How to get your payout from Loom Money Nigeria – Have you heard about Loom Money Nigeria? its the latest trending baby in town here in Nigeria. How does Loom Money Nigeria work? What is the official Loom Money website? Here is everything you need to know. Find out how to cash out and receive your pay when you are the next in line below.
The main essence here is to get in and cashout once you find your self at the middle of the wheel. Once you see this then know its your turn to cash out but how do you do this? You’ll get the answer below as you continue to read.
The ‘Loom’ sits in a circle and every time a new person is recruited, others are pushed closer to the centre of the circle where they’re promised a payout.
How It Works
The scheme which was first reported in the UK, then by an Australian media, ABC News (Australian Broadcasting Corporation) as a scam after it had gone viral in Australia, commenced in Nigeria recently.
The first step of the process is being invited to join a WhatsApp group chat, usually by a friend or relative. Then you are asked to ‘invest’ N1,000, N2,000 or N13,000 with a promise that you will make eight times the amount back once you recruit new entrants.
After you have paid in the money, you are asked to invite at least one person to join the system.
There are four levels in Loom Nigeria – Purple, Blue, Orange and Red.
Each time eight people join the loom, the person in the centre (Red) will get the target amount and leave the group.
The loom will then split into two groups. The top half and the bottom half become the new looms and everyone moves into the next level (Purple Level – into Blue Level – Into Orange Level) and the cycle begins again.
The more people you manage to add to the circle, the quicker the movement of it, and thus, the easier it will be for you to make your chunk of ‘easy money’.
The basics are that you get eight times the amount you “invest.” If you invest N1,000, you get N8,000; if you invest N2,000, you get N16,000; and if you invest N13,000 you will get N104,000
How to cash out or get your payout on loom money Nigeria
The interesting thing here is that if your group is fast you get quick payout within 48 hrs. So when you Join the loom circle, your name will be place on a wheel and once you entrants join, you are moved closer to the centre of the wheel.
When you find your self at the centre, then know its payout time for you. What you have to do is simply drop your account number/bank details on the whatsapp group and within an hour, you will be paid thedounle of your initial investment by members of the group.
If you like you can reinvest again..