Penny Matrix is a money making scheme that you may have seen on Facebook or you may have been asked by a friend to join the scheme.
The idea is simple – you pay a subscription of $7 per month to get you into the scheme.
To make money, you introduce two new people to the scheme. Of the $7 per month they pay – you get 30 cents for each. Then they recruit two people each and so on. Down the line you continue to get more money from the subscriptions and in theory you can make many thousands of dollars profit.
Of course this a simple pyramid scheme dressed up to look real. For the subscription you get access to a list of ebooks of which many are available free or nearly free on the Internet as they are out of copyright. It’s irrelevant really as participants join the scheme to make money not to get the ebooks.
Penny Matrix tries to legitimize the whole system by including the ebooks but it doesn’t work.
Is Penny Matrix a Pyramid Scheme Marketed As Multi Level Marketing?
The defining characteristic of a pyramid scheme is that to make money recruits must recruit more people and they recruit more people and so on. This certainly applies to Penny matrix.
The biggest issue is that in order to make money, there has to be a constant flow of new members. That might happen for a while, but it doesn’t keep happening. All these schemes run out of people then everyone loses except for the few who started it.
Penny Matrix is one of those sites that sounds far too good to be true, yet, far too many people end up falling for the scam simply because they want it to be real. According to the site, you can theoretically earn as much as $19,659.60 every single month through the system – and all it costs you is $7.
Making money with this program is all about recruiting other people – a lot of other people.
You won’t get rich with Penny Matrix.
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