If you are active in the cryptocurrency exchange community, you probably have heard one thing or another about a new system called BizNet. It is causing quite a stir on social media platforms due to the many claims that its creators have made about it.
You might have been approached by one of your online colleagues about trying out this system and if you have come across this article before buying into BizNet, then you made the right choice. It is always best to know what you are getting into before actually getting into it and this article will let you know everything that you need to know about BizNet.
Keep reading to find out if BizNet is the real deal or if the creators are just trying to scam you.
What Is BizNet?
BizNet was created by two gentlemen by the names of Grigory Shemet and Alexander Chebotarev. It is a system to generate wealth through cryptocurrency and forex trading. A few sirens went off in my mind when I tried to look for information about the two creators of this system. There does not appear to be any information about them at all. There is no past information for either of them in the cryptocurrency or forex communities and it would seem odd for two random people to come out of nowhere with a system like this.
The idea of BizNet was likely conjured up in early 2016, as the BizNet website domain was claimed back in March of 2016. However, the site did not go live until early 2017. All of the countries involved in this business do sound off more sirens in my mind.
When doing a WHOIS check on the domain name for BizNet’s site, it is assigned to Mr. Shemet and the address he provided is in the Russian Federation. That by itself is not suspicious, however, the fact that BizNet became a legal corporation in the United Kingdom in March of 2017, despite not even having a business presence there. In addition to that, the actual server that hosts the BizNet site is located in the Central American country of Belize.
The fact that the creators are basically unknown and that the business has all kinds of countries tied to it may seem sketchy, but this can all be forgiven if their service is legitimate. Let’s take a look at what the actual service is.
What Does BizNet Sell?
Nothing. BizNet has not created any products or services to sell to potential consumers. Instead, all they offer is an affiliation opportunity. You can probably see where this is going. Once you become an affiliate, you start marketing for BizNet to get people in your network to sign up to be affiliates.
How Are Affiliates Compensated?
If you would like to sign up to be a BizNet affiliate, it is free to join, but you will have to invest 25 USD if you want to actually make money.
You can choose to either put that 25 USD investment towards cryptocurrency or forex trading. The compensation rates are as follows.
- 25 USD investment will net you a 15 percent return on investment each month.
- 3,000 USD investment will net you a 21 percent return on investment each month.
- 10,000 USD investment will net you a 27 percent return on investment each month.
As far as forex is concerned, all you have to do is make the initial 25 USD investment and your return on investment each month will fluctuate between 20 and 30 percent. Obviously, the more you invest, the more you will make.
Affiliates are also compensated for any people they get to sign up to become affiliates. The amount of compensation you get per affiliate sign up is also dependent on how much money you have invested into either cryptocurrency or forex trading. It is also dependent on how much money the people you have gotten to become affiliates invest.
Is BizNet Legitimate?
As you have been reading this review, I am sure that you have been thinking of two words: pyramid scheme. BizNet does indeed sound like a textbook pyramid scheme. A business that has no real product or service that generates revenue based on how many people sign up to be affiliates and invest to get monthly returns.
The creators of BizNet made some marketing films that claim that the funds that are used to pay out the monthly returns are based on investments in cryptocurrency and forex stocks. However, they have not laid out any concrete proof that this is the case. It could easily just be the money generated from the affiliation fees and investments from others that are used to spread the money around.
That raises the question: What happens when the money dries up? Well, then it would go the way of every other pyramid scheme. The creators would take all of the money that they have scammed from people and disappear just as quickly as they arrived. And since nothing is known about these two creators and it is not even known if they are real people at all, disappearing would be quite easy.
Everything about BizNet screams scam to me. As is the case with all pyramid schemes, you can sign up and make money for a little while. But if you are looking for a legitimate and consistent way to make money, BizNet is not the way to go. The money will dry up and then you will be shit out of luck.
I mean, let’s be real here. They promise 27 percent monthly returns for people who invest 10,000 USD. Why would they even make a system like this public? It would be much easier for the gentlemen to invest all of their life savings and even take out a huge bank loan and invest that to get the 27 percent returns. They would become billionaires pretty quickly without the need to set up such a complex system.
To wrap things up, while it is likely that you will see actual returns in the short term, it is not likely that you will break even on your initial investment. And it is even less likely that you will break even if you continue investing to try to increase your returns. As far as online money making opportunities, I would not touch this one with a ten foot pole. It sounds too easy and too good to be true, and that is because it is. This is a pyramid scheme through and through.