BTCxCanada Review: Canadian themed MMM Global Ponzi clone
There is no information on the BTCxCanada website indicating who owns or runs the business.
The BTCxCanada website’s “about us” page has a spiel that suspiciously sounds like MMM Global Ponzi cult garbage:
This is a community of ordinary people, selflessly helping each other, a kind of the Global Fund of mutual aid. This is the first sprout of something new in the modern soulless and ruthless world of greed and hard cash.
The goal here is not the money. The goal is to destroy the world’s unjust financial system. Financial Apocalypse!
Before you join, be sure to be acquainted with our IDEOLOGY!
The BTCxCanada website domain was registered on the 13th of July 2016, however the domain registration is set to private.
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 BTCxCanada Product Line
BTCxCanada has no retailable products or services, with affiliates only able to market BTCxCanada affiliate membership itself.
The BTCxCanada Compensation Plan
BTCxCanada affiliates invest between $20 and $10,000 on the promise of an advertised daily 10% to 20% ROI.
A direct referral commission of 12% is paid on funds invested by personally recruited affiliates.
If a BTCxCanada affiliate recruits three affiliates who invest, they qualify for residual referral commissions.
Residual referral commissions in BTCxCanada 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.
BTCxCanada cap payable unilevel levels at twenty, with commissions paid out as a percentage of funds invested by a unilevel team as follows:
- level 1 (personally recruited affiliates) – 5%
- level 2 – 3%
- level 3 – 2%
- level 4 – 1%
- levels 5 to 10 – 0.5%
- levels 11 to 20 – 0.25%
Note that the 5% level 1 commission is paid in addition to the 12% direct referral commission.
BTCxCanada affiliate membership is tied to an investment of between $20 and $10,000.
MMM Global offered 100% a month Ponzi ROIs. The scam proclaimed the same “financial apocalypse” nonsense as BTCxCanada in an attempt to justify Ponzi fraud.
In the end MMM Global collapsed and the majority of investors lost money.
BTCxCanada appears to be a relaunch of the concept, specifically targeting Canadians. If I had to guess, BTCxCanada is probably being run by a Canadian who was an affiliate in MMM Global.
Regardless, BTCxCanada is a Ponzi scheme that uses newly invested funds to pay off existing investors.
The anonymous admin(s) of the scheme will have preloaded BTCxCanada with one or more positions, guaranteeing they are first to be paid each month.
Whatever is left is distributed to the BTCxCanada affiliate-base, for as long as new victims continue to join the scheme.
There is no legitimate business taking place within BTCxCanada, with the inevitable collapse resulting in the majority of BTCxCanada affiliates losing money.
They may be targeting Canadians, but under the Legal & License: “BTC Galaxy is a member of Financial Services Complaints Ltd. FSCL”, the organization they refer to is in New Zealand at: fscl.org.nz/ and is indeed where you can file a complaint, but it has nothing to do with Canada.
Also, there are many mistakes in their website’s English, and the grammar use and certain word choices suggest India or the subcontinent area.
As you noted a lot of the material was cut and pasted from somewhere else, for example the information on gold, which does not have the same style as their other text, suggesting a cut and paste from another source.
Scam through and through.
I figured it was probably India too but I try not to guess origin if I don’t know for sure.
Alot of the grammar mistakes are common with SE Asia and Africa.