BitQwik Review – Legit Business Opportunity or Just Another Scam?
Welcome to my BitQwik Review!
There has been some recent online buzz about this company, so I decided to check it out and see what it’s all about.
With so many new MLM companies starting up on a daily basis, it is vital to ensure you thoroughly research any new company you are thinking of joining.
Research is a great way to ensure you are putting your money into the right company.
This blog will provide you with all the information you need to know about the company, their products, and the compensation plan they offer.
Let’s get started, shall we?
BitQwik Review – The Company
There is little to no information about this company on their website in regards to who operates or has ownership of the business.
A little research revealed that the BitQwik website domain “bitqwik.net” was registered privately on the 23rd of June, 2017.
More research revealed the company’s marketing video featured on the company’s website is hosted on a YouTube channel with the name “opitimusX”
There is a variation of this channel that is used by Sherm Mason, which is called OptimusX.
Sherm Mason first came on the MLM scene as the admin of Magnetic Builder.
Magnetic Builder was a $29.95 sponsorship opportunity that started up in 2011.
Mason started at least 5 business opportunities in 2015:
- Paradise Payments (February 2015) – a $2 to $1000 cash donating opportunity
- Magnetic Gratitude (April 2015) – a $580 matrix-based business opportunity
- Summer Fun Matrix (July 2015) – a $22 three-tier business opportunity and
- 3×9 Millionaire Machine (September 2015) – a $3 in, $435 million dollars out business opportunity
- Instant Pay Christmas (November 2015) – a $5 to $800 cash donating opportunity
BitQwik Reviews – The Products
BitQwik does not offer any retail products or services.
The affiliates are only able to market the company’s affiliate membership.
The BitQwik Compensation Plan
Company affiliates who are part of the compensation plan donate bitcoin to each other through a 4×6 matrix.
A 4×6 matrix puts an affiliate at the very top of a matrix, having 4 positions directly beneath them.
These 4 positions make the 1st level of the matrix and the second level is made by dividing these 4 positions into a further 4 positions each (16 positions).
Levels 3 to 6 of the matrix are made in a similar fashion, having every new level holding 4 times as many positions as the level before it.
Once an affiliate joins and donates $10 in bitcoin to an existing affiliate, they are then qualified to get $10 from 4 subsequently sponsored affiliates.
Additional donations of $3 are needed to unlock the remaining 5 levels of the 4×6 matrix as follows:
- Level 1 – Donate $10 and get $10 from the 4 following sponsored affiliates
- Level 2 – Donate $3 and get $3 from 16 affiliates
- Level 3 – Donate another $3 and get $3 from 64 affiliates
- Level 4 – Donate another $3 and get $3 from 256 affiliates
- Level 5 – Donate another $3 and get $3 from 1024 affiliates
- Level 6 – Donate another $3 and get $3 from 4096 affiliates
Keep in mind that all payments within this company (paid and received) are done through bitcoin.
Cost To Join BitQwik
The cost to join BitQwik as an affiliate is a $10 bitcoin donation.
To fully participate in the company compensation plan, it will cost $25.
Verdict on BitQwik
Like so many “donation” companies before it, this one isn’t any different…
No real products or services to offer…
And the only way income streams in is by recruiting new affiliates who invest their money into the company…
New affiliates pump their money in and it’s used to pay off existing affiliates….
And the cycle continues…
The only people who benefit from these types of companies are those who are in the top positions…
And once hype dies down and recruitment slows…
Income will drop and affiliates will leave…
So, as I have said about so many of these types of companies…
If you are going to join, do it at your own risk!
I hope you enjoyed my BitQwik review and if you have any questions, please leave them in the comments below…
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