BuddyX fails to provide ownership or executive information on its website.

BuddyX’s website domain (“buddy.io”), was privately registered on July 21st, 2023.

It should be noted that prior to July 2023, BuddyX went by BuddyCorp.

That iteration of the company appears to have collapsed, making BuddyX a reboot.

Further research reveals BuddyX marketing videos citing Mahesh Sharma as founder of the company.

Instead of acknowledging he owns BuddyX, Sharma cites himself as “head of marketing” on LinkedIn.

Despite claiming to have gotten involved in MLM back in 2011, Sharma’s LinkedIn profile doesn’t go into specifics.

Circa 2017 Mahesh was promoting Billionex World, a collapsed MLM crypto Ponzi scheme.

After Billionex World came Digiex, a collapsed staking model Ponzi built around Digix token.

Digiex appears to have collapsed circa 2020. What Sharma has been up to since then is unclear.

On its website, BuddyX claims its “head quarter and operation” is in the UAE.

This tracks with BuddyX citing its location as Dubai on FaceBook:

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

On FaceBook Mahesh Sharma represents he is based out of Delhi, India. Whether he’s since fled to Dubai is unclear.

BehindMLM’s guidelines for Dubai are:

  1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
  2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to BuddyX, read on for a full review.

BuddyX’s Products

BuddyX has no retailable products or services.

Affiliates are only able to market BuddyX affiliate membership itself.

BuddyX’s Compensation Plan

BuddyX affiliates invest in BDYX tokens.

Investments are made in $100 chunks, capped at five hundred $100 investments per BuddyX affiliate.

Note that a $1 per month fee is charged on each $100 investment position.

Passive returns paid out on BDYX investment are determined by how long an affiliate waits to withdraw:

  • don’t withdraw for 30 days and receive a 5% ROI
  • don’t withdraw for 60 days and receive a 10% ROI
  • don’t withdraw for 120 days and receive a 20% ROI
  • don’t withdraw for 180 days and receive a 30% ROI

Effectively BDYX token investment returns are paid at 5% a month.

Note that returns are paid in BDYX, which must be converted for withdrawal through an internal exchange named BuddyDex.

Also note that once 300% has been reached (combining both the monthly ROI and MLM commissions), reinvestment is required to continue earning.

Reinvestment must be equal to or greater than the last investment.

The MLM side of BuddyX pays on recruitment of affiliate investors.

BuddyX Affiliate Ranks

There are ten affiliate ranks within BuddyX’s compensation plan.

Along with their respective qualification criteria, they are as follows:

  1. Executive – sign up as a BuddyX affiliate and recruit one affiliate
  2. Star Executive – recruit two affiliates
  3. Super Star – recruit three affiliates
  4. Silver Star – recruit four affiliates and generate $10,000 in downline investment volume
  5. Gold Star – recruit five affiliates and generate $20,000 in downline investment volume
  6. Pearl Star – recruit six affiliates and generate $50,000 in downline investment volume
  7. Platinum Star – recruit seven affiliates and generate $100,000 in downline investment volume
  8. Sapphire Star – recruit eight affiliates and generate $200,000 in downline investment volume
  9. Emerald Star – recruit nine affiliates and generate $300,000 in downline investment volume
  10. Diamond Star – recruit ten affiliates and generate $500,000 in downline investment volume

Note that no more than 40% of required downline investment volume can come from any one recruitment leg.

Referral Commissions

BuddyX pays referral commissions on invested by personally recruited affiliates.

Referral commission rates are determined by how many affiliates have been recruited:

  • recruit one affiliate and receive a 5% referral commission rate
  • recruit two affiliates and receive a 6% referral commission rate
  • recruit three affiliates and receive a 7% referral commission rate
  • recruit four affiliates and receive an 8% referral commission rate
  • recruit five affiliates and receive a 9% referral commission rate
  • recruit six affiliates and receive a 10% referral commission rate

Residual Commissions

BuddyX pays referral commissions 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.

BuddyX caps payable unilevel team levels at ten.

Referral commissions are paid out as a percentage of new investment across these ten levels based on rank:

  • Executives earn 5% to 10% on level 1 (paid as referral commissions, see “Referral Commissions” above)
  • Star Executives earn 5% to 10% on level 1 and 4% on level 2
  • Super Stars earn 5% to 10% on level 1, 4% on level 2 and 3% on level 3
  • Silver Stars earn 5% to 10 % on level 1, 4% on level 2, 3% on level 3 and 2% on level 4
  • Gold Stars earn 5% to 10 % on level 1, 4% on level 2, 3% on level 3, 2% on level 4 and 1% on level 5
  • Pearl Stars earn 5% to 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
  • Platinum Stars earn 5% to 10 % on level 1, 4% on level 2, 3% on level 3, 2% on level 4, 1% on level 5 and 0.5% on levels 6 and 7
  • Sapphire Stars earn 5% to 10 % on level 1, 4% on level 2, 3% on level 3, 2% on level 4, 1% on level 5 and 0.5% on levels 6 to 8
  • Emerald Stars earn  5% to 10 % on level 1, 4% on level 2, 3% on level 3, 2% on level 4, 1% on level 5 and 0.5% on levels 6 to 9
  • Diamond Stars earn 5% to 10 % on level 1, 4% on level 2, 3% on level 3, 2% on level 4, 1% on level 5, 0.5% on levels 6 to 9 and 1% on 10

Matching Bonus

BuddyX pays a Matching Bonus on downline earnings down three levels of recruitment (unilevel):

  • level 1 (personally recruited affiliates) – 10% match
  • levels 2 and 3 – 5% match

Fast Start Bonus

If a BuddyX affiliate recruits seven affiliate investors within their first ten days, they receive 50% of their own initial investment back.

Note that to count towards the Fast Start Bonus, recruited affiliates must have invested at least the amount of the recruiting affiliate’s initial investment.

Bumper Bonanza

If a BuddyX affiliate recruits three affiliates who each qualify for the Fast Start Bonus, all within 30 days of the recruiting affiliate signing up, they receive 100% of their initial investment back.

Once again to count towards the Bumper Bonanza, recruited affiliates must have invested at least the amount of the recruiting affiliate’s initial investment.

Rank Bonus

Despite the name, BuddyX’s Rank Bonus has nothing to do with affiliate rank.

Instead the Rank Bonus is a downline investment bonus, paid out at various volume milestones:

  • generate $500,000 in downline investment volume and receive a 2% Rank Bonus
  • generate $1,000,000 in downline investment volume and receive a 3% Rank Bonus
  • generate $2,000,000 in downline investment volume and receive a 5% Rank Bonus

Note that no more than 40% of required investment volume can come from any one recruitment leg.

Performance Bonus

The Performance Bonus rewards BuddyX affiliates for generating set downline investment amounts.

  • generate $50,000 in downline investment volume and receive $500 a month for 10 months
  • generate $100,000 in downline investment volume and receive $1200 a month for 10 months
  • generate $200,000 in downline investment volume and receive $2500 a month for 10 months
  • generate $500,000 in downline investment volume and receive $6000 a month for ten months
  • generate $1,200,000 in downline investment volume and receive $15,000 a month for ten months
  • generate $3,500,000 in downline investment volume and receive $50,000 a month for ten months

Note that in order to continue receiving the monthly bonus, 10% of the original required amount is required to be maintained each month.

E.g. you generate $200,000 and qualify for $2500 a month for ten months. After qualifying, you need to continue to generate at least $20,000 in downline investment volume to receive the $2500 each month.

Avengers Rewards

The Avengers Reward is yet another bonus for generating downline investment within a set period of time.

  • generate $10,000 in downline investment within 30 days of signing up and receive $1000
  • generate $25,000 in downline investment within 60 days of signing up and receive $2200
  • generate $75,000 in downline investment volume within 90 days of signing up and receive $5000
  • generate $250,000 in downline investment volume within 150 days of signing up and receive $15,000
  • generate $500,000 in downline investment volume within 210 days of signing up and receive $25,000
  • generate $1,500,000 in downline investment volume within 300 days of signing up and receive $50,000
  • generate $3,500,000 in downline investment volume within 420 days of signing up and receive $120,000
  • generate $7,500,000 in downline investment volume within 600 days of signing up and receive $300,000
  • generate $20,000,000 in downline investment volume within 840 days of signing up and receive $700,000
  • generate $50,000,000 in downline investment volume within 1100 days of signing up and receive $2,000,000
  • generate $25,000,000 in downline investment volume within 2000 days of signing up and receive $10,000,000

Joining BuddyX

BuddyX affiliate membership is free.

Full participation in the attached income opportunity requires a minimum $100 investment.

BuddyX Conclusion

BuddyX is a simple MLM crypto Ponzi scheme.

BuddyX affiliates invest in BDYX tokens on the promise of a 300% ROI. Recruitment of new investors speeds up the ROI, after which reinvestment is required. This mandatory reinvestment keeps the scaming going a bit longer.

Attached to BuddyX’s fraudulent investment scheme is a bunch of irrelevant marketing.

We have BuddyX Meet, a Zoom clone:

Buddy Games:

And Buddy Esim:

These offering are pseudo-compliance and do not legitimize BuddyX’s central 300% ROI Ponzi scheme.

On the regulatory front, SimilarWeb tracked November 2023 top sources of traffic to BuddX’s website as India (63%) and the US (11%).

BuddyX fails to provide evidence it has registered with the Securities and Exchange Board of India. A search of the SEC’s public Edgar database reveals neither BuddyX or Mahesh Sharma are registered in the US.

This means that at a minimum, BuddyX is committing securities fraud in its two largest investor markets.

As it stands, the only verifiable source of revenue entering BuddyX is new investment.

Through BuddyDEX, earlier BuddyX investors cash out subsequently invested funds. This flow of money is what makes BuddyX a Ponzi scheme.

As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.

This will starve BuddyX of ROI revenue, eventually prompting a collapse.

The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.

One final note is BDYX not being publicly tradeable. In addition to being worthless outside of BDYX, watch out for a public exchange BDYX dump when or as BuddyX inevitably collapses.