Penny Cyclers Review – Legit Company or Just Another Scam?
Welcome to my Penny Cyclers Review!
Whether you have been involved in the MLM scene for years or whether this id your first online venture, you are probably here because you want to know more, right?
You work hard for your money and you want to be sure that you are investing it into a legit business.
So, with so many MLM companies out there, how can you be sure you are picking the right one?
Reading reviews just like this one that provides you with information about the company, the products and the compensation plan is a great place to start!
So let’s get right to it!
Penny Cyclers Review – The Company
Penny Cyclers doesn’t offer any information on their website about who owns or operates the business.
The Penny Cyclers website domain was registered privately as “pennycyclers.com” on the 25th of July, 2017.
A quick online search revealed an official Penny Cyclers Facebook group that lists one admin, Dan Haltom.
Based out of the US, Haltom has been promoting various MLM companies for many years.
Penny Cyclers Reviews – The Products
Penny Cyclers does not have any retail products or services to offer.
Affiliates who join Penny Cyclers simply market the affiliate membership.
Once an affilaite joins Penny Cyclers, they can buy matrix cycler positions.
Each cycler position purchase includes ad credits, which affiliates can use towards advertising on the company website.
I always recommend legit companies with retail products.
The Penny Cyclers Compensation Plan
Penny Cyclers affiliates must buy 3 cent positions in an 8-tier 3×1 matrix cycler in order to participate in the company compensation plan.
These matrix positions are a subscription, requiring a daily 3 cent position purchase.
If an affiliate cannot pay for the daily 3 cent position, they give up all previously purchased cycler positions and any associated commissions.
A 3×1 matrix simply requires three positions to be filled.
Once these 3 positions are filled, a “cycle” occurs, resulting in a commission bring paid out and the position “cycling” up to the next tier of the cycler.
Payments across the company 8-tier cycler work like this:
- Matrix 1 (positions cost 3 cents) – 1 cent commission and cycles into Matrix 2
- Matrix 2 – 3 cent commission and cycles into Matrix 3
- Matrix 3 – 3 cent commission and cycles into Matrix 4
- Matrix 4 – 6 cent commission, generates a new Matrix 1 position and cycles into Matrix 5
- Matrix 5 – 9 cent commission, generates three new Matrix 1 positions and cycles into Matrix 6
- Matrix 6 – $1 commission, generates three new Matrix 1 positions and cycles into Matrix 7
- Matrix 7 – $5 commission, generates thirty-three new Matrix 1 positions and cycles into Matrix 8
- Matrix 8 – $50 commission, generates thirty-three new Matrix 1 positions and one Matrix 8 position
Affiliates earn a matching bonus of 5 cents when personally sponsored affiliates cycle out of Matrix 5 and 6.
Affiliates can also earn a matching bonus of $1 when personally sponsored affiliates cycle out of Matrix 7 and 8.
Cost To Join Penny Cyclers
The cost to join Penny Cyclers as an affiliate is free, however to participate in the compensation plan, it will cost a minimum deposit of $5.
There is also an ongoing 3 cent daily subscription fee.
Verdict on Penny Cyclers
The way this company works is pretty simple…
ROIs are generated by new affiliate investment and ongoing subscriptions…
Affiliates pay their daily 3 cents, which then goes towards paying existing members…
The only way to keep up with their ROI promises is by continually recruiting new members…
However, it is virtually impossible to keep recruitment numbers consistently high…
So when those numbers start to drop off, so will ROIs…
And this is usually followed by a mass exodus and loss of income….
So, if you do join this company, do it at your own risk…
I hope you enjoyed my Penny Cyclers review and if you have any questions, please leave them in the comments below…
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