Is PetronPay A Scam? [Invest In Oil, Earn Daily Gains? What’s the Catch?]
Is Petronpay a scam or should you join this multi-level-marketing venture? It's refreshing to see a business opportunity where you get to invest in oil.
It's even more exciting when you learn that you can get started from as little as $25. But the big question remains, 'is PetronPay legit and should you invest in this company? '
Let me help you to decide before you go spending your hard-earned cryptocurrency on this business opportunity.
And if you want to know the very method that I use to earn myself a passive income online, then just click on the link that follows.
WHAT IS PETRONPAY ALL ABOUT?
The company was founded in March 2010. The idea that the investors had in mind was for Petronpay to become the "biggest petroleum trading platform in the world."
The main point is to give small investors an opportunity to invest in oil assets. As you will see later on, you do not need much to buy an interest in the company.
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WHO IS THE FOUNDER OF PETRONPAY?
Who exactly is the founder or CEO of Petronpay? The official Petronpay website does not offer any owner info.
You might hear a bit about how the company works, but to learn about the owner's you would have to dig a bit deeper.
One of the ways in which you can meet the mystery man is if you reach one of the company incentives(don't worry I will chat about this in their compensation plan shortly).
I, however, learned about the owner by checking out on their Instagram profile.
You will see feeds of a guy by the name of Johnny Grant, the acting CEO of Petronpay.com
HOW TO MAKE MONEY WITH PETRONPAY?
According to Mr. Grant, you can earn daily gains of up to 2.5%.
The main product that you will be investing in, is petroleum.
Petronpay invests in these oil assets. And when you purchase one of their products, they will invest on your behalf depending on the package that you choose.
How to become an investor with PetronPay?
There are various 'Barrel' packages or Petronpay activation plans that you can choose from.
Its starts from $25 and goes all the way up to $1,999.
- Barrel $25
- Barrel $50
- Barrel $99
- Barrel $249
- Barrel $499
- Barrel $999
- Barrel $1,999
Let's say that you were to invest in the $50 pack. By the way, you can only purchase using cryptocurrency. Then depending on market conditions, you could earn anywhere 0.2% to 2.5% per day.
But that is not the only way in which you can make money with Petronpay. They also have a network-marketing-like compensation plan in place as well.
That means that if you invite more people to join you, you stand a chance of earning more money.
THE PETRONPAY COMPENSATION PLAN
You can earn via 6 different ways through their expansion plans.
- Profiting Sharing
- Binary Earnings
- Bonus Three Stars
- Renewal Bonus
- Awards Program
1. Profit Sharing - I talked about this in the previous section. You earn depending on how well the petroleum performs on the market.
Below is an illustration of an investment yielding around 1.5% on a daily basis. It's based on the $249 package.
2. Direct and Indirect Recommendation
You earn a bonus on anyone whom you directly invite to join Petronpay as well as anyone who your referrals(indirect recommendations), invites.
The company has a binary compensation plan in place. As your team grows, your referrals will be placed on either the ''right leg'' or ''left leg'' of your binary tree.
You will earn 50% of the points that are generated on the lesser leg of your team.
4. Three-Star Bonus
Each time you personally enroll three members to the business, you earn a percentage of the sum of the three packages that they bought.
5. Renewal Bonus
You get a bonus on the lesser leg of your team, only if all the team members renew their membership when the time comes.
I think that this part is a bit unfair.
What happens should members on your stronger leg renews? Why can't you get a percentage of that too?
That does not make much sense, does it?
As you climb the ladder and ascend the various ranks, you get awarded points.
For example, on the Ruby rank, you get 25 000 points and on the Diamond level, you get 750 000 points.
The video below pretty much sums up the entire Petronpay comp. plan.
PETRONPAY COMPLAINTS OR COMPLIMENTS? CAN YOU REALLY MAKE MONEY WITH PETRONPAY?
Are people actually making money with Petronpay?
I could not find sufficient evidence to indicate that Petronpay is a lucrative business opportunity.
Let me share some of my findings below.
Number ONE: Earlier on I mentioned that an incentive was in place. It is a 3-day trip to Dubai. You get to meet Mr. Grant as well.
To date, as we speak, there has been no posts or news on anyone winning that challenge.
Number TWO: Then as you might have already noticed, the official website also has no record of any REAL success stories.
Number THREE: And then if you were to check out Trustpilot, a 3rd party review site, you would notice that Petronpay scored 3.1 out of five stars.
It sounds positive but the positive testimonials were vague and not convincing enough. They failed to present proof of earnings to back-up their money claims.
Number FOUR: And finally, take a look at their Instagram page.
The support is not very good. Take a look at these people reaching out for help and no-one around to offer that helping hand.
Number FIVE: Finally, the screenshot below shows an individual that just invested in the company, and has yet to receive any dividends. Remember the company promised at least 0.2% of gains per day!
This guy is still waiting for his first payout....7 days later!
Does this mean that Petronpay is a scam?
Let's take a quick look at the pros and cons, before I give you my verdict.
WHAT I LIKE ABOUT PETRONPAY
There is a real owner.
They have affordable packages.
WHAT I DO NOT LIKE PETRONPAY
No proof of real earnings on their website.
No success stories of existing members.
No income disclosure reports.
Company support is not good.
You can only invest with cryptocurrency
IS PETRONPAY A SCAM? MY PERSONAL OPINION
Reflecting back on the companies compensation plan, it's pretty evident that more money can be made by building your team. In other words, recruiting.
You could possibly earn 0.2% to 2.5% by purchasing one of their packages. It's their ONLY way to earn without recruiting. Yet it yields small earnings compared to a large capital outlay.
Let's also not forget that there is no proof of earnings here.
As with most MLM companies, the recruiting aspect affords the member the opportunity to earn more rewards, points, and ultimately money.
Is PetronPay a scam?
It's hard to recommend a company that shows no track record of success, or poor support. Even if the company is an MLM-venture in, they are not recognized by the DSA(or direct selling association).
Lastly, all upfront investments must be in the form of Bitcoin(or equivalent cryptocurrency). This makes it harder to trace financial transactions and it's not that easy when it comes to requesting a refund.
In my personal opinion, the company is misleading in their marketing, promising easy gains that cannot be backed with any real proof. I personally would not recommend the PetronPay business opportunity.
YOU CAN MAKE REAL MONEY WITH AFFILIATE MARKETING- EVEN IF YOU ARE A NEWBIE
Having said that, there are legit ways to make money online. I earn a passive income using the affiliate marketing business model.
You can start affiliate marketing without needing any previous experience. I joined a teaching platform that showed me how to do it.
True affiliate marketing allows you the freedom to choose your niche or topic. It can be your hobby or passion.
Here are additional benefits that this business model can offer you.
Since you have come this far, I would like to extend an invitation to help you to build your own affiliate marketing business.
Thanks for joining me on this Petronpay review.
I hope that it has helped you out.
If you have any questions or comments, please leave them below.
I wish you everything of the best.
Regards and Take Care