ringID: Another Ponzi business thrives



Many of you might have heard of it as a social network platform that live streams different sports and sponsors programmes of many TV channels.

Maybe, many others have found it a means of earning by taking a membership, Silver at Tk12,000 or Gold at Tk22,000, to this platform and are working as a “referee” to tag new clients to get commission.

An apparent money-making scheme, identical to the pyramid structure of a typical multi-level marketing company, might eventually leave them with no exit route in case it collapses.

It offers earning opportunities probably in the simplest way possible – making money is just for watching commercials. 

The users can earn Tk250 to Tk500 per day just by watching advertisements, an economic model, although not clearly explained, – it is well enough for ringID to prowl on several lakhs of students or youths, who are waiting for jobs.

The brains behind the venture are Ayrin Islam and…

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