Looking for a Piggy Bank Review? You’re in the right place. Today we are looking at Piggy Bank and we are going to share our full review. If you’re wondering whether it’s a scam or a legit company keep reading as we will reveal everything. Also we are not an affiliates for this company so you can expect and honest review and not just another sales pitch like other reviews do!
Piggy Bank Review
Piggy Bank does not provide any information on their website about who owns or runs the business.
piggy-bank.io, the Piggy Bank website domain was privately registered on June 2nd, 2017.
In spite of this, Piggy Bank claims its history dates back to the year 2000.
As per Alexa traffic, Piggy Bank in its current incarnation launched a few weeks ago in early January.
They provide a UK incorporation corresponding to “Piggy B. Limited” on the website of Piggy Bank.
Piggy B. Limited was incorporated via a residential address in London on June 6th, a few days after the Piggy Bank website domain was registered.
The sole Director of the company is listed as Bruce Whatley and presumed not to exist.
UK incorporation is cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.
If an MLM company does not reveal who is running or owns it, think twice before joining and/or investing any money.
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Products of Piggy Bank
Piggy Bank does not offer any retailable products or services. The affiliates are only able to market Piggy Bank affiliate membership itself.
Piggy Bank Compensation Plan
The affiliates of Piggy Bank invest bitcoin on the promise of an advertised “guaranteed profit”.
- invest 0.001 to 4.999 BTC to get a 3.12% dailyROI
- invest 5 to 7.99 BTC to get a 3.36% daily ROI
- invest 8 to 12.99 BTC to get a 4.32% daily ROI
- invest 13 to 100 BTC to get a 5.28% daily ROI
Note that Piggy Bank investments do not expire. A 7% fee is charged on affiliate withdrawals.
Referral commissions are given out on funds invested by downline affiliates, paid out down 2 levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) : 5%
- level 2 : 2%
If an affiliate of Piggy Bank qualifies as a “Representative”, referral fees are increased to 7% on level 1 and 3% on level 2.
Piggy Bank does not provide Representative qualification criteria on their website.
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Piggy Bank Membership
The affiliate membership is free. However, free affiliates can only earn referral commissions.
To fully participate in the Piggy Bank MLM opportunity requires a minimum 0.001 BTC investment.
Summing Up
They claims they produce external ROI revenue through cryptocurrency mining.
There is no proof of Piggy Bank engaging in cryptocurrency mining or using external revenue pay affiliates a daily ROI.
New affiliate investment is the only verifiable source of revenue entering Piggy Bank.
The use of newly invested funds to pay existing affiliates a daily ROI makes Piggy Bank a Ponzi scheme.
Like all Ponzi schemes, once affiliate recruitment slumps down so too will new investment.
This will starve Piggy Bank of ROI revenue, eventually resulting in a collapse. To see a proper mining company that we did we did a review on here.
The math behind Ponzi schemes guarantees that when they collapse, most of the investors lose money.
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