PetronPay Review

PetronPay Review – Is PetronPay an MLM or Pyramid or Ponzi Scheme?

This is my complete review of a company that claims to offer an opportunity to people to invests in oil assets that generate solid returns (ROI), Petronpay.com

In my complete PetronPay Review I will cover:

  • How PetronPay works
  • How people earn money
  • Is PetronPay legit or a scam
  • Is PetronPay a Pyramid Scheme or MLM company
  • The best alternative to PetronPay

So without further ado, let’s get started.

What is PetronPay and how it works?

PetronPay Logo

PetronPay claims to be a platform for investors who want to invest in oil (Petroleum) assets that generate solid returns on investment (ROI) up to 2.5%

PetronPay is a very new company that was found in 2019 and they are operating as a Multi-Level Marketing company but more like a Pyramid or Ponzi Scheme.

They don’t have any products to sell to the public the only way people make money with PetronPay is to sell their expensive memberships that cost $25 to $1999 depending on the membership package.

You have to put in mind every membership has it is own transaction fee of up to $30

The owner of PetronPay is still unknown this is the first red flag and the second red flag is on the website they don’t have any terms and conditions.

So they are not transparent with their operation.

If you want to invest in the digital market or online opportunities and you find out the owner does not reveal his identity this could be the first sign that the company or program is not legit.

I have reviewed another MLM called Solmax Global also the owner is unknown. This is a strategy for most the online investment that does not provide valuable products or services.

They use to run away with people money whenever the business goes wrong.

How to earn money with PetronPay?

To earn money with PetronPay you need to be invited by an existing PetronPay member and give you the referrer code to have access and create your account and buy the membership.

The process to create your account is very simple as you see in the screenshot below:

PetronPay Account

 

Then you will also have to choose the membership package below:

Barrel $25

  • Accession: $5
  • Binary: 5 points
  • Earn 0,2% to 2,5% day

Barrel $50

  • Accession: $5
  • Binary: 10 points
  • Earn 0,2% to 2,5% day

Barrel $99

  • Accession: $10
  • Binary: 20 points
  • Earn 0,2% to 2,5% day

Barrel $249

  • Accession: $15
  • Binary: 50 points
  • Earn 0,2% to 2,5% day

Barrel $499

  • Accession: $15
  • Binary: 100 points
  • Earn 0,2% to 2,5% day

Barrel $999

  • Accession: $30
  • Binary: 200 points
  • Earn 0,2% to 2,5% day

Barrel $1.999

  • Accession: $30
  • Binary: 400 points
  • Earn 0,2% to 2,5% day

PatronPay Compensation Plans

PetronPay has a binary compensation plan which is similar to the Solmax Global compensation plan you as a member are placed at the upline and the two people you recruit are placed on the downline one on the right side and the other one on the left side.

You will earn 50% of the points you generate on your weaker leg. The more point you earn the more money you make and they are up to 11 levels PetronPay member can reach.

The top 10 members who reach 250,000 points which is Sapphire level will qualify for 3 days trip to Dubai. There are also other bonuses to qualify for.

This is what I called shiny objects to motivate you to recruit or invest more in the scheme, in reality, is a trap to get more money out of your pocket.

PetronPay also claims to earn a return on investment (ROI) of 0.2 to 2.5% per day. The big question is what are you selling or what are investing in to have such a return?

As I said before PetronPay does not have any products to sell as a member of PetronPay you will have to recruit people and sell them the dream of investing in barrel oil that will earn a high return on investment and earn commissions.

That how people are making money with PetronPay. The money for the new PetronPay member will be distributed to old members to fulfil their promises of earning 0.2% to 2.5% daily.

This process of distributing money into the scheme is called Ponzi Scheme also known as Paul and Peter system (steal from Paul to pay Peter)

You might be asking what wrong with Ponzi Scheme? The Ponzi Scheme has a short lifespan for the simple reason you can’t recruit over the earth population.

If you can’t recruit more people into the scheme they won’t be any money to be distributed and the scheme will collapse and newcomers are more likely to lose money. (Steal from Paul to pay Peter)

How much can you earn with PetronPay?

PetronPay does not have an earnings disclaimer on its website it is very hard to tell how much you can earn with PetronPay.

According to PetronPay compensation plans member are earning through:

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  • ROI Commission
  • Direct commission
  • Residual Commission

The more people you recruit the more money you make. PetronPay has 11 levels to move to depend on the points you accumulate on your weaker leg.

  • Star – 3000 points
  • Two Star – 6000 points
  • Three Star – 15,000 points
  • Ruby – 25,000 points
  • Emerald – 100,000 points
  • Sapphire – 250,000 points
  • Diamond – 750,000 points
  • Ambassador – 1,500,000 points
  • President – 3,000,000 points
  • Emperor – 6,000,000 points
  • Diamond Emperor – 10,000,000 points

Members who purchase the high membership and recruit a lot of people are more likely to make a lot of the money.

It about time for this Ponzi Scheme to collapse do not invest your hard money in this company.

I would rather recommend learning how to make money online or sign up with Forex signals and learn how to trade in the financial market.

Why you should NOT join PetronPay?

  • The odd of losing money with PetronPay is very high and I can not recommend my reader to join any MLM company.
  • The owner of PetronPay is unknown this first red flag and the second red flag the website does not have any terms and conditions.
  • Any company that deals with an investment need authorizations from financial regulators. PetronPay is no registered with any financial regulators. Therefore they are operating as an illegal investment company.
  • Any company or program that does not have any retail products or services and the only way to earn money is to recruit people is a pyramid scheme and a pyramid scheme is illegal.

Therefore if you are looking for a way to make legit money without recruiting people or buy expensive membership you can check out My Top recommendation platform and learn how to make passive income online.

PetronPay pros and cons?

Pros

Even though petroleum is the main source of energy in our lives the idea is good since they don’t offer what they claim there is nothing positive about PetronPay.

Cons

  • Fake address

If you check on the PetronPay website is written they are operating at Airgate Business Center – Thurgauerstrasse 40, 8050, Zurich Switzerland Set Affiliate Business contacted the office park to find out the response was they do not have such tenant.

  • Unknown owner

As I stated throughout my PetronPay review the owner of this company is unknown this is a strategy most scam companies use to cover their track

  • No registered company

PetronPay claims to be an investment company as an investment company it needs to be registered with the financial regulator which is no the case. They are operating as an illegal company.

Is PetronPay legit? Is it a scam?

It said if an investment is too good to be true it probably a scam that is what PetronPay is. The promise member high ROI up to 2.5% daily is very insane.

PetronPay is a scam and it is not registered with any financial regulator every company should do if you are operating as an investment company.

The screenshot below from Trustpilot should tell you to stay away from PetronPay and look for other legit investments companies like Forex Signals that teach how to trade on forex trading and Wealthy Affiliate teach how to build an online business in absolute any niche that you love.

PetronPay is scam

 

Is PetronPay worth it?

Any company that does not come forward and introduce the owner does not worth your money. Not only that any company that is operating as a pyramid or Ponzi Scheme is set up to collapse because you can not go over the earth population.

PetronPay is not worth your hard money and soon or later their scheme will collapse and you will lose the money that you invest in PetronPay.

Pyramid and Ponzi Scheme company has shot lifespan and also they are on the radar of the government institution like the Federal Trade Commission (FTC)

The best alternative to PetronPay

They are many ways you can make money without recruit anyone. Actually, you can even make money without investing any money by completing surveys and other mini jobs on the websites below:

Name,Earning,Website,
SurveyTime$3 to $5 per daySurveytime.io
Timebucks$2 to $4 per dayTimebucks.com
Ysense$2 to $3.5 per dayysense.com
Swagbucks$2 To $3 per daySwagbucks.com
Paidviewpoint$1.5 To $3 per dayPaidviewpoint.com

Do not expect to make a living with those websites this is just a way to show you that you can make money online.

If you sign up with all these websites you can increase your earnings online.

Therefore if you are looking for a way to invest online I will recommend you to sign up with Forex Signals this is a forex training platform you will learn step-by-step on how to trade in Forex Market.

If you don’t want any about forex and financial markets I will recommend checking out My Top recommendation platform and learn how you can build a stream of income with the internet and affiliate marketing.

This is the best alternative to PetronPay and I have learned how to make passive income with my laptop and internet connection.

Is PetronPay an MLM or Pyramid or Ponzi Scheme? My Final Verdict

PetronPay does not qualify to be called an MLM business period. The company does not have any retailers products or services to offer to the public.

You can make money with PetronPay pay to recruit more pay to join the platform. A pyramid scheme works recruiting more people and earning commissions from everyone who joins the scheme.

If you decide not to recruit people PetronPay claims you will earn 0.2 to 2.5% ROI the question is where this money coming from without selling any product?

PetronPay is Ponzi Scheme that distributes money coming from new members and this business model is set up to collapse and the Ponzi Scheme is very illegal.

If you are looking for a good investment you sign up with Forex Signals and learn how to trade in Forex Market.

But if you are looking for a way to make money online without buying or investing you can start your internet and affiliate by check out My Top recommendation platform and learn to build a stream of income online.

Your PetronPay review and your experience

If you are a member of PetronPay or you have been in the past, please consider leaving your own review whether good or bad it does not matter as long as it is useful to my reader.

Thank You for your support!

 

 

 

 

 

 

6 thoughts on “PetronPay Review – Is PetronPay an MLM or Pyramid or Ponzi Scheme?”

  1. I feel like any company that tries to brand something that old (an old product or concept) as new… is most likely a scam.  It’s very unfortunate to hear of yet another “company” using MLM as their business model.  It’s ridiculous that you have to pay in to a membership and don’t sell any real product?  Is is made to seem as though the membership itself is your “buy in” on oil?  These companies always make their product line and payout models so confusing, intentionally.  Anyway, thanks for sharing.  

    1. Thank you for stopping by. I have seen all in the MLM business model. To be honest, I do not recommend any of my readers to sign up or join MLM company.

  2. Hi, I’ve just gone through this helpful post you’ve shared here about the PetronPay review.  Many people fall into the trap of many scammers because they lack knowledge of assessing if a certain company is a scam or legit. I how you’ve assessed Petronpay and outlined some red flags about it such as unknown owner and no terms and conditions on their websites. These are some of the things we should be considering before investing in some of these highly promising benefits companies. There is too much helpful information on this review and on your site in general. I’ll be sharing this post too to spread the word. Thanks for continuously helping people.

    1. It is very simple to spot a scam just by analysing their website unfortunately people jump into MLM business without assessing if the program is legit or not. In almost my review I always say if the program promises high returns  or more daily returns, you can be sure it’s a scam

  3. I have not heard about PetronPay before, but the minute I read that they do not actually sell any products, but only membership, it was a big red flag that they are most probably a Ponzi or pyramid scheme. It is scandalous that they are using a fake address, with no owner and no company registration, which makes it very difficult to track them down.   

    How long do you think will it take for financial regulators, like the FTC, to track them down and close them?

    1. I can’t tell how long it will take to track them down what I know is this business model is set to collapse if you google PetronPay Review you find that member already starts complaining of no payment. It is hard to keep a business that is set up on recruiting new members.

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