As per the website of the company, BitEstate claims to be engaged in real estate business and bitcoin investing. However, the website goes blank when trying to find the names associated with it. There is no information provided about the founders of the company or any lead about who runs the business.
The domain (bitestate.biz) of the company was registered privately on 7th November 2017. So, the WHOIS result was not able to fetch the name of the owner of the domain. What all I could find from the website was the name of the country from where these guys operate. It is mentioned that the company is in London, UK.
But, my research suggests that the location is not true. The proofs signal that the company is operating from Russia or Ukraine. I went on to check the Alexa estimation and found out that most of the traffic comes from Russia. In addition, the website offers Russian as the alternative language on their website.
The company is also active on social networking site, VKontakte which has Russian contents.
As per the evidences, I can only vouch for their affiliate program as the only service offered by the company. There is no other product or service that can be retailed apart from the affiliate program.
Although one can join the affiliate program for free, but that would entitle one for the referral commission only. Other perks will not be accessible. To enjoy the entire benefit offered on their website, one must invest a minimum of 0.001 BTC.
BitEstate claims seem flimsy as of this point and the ignorance to keep its investors in loop makes it even more risky investment. An MLM company that is not transparent, should not be given the benefit of doubt.
BitEstate – Compensation Plan
The investors are encouraged to invest bitcoins for earning the ROI advertised on the company’s website.
- Singapore Tanglin Plan: You must invest 0.001 – 1 BTC for receiving up to 176% over a period of 32 days
- Dubai Marina Plan: You must invest 0.01 – 1.5 BTC for receiving up to 145% over a period of 10 days
- Miami Beach Plan: You must invest 0.05 – 2 BTC for receiving up to 240% over a period of 20 days
BitEstate – Referral Commission
BitEstate uses uni-level compensation structure to pay referral commission to its affiliates. In a uni-level structure, an affiliate is placed on the top level. Personally recruited affiliates are placed directly under the affiliate who recruited them.
For example, the affiliates who are recruited by the top affiliate are placed on level 1. Those who are recruited by the level 1 affiliates are placed on level 2 and so on. This continues for an infinite level.
The percentage of funds invested by the new affiliates are used to pay the referral commission to the existing affiliates. The referral commission is paid till 2nd level of recruitment.
- Level 1: 9%
- Level 2: 3%
The company also has the appraisal plan. If an affiliate invests 0.01 BTC and has a minimum of 10 affiliates under him, the referral commission is raised as follow:
- Level 1: 12%
- Level 2: 6%
BitEstate – Reviews
Jane: This program is a scam. I tried to add the bitcoins to the platform but was kicked back many times. However, the funds were deducted. I tried to contact them but no luck.
Adela: No clue if this will work. Will start the investment and see if anything comes back. It’s a gamble, isn’t it.
The Conclusion from the above Reviews
The reviews are not satisfactory, and users are not sure about the program. It has been quite a few months, but the company is not able to show much popularity among the investors and the new affiliates.
There are not many followers on the social media account which is again a red flag.
Whatever the company claims have got no grounds. Either it’s the location of the company or the services or products it offers. There is no evidence provided to back the claim that it is involved in real estate business or the short-term bitcoin investments.
In addition, if the company was already making more than 200% ROI in 20 days, why is it trying to solicit funds from the randoms.
As per the evidences, the only way to generate revenue is through the affiliate program. The money put in by the new affiliates are used to pay the existing ones. So, this makes this whole program, a Ponzi Scheme.
The ROI will continue as long as the recruitment will follow. Once, the recruitment stops, the ROI will stop as well. The anonymous admins will run away with the left amount.
Few investors will be able to make some money, but the majority of the investors will lose their invested amount in the hands of these scammers.