentioned it, but a 50% annual return is a significant number, especially for a corporation that doesn’t make money for its investors; annual stock returns are negative!

Where are the facilities?

My First Plant claims to be producing cannabis plants in Switzerland, however their sole proof is a fuzzy photo included in their presentation.

If they want to grow plants in Switzerland, they must register as a corporation there and have facilities there.

The company MFP My First Plant, on the other hand, is not registered in Switzerland and has no evidence of growing anything in any country.

Shouldn’t they show proof that they are genuinely doing with your money what they promised if you give them your money to grow plants for you? As a result, this is yet another red flag.

What about regulation?

The Juicy Fields case has demonstrated that this business concept of cannabis farming for investors is a regulated financial service. This fact has been raised by at least two major European banking regulators.

So it is only fair to assume that MyFirstPlant has to follow the same rules and be treated as an investment service. But the company provides no information about how it meets the requirements set by laws in Austria and Switzerland for investment services.

As a result, we must conclude that it is not being offered as a regulated investment service, implying that it will most likely encounter regulatory issues in nations where it is marketed.

Final Thought About MyFirstPlant review

We have seen several red flags around MyFirstPlant in our study, and we believe you should proceed with caution when considering this investment scheme. You can always contact your country’s financial regulator, but the safest bet is to avoid MyFirstPlant.

Stick with regulated companies while investing your money. Furthermore, you should always ensure that you are aware of the hazards and that you are only investing funds that you can afford to lose.

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