CryptoBitX Review – Legit Business or Another Scam? Find Out…
Welcome to my CryptoBitX Review!
With so many new MLM companies starting up almost daily, it can be hard to determine which ones are legit and which ones aren’t.
Is this company going to last in the long run? Or collapse in a month?
The best thing you can do to ensure that your investment is in good hands is to research the company and others like it.
My review will give you all the information you need on the company, the products and the compensation plan.
So keep reading to learn everything you need to know about CryptoBitX!
CryptoBitX Review – The Company
Well, first things first, I couldn’t find any real information on the company website about who owns or operates CryptoBitX.
I did find an “about us” section on the CryptoBitX website, but as of today, it is blank.
I did discover that the CryptoBitX website domain was registered as “cryptobitx.com” on the 20th of December, 2016.
An individual by the name of Faisal Kamal of Dubai Petroleum, based out of Dubai, is credited as the owner.
Faisal Kamal first came on the MLM scene as the admin of FastBTC.
FastBTC was a business that had affiliates donating bitcoin to each other through a 2×3 matrix.
Currently the FastBTC website is non-responsive, which likely means the company is no longer running and is also most likely the reason Kamal launched CryptoBitX.
CryptoBitX Reviews – The Products
CryptoBitX does not offer any retail products or services.
Affiliates who join CryptoBitX can only market and sell the affiliate membership.
The CryptoBitX Compensation Plan
CryptoBitX affiliates who want to participate in the income opportunity are required to donate bitcoin to each other through a 2×7 matrix.
A CryptoBitX 2×7 matrix puts an affiliate at the top of a matrix that has 2 positions right under them.
These first 2 positions make up the first level of the matrix and the second level is made by adding another 2 positions under each of the first two.
Additional levels of the matrix are made the same way, on up to 7 levels, with each new matrix level holding twice as many positions as the level above it.
Every CryptoBitX matrix level works as an independent cash donating tier.
When an affiliate starts out, they must donate 0.001 BTC to the affiliate who sponsored them.
Once this payment is made, the affiliate then qualifies to get their own 0.001 BTC donation from 2 subsequently sponsored affiliates who are placed in the first level of their matrix.
Each of the other 6 matrix levels work the same way, with the only difference being the amount that is donated and the number of donations received:
- Level 1 – Donate 0.001 BTC to the affiliate who recruited you and receive 0.001 BTC from two subsequently recruited affiliates
- Level 2 – Donate 0.0015 BTC and receive 0.0015 BTC from four affiliates
- Level 3 – Donate 0.004 BTC and receive 0.004 BTC from eight affiliates
- Level 4 – Donate 0.02 BTC and receive 0.02 BTC from sixteen affiliates
- Level 5 – Donate 0.2 BTC and receive 0.2 BTC from thirty-two affiliates
- Level 6 – Donate 1 BTC and receive 1 BTC from sixty-four affiliates
- Level 7 – Donate 8 BTC and receive 8 BTC from one hundred and twenty-eight affiliates
Cost To Join CryptoBitX
The cost to join CryptoBitX as an affiliate is a 0.0015 BTC donation to the affiliate who sponsored you.
To fully participate in the CryptoBitX compensation plan, it will cost 9.2265 BTC.
Verdict on CryptoBitX
Yet another cash donating company this week…
And again, since they don’t have any retail products or services to sell to actual customers, affiliates who join can only recruit others so they can get their own donations…
That’s literally all there is to it…
And we know that when there isn’t anything retail going, the business is usually short term.
So if you do decide to join, do so at your own risk!
But don’t be surprised if the cash flow runs dry…
I hope you enjoyed my CryptoBitX Review and if you have any questions, leave them in the comments below…
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