Many people are looking for more streams of income, especially now that the inflation streams higher by the day while the people’s purchasing power rappels low. While checking across different platforms, I stumbled on Chymall Siruimall (or simply “Chymall”) like some people call it. I decided to do some research on it.
What is Chymall? Is Chymall real? How does Chymall say they earn money? Is Chymall legit? Is Chymall a scam? These are questions running through a lot of people’s minds right now.
In this article, we are going to share all we know about Chymall Investment with you without holding anything back.
What is Chymall Investment and how does it work?
Chymall Investment can be referred to an online retail marketing and investment platform which promises Return On Investments (ROI) to investors who have put resources into their business.
Basically, the idea behind Chymall is an ecommerce website for shopping, but cost of the goods and online spaces are funded by individual investors.
They claim to allow the investors to buy the products at wholesale prices, and in turn, sell the products at the open market at retail prices. At least, that is the idea.
Chymall investment promises 5% on your investment every 10-12 days.
So how does Chymall work?
Chymall takes your ‘investment’ from you. Then, they credit your designated bank account 5% of the entire principal investment every 10 days. This means by the end of the month, you’d have received 15% of your principal.
More so, Chymall runs a ‘Refer More People’ arrangement that is hinged on repayment. That is, a referred person is unlikely to make all their money back if they fail to refer more people to the platform. Tacky.
Is Chymall Investment Real/legit?
It is true that not every business/platform out there is in operation to make some sort of profit for whoever is behind it, while providing value.
However, in the case of Chymall, while reviewing their ‘e-commerce’ platform, I discovered a lot of anomalies which are absolute RED FLAGS. Here are a few of them:
- Non-verification of emails and phone numbers at registration
- Chymall, or any of its known affiliates, are not registered with Securities & Exchange Commissions, who are the regulators of the securities and investment ecosystem in Nigeria. Here’s SEC‘s official website.
- Non paid members cannot purchase any product o the platform as they would get an error message “the member has no level”.
- Tacky and disoriented website
If Chymall does not sell items to non-members/investors/affiliates, so how do they make the money they pay as ROI? Your guess is as good as mine!
Chymall Investment is an absolute scam. They are not an ecommerce platform, nor are they a genuine online marketplace.
They are simply just taking from Peter to pay Paul – typical Ponzi-like scheme.
What we have had in this article is our honest review of Chymall Investement. We recommend that you take a look at the platform, its dynamics, and make your decisions for yourself only.
Information contained on this article are just that – a piece of information. You should not use this to make financial decisions and we highly recommended you seek professional advice from an authorised expert.
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