RothCard has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Yotsbit. We’ve received over 3 complaints against RothCard.
RothCard, which operates through “rothcard.com,” lacks transparency in its business model, ownership, and product offerings, generating serious issues. Its headquarters are in Sharjah, UAE, near the notorious MLM hub Dubai, and imprecise references to “Streamline LLC” cast doubt on its credibility. With no retail products, RothCard’s revenue is based on affiliate membership fees, which are linked to a costly €650 VISA debit card. This MLM scheme, which features a pyramid-style pay structure and unregulated operations, poses significant hazards to potential participants, emphasizing the significance of complete due diligence.
Get Your Money Back From These Scammers!
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Key Takeaways
Is RothCard Regulated? Do They Have a License?
RothCard, which operates under the name “rothcard.com,” has raised a number of concerns about how it runs its business, who owns it, and the products it sells.
The name was registered privately on December 15, 2023, which raised the first questions about how open the company is about its management and executive structure.
A big point of disagreement is that RothCard’s website doesn’t list any information about its owners or executives. Instead, it only has a Telegram channel and a real address in Sharjah, UAE.
The fact that Sharjah was chosen as a base—it is close to Dubai, which is known for being linked to MLM (Multi-Level Marketing) schemes—makes these worries even stronger.
Furthermore, the website’s terms and conditions talk about “Streamline LLC” without making it clear whether it is a real company or what part it plays in RothCard’s operations.
The lack of regulation or the presence of poor regulation is a huge red flag. It means RothCard is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of RothCard, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at RothCard
RothCard is different because it doesn’t offer goods or services that can be bought and sold. The company’s only way of making money is by selling partner memberships, which are tied to buying a €650 VISA debit card.
Pay Structure
The pay system is simple but controversial: commissions are paid at two levels of recruitment in a one-level structure:
- €175 EUR for agents who were directly hired (level 1).
- €20 EUR for second-tier recruits (level 2).
This structure makes it clear that RothCard’s business plan is based on recruiting, and it also shows how much it depends on affiliate fees to run.
To become a member of RothCard, you have to buy a €650 VISA card. The benefits of membership are closely linked to this big initial investment. As is common in the financial services industry, the business that makes this card says that it makes it easier to exchange cryptocurrency for cash.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
RothCard Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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RothCard Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like RothCard tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust RothCard reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of RothCard, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like RothCard enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “RothCard reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising RothCard.
You should always look out for consumer complaints. In the case of RothCard, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about RothCard? You can share your complaint in the comment section or submit an anonymous tip.
Is RothCard Legit Or Scam?
RothCard markets its service as a link between cryptocurrencies and standard banking, pointing out how safe and easy it is to use both its virtual and physical cards.
The company’s trustworthiness is harmed by the fact that the card is very expensive, customer service is done through a Telegram group, and ownership information is not clear.
The reference to a “complete KYC Process” for a future restart suggests that RothCard may have had major problems soon after it started.
In addition, the company’s MLM structure, which doesn’t involve any retail sales and relies only on recruiting new members to make money, is similar to a pyramid scam.
Since commissions don’t get a fair share of the card purchase fees, RothCard’s business plan might not be able to last, and it’s likely that participants will lose their money when the scheme falls apart.
RothCard’s business plan is very risky for potential affiliates and customers because it is not clear how it works, relies on affiliate recruitment, and costs a lot to join. These worries show how important it is to do your research and be careful if you’re thinking about joining RothCard or a similar MLM plan.
RothCard is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind RothCard can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust RothCard?
All the evidence suggests that RothCard is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is RothCard a scam?
Can I withdraw money from RothCard?
Where is RothCard Located?
How do I get my money back from RothCard?
How The RothCard Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
