My Cryptobit operates within the MLM cryptocurrency area of interest.
Though My Cryptobit supplies a full listing of executives on their web site, most have little to no social footprint – which is at all times suspicious.
Two names I used to be in a position to peg to My Cryptobit are David Bras and Ozcan Come.
On the My Cryptobit web site Come is cited as the corporate’s proprietor, CEO and founder.
David Bras is barely cited as “Division Advertising and marketing Content material”, nonetheless on his Fb profile he additionally identifies himself as a My Cryptobit proprietor and founder.
Ozcan and Bras seem like primarily based out of Switzerland and circa 2017 launched one thing referred to as Capital Options:
No matter Capital Options was, it was deserted in October 2017. Ozcan and Bras based My Cryptobit a month later in November.
Learn on for a full evaluate of the My Cryptobit MLM alternative.
My Cryptobit Merchandise
My Cryptobit has no retailable services or products, with associates solely in a position to market My Cryptobit affiliate membership itself.
My Cryptobit affiliate membership supplies entry to an app, which the corporate claims is
the world’s first cryptocurrency software that features all the things essential concerning the cryptomarket.
Particular informational areas talked about on the My Cryptobit web site embody:
- ICO analysis
- a long-term coin portfolio
- an airdrop service
- day by day bitcoin evaluation
- one faucet buying and selling and
- essential market information
The My Cryptobit Compensation Plan
My Cryptobit associates make investments funds on the expectation of a ROI.
The general public are of My Cryptobit’s web site doesn’t present any info on the funding facet of the enterprise.
My Cryptobit associates pay as much as $1500 in membership charges once they join, which the corporate makes use of to pay recruitment commissions.
My Cryptobit Affiliate Ranks
There are 13 affiliate ranks inside the My Cryptobit compensation plan.
Together with their respective qualification standards they’re as follows:
- Rookie – join as a My Cryptobit affiliate
- Bronze – generate $1500 or extra in accrued downline membership charges
- Silver – generate $5000 or extra in accrued downline membership charges
- Gold – generate $25,000 or extra in accrued downline membership charges
- Platinum – generate $50,000 or extra in accrued downline membership charges
- Sapphire – generate $100,000 or extra in accrued downline membership charges
- Ruby – generate $250,000 or extra in accrued downline membership charges
- Emerald – generate $500,000 or extra in accrued downline membership charges
- Diamond – generate $1,500,000 or extra in accrued downline membership charges
- Double Diamond – generate $3,000,000 or extra in accrued downline membership charges
- Blue Diamond – generate $7,500,000 or extra in accrued downline membership charges
- Black Diamond – generate $18,000,000 or extra in accrued downline membership charges
- Imperial Diamond – generate $48,000,000 or extra in accrued downline membership charges
Recruitment Commissions
My Cryptobit pays recruitment commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel group, with each personally recruited affiliate positioned straight below them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel group.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
My Cryptobit cap payable unilevel group ranges at ten, nonetheless associates initially solely qualify to earn commissions on three ranges.
After personally recruiting a minimum of three associates and constructing a complete unilevel group of a minimum of fifteen associates, a My Cryptobit affiliate earns residual commissions on all ten accessible ranges.
My Cryptobit pay residual commissions on funds invested throughout ten unilevel group ranges as follows:
- degree 1 (personally recruited associates) – 15%
- ranges 2 and three – 5%
- degree 4 – 4%
- degree 5 – 3%
- degree 6 – 2%
- degree 7 – 3%
- ranges 8 and 9 – 4%
- degree 10 – 5%
International Bonus Swimming pools
My Cryptobit take 10% of “weekly revenue” and place it into ten separate International Bonus Swimming pools.
Sapphire and better ranked My Cryptobit associates qualify for an equal share in a rank corresponding International Bonus Pool as follows:
- Sapphire – 2% International Bonus Pool
- Ruby – 2% International Bonus Pool
- Emerald – 1% International Bonus Pool
- Diamond – 1% International Bonus Pool
- Double Diamond – 1% International Bonus Pool
- Blue Diamond – 1% International Bonus Pool
- Black Diamond – 1% International Bonus Pool
- Imperial Diamond – 1% International Bonus Pool
Becoming a member of My Cryptobit
My Cryptobit affiliate membership is both
- $500 for 3 months
- $900 for six months or
- $1500 yearly
Extra funds are required to take part in My Cryptobit’s hooked up funding alternative.
Conclusion
At its core, My Cryptobit is an MLM cryptocurrency funding alternative with a prohibitively costly entry-fee.
There’s a couple of causes for this I can consider; specifically that there’s an expectation most traders will entrance $500 for 3 months, see in the event that they receives a commission after which commit.
Secondary to that is the necessity to divert affiliate charges to pay associates taking part within the hooked up funding alternative.
Though they declare to generate ROI income by means of buying and selling, My Cryptobit supplies no exhausting proof of buying and selling income getting used to pay associates.
My Cryptobit do supply a listing of purported trades on the “efficiency” part of their web site. These nonetheless are meaningless and will not be an alternative to audited accounting.
Owing to the passive nature of My Cryptobit’s funding alternative, it’s clearly a securities providing.
Nowhere on their web site does My Cryptobit present any info to counsel it’s registered with securities regulators in any jurisdiction it operates in.
This alone makes My Cryptobit unlawful in each nation that regulates securities (virtually all of them).
Under securities fraud traders additionally run the chance My Cryptobit is engaged in Ponzi fraud.
Within the absence of any proof in any respect on the contrary, the choice is David Bras and Ozcan Kome, neither of whom have seen buying and selling backgrounds, awoke in the future and began producing a 695% ROI each 40 days.
And so they’ll allow you to in on the gravy practice for a measly $125 a month.
Riiiiiiiiiiiight.