BAASCorp supplies no info on its web site about who owns or runs the corporate.
BAASCorp’s web site area (“basscorp.com”) was privately registered on November eleventh, 2019.
On its web site, BAASCorp claims to be “Japan’s #1 Blockchain as a service Funding Platform”.
Seemingly in help of this, BAASCorp supplies an incomplete deal with in Hokkaido.
On the time of publication Alexa doesn’t fee Japan as a big supply of site visitors to BAASCorp’s web site.
In accordance with Alexa, the highest three sources of site visitors to BAASCorp’s web site are the US (21%), Vietnam (8%) and Canada (7%).
As all the time, if an MLM firm is just not overtly upfront about who’s operating or owns it, suppose lengthy and exhausting about becoming a member of and/or handing over any cash.
BAASCorp’s Merchandise
BAASCorp has no retailable services or products, with associates solely capable of market BAASCorp affiliate membership itself.
BAASCorp’s Compensation Plan
BAASCorp associates make investments bitcoin on the promise of marketed returns.
- Primary – make investments $50 to $500 and obtain 2% a day for 150 days
- Normal – make investments $1000 to $5000 and obtain 3% a day for 100 days
- Premium – make investments $10,000 to $50,000 and obtain 4% a day for 100 days
Though tracked in USD, precise funding is made in bitcoin. Returns are paid Monday via Friday.
Referral Commissions
BAASCorp pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel crew, with each personally recruited affiliate positioned instantly below them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel crew.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
BAASCorp caps payable unilevel crew ranges at seven.
Referral commissions are paid as a proportion of funds invested throughout these seven ranges as follows:
- stage 1 (personally recruited associates) – 10% when you’ve personally recruited as much as ten associates, 15% when you’ve recruited eleven or extra
- stage 2 – 7%
- stage 3 – 5%
- stage 4 – 4%
- stage 5 – 3%
- stage 6 – 2%
- stage 7 – 1%
Squad Revenue
Squad Revenue is a month-to-month bonus based mostly on affiliate recruitment throughout six unilevel crew ranges.
- generate a downline of 100 associates and obtain $100 a month
- generate a downline of 200 associates and obtain $250 a month
- generate a downline of 300 associates and obtain $500 a month
- generate a downline of 500 associates and obtain $1000 a month
- generate a downline of 1000 associates and obtain $3000 a month
- generate a downline of 1500 associates and obtain $5000 a month
- generate a downline of 2500 associates and obtain $10,000 a month
Once more, required downline are counted solely down six unilevel crew ranges.
Additionally notice that Squat Revenue funds are made at every tier for twelve months.
Becoming a member of BAASCorp
BAASCorp affiliate membership is free.
Full participation within the hooked up earnings alternative nevertheless requires a minimal $50 funding.
Be aware that each one deposits and withdrawals inside BAASCorp are made in bitcoin.
Conclusion
BAASCorp represents it makes ROI income through “blockchain functions”.
If that is senseless, it’s as a result of it doesn’t.
BAASCorp makes use of blockchain jargon to masks the actual fact it’s operating a Ponzi scheme.
Moreover BAASCorp’s passive funding alternative constitutes a securities providing.
Even when we entertain BAASCorp’s representations it’s based mostly out of Japan, the corporate supplies no indication it has registered with the Monetary Companies Company.
Maybe extra importantly, BAASCorp is just not registered with the SEC within the US (the corporate’s largest pool of buyers).
To summarize, new BAASCorp associates are recruited. They make investments and that cash is used to fund withdrawal requests from current associates.
When withdrawal requests exceed new funding, BAASCorp will go right into a deficit.
That’ll keep it up till BAASCorp’s nameless admins pull the plug and do a runner.
At that time BAASCorp may have collapsed, leaving nearly all of buyers with a loss.