Bitsolives Review – Legit Company or Just Another Scam? Find Out Here…
Welcome to my Bitsolives Review!
We all know that trying out new business opportunities can be a bit scary and nerve-wracking…
But do not worry! I’m here to help you wade through all the rip-off scams that litter the MLM world in order to find the gems to invest your money in.
After all, good decisions are made with good research and effort.
In this review, I will cover information regarding this company’s history, products, compensation plan, cost to join, and a final verdict with my opinion of Bitsolives.
So, let’s get started!
Bitsolives Review – The Company
I had to do some deep digging into the origins of Bitsolives to get the information for you guys, which seems to already be somewhat worrisome.
The website domain was registered as bitsolives.com on the 10th of March, listing Mohsin Jameel as the CEO of the company.
But it seems that Mohsin may have landed himself in some hot water…
According to the Tribune India, he has a long history of being involved in scams.
To sum it all up, Mohsin was the CEO of a company that was accused of duping investors of about 10,000 crores ($1.5 billion) in India, along with continually floating up to seven companies, including Crown Coin.
The Enforcement Directorate and Punjab Police became involved soon enough when it became apparent that not all the operations were being…well operated legally.
He has already been caught red-handed in fraudulent activities, specifically the Zuflo Ponzi Scheme, but maybe he just hasn’t learned his lesson yet.
He still can’t be located, remains a fugitive, and continues to be hunted down by Indian authorities.
Yikes, Mohsin. You really did mess up there.
Other than that, I wasn’t able to find any further information about the company itself…so let’s move on…
Bitsolives Reviews – The Products
Bitsolives doesn’t have any products or services for affiliates to purchase or sell.
But anyone wanting to sign up as an affiliate with Bitsolives can market the company affiliate membership.
Anyway, here is a video I did on the best ways to make money online.
The Bitsolives Compensation Plan
Bitsolives affiliates can invest from €200 to €10,000 with a return of ROI over the course of 20 months:
- Silver – Invest €200 EUR and receive a €320 EUR ROI
- Gold – Invest €1000 EUR and receive a €2000 EUR ROI
- Platinum – Invest €5000 EUR and receive a €12,000 EUR ROI
- Diamond – Invest €10,000 EUR and receive a €30,000 EUR ROI
We should note that all ROI/commissions payments are paid with bitcoin and buxcoin points at a 30/70 ratio.
Buxcoin, which are held by Bitsolives for 180 days, are returned to affiliates with a 25% point bonus through a 4:1 ratio.
It just means that for every $1 made, an affiliate will also make 4 buxcoins.
Bitsolives provides affiliates the chance to sponsor new affiliates with commissions being paid on the amount each new affiliate invests into the company as seen below:
- Silver affiliates receive a 6% recruitment commission
- Gold affiliates receive an 8% recruitment commission
- Platinum and Diamond affiliates receive a 10% recruitment commission
Bitsolives pay residual commissions through a binary compensation structure, where an affiliate is placed at the top and splits off into two sides (meaning they can sponsor up to two new affiliates in each subsequent level).
So for instance, the second level would have two positions that could branch off into four positions in the third level.
Affiliates are then paid based on the concentration of new investments generated on the weaker side of the binary.
How much of a percentage is paid out is determined again by how much a Bitsolives affiliate has invested:
- Silver affiliates are paid 6%, capped at €5000 EUR a week
- Gold affiliates are paid 8%, capped at €10,000 EUR a week
- Platinum affiliates are paid 10%, capped at €15,000 EUR a week
- Diamond affiliates are paid 12%, capped at €25,000 a week
There is also a Super Diamond rate that supposedly exists, but I couldn’t really find anything about it.
Like other crypto MLMs, Bitsolives provides a Matching Bonus through a unilevel compensation structure.
A unilevel compensation structure puts an affiliate at the top of a unilevel team that places every personally sponsored affiliate immediately under them on level 1.
When level 1 affiliates sponsor new affiliates, they are put on the 2nd level of the original affiliate’s unilevel team.
When level 2 affiliates sponsor new affiliates, they are put on the 3rd level, and this continues down as many levels as are allowed.
Bitsolives caps the unilevel system at seven levels.
The Matching Bonus is paid out on residual commissions as shown below:
- Silver affiliates earn a 10% match on level 1 (personally sponsored affiliates)
- Gold affiliates earn a 10% match on levels 1 to 3
- Platinum affiliates earn a 10% match on levels 1 to 3 and 5% on levels 4 and 5
- Diamond affiliates earn a 10% match on levels 1 to 3 and 5% on levels 4 to 7
Cost to Join Bitsolives
Bitsolives affiliate membership costs anywhere between €200-€10,000, like so:
- Silver – €200 EUR
- Gold – €1000 EUR
- Platinum – €5000 EUR
- Diamond – €10,000 EUR
The difference with each affiliate membership has to do with how much income can be earned through the compensation plan.
Verdict on Bitsolives
Bitsolives seems to prize itself as a marketing partner of Buxcoin, in the most “pain-free experience and fastest transaction” as possible.
I smell something fishier occurring over here.
Buxcoin may have just been set up by Mohsin Jameel himself, as it is a non-publicly traded alternative coin that has latched onto Bitsolives at the arm.
I couldn’t even find any external information about Buxcoin, except on Cashfinex with a very vague tagline.
Needless to say, I’d even go as far as to say that Cashfinex seems to be set up only for Buxcoin, all operating within the same playing field to trap affiliates in.
I mean, at the end of the day, all it really serves as is an ROI withdrawal platform to take money from those who have invested into them.
While the company does claim to generate ROI through crypto trading, it begs the question…
Where is the proof?!
For all we know, Bitsolives could just be taking new investments and just paying off existing investors, making it more like a Ponzi scheme.
And when you count in the sketchy past of the CEO, who has been tangled in scams as far back as 2010 with Capital Consultant, it just seems that he is trying to grasp onto new ways to scam people.
Sign up, invest, wait, take money.
And once the volume of affiliates investing dies down, Mohsin packs up and moves on.
For all we know, he could be controlling the value of Buxcoin on Cashfinex, keeping it as low as $0, which means that the investors could be making nothing in commissions.
So, maybe keep your money safe folks and don’t invest your time or effort into this long-winded scam.
That is why I rate it the following: [yasr_overall_rating]
I hope you enjoyed my Bitsolives review and if you have any questions feel free to ask below….
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