BitXUp offers no data on its web site about who owns or runs the enterprise.
The BitXUp web site area (“bitxup.com”) was registered on February 1st, 2019.
Mohammed Shoaib (proper), who additionally goes by Muhammed, is listed because the BitXUp area proprietor via an tackle in Karachi, Pakistan.
So far as I can inform, BitXUp is Shoaib’s first MLM launch.
Learn on for a full overview of the BitXUp MLM alternative.
BitXUp Merchandise
BitXUp has no retailable services or products, with associates solely in a position to market BitXUp affiliate membership itself.
BitXUp affiliate membership offers entry to a “BitxPix Digital Advertising and marketing Package”.
BitxPix Digital Advertising and marketing Package is marketed as “a model new unique high quality video & graphic advertising equipment for ANY advertising you NEEDS” [sic].
The BitXUp Compensation Plan
BitXUp associates join and present 0.01 BTC to an current affiliate.
This in flip qualifies them to obtain 0.01 BTC gifting funds from subsequently recruited associates.
Gifting funds inside BitXUp are tracked by way of a 1-up compensation construction.
A 1-up compensation construction is tracked via a unilevel workforce.
That’s BitXUp associates you personally recruit are positioned straight underneath you.
Any associates your private recruits recruit are positioned in your stage 2 and so forth and so forth.
The BitXUp affiliate you recruit items 0.01 BTC on to you. The second affiliate you recruit is “handed up” and items 0.01 BTC to the affiliate who recruited you.
You retain 0.005 BTC gifting funds from the third affiliate recruited onward.
In flip, each affiliate you recruit should additionally move up their second recruited affiliate 0.01 BTC gifting cost to you.
By means of the unilevel workforce, this pass-up continues down a theoretical infinity variety of ranges.
The remaining 0.005 BTC from the third personally recruited affiliate gifting cost is break up 5 ranges upline via the unilevel workforce.
That equates to
- 0.001 BTC to the affiliate who recruited you
- 0.001 BTC to their upline (second stage upline)
- 0.001 BTC to their upline (third stage upline)
- 0.001 BTC to their upline (fourth stage upline) and
- 0.001 BTC to their upline (fifth stage upline)
Funds to you in flip come from the primary 5 ranges of your unilevel workforce.
For every third and subsequent affiliate recruited by BitXUp associates within the first 5 ranges of your unilevel workforce, you’ll obtain a 0.001 BTC break up gifting cost.
Be aware that any BitXUp withdrawals entice a 0.0004 BTC price.
Becoming a member of BitXUp
BitXUp affiliate membership is tied to a 0.01 BTC gifting cost plus 0.0025 BTC gifting price.
Be aware that each one funds inside BitXUp (each paid and obtained) are made in bitcoin.
Conclusion
BitXUp is a straight-forward gifting scheme.
You join, present funds to an current BitXUp affiliate and pending ongoing recruitment of recent BitXUp associates, obtain gifting funds from them.
Naturally endless recruit is unsustainable, leading to a loss for almost all of BitXUp associates when it inevitably collapses.
As with all gifting scheme, many of the cash is paid to the admin and early adopters.
Along with admin charges collected, Mohammed Shoaib will obtain nearly all of funds via a number of preloaded admin positions.
Just a few early BitXUp adopters will obtain what’s left, with the remainder of the affiliate-base in the end shedding out.
Q: Are there any refunds?
A: NO.
The rip-off cherry on prime is BitXUp’s use of bitcoin, which on collapse renders sufferer fund restoration nigh on inconceivable.