BitRobot offers no details about who owns or runs the corporate on its web site.
BitRobot’s web site area (“bit-robot.io”) was privately registered on March eleventh, 2020.
In an try to seem professional, Bit Robotic offers a UK incorporation quantity on its web site.
The quantity corresponds with Robots Options Restricted, included on July twenty seventh.
UK incorporation is filth low-cost and successfully unregulated. It’s a favored jurisdiction for scammers trying to incorporate dodgy corporations.
On the time of publication Alexa ranks BitRobot’s prime three sources of web site visitors as Bangladesh (15%), Russia (10%) and Iran (7%).
As at all times, if an MLM firm just isn’t brazenly upfront about who’s operating or owns it, assume lengthy and onerous about becoming a member of and/or handing over any cash.
BitRobot’s Merchandise
BitRobot has no retailable services or products, with associates solely in a position to market BitRobot affiliate membership itself.
BitRobot’s Compensation Plan
BitRobot associates make investments USD and/or cryptocurrency on the promise of marketed returns:
- Fundamental – make investments 0.02 to 0.19999999 BTC ($250 to $2499.99) and obtain “round 14%” month-to-month
- Performer – make investments 0.2 to 1.99999999 BTC ($2500 to $24,999.99) and obtain “round 17%” month-to-month
- Supreme – make investments 2 BTC ($25,000) or extra and obtain “round 21%” month-to-month
BitRobot caps returns at 200%.
Notice that whereas solely bitcoin and USD quantities are supplied above, BitRobot solicits funding in bitcoin money, sprint, ethereum, litecoin, pivx, ripple and monero.
BitRobot Affiliate Ranks
There are 9 ranks inside BitRobot’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Rookie – make investments $250
- Chief – make investments $500 and generate $1000 in downline funding
- Supervisor – make investments $750 and generate $3000 in downline funding
- Vice Director – make investments $1500 and generate $10,000 in downline funding
- Director – make investments $2500 and generate $30,000 in downline funding
- Vice President – make investments $5000 and generate $100,000 in downline funding
- Chairman – make investments $7500 and generate $300,000 in downline funding
- Platinum Chairman – make investments $15,000 and generate $1,000,000 in downline funding
- Diamond Chairman – make investments $25,000 and generate $3,000,000 in downline funding
Notice that BitRobot solely counts downline funding by way of 9 ranges of recruitment (unilevel):
- 100% of funding on stage (personally recruited associates) is counted
- 50% of funding on stage 2 is counted
- 30% of funding on stage 3 is counted
- 15% of funding on stage 4 is counted
- 10% of funding on stage 5 is counted
- 5% of funding on stage 6 is counted
- 2% of funding on stage 7 is counted
- 1% of funding on ranges 8 and 9 is counted
For extra particulars on the unilevel staff construction see “referral commissions” beneath.
Referral Commissions
BitRobot pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel staff, with each personally recruited affiliate positioned immediately underneath them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel staff.
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.
BitRobot caps referral commissions at 9, primarily based on rank:
- Rookies earn 7% on stage 1 (personally recruited associates) and 4% on stage 2
- Leaders earn 7% on stage 1, 4% on stage 2 and three% on stage 3
- Managers earn 7% on stage 1, 4% on stage 2, 3% on stage 3 and a couple of% on stage 4
- Vice Administrators earn 7% on stage 1, 4% on stage 2, 3% on stage 3 and a couple of% on ranges 4 and 5
- Administrators earn 7% on stage 1, 4% on stage 2, 3% on stage 3, 2% on ranges 4 and 5 and 1% on stage 6
- Vice Presidents earn 7% on stage 1, 4% on stage 2, 3% on stage 3, 2% on ranges 4 and 5, 1% on stage 6 and 0.5% on stage 7
- Chairmans earn 7% on stage 1, 4% on stage 2, 3% on stage 3, 2% on ranges 4 and 5, 1% on stage 6 and 0.5% on ranges 7 and eight
- Platinum and Diamond Chairmans earn 7% on stage 1, 4% on stage 2, 3% on stage 3, 2% on ranges 4 and 5, 1% on stage 6, 0.5% on ranges 7 and eight and a couple of.5% on stage 9
Rank Achievement Bonus
BitRobot rewards associates for qualifying at Chief and better with the next one-time money bonuses:
- qualify at Rookie and obtain $75
- qualify at Supervisor and obtain $250
- qualify at Vice Director and obtain $750
- qualify at Director and obtain $2000
- qualify at Vice President and obtain $10,000
- qualify at Chairman and obtain $20,000
- qualify at Platinum Chairman and obtain $50,000
- qualify at Diamond Chairman and obtain $150,000
Becoming a member of BitRobot
BitRobot affiliate membership is free.
Full participation within the hooked up revenue alternative nevertheless requires funding in USD or cryptocurrency (as detailed within the compensation part above).
Conclusion
BitRobot claims to generate ROI income by way of “automated buying and selling”.
No proof of buying and selling exercise happening is supplied, neither is there any proof of exterior income getting used to pay returns.
Moreover, BitRobot’s enterprise mannequin fails the Ponzi logic check.
Regardless of not current till a couple of months in the past, BitRobot states on their web site that
during the last 4 years, we have now averaged 28.7% on a month-to-month foundation.
4 years is forty-eight months, which compounded at 28.7% every month turns any capital quantity right into a fortune.
So why do BitRobot’s homeowners want your cash for?
Because it stands the one verifiable income coming into BitRobot is new funding.
Utilizing new funding to pay current associates marketed returns makes BitRobot a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve BitRobot of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that after they collapse, the vast majority of contributors lose cash.
Replace eleventh January 2021 – As of late December 2020, BitRobot has collapsed.