Updated: Based on the new reports gotten from members, this platform is of high risk, kindly avoid any sort of Investment with them.(Chymall has 90% red flag for new investors)
What is Chymall?
Chymall is an online shopping mall like the eBay, Amazon, Aliexpress, Konga, Jumia but the difference is that Chymall enables you to earn, Chymall was founded by Yuan Zhang The C.E.O and founder of Sairui Mall – CHY Mall
The company equally claims to be involve in e-commerce marketing ,gaming and innovative businesses.
The Chy mall investment business offers its investors the opportunity to make money without selling any product or recruiting. Investors just need to buy packages depending on their risk ability or capability.
The Chymall investment scheme offers 5 Profitable packages labeled VIP 2 , VIP3 ,VIP4,VIP5 and VIP6 . This packages are the profit making packages which require you to have $140 280$ , 840$ , 1680$ 3360$ respectively to make money with Chymall .Investors can make up to 168$ per 10 days and up to 504$ per month.
Each package is said to correspond to a product which investors can purchase depending on the stock available .
As mentioned earlier, this company claims to offer Ecommerce services. We found out that the company offers sales of product in many categories some of which include cloths, shoes ,bags, watches, Mobile phones, electronics computers, auto parts ,fitness and entertainment, kitchen ware, pet ,books ,beauty products among others
Red Flags About the Chymall Investment Scheme
Such Investment business model is not the first of its kind targeting mostly African countries despite the usual claim of world wide coverage. We have seen the likes of Bitconnect, Bitworld, among others. We found certain things worth questioning on this platform.
Chymall has a flash website design with a Dummy number ”400-600-0888”.
Have you noticed this number is found on several websites?
Why would a reputable company have a dummy number as their hotline number? You can find this number on many websites
The Second thing that made me curious about this Chymall is the Bitcoin deposit . To deposit 1000$ in your chymall account which many of their members discourage so as to make money with the chymal credit, you will need to pay a fee of about $72 dollars. This fee cannot be accounted for because you will still pay the Bitcoin fee on your wallet. Why extort money from investors given that there is already a registration capital before a trading capital? Top Investors and Chymall team can answer better
The third thing i found about this site is the very poor customer service they have. When i found out the high fees involve in depositing with Btc , I tried getting to the team and a number was given to me via whatsApp. I have to wait this long to see if i can get a respond to this so called support number. The only thing i got was an automated message requesting for transaction details. when i proceeded with my inquiry on the high fee, no respond was gotten . Tuesday 15 Sep 2020 till today 18 Oct 2020 that i am updating this post.
Thus the company care about making money and not ready to give any explanation to investors why they operate in a certain way. This is a red flag to a company that will manage your money.
Since me message was not read (No blue tick) I can conclude that these guys have disable the blue tick for delivery so they can reply to messages that please them. If you are a company using WhatsApp for support, it is very important to have the read tick (Blue tick) enabled.
The fourth thing i found about this company are Empty pages and empty product categories . This makes me doubt if the are really an ecommerce site. Since people are interested in doubling their money, they wont notice some of the product categories are there to convince them to invest.
We even found a product of zero dollars on the website. I was like are these guys serious and when I clicked to order, on the product page the product is out of stock .
Is chymall Legit?
Chymall company uses new investors money to pay old members, And that’s what makes it a pyramid scheme However it has an offer/services, this makes it legit but not reliable , nonetheless most feedbacks we get from members are positive as at the time of this post.
Should I Invest in Chymall?
Every investment opportunity comes with risk. From the packages above you can make money with Chymall. You know the owner of the company as well as what they do to make money.
Because the profits are low compared to previous investment opportunities can give you hopes of sustainability . But one thing I know about such business model is that there have an expiry date.
The company equally have bank accounts in the countries there operate in Africa especially Chymall Nigeria, Chymall Ghana and Chymall Cameroon teams which I have interacted with. This means you know some names or places you can run to if something goes wrong with your money.
The company is registered, which is equally something positive. we don’t know about insurance which is very important for a company that operates in this manner.
If you a willing to take some risk with some extra cash then you can give Chymall a try and wait for the outcome.
also, read 13 Hot Selling Products in Nigeria (2022)
What to do
1. The first thing for you to do is to register and invest your money. This capital will be used in buying and selling real physical products that will yield 5% profit every 10 days.
2. After buying at the wholesale shop, the company gives you two options; either they sell for you so you can make profit or ship to you.
3. The company sells for you on the online mall at RETAIL PRICE within 10 days, and then pay you back your capital plus your 5% interest. After which you can reinvest or withdraw anytime.
Final Verdict On Chymall
Chymall has a very poor web design and layout which also portrays a lot of scam signals. The website’s Frequently Asked Questions (FAQ) page is also poor with language errors all over. There is also no verifiable online method of payment or proper organization.
However Some platforms like Trust pillot has rated Chy mall to be trusted and most reviews and feedbacks from chymall are positive.
DISCLAIMER: this website is not in anyway affiliate with friendsimpact.com hence this review is based on honesty and broad insight.