Bitqwik describes itself as the “World’s most powerful artificial intelligence BTC crowdfunding platform.” Find out how it works today in our review.
What is Bitqwik?
Bitqwik, found online at Bitqwik.net, claims to be a bitcoin crowdfunding platform. The platform introduces itself to the internet with one of the most obnoxious auto-play videos I’ve ever seen (you’re going to want to turn your speakers down before you visit the website).
At first glance, Bitqwik seems like a blatant scam. The company vaguely mentions a crowdfunding platform. However, the main product or service offered by Bitqwik is the membership. You sign up for the platform and make a “donation”, and then encourage other users to sign up to make a “donation” as well.
Like other online bitcoin scams, Bitqwik uses a multilevel marketing structure – also known as a pyramid scheme – to encourage users to sign up. Your “donation” (which is essentially a membership fee) is funneled to the top of the pyramid. The only way to make a positive ROI is to receive “donations” from people recruited beneath you.
How Does Bitqwik Work?
Bitqwik describes itself as an “artificial intelligence bitcoin crowd funding platform.”
Like other bitcoin scams, Bitqwik seems to just throw a bunch of technical jargon at users in the hopes of overwhelming and impressing you. There’s no evidence that Bitqwik has any type of “artificial intelligence” platform. They don’t even seem to have any type of crowdfunding system in place. As mentioned above, the only product or service being offered here is the new memberships.
Officially, this is how Bitqwik claims to work:
Step 1) You register for Bitqwik and pay a mandatory “donation”
Step 2) You recruit others to the platform, including people who have a cause they want to fund
Step 3) Receive donations
Bitqwik claims the rewards from donations are “absolutely huge”. In fact, the company claims you can turn a donation of 0.016 BTC (about $45 USD) into a total of 6 BTC (about $16,000 USD) just by recruiting other people. If you refer 100 people, you will earn $1.6 million – at least, according to the scam’s YouTube video.
Overall, it’s unclear how Bitqwik works, or how people fund their causes through the platform.
The Bitqwik business model seems to revolve around luring people in need to the platform, forcing them to pay donations, and then taking most of the donations for yourself. The cause is never funded, and users need to recruit other members to the scheme to get their “donation” back. It’s a blatant scam or pyramid scheme based on everything we can find online.
How Does Bitqwik Really Work?
Bitqwik tries to pretend it’s some sort of crowdfunding platform. In reality, this is a blatant multilevel marketing scam or pyramid scheme.
The scheme relies on recruiting new members to the platform. The pyramid scheme is supported through members “donations’, which are required in order to sign up for the company.
In terms of multilevel marketing structure, Bitqwik uses a 4×6 forced stage system with override donations.
Despite the fact that it’s a blatant scam, Bitqwik claims its users will make up to $16,000, or over 6 BTC by recruiting other people to the network. Earnings promises like this are what encourage new members to sign up. In fact, Bitqwik claims you can earn $60,000 for just 10 referrals, and $1.6 million for 100 referrals.
Ultimately, there’s no evidence suggesting that Bitqwik has paid anyone. Based on all of the information we can find online, Bitqwik seems to be a blatant pyramid scheme.
Who Created Bitqwik?
We’ve seen countless bitcoin scams launch online in recent months. Many of these scams have been linked to people who have run Ponzi schemes in the past – and been charged for it. The anonymous nature of cryptocurrency – and the massive gains people hear about – make the industry an easy target for scammers and Ponzi schemes.
So who’s behind Bitqwik?
Bitqwik, like most other pyramid schemes, refuses to tell us any information about itself, its management team, its employees, or its history. All we have is a single email address: firstname.lastname@example.org.
Meanwhile, WHOIS data shows us that the Bitqwik.net domain was registered on June 23, 2017. The person who registered that domain has chosen to keep their name private.
The only other “clue” we have about the creator of Bitqwik is that the YouTube account associated with the company is named opitimusX. That account is five years old. Over the past five years, the company has repeatedly uploaded information about scams and “get rich quick” schemes online. In recent weeks, it’s been posting information about making money with bitcoin – including one “webinar” where they teach you how to make $100,000 a day with bitcoin. No further information about that account is available.
Conclusion: Is Bitqwik a Scam?
Bitqwik is absolutely a scam – and not even a very good one. The company claims to have some type of AI-managed crowdfunding platform. In reality, there’s no evidence it has any type of AI or crowdfunding system in place. The only system they have is a membership scheme based on a pyramid structure. You pay an entry fee (called a “donation”) to join the pyramid, and then attempt to recruit gullible people to earn a return on your investment.
There are so many red flags surrounding Bitqwik that we can’t even list them all. However, in general, if someone promises to give you $1.6 million online with little to no work, but refuses to tell you any information about themselves, and then asks you to pay a hefty fee, you’re probably being scammed. Such is the case with Bitqwik.