The quest for making fast and easy money in Nigeria seems to be the new deal as thousands of people search for countless ways on how to make that fresh dough while still carrying out their other numerous engagements.
With the need to get that sharp money without sweating, there came about different Ponzi schemes which enabled people to make thousands and millions even from the comfort of their homes.
These schemes include Ultimate Cycler, Turbo Cycler, MMM, Twinkas, I-Charity, Help-givers, to name a few.
What is Ultimate Cycler?
Ultimate Cycler is an online Ponzi scheme that became known to Nigeria in 2016. Ultimate Cycler was created following the crash of MMM at the time. Peter Wolfing, an American created this Ponzi Scheme,
How Does Ultimate Cycler Networking System Work?
Ultimate Cycler allows its members to receive help from one another within 14 days. Unlike MMM, where the members will get their cash and profits in one month, the initial investment of 12, 500 can bring 300% interest in 7 to 14 days.
So, N12, 500 can bring the sum N50, 000 in one or two weeks. Ultimate Cycler has six stages. After the first stage, the earnings will be doubled until the sixth stage. So in as little as six months, participants can receive N1.6 million
The summary of the Ultimate Cycler’s earnings include:
- Stage 1 – N50, 000
- Stage 2 – N100, 000
- Stage 3 – N200, 000
- Stage 4 – N400, 000
- Stage 5 – N800, 000
- Stage 6 – N1, 600,000
Members must bring in a new member who will pay the stipulated fee, which will be received.
HOW to Join Ultimate Cycler?
To join the platform, new members can register directly via the official website or through the participant’s referral link. You will have to fill your personal information, including:
- Contact Number
- Mobile Carrier
- Mobile number
- Preferred Username
- Preferred Password
Next, enter the captcha code in the box provided on the website. Next, agree to the terms and conditions and continue.
On the third page, you must provide the country of residence and address. After proper registration, you can quickly log in and get your pairings with other participants. You will pay the stipulated fee to the other participant within 48 hours after pairing, or that may disrupt the payment flow. Notifications must be made to the other person about the payments to avoid any unnecessary problems.
After you have made your payment, the system administrator will add four other registered individuals to you within the next 7 to 14 days.
Is Ultimate Cycler Still Active??
Well, the answer is no. Like many other Ponzi schemes, the Ponzi scheme cycled out of existence within months after creation. Participants were thrown in panic when it first went down on the 1st of December 2016.
The founder, Peter Wolfing, addressed the public about the development, stating that there were upgrades on the website. Within 24 hours after the crash, he revived the website.
But within a few days into the New Year, the website closed down into oblivion. Millions of Nigerians lost a lot of money at the time.
It remains inactive pending the day of resurrection if at all there would be any and maybe with the same name.
The question is; will people put in their money again in the scheme, if at all it returns?