Is Bitdax Global another cryptocurrency MLM scam?
Bitdax Global is a UK-based company that provides an online investment program that allows individuals to invest in cryptocurrencies and get high returns as an outcome. On top of that, the platform also enables users to earn money from referring other potential investors who want to include cryptocurrency in their portfolios.
However, the Fintech institution's primary goal is to offer the AI trading strategies, cryptocurrency trading and ICO investing through significant exchanges. The site discloses that investors will get to use the trading algorithm to make a profit in the volatile cryptocurrency market.
Bitdax Global's products
Overall Bitdax Global has no real product, and the project mainly dwells on their affiliate marketing and investment plans as the core of the concept. Here what they are offering
Affiliates will need to invest $50worth of cryptocurrency in order to become eligible for the weekly ROI of 5% for 200 days. Using the Bitdax Global token, the affiliates investment criteria will be as follows
- Regular affiliate – $50 a day
- Bit Bronze Leader – $100 a day
- Bit Gold Leader – $200 a day
- Bit Diamond – $750 a day
- Bitcoin Leader and higher – no limit
- Bit Bronze leader- invest 2000 tokens, at least ten affiliates members and a downline investment of 10,000 tokens
- Bit Gold Leader- spend 5,000 tokens and personally recruit twenty affiliates. A downline venture of 20,000 tokens is also necessary
- Bit Diamond Leader- will require 10,000 tokens, a total of 35 subsidiaries and 60,000 tokens as downline investment
- Bitcoin Leader- carries a limit of 20,000 tokens and fifty members to qualify. A minimum of 200,000 bonus tokens is also a requirement
- Bit President- to achieve this phase users will need to have a minimum of 100,000 tokens and at least 1,000,000 bonus tokens. Personally, you will need to recruit one hundred affiliates
Group mining pool
Bitdax Global affiliates who successfully invest 5000 or more tokens get a monthly share from the Global Mining Pool. The pool is made up of 5% of the company's total global revenue.
Apparent business opportunities
- For business traders
Cryptocurrency traders should expect a weekly return rate of 5-7% with the profits accrued from Monday to Friday. Additionally, you can earn daily returns of 1%
- For business builder
For business promoters looking for a unique and revolutionary platform, Bitdax Global offers 100% matching rewards with additional commissions and bonuses to grow your business. The Global Bitcoin Mining Pool Share also provides a residual income option
- Rewards and incentives
Bitdax intends to appreciate the efforts of the members through incentives such as financing options among other incentive plans
Proof that Bitdax Global may be a scam
Bitdax Global only offers a lot of promises which lacks the necessary foundation. Overall, the concept is somewhat nonsensical and bears lots of claims.
Here's why we think that:
- Bitdax Global is not transparent with the owners and the apparent AI algorithm or trading strategies remaining anonymous.
- The site focuses on only gaining subscribers through its MLM-based structure. This points to a straight scam which only works to achieve more investment.
- The alleged returns are also not valid since the cryptocurrency market cannot sustain such outcomes for investors.
- Relying on affiliate recruitment is not a reliable strategy since it can decline and starve the Bitdax Global platform of ROI revenue.