BitXUp Review: Bitcoin pass-up gifting scheme
BitXUp provides no information on its website about who owns or runs the business.
The BitXUp website domain (“bitxup.com”) was registered on February 1st, 2019.
Mohammed Shoaib (right), who also goes by Muhammed, is listed as the BitXUp domain owner through an address in Karachi, Pakistan.
As far as I can tell, BitXUp is Shoaib’s first MLM launch.
Read on for a full review of the BitXUp MLM opportunity.
BitXUp has no retailable products or services, with affiliates only able to market BitXUp affiliate membership itself.
BitXUp affiliate membership provides access to a “BitxPix Digital Marketing Kit”.
BitxPix Digital Marketing Kit is marketed as “a brand new exotic quality video & graphic marketing kit for ANY marketing you NEEDS” [sic].
The BitXUp Compensation Plan
BitXUp affiliates sign up and gift 0.01 BTC to an existing affiliate.
This in turn qualifies them to receive 0.01 BTC gifting payments from subsequently recruited affiliates.
Gifting payments within BitXUp are tracked via a 1-up compensation structure.
A 1-up compensation structure is tracked through a unilevel team.
That is BitXUp affiliates you personally recruit are placed directly under you.
Any affiliates your personal recruits recruit are placed on your level 2 and so on and so forth.
The BitXUp affiliate you recruit gifts 0.01 BTC directly to you. The second affiliate you recruit is “passed up” and gifts 0.01 BTC to the affiliate who recruited you.
You keep 0.005 BTC gifting payments from the third affiliate recruited onward.
In turn, every affiliate you recruit must also pass up their second recruited affiliate 0.01 BTC gifting payment to you.
Through the unilevel team, this pass-up continues down a theoretical infinity number of levels.
The remaining 0.005 BTC from the third personally recruited affiliate gifting payment is split five levels upline through the unilevel team.
That equates to
- 0.001 BTC to the affiliate who recruited you
- 0.001 BTC to their upline (second level upline)
- 0.001 BTC to their upline (third level upline)
- 0.001 BTC to their upline (fourth level upline) and
- 0.001 BTC to their upline (fifth level upline)
Payments to you in turn come from the first five levels of your unilevel team.
For each third and subsequent affiliate recruited by BitXUp affiliates in the first five levels of your unilevel team, you’ll receive a 0.001 BTC split gifting payment.
Note that any BitXUp withdrawals attract a 0.0004 BTC fee.
BitXUp affiliate membership is tied to a 0.01 BTC gifting payment plus 0.0025 BTC gifting fee.
Note that all payments within BitXUp (both paid and received) are made in bitcoin.
BitXUp is a straight-forward gifting scheme.
You sign up, gift funds to an existing BitXUp affiliate and pending ongoing recruitment of new BitXUp affiliates, receive gifting payments from them.
Naturally never-ending recruit is unsustainable, resulting in a loss for the majority of BitXUp affiliates when it inevitably collapses.
As with any gifting scheme, most of the money is paid to the admin and early adopters.
In addition to admin fees collected, Mohammed Shoaib will receive the majority of funds through one or more preloaded admin positions.
A few early BitXUp adopters will receive what’s left, with the rest of the affiliate-base ultimately losing out.
Q: Are there any refunds?
The scam cherry on top is BitXUp’s use of bitcoin, which on collapse renders victim fund recovery nigh on impossible.