Have you been approached to join MyMoneyIndustry and want to know if it's a scam or not?
If so, this review is for you.
Below you'll find everything you need to know about this company including background information, price to join, compensation plan breakdown and more.
You'll understand if MyMoneyIndustry is right for you by the time you're done reading.
Let's get started!
Price to join: $22 to $11300
Do I recommend? No!
Summary: MyMoneyIndustry is NOT a company that you'll want to join.
This company is a ponzi scheme and pyramid scheme. It has no product or service to offer and the only revenue here is new investment.
These schemes never last long and are 100% guaranteed to collapse. When this happens basically everyone loses money except the owners and the people who got in early.
DON'T JOIN MyMoneyIndustry!!
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1) What is MyMoneyIndustry? MyMoneyIndustry is a pyramid/ponzi scheme that recently popped up.
It seems to be targeting Africa and South America, although it could be in other parts of the world as well.
2) How do you make money here? There's really one way to make money here and that's by recruiting.
Basically you pay for the privilege of recruiting.
Once you pay you get a portion of the investments of the people you recruit and the people your recruit's recruit.
3) Are there any red flags? There's so many red flags here. The first red flag is the owners aren't made public.
This usually means the company is headed by serial scammers that do this stuff all the time.
The address they give for their company is fake as well.
The address they give is 10 Anson Road, International Plaza #29-05A Singapore. If you Google this address, however, you'll just see it's a virtual address.
Their business is not actually located there and it's impossible to really tell where it's located.
If a company isn't being honest about who runs it and where it's located, can you really trust anything they say?
MyMoneyIndustry Is A Ponzi Scheme And Pyramid Scheme
There's no such thing as free money.
Anytime you're promised to just invest money and there's nothing being done to earn a return on investment, you're in a scam.
That's the case with MyMoneyIndustry.
There's no service being provided here, no products being sold and there's no trading being done to earn real revenue.
The ONLY source of revenue here is new investment.
This is the textbook definition of a ponzi scheme which is illegal in every part of the world.
The reason they're illegal is because they collapse 100% of the time. Eventually new investment slows down and when that happens there's not enough money to pay everyone out.
When this happens MyMoneyIndustry will stop paying people out, prompting a collapse. Basically everyone loses money besides the owners.
This is also a pyramid scheme because recruitment is incentivised. It looks like the following:
This is only a problem when there's no product to sell and recruitment is the only way to make money, which is the case with MyMoneyIndustry.
Again, once recruiting slows down (the source of new investment) the scheme collapses.
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How Much To Join?
Joining costs anywhere from $22 to $11300.
The more you pay, the more you make from your recruit's investment.
MyMoneyIndustry Compensation Plan
The compensation plan is pretty simple and is a 3x2 matrix.
Basically, you pay to be able to recruit people (there's 5 different prices you can pay for from $22 to $11300).
From there you have to recruit people to earn money.
It's a 3x2 matrix because you recruit 3 people and can earn 2 levels down (to your recruit's recruits).
It looks like the following:
So you recruit 3 people and each person you recruit recruits 3 people. This means you can earn from 9 people in total.
Once you reach your 9 person limit you cash out and invest more (starting the whole process over).
So you invest $22 for the first package and fill out the 9 positions in your downline. This gets you a payout and then you invest in the second package which costs $80.
Again you fill out the 9 positions to earn commissions and to get to the third package.
This happens until you get to the last package which requires $11300. In the end you have a chance of earning $70,000.
Again, though, this is a ponzi scheme that's going to collapse at some point. It's going to be nearly impossible to recruit enough people to make any money before this company runs away with the majority of everyone's money.
Who knows if they'll even payout if you do recruit enough people.
What I Like About MyMoneyIndustry
What I Don't Like About MyMoneyIndustry
There's so much here not to like and the main things I dislike are:
There's no real revenue here besides new investment and the new investment is generated from recruitment.
This is the literal definition of both a pyramid scheme and a ponzi schemes.
These kind of opportunities are guaranteed to collapse and when it happens you're not getting your money back.
No Info On Owner And Fake Address
I've reviewed hundreds of online and home business opportunities in the last couple of years.
Every single company that isn't honest and upfront about who owns it and runs it is a scam.
Also, another major red flag is the address they offer is just a virtual office which means it's a fake address.
This is just meant to hide where MyMoneyIndustry is actually operating out of and to hide the identity of the true owner.
Is MyMoneyIndustry A Scam?
MyMoneyIndustry is 100% a scam.
It has all the signs of a scam:
- No product or service offered
- Recruiting is the only way to make money
- Doesn't say who the owner is
- Gives a fake address
Anytime you see one of these with a company it's most likely a scam. See all 4? You know it's one.
Don't waste your time or money here because it's going to collapse and most people will lose their money when this happens.
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Investing in MyMoneyIndustry would be a major mistake.
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