Are you a fanatic or astute freak of Multi-Level Marketing Business, If No, then this my chymall review may not be actually the kind of business you are needing?
Chymall works as an online investment platform that claims to reward you with 5% of your invested fund every 10 days. Alternatively, this pattern of investment indicates that in a two-month period, you’ll have recovered 45% of your investment.
The truth is they are so much misleading/false information that lures people into fake business which normally they should have restrained from, and in the end, these innocent people get stuck and end up losing their money.
This article will genuinely explain to you all you need to know about chymall in the following subtitles:
1. What is Chymall Trading all about?
2. Is Chymall Real or Scam?
3. Why Chymall Is a Scam?
4. Is Chymall a Registered Company?
5. Who is the owner of Chymall and a lot more?
6. Is Chymall A Registered Ecommerce Company
7. Is Chymall A Pyramid Scheme
8. What Other’s Says About CHY MALL
So endeavor to read this guide with care so you can know the disadvantages and the advantages of doing business with Chymall, and then you can then make up your mind either to do business with them or to back down.
By careful observation of this investment pattern, you’ll realize that Chymall doesn’t seem to guarantee you any profit. Instead, it guarantees you the recovery of your capital (invested fund), only after 6 months and 20 days of investment.
Despite noting that you can hardly earn from Chymall through your invested fund, you might want to remain on the platform. This could be in order to recover your capital or utilize the platform’s referral option for making a profit.
Basically, generating referrals is practically the only way you can make a profit (or recover your invested capital) on Chymall in less than 6 months.
This implies that if you don’t recruit new members for Chymall, you’ll have an unlikely chance of making a profit, not to mention recovering your invested fund.
Many people keep making this investing and networking mistake, and in the end, they start facing issues, not making a profit, and at times not being able to secure their startup capital.
What is chymall?
Chymall is an online shopping mall like BC Market, eBay, Amazon, Jumia, Konga, etc. but with a difference. It runs on a system called New Retail.
New Retail is a system proposed by Jack Ma which allows customers to buy goods/services at both wholesale price and retail too.
According to the company, You buy at both the retail price and wholesale price too. However, your wholesale products are sold for you while you earn a profit.
Profit earned per 10days of trade on CHYMALL is 5% of your total money.
Chymall is associated with a handful of pitfalls and one of these (pitfalls) is its “poorly designed/constructed” website. According to some users, the website is not user-oriented as it is not well suited for their smartphone screens while perusing the website. Some of the abysmal highlights of the Chymall website range from a poorly built FAQ page down to a substandard (website) layout and a number of deceptive features.
Moreover, the website has been condemned for failing to support any verified online payment mode. Frankly, the website’s disorderly organization makes it a sort of unprofessional development which, in turn, buttresses the conviction that Chymall is a fraudulent investment scheme.
Is Chymall Real or Fake?
According to a post cited on their Facebook page Chymall Africa, Chymall is not a scam, hence chymall trading is legit. Here are some terms used to describe their legitimacy;
- Chymall is not a PONZI SCHEME
- CHYMALL IS NOT a High-yield investment program (HYIP)
- CHYMALL IS NOT INVESTMENT PLATFORM
- Chymall is just a MALL (Online Shop) where you can make money on it via New Retail
- Chymall has a presence in different countries of the world and there are over 10 Country’s currency on the App
- Chymall has unique products and services it renders to her teaming members as such can’t be classified as a Ponzi scheme
- Profits in Chymall are earned when you trade. If you don’t trade, you don’t earn.
- All registered members get their products delivered to their physical address.
- You decide to do what you please with the products.
So What is Chymall then,
Chy mall is a product-based E-COMMERCE SHOPPING MALL where they do buy and selling like other shopping malls.
But then, it makes use of the network marketing business model to promote its business by rewarding customers who promote quantum energy products through their platform.
Who is the Owner of Chymall?
MR. ZHANG YUAN is the owner of CHYMALL (aka. SAIRUI INTERNATIONAL HOLDING GROUP)
According to sources, Zhang Yuan is a multi-millionaire in China and also the Governor of a Global conglomerate.
He has a Group of companies which are:
- Qinhuangdao Hai Zhiming Commerce and Trade Co. Ltd
- Weihsi Sairui E-commerce Co Ltd
- Hebei Sai Chuang Ruixiang Biotechnology Co LTD
- Qpinhuangdao Sairui E-commerce Co Ltd
- SAIRUI E-COMMERCE GHANA LIMITED
Sairui Group was established in 2008 but the E-commerce aspect started in 2013 in China and a few months old in Africa with the Head office in Ghana.
The owner of Chymall is into Biotechnology, Construction, and E-commerce. According to Forbes, he is one of the Top 10 Entrepreneurs in China.
Is Chymall A Registered Ecommerce Company?
Yes, Chymall is a registered company. Below is an image proof of their registration at the Registrar Generals Department.
Is Chymall A Pyramid Scheme?
Despite the fact that Chymall has networking that makes it looks like a pyramid scheme.
The company also proves that they are not a pyramid scheme.
Here is Why:
In Sairui mall (Chymall):
- You can earn without referring to anyone by trading weekly. Trading takes just about 2 minutes of your precious time.
- Own mobile App for trading.
Even if you decide to refer, you get handsomely rewarded. Lots of awards and cash, up for grabs.
No compulsory selling. Company sells products for you on their platform and pays you your profit. Its hassle-free.
No autoship. There is no compulsory buying before you earn.
The trading capital can be withdrawn at any time. Note that, when you withdraw your trading capital, you won’t be able to trade to earn weekly until you fund your capital back.
Withdraw earnings through mobile money, cash, Bitcoin, bank and other means.
African headquarters in Accra at Osu Danquah-Circle. Open for visitors daily except Sundays. Sairui is an International holding company so it has many offices around the world. Anyone around the world can join even if you are in space.
CHY MALL Products
Some of the products of CHY MALL E-COMMERCE that are given to partners in addition to 15% earnings monthly Chymall products are Quantum energy products.
What Other’s Say About CHY MALL?
There have been some controversies about chymall as to whether they were really regulated in Ghana, On 8th January 2020 The Securities and Exchange Commission Porpulary known as SEC released a public notice warning the general public that Chy Century Heng Yue Group Limited is not licensed to carry out any Capital Market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929). read the full statement below:
Contrary to what is been circulated by the company that, they were licensed and regulated by GIPC, The Ghana Investment Promotion Center says it is an offence for Chinese firm, CHY CENTURY HENG to undertake activities in the capital market.
The Center also said CHY’s partners, SAIRUI E-COMMERCE GHANA LIMITED is not registered by the Center to operate, and as such, there is no record of activities by this particular enterprise.
In a statement, GIPC said “for the avoidance of doubt, it must be noted that the GIPC Act 2013 (Act 865) under section 24 (1) mandates the GIPC to register all enterprises with foreign participation in Ghana. However, section 1(2) of Act 865, in relation to the registration of enterprises does not restrict compliance with the requirements of any other enactment. Consequently, allegations that CHY CENTURY HENG YENG GROUP LIMITED is engaged in various activities including Capital Market activities which are outside its registered objects at the GIPC, amounts to an offence under section 40 of the GIPC Act 2013(Act 865).”
It explained that GIPC as a responsible state agency has commenced investigations into the allegations and will assist other relevant state agencies in their ongoing investigations and inform the general public on its findings and next course of action.
“In the intervening period, we encourage the general public to be vigilant and stay clear of any unlicensed investment scheme”, it said.
The question now is; WHERE DID THE COMPANY GET THIS CERTIFICATE FROM?
Mitrobe Network, a well known Tech news hub also Thinks Chymall Is a Scam, They provided a number of valid reasons for substantiating that Chymall is far from being a legit online investment platform.
Below are their observable reasons why Chymall has been labeled as a scam:
- Chymall describes its CEO as a Chinese billionaire but unfortunately, the globally acclaimed Forbes does not recognize him whatsoever. Besides not featuring on Forbes, the purported Chymall CEO barely maintains a Wikipedia profile which could have been an authentic source of information about him.
- The Chymall Website Is Terribly Unprofessional: Observably, the website of Chymall is one of the major blemishes of Chymall. Not only was the website poorly developed but also, it lacks a verified mode of online payment. More disappointingly, Chymall is devoid of a policy page, hence further lending credence to the widespread belief that it is a scam.
- Chymall Operates Quite Similarly to Pyramid Schemes: Chymall claims to sell a varying number of products including pendants and perfume, probably in order not to seem like a pyramid scheme. But in utmost reality, Chymall is quite similar to pyramid schemes
in that you can only earn Chymall’s bonuses through referrals. While this is a clear red flag (for you to steer clear of Chymall), it’s also an indication that you’ll hardly recover your invested capital on Chymall if you don’t refer people to the platform.
Conclusion
Hopefully, this review article has opened your eyes to why you should avoid Chymall at all costs if you really want to, but for Multi-level marketing (MLM) lovers, you can give it a try if you have enough cash to spare. While it may not seem very crystal to you at first, Chymall is nevertheless another scam investment platform quite similar to pyramid schemes.
