Penny Cyclers Review – Huge Scam Or Legit System?

Penny Cyclers ReviewIf you’ve been paying attention lately, you’ll notice that Penny Cyclers has been getting a lot of hype.

Because it’s new, it’s getting a lot of buzz and if you’re in an online business, I am sure someone will push it on you at some point.

It’s especially popular on social media at the moment.

I do want to let you know that I am NOT affiliated with Penny Cyclers as a member or distributor.

My goal is to gather all the facts in one place for you so you can do your research – and it’s all here in my Penny Cyclers Review.

Is Penny Cyclers a legit business, or is it a complete scam?

Will I be able to build a business with it?

I tell you all about it in my Review of Penny Cyclers.

Read below to find out more.

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What Is Penny Cyclers?

On Penny Cyclers’ official website, you won’t find a drop of background info for the company in the slightest. Try as I did, there’s simply nothing here in regards to info on who’s running Penny Cyclers, when it was founded, where in the world it’s based out of, and more.

The domain name for the company website (pennycyclers.com) was registered on July 25, 2017, but since this registration was done privately, it’s impossible to tell where it took place or who owns the domain.

I did manage to track down an official Facebook group for Penny Cyclers, and the single admin for it is a man by the name of Dan Haltom.

Dan Haltom reportedly resides in the United States, and after doing a little bit of research, it became rather clear that the man has been involved with the MLM underbelly for quite some time.

During just this past year, Haltom has been seen promoting Cryptocurrency Bank MLM, Unicorn Adz, My Cycler, and Pacific Ads.

Penny Cyclers Scam

What Products Are Being Sold?

Product lines often serve as the backbone for legit MLM opportunities, but in the case of Penny Cyclers, there simply is not one to be found.

No goods or services are being marketed or sold to retail customers, and as a result of this, the only thing that affiliate have to offer is the affiliate membership itself.

After someone choose to sign up with Penny Cyclers, they have the chance to buy into positions within the bundled matrix cycler.

In addition to the income opportunity, buying a matrix cycler position also comes with access to advertising credits that affiliates can use to display custom ads on the Penny Cyclers website.

Info On The Penny Cyclers Comp Plan

The matrix system that Penny Cyclers offers costs 3 cents per position to buy into, and it uses an eight-tiered 3×1 setup.

Every position that’s bought is based on an on-going subscription, meaning that you’ll need to hand over 3 cents every single day in order to keep it active. Should you fail to pay those 3 cents on any given day, you then forfeit any and all other positions you own as well as any commissions that were earned with them.

The 3×1 matrix setup is rather simple, with only thee positions needing to be filled in order to move on to the next tier. When the positions are filled, a cycle is triggered and a subsequent commission is then paid out.

The commissions attached with each of the eight matrix systems is as follows:

  • Matrix 1 — Commission of $0.01
  • Matrix 2 — Commission of $0.03
  • Matrix 3 — Commission of $0.03
  • Matrix 4 — Commission of $0.06
  • Matrix 5 — Commission of $0.09
  • Matrix 6 — Commission of $1
  • Matrix 7 — Commission of $5
  • Matrix 8 — Commission of $50

Along with the direction commissions, affiliates can also earn a marching bonus of $0.05 whenever a personally recruited member manages to cycle out of Matrix 5 and 6, and that matching bonus is increased to $1 when they cycle out of Matrix 7 and Matrix 8.

What Will It Cost Me To Join Penny Cyclers?

If you’d like to join Penny Cyclers, doing so won’t initially cost you anything as the affiliate membership is free.

However, in order to actually participate in the income opportunity being offered, you’ll need to make a deposit of $5 minimum.

In addition to this, affiliates are required to pay $0.03 every single day in order to keep earning commissions throughout the compensation plan.

Any Truth To The Penny Cyclers Rumours?

Any time a new business opportunity launches, you will always hear rumours about them being scams – so is Penny Cyclers a scam?

From reading above, you might already be thinking Penny Cyclers is a scam.

So, is it?

Is there a Penny Cyclers scam, or is it legit?

To be honest, Penny Cyclers isn’t a complete scam.

However, there are some red flags to be worried about, which I discuss in the conclusion.

See my tips below for helping to make money.

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And Now, My Penny Cyclers Conclusion

With Penny Cyclers, we’re dealing with a company that claims to offer affiliates an ROI of $56.22 after making a payment of 3 cents.

There aren’t any funds making their way into Penny Cyclers aside from affiliate investments, and because of this, newly invested money is turned around and used to pay off existing members.

In other words, Penny Cyclers is a Ponzi scheme.

Like with all other Ponzi schemes that have come and gone over the years, Penny Cyclers will be no more once investment activity dies down.

Dan Haltom will make off with the lion’s share of the cash thrown into the company, and the majority of affiliates who are involved will lose out.

Simply put, your time is much better spent elsewhere.

I hope you have gained value from my Penny Cyclers Review.

I have put all the details you need to know here, because all other reviews of Penny Cyclers have been fairly limited with details.

If you do decide to proceed with Penny Cyclers or any business, you’ll find my free training helpful – I will show you how to make money online.

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