BitPayProfits is really making a buzz on the internet no doubt, and its members or affiliates are pitching it left, right and center to whoever they can. The social media is basically where you will find a lot of people that are promoting it.
Nevertheless, I wish to let you know that I am not an affiliate of BitPayProfit neither do I promote it in any form. So, my review of this scheme is going to be objective and free from bias. I really do hope that the information you are about to find on this post will help you make a wise and informed decision.
Let’s start with what BitPayProfits is all about, shall we?
What is BitPayProfits?
Just so you know there are a lot of schemes similar to BitPayProfits that are popping up here and there and it seems this is the trend now. It is becoming scary because of the alarming rate of these schemes and I have to be reviewing them every time I can.
As for BitPayProfits, I found it like I found most of its kind with no background information as to who runs or manages it and I am seeing that as a red flag because if you are offering services or products to people, the least you can do is to introduce yourself. Let whoever that is interested in what you have to offer to know that you are real and that you can relate to them. It is assuring when I get to know who I am doing business with, don’t you thinks so?
But that is not the case with BitPayProfits though and so I had to find a way aside from the website to get more information. I looked up the domain registration and found out that it was registered on the 1st of February 2017, with Hawaii, United States of America as its address and Byron McCorriston as the owner.
Upon further research on Byron McCorrison, I discovered that he is not new in this type of scheme because he had been promoting Ponzi scheme called Billion Coin. He also got involved with Easy 1Up also and an affiliate for TVC Matrix. So, these tell us that the man behind the BitPayProfits is not new in the Ponzi scheme.
Jonny Ganoza (founder of Hustle With Us) who is also a man of Ponzi scheme kind of popped up on the scene when he said on Facebook recently that BitPayProfits is up for sale and I am not really sure if Byron McCorrison is still the owner.
BitPayProfits has no product line except that which is common with schemes of its kind which is to invest in the company and recruit others in order to make commission or earn ROI. Lack of product is yet another discredit for the company and one must be very careful when dealing with it.
BitsPayProfits Compensation Plan
BitsPayProfits uses a 2×2 matrix system for their compensation plan where members or affiliates are expected to invest in any of the 5-tiered 2×2 matrix systems before having access to it. Investing in any of the levels requires about $65 to $1000.
When you pay the amount required to unlock the level you chose, the fee goes to another affiliate in the BitPayProfits while you wait to receive yours in this manner illustrated below.
- Phase 1, level 1, affiliates must fill 2 positions for $45 each for a total payout of $90
- Phase 1, level 2, costs $45 to unlock- It has 4 positions for $45 each which equals to $180 payout
- Phase 2, level 1, costs $100 to unlock- It has 2 positions for $100 each which equals to $200 payout
- Phase 2, level 2, costs $100 to unlock – it has 4 positions for $100 each which equals to $400 payout
- Phase 3, level 1, costs $200 to unlock- it has 2 positions for $200 each which equals to $400 payout.
- Phase 3, level 2, costs $200 to unlock- it has 4 positions for $200 each which equals to $800 payout
- Phase 4, level 1, costs $400 to unlock- it has 2 positions for $400 each which equals to $800 payout.
- Phase 4, level 2, costs $400 to unlock- it has 4 positions for $400 each which equals to $1600 payout
- Phase 5, level 1, costs $1000 to unlock- it has 2 positions for $1000 each which equals to $2000 payout
- Phase 5, level 2, costs $1000 to unlock- it has 4 positions for $1000 each which equals to $4000 payout
Like I earlier mentioned, members can also earn about $10 commission for any direct or personal recruitment to BitPayProfits.
Cost of Signing Up BitPayProfit
A total of $65 is going to be required of you in order to become an affiliate member of BitPayProfit. $45 for phase 1, level 1 membership, $10 for recruitment commission and another $10 for admin fee making the total of $65.
But all transactions are being done by Bitcoin though.
Is BitPayProfit a Pure Scam or Legit?
Some may be arguing that BitPayProfit offers Royalty-free music which makes it its product. The thing is that Royalty-free products are free to use but you can’t sell it. Therefore, that is just a cover-up to make the scheme look as if they offer any sort of product but in the real sense, what is going on is affiliates paying affiliates which make it a cash gifting scheme.
So, this type of scheme has loopholes for manipulations by the admin or the owner. At the end of the day, who benefits from the scheme is still the owner/admin and may be people that signed up early enough. So, is it a scam? Well, some might say yes while some might say no, but I don’t see any reason why this scheme is legitimate though. Now, you can reason yourself.
I will not recommend this scheme to anyone because it is not reliable. I have already taken the time to explain what BitPayProfits might be, now if you are willing to try something that is 100% legit, something that would require your time, work and patience but it will eventually pay off then click right here to join Wealthy Affiliate University, where you will learn not just how to make money online but how to do so professionally.
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