MyMoneyIndustry Review (Another Overhyped MLM Investment Scam!?)

It’s likely that you have come across MyMoneyIndustry through an email list, on social media or got it recommended by a friend or family member.

Is MyMoneyIndustry a scam? The reasons why you’re here is because you have want answers right so, that’s what I’m going to provide for you within this MyMoneyIndustry review.

First and foremost I must commend you for actually doing a bit of extra research before committing to joining MyMoneyIndustry. For all you could have known, the product could be a major scam so the fact you’re here right now, researching whether or not that’s the case is a pretty smart move on your part.

To be fully transparent with you, I am personally not a member of MyMoneyIndustry so I can assure you that I will not attempt to sell you it unless of course it’s worth investing in.

What I will aim to do is provide you with an unbiased 3rd party look at MyMoneyIndustry that will hopefully help you to make the best decision you can in the end.


PRODUCT NAME: MyMoneyIndustry

OWNER/S: not disclosed

TYPE OF PRODUCT: advertising MLM

PRICE: it’s free but $22 to minimum to participate in the compensation plan

SUMMARY: Going off of its lack of details on who the owners are and its heavy reliance on recruitment, I personally would say that MyMoneyIndustry is a pyramid scheme as well as a scam.

The company follows a basic ponzi cycler like structure where without recruitment you won’t make much money and the advertising credits are pretty useless themselves too considering how most people who join won’t even bother with that side of things, mostly because its reach is super small after all.

That’s why I really don’t think MyMoneyIndustry is a worthwhile business opportunity to pursue because once the recruitment side of things dies down and the business collapses, the undisclosed owners are the ones who will benefit most and will inevitably run away with your money.

FINAL RATING: 1/5

RECOMMENDED: No!!


WHAT IS MYMONEYINDUSTRY?

MyMoneyIndustry logo

MyMoneyIndustry appears to be matrix cycler MLM that seems to focus on the advertising side of things where affiliates are said to be able to purchase different forms of ads, pay to click ads and so on however, besides this little on the service offers there isn’t much information about who the owners of the company are and if it’ll even work as it should.

Besides the age of the domain, which shows that it was privately registered on January 9th, 2020 by a Malaysian registrar, there isn’t much other information on regarding who MyMoneyIndustry’s is run by which is a characteristic that I’ve found to more often than a not suggest a company is a little shady.

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MYMONEYINDUSTRY PRODUCTS

MyMoneyIndustry doesn’t seem to offer any kind of tangible products, all you can really do is buy into their advertising platform or promote the membership to others.

This is actually a very big indicator that a system or MLM is a scam/ponzi scheme and it’s also a factor that the FTC take into consideration before labeling any MLM a pyramid scheme.

So of course the lack of any retailable products being offered by MyMoneyIndustry is a huge red flag.


HOW DO YOU MAKE MONEY WITH MYMONEYINDUSTRY?

As is the case with pretty much all MLM businesses there are 2 ways to make money with them, MyMoneyIndustry being no exception.

1. The first method is by directly selling the advertising to other individuals and in return make a commission for them.

2. You make money through your recruits and downline, by getting residual income by following and meeting certain criteria as well as make money through bonuses and incentives.


HOW TO GET STARTED

If you want to join MyMoneyIndustry it will be free to do so however, if you also want to earn money through its compensation plan, you’d need to invest a minimum of $22.

Once one cycle of the matrix is completed, in order to continue earning via the matrix you will need to invest more money so the costs will inevitably be more than the minimum 22 bucks.

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COMPENSATION STRUCTURE

The main way that MyMoneyIndustry affiliates will be able to earn with the compensation plan is through a 3×2 matrix cycle. What this means is that each affiliate will be placed at the top of the cycle and be eligible to recruit three affiliates personally. These 3 affiliates will also be able to do the same with the cycle capping at the second level.

This means that in total an affiliate will need to fill in 12 positions to complete a cycle.

By completing a cycle, commissions will be paid out in the following manner :

  • N1 (positions cost $22) – $40 cycle commission and cycles into N2
  • N2 – $128 cycle commission and cycles into N3
  • N3 – $540 cycle commission and cycles into N4
  • N4 – $2560 cycle commission and cycles into N5
  • N5 – $74,580 cycle commission

Referral Commissions

These are commissions that affiliates can earn whenever a recruited affiliate purchases a cycler position or cycles into a higher tier :

  • N1 cycler position purchase = $7 referral commission
  • N2 cycle = $32 referral commission
  • N3 cycle = $160 referral commission
  • N4 cycle = $840 referral commission
  • N5 cycle = $4520 referral commission

Advertising Commissions

MyMoneyIndustry allows its affiliates to purchase advertising credits which can then be used to advertise banner ads or PPC ads to other members.

An affiliate can also earn a 20% commission everytime one of their recruited affiliates purchases some ad credits.


THE NOT SO GOOD THINGS

Recruiting Is Essential For Success

The matrix and cycler nature of MyMoneyIndustry shows that the ads for the most part will play an insignificant role when compared to moving up in tiers to earn more commission or having your recruits do the same, allowing you to earn way more money, theoretically of course.

However, the biggest problem with joining MyMoneyIndustry is that it genuinely displays way too many red flags to even consider wasting your efforts on following the recruitment side of things.

I mean think about it, by investing $22 you could potentially make $75k, that’s just a ridiculous amount and no legit business could get someone to such a level for such a small starting cost.

In short, the best way to find success with MyMoneyIndustry will more than likely be through recruitment however, that path will only work for those who decide to scam others early on because for anyone who decides to join later, there’s a very good chance that your time and monetary returns won’t amount to anything worthwhile

No Tangible Or Retailable Products

The only thing you can sell as a MyMoneyIndustry affiliate is their advertising credits or the cycler position/membership. Both of these don’t really count as retailable by the FTC so, it’s a pretty huge red flag here and another pretty solid reason to skip out on this matrix scheme

No Background Information On The Owners

The owners of this opportunity also don’t seem to show their face. This is a characteristic that I’ve found to be very common amongst schemes that aren’t all that trustworthy therefore, the lack of a face here is a red flag too.


THE GOOD THINGS

I really don’t think that MyMoneyIndustry has anything that stands out as being good therefore it’s simply an entity that you should skip out on.

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IS MYMONEYINDUSTRY A PYRAMID SCHEME/SCAM?

Going off of its lack of details on who the owners are and its heavy reliance on recruitment, I personally would say that MyMoneyIndustry is a pyramid scheme as well as a scam.

The company follows a basic ponzi cycler like structure where without recruitment you won’t make much money and the advertising credits are pretty useless themselves too considering how most people who join won’t even bother with that side of things, mostly because its reach is super small afterall.

That’s why I really don’t think MyMoneyIndustry is a worthwhile business opportunity to pursue because once the recruitment side of things dies down and the business collapses, the undisclosed owners are the ones who will benefit most and will inevitably run away with your money.


MY PERSONAL RECOMMENDATION

I personally will always recommend against using a MLM business model to make money, not because you can’t make money through it (you totally can) but, the system has always seemed shady to myself and is kinda synonymous with the likes of a pyramid scheme or scams (MOBE and Digital altitude).

Instead I prefer working with something created through ones own means and is ultimately dependent on yourself and your work ethic alone.

This method I’m talking about is affiliate marketing. 

The reasons as to why I recommend it over MLM based structures are because

– there is no need to recruit constantly

– it is a legitimate method that has been working consistently and continues to grow as more businesses want individuals to promote products

– and because it is free to start up, no unnecessarily large start up funds needed.

The service I recommend is Wealthy Affiliate. It’s free to sign up to and will get you set up and ready to start your affiliate marketing journey within minutes, as it did for me when I begun my journey.

If you have any questions that you would like to ask me regarding MyMoneyIndustry, feel free to do so in the comments section below and I will get back to you as soon as I can. If you have your own thoughts about MyMoneyIndustry and would like to talk about it, again feel free to do so in the comments below!

Thanks

Amhil

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