Welcome to my ReferABit Review!
So, you are looking for an online business to join, but with so many to choose from, how do you know you are picking the right one?
One way to help you with your decision is proper research.
Learn as much as you can about the company and what they have to offer.
My review will give you all the info you need about the company background, the products and the compensation plan.
So keep reading to learn more about ReferABit!
ReferABit Review – The Company
ReferABit does not provide any information on their website about who owns or operates the company.
The ReferABit website domain was registered privately as “referabit.com” on the 20th of May, 2017.
Written content on the company website is taken straight from Bitcoin Banking, a website which shares the same design template as ReferABit.
ReferABit Reviews – The Products
ReferABit does not have any retail products or services.
Affiliates who sign up with ReferABit can only market the affiliate membership.
The ReferABit Compensation Plan
Like all mlm companies, you get paid usually when you sell a product or service to customers or other affiliates…
But it’s a little different here…
ReferABit affiliates who participate in the compensation plan must invest $50 or more for a daily ROI for 100 days.
The amount of ROI that is paid out depends on how much an affiliate invests:
- Starter – Invest $50 to $999 and receive a 2% daily ROI for 100 days
- Professional – Invest $1000 to $1999 and receive a 2.25% ROI for 100 days
- Expert – Invest $2000 or more and receive a 2.5% daily ROI for 100 days
Residual referral commissions are earn, paid and tracked through binary and unilevel compensation structures.
Residual Referral Commissions (binary)
A binary compensation structure puts an affiliate at the top of a binary team that splits into a left and right side.
Level 1 of the binary team holds 2 positions and level 2 is created by adding another 2 positions under each of the first two, for a total of 4 positions.
Additional binary team levels are made as needed, with every new level holding twice as many positions as the level above it.
Binary team positions are filled by direct and indirect sponsorship of affiliates.
Currently, there is no limit as to how deep a binary team can grow.
Affiliates are paid residual referral commissions as a percentage of what is invested on the weaker side of their binary team.
The company counts up the volume on the weaker binary side at the end of every day and pay affiliates 10% of this volume.
Residual Referral Commissions (unilevel)
A unilevel compensation structure puts an affiliate at the top of a unilevel team that places each personally sponsored affiliate right under them on level 1.
When a level 1 affiliate brings in new affiliates, they are put on the second level of the original affiliate’s unilevel team.
When a level 2 affiliate brings in new affiliates, they are put on the third level, and this continues on down as many levels as are needed.
Payable unilevel levels are capped by ReferABit at 5 and commissions are paid out as a percentage of investments across these 5 levels:
- Level 1 (personally sponsored affiliates) – 5%
- Level 2 – 4%
- Level 3 – 3%
- Level 4 – 2%
- Level 5 – 1%
Cost To Join ReferABit
The cost to join ReferABit as an affiliate is free, but affiliates must invest at least $50 to take part in the company compensation plan.
Verdict on ReferABit
The first problem I see here is that the company is claiming a consistent ROI based on bitcoin trading…
With trading, profits are never consistent or even guaranteed…
So, there’s the first red flag…
The second is the fact that there is no proof that trading is even happening…
When a company isn’t completely transparent with how they are making profits, chances are it isn’t what they are saying…
And with no real products or services, this company seemingly relies heavily on recruiting new affiliates to keep funds coming in…
This business model isn’t a long term solution and tends to only benefit those who start the company…
So, if you are considering joining this company, please keep this in mind…
I hope you enjoyed my ReferABit review and if you have any questions, please leave them in the comments below…
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