Hey all, welcome to my Wiseling review.
If you’ve been approached by someone on joining Wiseling or you just got to know them on the internet and thought it’s a good way to earn extra money, well, you might want to reconsider them after reading through this post.
I’m not associated with Wiseling and this review will be from my own 3rd party perspective.
I will share with you my thoughts on whether or not Wiseling is a legit company to make money from. So without further ado, let’s get to it!
Is Wiseling a scam? Here’s the truth…
Founder: Matias Lappo & Elias Mattila
Product Type: Returns-guaranteed investments
Price: Free to join + invest as low as $50
Summary: Wiseling is a newly founded “investment” company that users can invest money in and get a fixed return in a number of days. The company, founded by Matias Lappo and Elias Mattila is claimed to be headquartered in Helsinki, Finland.
Though it’s attractive to get fixed returns on your money in a matter of days, it does raise a few red flags. Let’s discover those red flags together..
What Is Wiseling?
Wiseling, if you go to the website, looks like a genuine company that helps users to invest their money or assets to get quick returns.
Users can either invest in:
1) Fiat currency (USD, CAD, GBP etc)
2) Cryptocurrency (Bitcoin, Ethereum)
3) Industry (Medical and IT)
Depending on what you choose to invest in and how much you are willing to invest, the returns will differ. Of course the more you invest the more returns you will get.
Basically, you deposit your money into your Wiseling account, wait for 16 days, and you should be able to get a % of return and you can immediately withdraw your profits or funds inside, as low as $1.
It does look good and even to me, if there’s something legit out there in the world that can promise a good consistent return, I will probably want to put my money in.
But, when it comes to investments, if promises are made, the more you want to keep your money away from them… because no one can predict what the future might hold.
With the promises that Wiseling made, let’s go to the next section.
Is Wiseling Legit?
This is probably the most non-straightforward answer that I will have to give when reviewing an MLM company.
There are a few reasons why I have many doubts about them right now:
1) Who ARE The Founders?
Now, we do know that the founders are Matias Lappo and Elias Mattila. But if you were to do a little bit more digging on both of them, you can’t really find anything on them.
We don’t know what credentials they have to run an “investment” company. And that itself just made me to keep my money away from them as far as possible.
Usually, it’s pretty easy to see the background of a company’s founders. If you go to their LinkedIn profile, you will already see where they used to work and their experience in a certain field.
But both Elias Mattila and Matias Lappo backgrounds couldn’t be found.
2) Where Are They Really From?
So the company is said to have an office in Helsinki, Finland. You can see that they are renting an office space with Regus in Helsinki.
I’m going with the benefit of the doubt here – so maybe they are still a very small company and not in need of a normal own office. But in their video above, they mentioned that they have more than 300 staffs….so…does it make sense to have 300 over staffs and still work in a co-working space….?
Anyway, another thing I’d like to know is – who exactly is Finnish?
I could see that Matias Lappo is claimed to be located in Helsinki but upon watching Wiseling’s videos on YouTube, listening to his accent – I can definitely tell he’s not Finnish.
I’ve lived with a Finnish friend for 2 years, I know exactly how their accents sound like. And Matias’s accent is definitely not Finnish.
I tried to listen on Elias Matila but he’s nowhere to be found.
So really, they are both a mystery at this moment.
3) No Portfolio Shown
With any investment companies that you want to put your money into, they will always show their portfolio – basically what they are investing in and their results.
This is so that users can be informed and it’s a common practice.
But in the video, they just mentioned it’s the company’s “secrets”. This rings the “Bernie Madoff”’s bell. This was Berni’s exact answer when someone asked about his investment “secrets”.
If you don’t know who’s Bernie Madoff is – he’s the Ponzi schemer that was able to scam $65 billion.
Don’t fall for it again, guys.
4) No Appropriate Authorization
Do you know why an investment company couldn’t simply accept anyone to invest with them, regardless of their countries? It’s because the company will need to be authorised in every single country they want to operate in.
But does Wiseling have all the authorization? No.. at least I couldn’t find any.
And the worst part is that Finland’s Financial Supervisory Authority (FIN-FSA) has issued a fraud warning to Wiseling for suspicion of operating without appropriate authorization.
This is from the main country that their office is located in. Can you imagine on the other countries that they are currently accepting money from?
I don’t think they have the necessary authorization because it is not easy to get those authorisations. And Wiseling somehow has been able to operate in so many countries in a very short time.
It just raised another red flag.
Is Wiseling A Ponzi Scheme?
If you’re not sure what a ponzi scheme is, you can watch the video below first:
Ponzi scheme is basically when a company promises high returns with little risk and won’t show their investment’s strategies. And also when the company is still able to show consistent returns despite market turbulence.
In order for them to continue giving you returns, they will need to get more people coming into the company and invest. So that they can then use the new investment money coming in and give a portion of those money to you, as your “investment returns”.
I personally think that Wiseling has crossed the Ponzi scheme line as they are offering a stable, almost-guaranteed return, without showing any proof of real investment strategies.
But that’s not all with Wiseling.
Since with any ponzi scheme, the company will need to get consistent new people coming in to invest their money. And this is where Wiseling is offering the MLM-structure to get new recruits.
This brings us to the next section..
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Is Wiseling A Pyramid Scheme?
Ponzi scheme and a pyramid scheme is different.
Now that you know what a ponzi scheme is based on the video above, let’s look at how a pyramid scheme works. Below is a real-life example of a pyramid scheme so I do encourage you to watch it:
While a Ponzi scheme gives the old recruits returns from the new recruits’ investments, a pyramid scheme is basically when a company is only focusing on getting new recruits into the company.
Some MLMs can be a pyramid scheme in disguise by having a bogus product line to cover the pyramid scheme that they are operating.
For Wiseling, since they don’t exactly have any products for retail, users can only make more money when they recruit new people.
They have a tiered structure – which is different from a normal referral or affiliate program, whereby you only get a percentage of someone you personally refer.
However, if you refer someone into Wiseling and that someone refers another person, you’ll get a higher commission cut. You can see the full structure here but don’t get fooled with promises.
And the bigger your network is, the more you get in return.
It’s basically a pyramid scheme. And with both ponzi and pyramid schemes, the company will collapse once new recruitments run dry since they will no longer be able to give returns to the investors.
And if you’re one of their investors, the likelihood for you to get back your investment money is low.
Should You Invest With Wiseling?
Not if you want to see your money again.
Even if you are having doubts with my arguments that they are a ponzi and a pyramid schemes company, they are at least committing fraud in running illegal securities offering where they don’t have any real authorization to do so.
Making passive money is not easy and it’s always not guaranteed.
Many times, we have to work on creating that passive income stream first before they can generate a good passive money to us.
Even if you’re just investing in the stock market, you do need to do your homework in understanding how stock market works and where exactly to put your money.
They all come with risk.
But the risk will be lower when you make a more educated decision.
Instead of putting your money in a ponzi investment scam, you can actually create a business online that can give you better results and more sustainable income in the long run.
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