GramFree: Yet another Crypto Scam

Yet another Monday, yet another scam to be discovered. Have you ever heard about GramFree and it’s “incredible opportunities”? Well don’t get too exited, pal. It’s about to get ugly.

What is GramFree?

GramFree is a website that rewards users with ‘Grams’ as a currency in exchange for doing simple tasks like

  • inviting new users,
  • entering a daily lottery,
  • signing smart contracts,
  • depositing money,
  • watching (mostly crappy) videos.

GramFree generates money from selling you Grams (Duh!) and from ad revenue. But for a user, how does the website work?

The Dashboard

After registering you are taken to your Dashboard. If you look at the options on the left, you’ll notice you can earn Grams through a range of options – including smart contracts, the lottery, videos and referrals. Let’s go over each of those options now.

Smart Contracts

GramFree Smart Contracts are available for you to sign daily. If you choose to take a contract, you are given a timer that counts down. At the end of the timer, you must sign again. Each contract must be signed a certain number of times for you to receive payment.

GramFree has two types of Smart Contracts, including:

  1. Standard Contract (worth 0.05 Grams)
  2. Risky Contract (worth 1.0 Grams)

Standard contracts are only worth 0.05 Grams, while risky contracts are worth 1.0 Grams. They are called ‘risky’ as you will lose 2 grams if you do not ‘sign’ the contract whenever the timer goes off.

This probably seems pretty weird, but smart contracts are an important part of GramFree. They don’t operate the same way normal cryptocurrency contracts do. They exist for one of two purposes:

  1. To make you feel invested in the GramFree project.
  2. To slowly gift you grams as a way to earn your love.

The second purpose is a very simple, but nonetheless clever marketing scheme, btw. Let me explain it in a very basic way: It’s like ordering a takeaway burger meal with fries. After you open your bag you notice some delicious fries at the bottom. of it “Awesome! Free fries”, you might think. And you might even consider to come here more often, tell your friends about it etc.

And that is what GramFree’s smart contracts are for. They are designed to bring you back to the website daily until you crack and buy Grams.

To be fair, this is a common scheme in the (mostly) unregulated crypto world. Telegram users might have noticed there are many bots offering free coins. But once you reach the minimal withdrawal limit you are asked to pay a fee to prove you are human. Some people pay the fee and then… Money’s gone.

GramFree Lottery

The lottery is available to enter every 7 – 24 hours. Depending on your user status this will change. If you win the lottery, you have the chance to earn between 1 gram and 5,000 grams. But can you really win the GramFree lottery? Well, you will occasionally win small numbers of grams, but you will (very) likely never win more than that. After testing the lottery myself, I was able to confirm that the chances of winning are very, very low – no matter how many tickets you buy. Again, this is a common scheme. Just look at the GIF above. 😉

Videos and Referrals

GramFree also rewards users for watching videos about the website. These videos are submitted by users and are designed to try and bring more people to the website.

You are also rewarded for bringing new members to the website. While the referral rewards change over time, you earn below 10 grams for each referral.

These referrals don’t always pay either, as you only earn Grams when the person you recruited reaches level 2.

But what are Grams?

On GramFree’s website, you are given Grams as a form of currency. Users are told they can exchange Grams for real money, but this barely true. So let’s take a look at the real value of a Gram.

While Grams have an exchange value outside of the website, they are not a proper cryptocurrency until they have been fully developed. As of October 2021, 1 Gram is equal to 4.1USD, but the Grams you earn on GramFree are worthless until you “cash-out”.

In order to withdraw the money you have earned, you need to make over 500 Grams. That means you would need to make the equivalent of $2000 on GramFree to be able to cash out.

But how easy is it to make 500 grams? Not very. It would take you months to make 500 grams doing the daily tasks. These daily tasks include:

  • Signing SMART contracts (you earn 1 Gram per contract).
  • Recruiting other people (less than 10 Gram per person)
  • Watching videos (0.1 Gram per video).
  • Entering the daily lottery (an average of 1 Gram per entry).

Just do your math. 😉

Many GramFree fans have tried to make money from new recruits by promising the website can make you rich. That’s a fu***** lie. While GramFree may sound appealing, it is extremely difficult (if not impossible) to make any money from this website – which has lead us to the assumption that GramFree is a scam. Every task on the website is designed to trick you into buying Grams.

For example if you do choose to buy Grams, you cannot buy less than $1,000 at a time.

Of course, the website also has access to your data, so they could always make money from that too.

While there isn’t anything wrong with a company making money, companies that lie to their customers, trick them into purchases and engage in misleading advertising are scams.

Everything on GramFree is designed to do just that – trick you into believing that what you are seeing is legit.

Who is behind GramFree?

Part of the suspicion comes from the anonymity of the website. No one is listed as the owner, and there is no public management team. This is incredibly unusual for a startup, as part of the appeal of a startup company is their visionary founder. 

Is GramFree A Scam? 

In short: Hell yes!

GramFree promises users money they have no intention of providing. They use false advertising, tricks to get you to buy grams and cheat users into bringing other users into the scam. At most, you will make a few dollars for hours of your time, your data and your dignity. Although you will have made that money, you’ll never see any of it – as you’d need to earn 500 grams before you can withdraw any money.

The popularity of this website isn’t due to their success as a business but is instead due to their recruitment strategy. You can earn grams for every person you recruit and every post you make advertising the service. This brings more users in, doubling the amount of money and data GramFree has.

To look into who owns this website, I went to their entry. The name of the person who registered this domain has been “redacted for privacy”. However, the entry does tell us a few interesting things. 

  • This website was registered from Finland (through Namecheap LLC).
  • The website was only registered on the 29th of May 2020
  • The website is hosted on the IP address is not the location of the website owner. The IP address is held by NameCheap LLC, as a quick search shows you hundreds of other websites hosted there.

There is also no sign of whoever owns this company on LinkedIn – meaning no one wants to own up to creating this website.

How to identify a scam?

Well, there’s a short article here on CryptoCrips. Just read it. 😉

…and now for something legit:

As you might or might have not noticed, there is a lot of fraud in the unregulated crypto world. We strongly recommend you to stick with legit and trustworthy services like those we’ve listed on our ‘Earn Free Crypto’-Page. Check it out now! 👍

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