Beat Bitcoin Review: Invest bitcoin, earn a daily ROI for 5 years?
Beat Bitcoin provide no information on their website about who owns or runs the business.
Text on the “about us” page of the Beat Bitcoin website is boiler-plate and features on at least ten other websites.
Further research reveals most, if not all of the copy on the Beat Bitcoin website has been copy and pasted from third-party websites.
A corporate address in London, UK is provided on the Beat Bitcoin website, however this appears to be incomplete.
The Beat Bitcoin website domain (“beatbitcoin.com”) was privately registered on November 24th, 2016.
Alexa currently estimates that the two largest sources of traffic to the Beat Bitcoin website are Japan (77%) and South Korea (13%). This strongly suggests that whoever is running Beat Bitcoin is based out of one of these two countries.
India is also another possibility. The Beat Bitcoin website is hosted on a private server with two other MLM opportunities; Dream Vision 4u Trade and New Sunedge.
Both company websites were developed by MLM Vibes, who appear to own the private server the sites are hosted on.
Dream Vision 4u, New Sunedge and MLM Vibes are all based out of India.
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.
Beat Bitcoin Products
Beat Bitcoin has no retailable products or services, with affiliates only able to market Beat Bitcoin affiliate membership itself.
The Beat Bitcoin Compensation Plan
Beat Bitcoin affiliates invest $10 to $100,000 on the promise of a daily ROI for five years.
- 1% a day is paid out for the first year
- 1.5% a day is paid out for the second year
- 2% a day is paid out for the third year
- 2.5% a day is paid out for the fourth year and
- 3% a day is paid out for the fifth year
Note that in order to qualify for a daily ROI beyond the first year, every 365 days an amount equal or greater to the initial amount invested must be reinvested.
Residual commissions in Beat Bitcoin are paid out via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note that there is no limit to how deep a binary team can grow.
Residual commissions are paid out via matching invested funds on both sides of the binary. For each dollar invested and matched, a Beat Bitcoin affiliate is paid a 5% commission.
To qualify for residual binary commissions, a Beat Bitcoin affiliate must personally recruit at least two affiliates who invest.
Each time a binary team grows by ten levels (ten, twenty etc.), an affiliate must recruit two new affiliates who invest to unlock the next ten binary levels (capped at one hundred levels in total).
Beat Bitcoin affiliates are given the following rewards based on matched binary investment volume:
- VIP ($10,000 matched binary volume) = “golden ring”
- Bronze ($20,000 matched binary volume and two personally recruited VIP affiliates) = an iPhone
- Silver ($60,000 matched binary volume and three personally recruited Bronze affiliates) = $2000
- Gold ($200,000 matched binary volume and three personally recruited Silver affiliates) = “Bankok Tour” [sic]
- Diamond ($600,000 matched binary volume and three personally recruited Gold affiliates) = $15,000
- Executive ($3,000,000 matched binary volume and four personally recruited Diamond affiliates) = “diamong ring” and $200,000
- President ($120,000,000 matched binary volume and four personally recruited Executive affiliates) = $6,000,000 and “car of your choice”
Joining Beat Bitcoin
Beat Bitcoin affiliate membership is $2 plus an investment of at least $10.
Beat Bitcoin is pretty lazy as far as cryptocurrency Ponzi schemes go. The company website appears to have been set up in a few minutes and not even a pseudo-compliance explanation is provided for the annual ROI payouts.
Beat Bitcoin affiliates simply invest and the company magically produces a daily ROI for up to five years.
In reality all Beat Bitcoin are doing is using newly invested funds to pay off existing investors. This is combined with pyramid recruitment, which is used as an incentive to keep new funds flowing into the system.
As with all Ponzi schemes, once affiliate recruitment dies down so to will newly invested funds. This will see Beat Bitcoin unable to meet its daily ROI obligations, prompting a collapse.
The use of bitcoin means victim fund recovery will be particularly difficult, allowing the anonymous scammers running Beat Bitcoin a quick and quiet getaway.