Swaggy, the App by Swag
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Swaggy is the Swag App that allows using BTC with a euro bank account.
The App allows obtaining an IBAN and a rechargeable card linked to the euros and BTC held by the user.
To obtain the App and the card, it is necessary to register with the Swag platform and activate an account.
Swaggy actually operates as a BTC wallet, but it is linked to a euro account. It also works as an exchange.
It allows buying and selling BTC, receiving, storing and sending them, as well as sending and receiving euros and making withdrawals or deposits throughout Europe.
Swag – Enrich your life is a community network offering various services, including the Swaggy App.
Swag Network in particular is a platform dedicated to those who want to “work with activities related to the promotion of SWAG MINING and SWAGGY APP products”.
In other words, it is a network marketing activity based on building a community of members who support the project and promoting the services it offers to its affiliates.
SWAG OÜ, the company of Swaggy app
The company, SWAG OÜ, is based in Estonia, but has Italian origins, and also offers packs of rentable computing power to mine BTC.
It also offers a so-called “Virtual office” dedicated to promoters, which allows them to get a complete backoffice to “build and manage their career effectively”.
The swagyourlife.com website reads:
“Start your independent business today and express your potential for success in the BTC world”.
In other words, the network promises those who become promoters to earn money by promoting the network itself, and this makes many Swag promoters try to convince other people to join the network. This is in fact multi-level marketing, a very controversial business strategy.
The page of the official website dedicated to the Privacy Policy reads:
“Distributors may participate in other direct sales or network or multilevel marketing activities (collectively referred to as “multi-level marketing”)”.
There are even those who have speculated that it is a Ponzi scheme, particularly because the earnings would be based mainly on commissions obtained by recruiting new affiliates.
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