Bitwabi operates within the cryptocurrency MLM area of interest. The corporate is headed up by CEO Oscar Costa.
Costa, full title Oscar Costa Revienta Cerebros, is predicated out of Granada, Spain.
Previous to working Bitwabi, Costa (proper) was working an pet kennel and animal shelter.
Probably because of language boundaries, I wasn’t capable of confirm whether or not Costa has an MLM historical past.
Replace twenty sixth August 2020 – Following a tipoff from a reader beneath within the feedback, I used to be capable of verify that previous to Bitwabi, Oscar Costa was selling the ArbiStar Ponzi scheme.
Since leaving ArbiStar, Costa has all however scrubbed proof of his involvement throughout the web. /finish replace
Learn on for a full overview of Bitwabi’s MLM alternative.
Bitwabi’s Merchandise
Bitwabi has no retailable services or products, with associates solely capable of market Bitwabi affiliate membership itself.
Bitwabi’s Compensation Plan
Bitwabi associates make investments funds on the promise of marketed annual returns:
- Bronze – make investments €250 EUR and obtain €83 EUR a month for 12 months
- Silver – make investments €500 EUR and obtain €166 EUR a month for 12 months
- Gold – make investments €1250 EUR and obtain €416 EUR a month for 12 months
- Diamond – make investments €3000 EUR and obtain €1000 EUR a month for 12 months
- Premium – make investments €6000 EUR and obtain €2000 EUR a month for 12 months
- Premium Plus – make investments €12,000 EUR and obtain €4000 EUR a month for 12 months
Referral Commissions
Bitwabi pays referral commissions utilizing a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel workforce, with each personally recruited affiliate positioned straight underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.
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.
Bitwabi caps payable unilevel workforce ranges at ten.
Referral commissions are paid out as a share of funds invested throughout these ten ranges as follows:
- degree 1 (personally recruited associates) – 30%
- ranges 2 to 10 – 2%
Observe that to unlock commissions throughout ranges 6 to 10 of the unilevel workforce, a Bitwabi affiliate should personally recruit associates who collectively make investments €50,000 EUR.
Management Bonus
When a Bitwabi affiliate generates €150,000 EUR in funding quantity by personally recruited associates, they obtain €15,000 EUR value of bitcoin.
The Management Bonus is certified every time €150,000 EUR is generated.
As a bonus, the primary time the Management Bonus is certified for, a Bitwabi affiliate receives a 15-day journey for 2 to the Dominican Republic.
World Bonus
Bitwabi associates are designated VIPs after they
- qualify for residual commissions throughout all ten ranges of their unilevel workforce;
- qualify twice for the Management Bonus; and
- generate €5 million EUR in funding quantity throughout the primary ten ranges of their unilevel workforce.
Bitwabi units apart 5% of company-wide funding quantity and divides it amongst VIP associates every month.
Becoming a member of Bitwabi
Bitwabi affiliate membership is free.
Full participation within the connected revenue alternative nonetheless requires a minimal €250 EUR funding.
Funds inside Bitwabi seem like in bitcoin.
Conclusion
Bitwabi markets itself as “a cryptocurrency platform created to supply every kind of companies associated to the crypto house.”
The corporate represents it generates exterior income through buying and selling.
We’ve a singular product, as our strategies and our workforce are distinctive.
The buying and selling software shall be strictly managed by professionals accompanied by an automated radar of alerts, which shall be filtered manually to make sure their effectiveness by our workers who can even be accountable for guaranteeing threat administration that reduces our potential losses to the minimal potential, reaching thus, that the ultimate steadiness is ALWAYS constructive on the finish of every accounting.
Guaranteeing no losses ever in any authentic buying and selling is after all baloney.
Moreover Bitwabi’s enterprise mannequin fails the Ponzi logic take a look at.
Bitwabi’s Premium Plus funding plan pays a €48,000 annual return off an preliminary €12,000 funding (400%).
If Oscar Costa had entry to buying and selling that paid 400% yearly, why would he share that for as little as €250 EUR?
Costa clearly has a love of animals, so why not do the buying and selling and inject the funds into his animal shelter?
The reply is after all as a result of there is no such thing as a buying and selling.
Bitwabi supplies no proof of buying and selling going down, or exterior income of any variety getting used to pay marketed returns.
On the regulatory entrance, neither Bitwabi or Costa are registered with Spain’s CNMV. Because of this at a minimal, Bitwabi is committing securities fraud.
Because it stands the one verifiable income getting into Bitwabi is new funding.
Utilizing new funding to pay associates 400% annual returns makes Bitwabi a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment slows down so too will new funding.
This may starve Bitwabi of ROI income, finally prompting a collapse.
The mathematics behind Ponzi schemes ensures that after they collapse, nearly all of individuals lose cash.