BitWaves provide no information on their website about who owns or runs the business.

On their website BitWaves claims to be “a UK registered company”. This corresponds with BitWaves Financial Limited, incoporated in the UK on October 3rd, 2017.

Morgan Stevenson is listed as the sole Director of the company, through an address in Bedfordshire, England.

Outside of BitWaves incorporation documents, Morgan Stevenson doesn’t appear to exist.

UK incorporation is pretty cheap and a favorite of MLM underbelly scammers.

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.

BitWaves Products

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

The BitWaves Compensation Plan

BitWaves affiliates invest funds on the promise of an advertised ROI:

  • Starter Plan – invest $25 or more and receive a 4% daily ROI for 40 days (160%)
  • Perfect Plan – invest $200 or more and receive a 0.3% hourly ROI for 450 hours (135% in 18.75 days)

Referral commissions are available on funds invested by recruited affiliates, paid down three levels of recruitment (unilevel):

  • level 1 (personally recruited affiliates) – 6%
  • level 2 – 2%
  • level 3 – 1%

Joining BitWaves

BitWaves affiliate membership is free, however free affiliates can only earn referral commissions.

Full participation in the BitWaves MLM opportunity requires a minimum $25 investment.

Conclusion

The ruse behind BitWave’s ROI revenue is “cryptocurrency & forex trading”.

Majority of the the [sic] profit earned is through trading in cryptocurrency market and forex trading markets.

Naturally no evidence of trading taking place is provided, much the less profit from trading activity used to fund affiliate ROIs.

That leaves affiliate investment as BitWaves’ only verifiable source of revenue.

Using newly invested funds to pay off existing investors makes BitWaves a Ponzi scheme.

As with all Ponzi schemes, once affiliate recruitment dies down so too will new funds entering the scheme.

This will see BitWaves starved of revenue and unable to meet its ROI obligations.

This eventually prompts a collapse, resulting in the majority of BitWaves affiliates losing money.