This post is an in-depth review of PetronPay, which offers a lucrative oil investment opportunity with a 300% ROI.
Here we will go through PetronPay Profile, Business Plan and at the end, we have shared our opinion on PetronPay, why it can be a Ponzi Scheme?
So let’s get started without further ado.
What is PetronPay?
According to PetronPay.com, PetronPay is a Switzerland-based entity.
PetronPay allows people to participate in their investment opportunity.
They invest in Petroleum which is often called Black Gold by them and promise 300% ROI.
On the official website of PetronPay, no detail about founders and its origin is provided.
Wayback Machine states, PetronPay.com is active from September 2020. While claims in some YouTube videos are that, they are operating from March 2010.
SEO tool Similar Web estimate that most people visiting this site are from the USA and other African countries.
|Company Name||Petron Pay|
|When Started||September 2020|
|Email ID||[email protected]|
PetronPay Investment Pack
PetronPay calls their investment package Barrel Pack. These Barrel start from $25 to highest $1,999.
Each Barrel purchase guarantees 0.2% to 2.5% return every day and some binary points are also given for other income calculations.
You can view all Barrel Pack details below.
|Barrel Cost||Accession Charge||Binary Points|
PetronPay Compensation Plan
PetronPay offers 5 types of income.
- Profit Sharing
- Direct and Indirect Recommendation
- Binary Earnings
- Three Stars Bonus
- Renewal Bonus
Now, let me explain every income one by one.
1. Profit Sharing
Profit Sharing is between 0.2% to 2.5% daily on purchased Barrel pack. Expensive pack generate higher profit sharing income.
Daily return is offered only on business days from Monday to Friday and the total return will be 300%.
These returns vary, as PetronPay invest your amount to oil market to generate this profit.
2. Direct and Indirect Recommendation
On every direct referral, PetronPay gives 50% on the first purchase amount of downline.
If your direct downline invests in $50 Barrel, then you will get $25.
For indirect downline, PetronPay promise to give 10% on the first purchase amount up to 6 levels.
3. Binary Earning
Binary Earning is based on earned Binary Points. On every purchase, affiliates get some Binary points.
Every member has 2 Teams, Left and Right.
50% of all Binary points from the weaker team are rewarded to the upline.
Collected Binary Points can be redeemed as decided rewards.
4. Three Stars Bonus
Whenever a PetronPay Member recruits 3 direct downlines, they get 10% of the total Barrel purchased amount.
For example, first three directly referred downline A, B, and C purchase barrels of $25, $50 and $99 respectively. The total purchase amount will be $174.
10% of $174 is $17.4, this will be a Three Stars Bonus.
5. Renewal Bonus
If someone in Downline makes repurchase, then 25% of their binary points will be rewarded to the upline.
These 25% binary points are considered of the weaker team only and collected Binary points can be redeemed as decided awards.
Above you saw the investment pack and compensation plan of PetronPay.
But their various things are hidden which shows the dark face of this stunning investment opportunity.
It seems that faces behind PetronPay are hiding themselves.
PetronPay is a public money collective investment scheme, but it is not registered as a company in any country. No legal documents and proofs are available related to its existence.
Earlier they were using an address of USA and later changed to Switzerland. Both addresses look like a pseudo locality.
No proper details of the founder are given. It has a YouTube channel of 10k subscribers which contains video related to its promotion only.
Instagram account is with username johnny_mrgrant but it has zero post and not even a profile picture.
All these are big red flags for PetronPay, especially when it is operating on public investment.
300% guaranteed return with no risk, this claim is enough to understand the danger.
To pay commission to earlier investors they use the money of new investors and the cycle goes on.
If they are investing in Oil Market and generating good profit for now, but what about the future?
There is always uncertainty in the market and it is not possible to maintain a 1% average profit every day.
If PetronPay is damn sure about return, then why they are using the money of innocent people for investment?
They can make a profit with their own money and meanwhile not even need to share profit with millions of people.
My verdict is, It is a PONZI SCHEME and doing money circulation.
Their MLM compensation plan is also a hoax.
To reach more investors they are using the MLM concept to promote their investment package. But very soon it is going to collapse and such schemes are responsible for MLM being called a scam.
Warning From Regulators
Swiss Regulator Finma already put PetronPay on the warning list. As they claim to be from Switzerland and not commercially registered there.
PetronPay is doing securities fraud and those people joining it for 300% ROI, should stop promoting scams.
As such scams spread exponentially, profit for one person costs loss for thousands, so try to keep yourself away from these scams.
One wise decision can save hard-earned money of thousands.