ReferABit provide no information on their website about who owns or runs the company.

The ReferABit website domain (“”) was privately registered on May 20th, 2017.

Copy on the ReferABit website is copy and pasted from Bitcoin Banking, with both websites also sharing the same design template:

The Bitcoin Banking website domain (“”) was registered with bogus details on March 23rd, 2017.

Bitcoin Banking solicit bitcoin investment and offer daily ROIs of up to 10% for 90 days.

New affiliate investment is the only verifiable source of revenue entering Bitcoin Banking, which strongly suggests it is a Ponzi scheme.

The Bitcoin Banking website domain was registered through an Indian domain registrar. The site is hosted in Singapore (cloud), however Alexa estimate that 100% of traffic to the Bitcoin Banking website originates out of India.

It follows that whoever is running ReferABit and Bitcoin Banking is also based 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.

ReferABit Products

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

The ReferABit Compensation Plan

ReferABit affiliates invest $50 or more on the promise of a daily ROI for 100 days.

How much of a ROI is paid out is determined by how much an affiliate invests:

  • Starter – invest $50 to $999 and receive a 2% daily ROI for 100 days
  • Professional – invest $1000 to $1999 and receive a 2.25% ROI for 100 days
  • Expert – invest $2000 or more and receive a 2.5% daily ROI for 100 days

Residual referral commissions are paid out via binary and unilevel compensation structures.

Residual Referral Commissions (binary)

A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):

The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).

Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.

Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note that there is no limit to how deep a binary team can grow.

Residual referral commissions are paid out as a percentage of funds invested on the weaker binary side (the side with less investment volume).

At the end of each day ReferABit calculate the binary side with less volume. Affiliates are paid 10% of this volume.

Residual Referral Commissions (unilevel)

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.

ReferABit cap payable unilevel levels at five. Commissions paid out as a percentage of funds invested across these five levels:

  • level 1 (personally recruited affiliates) – 5%
  • level 2 – 4%
  • level 3 – 3%
  • level 4 – 2%
  • level 5 – 1%

Joining ReferABit

ReferABit affiliate membership is free, however affiliates must invest at least $50 to participate in the attached income opportunity.


The ruse behind both Bitcoin Banking and ReferABit’s daily ROI payouts is bitcoin trading.

Bitcoin trading is different than buying and holding.

When you are trading Bitcoins it means that you are actively trying to buy Bitcoins at a low price and sell them back at a higher price in a relatively short interval.

The problem is there is no proof provided of any bitcoin trading taking place. Furthermore legitimate trading does not pay a fixed ROI over a set period of time.

There’s also the problem of failing to pass the Ponzi logic test.

If ReferABit’s anonymous owner(s) was/were able to consistently generate a minimum 2.5% daily ROI (they’d need to make more to cover referral commissions), why would they share it with random investors over the internet?

2.5% a day is 912.5% annually. Under these conditions even a modest bank loan would explode in just a few short months.

A 2.5% daily ROI is possible only with a fixed source of revenue, which in this case is newly invested affiliate funds.

The use of newly invested funds to pay off existing investors makes ReferABit a Ponzi scheme.

Referral commissions pay affiliates to recruit new affiliates who invest, adding an additional pyramid layer to the scheme.

It seems someone has either purchased or designed a website template with a Ponzi back-end, which they’re hoping to release under multiple names before people catch on.

The reality of Ponzi schemes like ReferABit and Bitcoin Banking is that when affiliate recruitment dies down, ROI payments might continue in the backoffice but the reality is there is no money to pay out.

At that point the scams collapse, leaving the majority of affiliates with a loss.