CHYMALL, a popular e-commerce platform, has gained significant attention in Nigeria and other parts of the world.
It offers a unique business model that allows users to earn by participating in the “New Retail” concept.
However, it’s important to check if CHYMALL is registered in Nigeria in light of rising worries about scams and unregistered businesses.
In this comprehensive review and FAQ, we shall delve deep into CHYMALL, its registration status in Nigeria, and other crucial aspects that will help you make an informed decision.
What is CHYMALL?
Sairui Mall, or CHYMALL, is an international e-commerce platform that serves many countries around the world.
It is a branch of the Chinese conglomerate Sairui Group, founded in 2008.
Users can make money by buying and selling products on the platform, which is a hybrid of the traditional e-commerce model and a multi-level marketing (MLM) structure.
To unite the offline and online shopping experiences of its customers and distribute the resulting profits to its members, CHYMALL has proposed the “New Retail” concept.
Users can earn money through trading and referring others to the platform.
Although the business model may seem appealing, it is crucial to verify the legitimacy and registration of the company before investing your time and money.
The business plan might seem appealing, but before you commit any time or money, make sure the company is legitimate and registered.
Is CHYMALL Registered in Nigeria?
As of the time of writing this article, there is no concrete evidence that CHYMALL is registered with the Corporate Affairs Commission (CAC) in Nigeria.
The Corporate Affairs Commission (CAC) is the Nigerian government agency in charge of company registration and regulation.
In order to legally conduct business in the country, organisations must be registered with the CAC.
Dealing with an unregistered business should be approached with caution due to the possibility of incurring losses.
CHYMALL’s lack of proper registration in Nigeria and other African countries raises questions about the legitimacy and compliance of the platform with the laws of those countries.
CHYMALL Review: Pros and Cons
Weighing the benefits and drawbacks of a platform is essential before making any financial commitment.
Some benefits and drawbacks of CHYMALL are as follows:
Pros:
- Unique business model: Remember that CHYMALL offers a “New Retail” concept that combines traditional e-commerce with MLM, allowing users to earn by participating in the trading system and referring new members.
- Global presence: CHYMALL has a physical presence in various countries, including Nigeria, making it more accessible to users worldwide.
- Wide range of products: The platform offers a diverse range of products, including electronics, fashion, health, and beauty products, giving users more options to choose from.
Cons:
- Lack of registration in Nigeria: As mentioned earlier, there is no concrete evidence that CHYMALL is registered with the CAC in Nigeria. This raises concerns about the platform’s legitimacy and compliance with the country’s regulations.
- Complex compensation plan: CHYMALL’s MLM compensation plan can be confusing for new users, making it difficult to understand how earnings are calculated and distributed.
- High initial investment: To participate in the trading system, users are required to invest a significant amount of money, which may not be affordable for everyone.
Is CHYMALL Still Paying?
There is no definitive answer to this question, as user experiences may vary.
While some users have reported prompt payment, others have complained of delays or outright non-payment.
It is best to tread cautiously and carefully evaluate your risk tolerance before investing in any platform, including CHYMALL.
Is CHYMALL Legit?
CHYMALL’s registration in Nigeria is questionable, as has been mentioned above.
Because of this, questions have been raised about the platform’s legality and ability to operate within Nigerian law.
Some users may be able to make money through the platform, but investors should keep in mind the platform’s lack of openness and improper registration.
Before making a choice, it’s important to do your homework and collect all the data you can.
When is CHYMALL Coming Back?
CHYMALL has persisted in its Nigerian and international operations despite questions about its legality and registration.
Users are encouraged to subscribe to official CHYMALL channels in order to stay abreast of any changes to the status or news update of the platform.
The company and its platform are shrouded in mystery, so investors and users must proceed with caution.
FAQ
How does CHYMALL work?
Based on the idea of “New Retail,” CHYMALL lets its users make money through trading and referring others to the platform.
In this system, customers can buy goods at wholesale prices and resell them at retail for a profit.
In addition, as members advance in the MLM compensation structure, they are eligible to receive referral commissions and other bonuses.
Is CHYMALL a scam?
While there is no concrete evidence that CHYMALL is a scam, the lack of proper registration in Nigeria raises concerns about the platform’s legitimacy and compliance with the country’s regulations.
It is essential to exercise caution and conduct thorough research before investing in any platform.
How do I join CHYMALL?
You can join CHYMALL by signing up on their website and purchasing one of their membership packages for a set monthly fee.
As soon as your registration is complete, you’ll be able to start trading and referring others to the platform.
Conclusion
The lack of proper registration in Nigeria raises concerns about the platform’s legitimacy and compliance with the country’s regulations, despite CHYMALL’s unique business model and global presence.
Before putting your money into any platform, it’s important to proceed with caution and do your homework.
We hope you’ve found the review and FAQ helpful in making a well-informed choice about CHYMALL.
