Bit-ATM offers no info on its web site about who owns or runs the corporate.
Bit-ATM’s web site area (“bit-atm.web”) was privately registered on July twenty ninth, 2020.
Regardless of not current till a couple of months in the past, on its web site Bit-ATM claims ‘we began with our enterprise on Bitcoin growth again in 2017.’
Alexa ranks Venezuela (16%), Russia (9%) and India (6%) as the highest three sources of visitors to Bit-ATM’s web site.
As all the time, if an MLM firm is just not brazenly upfront about who’s working or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
Bit-ATM’s Merchandise
Bit-ATM has no retailable services or products, with associates solely capable of market Bit-ATM affiliate membership itself.
Bit-ATM’s Compensation Plan
Bit-ATM associates make investments USD or bitcoin on the promise of a perpetual 3% day by day return.
Referral fee son invested funds are paid out down three ranges of recruitment (unilevel):
- degree 1 (personally recruited associates) – 10%
- degree 2 – 3%
- degree 3 – 1%
Becoming a member of Bit-ATM
Bit-ATM affiliate membership is free.
Full participation within the connected earnings alternative requires a minimal $10 or 0.0009378 BTC funding.
Conclusion
Bit-ATM represents it generates exterior income by way of a crypto ATM community.
BIT-ATM is a community of ATM terminals all over the world. This provides a risk to purchase or promote cryptocurrency to anyone both with money or by bank card.
Our engineers discovered a technical answer, which allowed utilizing our ATMs for mining cryptocurrency. It’s not an inexpensive deal, however this enables us to make sure extra earnings for our buyers.
Supposedly income is generated by way of alternate charges and crypto mining.
Not proof of Bit-ATM having exchanges or producing mining income is supplied.
Moreover Bit-ATM’s enterprise mannequin fails the Ponzi logic take a look at.
If Bit-ATM’s nameless proprietor already has ATMs in place able to sustaining a 3% day by day return, what do they want your cash for?
Because it stands the one verifiable income getting into Bit-ATM is new funding.
Utilizing new funding to pay Bit-ATM associates a perpetual 3% day by day return makes Bit-ATM a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve Bit-ATM of ROI income, ultimately prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, nearly all of buyers lose cash.