There is no information on the AfricanBits Club website indicating who owns or runs the business.

The AfricanBits Club website domain (“africanbits.club”) was privately registered on February 8th, 2017.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

The AfricanBits Club Product Line

AfricanBits Club has no retailable products or services, with affiliates only able to market AfricanBits Club affiliate membership itself.

The AfricanBits Club Compensation Plan

The AfricanBits Club compensation plan sees affiliates gift bitcoin to each other via a 2×6 matrix.

A 2×6 matrix places an affiliate at the top of a matrix, with two positions directly under them:

These two positions form the first level of the matrix. The second level of the matrix is generated by splitting each of these first two positions into another two positions each (4 positions).

Levels three to six of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.

Each level of an AfricanBits Club matrix operates as an independent cash gifting tier.

An AfricanBits Club affiliate begins by signing up and gifting 0.005 BTC to the affiliate who recruited them.

This payment in turn qualifies the affiliate to receive 0.005 BTC from two affiliates recruited into the first level of their matrix.

Payments across the other five matrix levels operate in the same manner, the only difference being an increase in the amounts gifted:

  • level 1 – gift 0.005 BTC to the affiliate who recruited you and receive 0.005 BTC from two subsequently recruited affiliates
  • level 2 – gift 0.0075 BTC and receive 0.0075 BTC from four affiliates
  • level 3 – gift 0.025 BTC and receive 0.025 BTC from eight affiliates
  • level 4 – gift 0.05 BTC and receive 0.05 BTC from sixteen affiliates
  • level 5 – gift 0.1 BTC and receive 0.1 BTC from thirty-two affiliates
  • level 6 – gift 0.5 BTC and receive 0.5 BTC from sixty-four affiliates

Joining AfricanBits Club

AfricanBits Club affiliate membership is tied to a 0.005 BTC gifting payment.

Conclusion

Another day, another bitcoin gifting scheme targeting Africans.

Africa is currently a hotspot of cryptocurrency fraud, with there being seemingly no end to the scams being launched that target the continent.

Economic slowdowns and a general lack of education make Africa ripe for cryptocurrency-based fraud.

AfricanBits Club is yet another entry into the niche, through which affiliates gift bitcoin to each other.

Through pass-ups at each matrix level, the anonymous scammers running AfricanBits Club stand to receive the majority of funds gifted.

This is achieved through one or more pre-loaded positions, with affiliates who join early receive what’s left.

Once affiliate recruitment slows down, the majority of AfricanBits Club affiliates will wind up taking a loss.