BitPays Global Review: Bitcoin-based 45 day Ponzi ROIs
There is no information on the BitPays Global website indicating who owns or runs the business.
The BitPays Global website domain (“bitpaysglobal.org”) was registered on the 2nd of August 2016.
The domain registration lists only “Methew” as the owner and Hong Kong as an address. The details provided appear to be completely bogus.
Alexa currently estimate that 92.8% of all traffic to the BitPays Global website originates out of India. This strongly suggests that whoever is running BitPays Global is also 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.
The BitPays Global Product Line
BitPays Global has no retailable products or services, with affiliates only able to market BitPays Global affiliate membership itself.
The BitPays Global Compensation Plan
BitPays Global affiliates invest up to $10,000 on the promise of an advertised ROI:
- invest $50 to $500 and receive a 5% daily ROI for 45 days (225%)
- invest $550 to 2000 and receive a 6% daily ROI for 45 days (270%)
- invest $2050 to $10,000 and receive a 7% daily ROI for 45 days (315%)
Note that in order to withdraw a ROI, BitPays Global affiliates are required to reinvest the amount they initially invested.
Referral commissions in BitPays Global are paid out via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Referral commissions are paid out as a percentage of funds invested by a unilevel team.
How many levels deep a BitPays Global affiliate can earn referral commissions on is determined by how many affiliates they’ve recruited:
- recruit 1 to 9 affiliates and earn 5% on level 1 (personally recruited affiliates)
- recruit 10 to 99 affiliates and earn 10% on level 1 and 4% on level 2
- recruit 100 to 999 affiliates and earn 10% on level 1, 4% on level 2, 3% on level 3 and 2% on level 4
- recruit 1000 or more affiliates and earn 10% on level 1, 4% on level 2, 3% on level 3, 2% on level 4, 1% on level 5 and 0.5% on level 6 onwards
Joining BitPays Global
BitPays Global affiliate membership is tied to a $50 to $10,000 investment.
Channeling MMM Global‘s “provide help, get help” nonsense, BitPays Global operates a three-tier Ponzi scheme.
This is a Community of people who are changing the world, people who have no guarantees of repayment of their funds, they donate money to help people, the same simple people as they are, in need at this moment.
BitPays Global is likely being run by scammers in India, who I’d be willing to bet were MMM Global participants.
The only verifiable source of revenue entering BitPays Global is affiliate investment, which is used to pay out ROIs of up to 7% a day.
Needless to say if the owner(s) of BitPays Global was/were able to generate that legitimately on a consistent basis, they’d have no reason to solicit funds from affiliates.
At 7% a month, even a modest bank loan would soon generate a fortune.
As with all Ponzi schemes, once recruitment of new affiliates dies down so too does new funds entering the scheme.
No new funds means BitPays Global will be unable to meet its advertised ROI obligations.
With a 45 day maturity period and the likelihood of BitPays Global affiliates rolling over commissions into reinvestment, the admins have plenty of time to do a runner with invested funds.
BitPays Global affiliates will only realize they’ve been scammed when withdrawal requested are delayed or denied, by which point it is already too late.
As an added kick in the nuts, the use of bitcoin by BitPays Global means fund recovery for victims will be next to impossible.