I am not sure if Readbud is actually a scam or not. Is it?

Philippines
July 6, 2010 3:25am CST
I came across Readbud which is a site that pays you for reading articles. So basically it is a PTR site. Although their minimum payout is a bit high at $50, you can earn easily since one article costs about $.05 to $.1, and there are about 6 to 10 articles. So, what do you think, are they scam?
3 responses
@owlwings (39101)
• Cambridge, England
6 Jul 10
Although you may start out by receiving a dozen or so articles to rate every day, you will find that, as your earnings increase, the number of articles available will drop so that it will take a very long time to reach the $50 payout, if you ever do. I am currently at just over $45 and the number of articles per day (originally 20 or so) has dropped from 10 to 8 to 5 to 3 and, currently, 2. You should be careful, when rating the articles, to be sure to read them properly. If Readbud's software detects that you have read the articles too fast (or your times are inconsistent), then when you do cash out, you may well find that the payment is disallowed. This is NOT a 'scam' tactic because you are clearly warned about it in the Terms of the site and they are perfectly within their rights to enforce it. Although there is no real evidence that the site is 'scam', there are also no reliable 'payment proofs' (there are three or four in circulation which are being used by many more people than have actually been paid!). I think there is quite a lot of evidence that the site is not actually making much money and that there will be a lot of people who give up before reaching the payout and many who, if they do reach payout, will not be paid on the grounds that they have "read too quickly".
1 person likes this
• Philippines
6 Jul 10
thank GOD i came across this post. i have 20 dollars already and way way too far to pay out. i am alarmed since i don't usually read the articles there. i just rate them as fast as i can. i just realized that i am committing mistakes. thanks for reminding me.
• Indonesia
8 Jul 10
Yes, you can find the reading time of yours in the website, they are watching how long we read an article, so beware to read it properly ( they have warned us ) Don't give any chance to them to put " reading too fast " excuse to cancel the pay out. But if they were a scam, they will do anything to make us failed. not only for that reading matter. I am still trying on it not in term of earning money, only curious to know what kind of website that is. So, I can report something to mylotters.
• Philippines
14 Jul 10
owlwings, thank you for the wake up call, Most often than not I read the articles on readbud quickly. There are times I only brows it. But you see, I am beginning to have doubts on readbud, because of the negative posts are drastically increasing. Especially now that topffer provided us links, where we can find the source of the articles that we rate on readbud.com Actually I do not know what to believe anymore. I'm beginning to get sad.
• Philippines
15 Jul 10
i have been in readbud for a month now, reading and rating their articles according to the terms. i felt sad when i came across this forum, but how would i really know if its a scam or not?. i better continue reading until i reached $50 and ask payment. if i am paid or not,i will let you kow.
@bonz289 (107)
• Philippines
14 Jul 10
i don't know if this is scam or not, but i have read a lot of forums saying that this is a scam. i have $36 in readbud fund, but the articles they're sending me keeps getting fewer each day... before i could read for about 20 articles a day, now you're lucky enough if they send you more than 5 articles to read. even though we didn't invest any money from them, it's still not good to know that after all of the effort and time we spent on them they're just scam.