BitM8 Review – Legit Business or Big Scam? Find Out Here…
Welcome to my BitM8 Review
It seems as if there are 1000s of new MLM companies exploding onto the MLM scene daily and they all seem loaded with opportunity, just for you…
Now deciding which company to go with can tough decision…
It’s can be hard to know how to choose between the legit companies and the scams out there.
But I’m here to help with your initial decision of whether you should sign with or walk away from a new company…
So how do you decide if you should sign up or even start-up a business for yourself?
The best thing you can do before jumping into a new company is thoroughly research it.
Well, you’ve ended up at the right place for that!
In today’s review, I will talk about the company’s history, their products and their compensation plan.
Let’s get started!
BitM8 Review – The Company
Well to start things off, the company self proclaims that they are a “Netherlands-based company involved in cryptocurrency trading and mining”.
The company does not give out any info for the owners or those operating the business, however the company website is hosted in the Netherlands.
So, I dug around a bit and I was able to find that the BitM8 website domain was registered privately as “bitm8.io” on the 8th of March in 2018.
BitM8 Reviews – The Products
BitM8 doesn’t have any products or services for affiliates to purchase or sell.
But anyone wanting to sign up as an affiliate with BitM8 can market the company affiliate membership.
Legit company with products, check out my The Wealth Network Review.
BitM8 Compensation Plan
Affiliates looking to take part in the company compensation plan are required to sign up and invest into the company.
Company affiliates are to invest 20,000 BTC or more with the agreement of a promoted 190% rate of ROI on a 30-day basis:
The referral commissions earned by affiliates on invested funds are paid down to level 3 of sponsorship (unilevel):
- Level 1 (personally sponsored affiliates) – 20%
- Levels 2 and 3 – 10%
Cost To Join BitM8
The cost to join BitM8 as an affiliate is free, but the free membership affiliates can only earn commissions on referrals.
If affiliates would like to fully participate in the company and income opportunity, they must invest 0.5 to 20,000 BTC at a minimum.
Verdict of BitM8
You’ve made it to the end of my review, and this is the point where I like to offer my opinion of the company based on my research, and in my humble opinion this company is not 100% legit…
The company says they are able to achieve revenue externally for ROI through cryptocurrency trading and mining taking place, well that’s good and all but we need proof otherwise it’s not more than hearsay…
And the business model this company is presenting to us doesn’t really follow any logic, so at first glance it comes across as a Ponzi scam.
If the company could really get a 190% rate of ROI for your returns per 30 days, then why are they asking random people on the internet for monetary support?
What the company presents to us is that those who are signing up are the ones who are bringing the money in, and that is the sole source of revenue coming into the company.
When a company uses newly invested money to pay off prior members their owed ROI at 190% in 30 days, this is a problem and this technically how a Ponzi scam operates.
So, when the company experiences a slow down in new sponsorship, this will also slow down the rate of money entering the company, and this will hinder the company’s ability to follow through on the promise of their 190% ROI in 30 days payout.
Eventually when the whole scam is slowed down enough, the company will start to bleed money, and this will cause the whole “business opportunity” to collapse.
My advice? Be careful with this company as you are likely to lose your investment…
I hope you enjoyed my BitM8 review and if you have any questions, please leave them in the comments below…
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