Paynext is an e-commerce payment platform built around the PET cryptocurrency. Find out everything you need to know about Paynext today in our review.
What is Paynext PET?
Paynext, found online at Paynext.io, is a cryptocurrency and payment platform. The PET cryptocurrency is an ERC20 token built on the Ethereum blockchain. The goal of Paynext is to pay e-commerce transactions on Amazon, eBay, Alibaba, and other e-commerce giants.
An e-commerce platform called Payshoping has already announced plans to integrate Paynext. Payshoping was created by the team at Paynext.
When you pay for goods and services online using PET, you’re eligible for great deals and discounts.
Paynext will also launch a lending platform that will pay users 54% ROI per month in exchange for locking money with the platform. Paynext is advertising its lending program in the form of “investment packages”.
Obviously, when a crypto project starts talking about a “lending platform” and investments that pay 50% returns per month and higher, it’s important to be skeptical. Paynext has a number of red flags telling us it’s a scam – including a pyramid scheme-style lending program that extends to an infinite number of levels.
Let’s take a closer look at how Paynext works.
How Does Paynext Work?
Paynext aims to create a payment platform that offers the following benefits:
- Increase revenue for sellers and reduce costs for buyers
- Minimize operating system costs and costs per transaction
- Enjoy fast transaction processing speeds
- Safer transactions
Obviously, these goals are common across all payment platforms. All payment platforms want to offer similar benefits, including fast and secure processing.
To accomplish these goals, Paynext has created a cryptocurrency called PET, which is an ERC20 token on the Ethereum blockchain. Paynext claims it costs “0” to transact PET tokens.
Beyond simple payment processing, Paynext also wants to offer e-commerce features.
PET will connect with card issuers like VISA, MasterCard, and other local cards. This will allow users to avoid paying fees for services around the world. It will also allow users to access more ATMs.
Paynext’s e-commerce platform will facilitate P2P transactions between users and businesses. Users will be able to post information about their products and services onto the Paynext website, then interact directly with buyers.
Features of Paynext PET
Paynext aims to offer the following features:
Paynext will launch a website called Payshoping that will allow users to purchase goods and services using PET tokens. Merchants can upload product descriptions to Payshoping, then interact directly with buyers.
Discounts and Exclusive Offers:
Enjoy 20 to 50% discounts on the value of goods and services.
No Foreign Exchange Fees:
All transactions are performed in PET tokens, which means users and merchants can make transactions worldwide without paying high foreign exchange fees.
Low Total Supply:
Paynext has only released 12 million PET as an initial supply.
PET tokens are ERC20 tokens designed with low transaction costs in mind.
Paynext aims to provide full transparency in its business.
Multilevel Referral System:
Paynext has an affiliate program that rewards people who refer others to the platform. That referral system pays down an infinite number of levels (from 9% on the first level down to 0.01% on the 11th and lower levels.
Yes, Paynext will pay you to an infinite number of levels. The affiliate system seems to only be available for the lending program and investment packages. So if you refer people to buy into Paynext’s investment packages, then you’ll receive a cut of the money they input.
The Paynext ICO
The PET ICO took place from December 15, 2017 to January 15, 2018. The price of PET tokens ranged from $0.50 to $1.25. 12 million PET tokens are being released during the ICO. However, the company plans to raise the total supply to 27 million in the future.
Paynext PET Investment Packages
One of the key goals of Paynext is to lure customers into different “investing packages”. The company advertises investment packages that pay anywhere from 41% to 100% ROI per month. You just have to lock your money with the company to enjoy earning enormous returns:
- $100 to $1000: 41% ROI per month, money locked for 295 days
- $1010 to $5000: 41% ROI per month + 0.1% ROI per day, money locked for 235 days
- $5010 to $10,000: 41% ROI per month + 0.25% ROI per day, money locked for 175 days
- $10,010 to $100,000: 41% ROI per month + 0.35% ROI per day, money locked for 110 days
- Above $100,000: 41% ROI per month + 0.45% ROI per day, money locked for 89 days
Who’s Behind Paynext?
Paynext doesn’t disclose team data of any type. The company has no team information posted online, and there’s just one way to contact the company: by email at [email protected]
Paynext claims to be seeking deals with eBay, Amazon, Alibaba, VISA, and MasterCard. However, it doesn’t appear that Paynext has any partnerships with major third parties at this time.
Typically, it’s not a good thing when someone is selling you a “profitable” investment package online but refuses to disclose their identity.
Paynext PET ICO Conclusion
Paynext is an unusual project with a number of red flags suggesting it’s a scam. The main goal of the company appears to be selling “investment packages” to users.
Those investment packages pay returns of 41% per month and higher. It’s unclear how Paynext generates such incredible returns – especially since a significant amount of each deposit goes towards the Paynext affiliate system. Approximately 18% of your deposit goes towards an infinite level referral system (9% on the first level, 3% on the second level, and descending from there).
Paynext vaguely mentions some type of payment platform for its PET tokens. they also mention an e-commerce website called “Payshoping.com”. However, none of these products have been launched. Again, the main goal of Paynext appears to be convincing users to buy investment packages.
Ultimately, ever since the collapse of notorious scams like Bitconnect, it’s important to be skeptical of companies offering huge returns, multi-level referral systems, and a total lack of transparency. To learn more about Paynext, visit online today at Paynext.io.