BitGlare was started in October 2016 as per their claims on the website. The experts are involved in volatility trading software. However, when I checked the registration information of the domain (bitglare.com), I discovered that it was registered on 30th November 2017. The registration is made private, so, I was not able to recover the identity of the owner of the domain.
The website too, does not provide any lead about the founders of the company. I also tried to confirm their claim about the trading software, however, I stuck at the dead end. Hence, the only verifiable source of ROI available is the affiliate recruitment program.
If you wish to join the referral program, you can start it free. However, to enjoy the full participation into the lending benefits and other compensation structure, you need to spend a minimum of $100.
Considering all the given pointers, I believe that it would not be wise to trust a company that is not transparent about its existence and the names of the owners, especially if it is an MLM company with no product apart from the affiliate recruitment program.
BitGlare – Compensation Plan
BitGlare’s anonymous owners sell the BCG points for 0.20 dollars and 1.50 dollars. These points are then lent back to the platform for receiving the guaranteed ROI advertised by the company.
- Plan 1: You need to invest $100 – $1000 for receiving ROI as well as 0.05% bonus daily for 149 days
- Plan 2: You need to invest $1010 – $5000 for receiving ROI as well as 0.1% bonus daily for 129 days
- Plan 3: You need to invest $5010 – $10,000 for receiving ROI as well as 0.2% bonus daily for 109 days
- Plan 4: You need to invest $10,010 – $50,000 for receiving ROI as well as 0.3% bonus daily for 89 days
- Plan 5: You need to invest $50,010 – $100,00 for receiving ROI as well as 0.4% bonus daily for 69 days
- Plan 6: You need to invest $100,010 or more for receiving ROI as well as 0.5% bonus daily for 49 days
BitGlare – Referral Commission
BitGlare uses the unilevel compensation structure to pay ROI to its affiliates. In this structure, an affiliate is placed on the top order. Any new affiliate who is recruited by the top affiliate is placed on level 1. The affiliates who are recruited by the level 1 affiliates are placed directly under them at level 2 and so on. It continues to infinite levels.
BitGlare offers two ROIs, one on the initial investment and the other on the lending investment.
ROI – Initial Investment
The cap is put on the 3rd level for ROI on the initial investment.
- Level 1: 10%
- Level 2: 4%
- Level 3: 2%
ROI – Lending Investment
When the affiliates who are recruited down the level, the top affiliate is paid an ROI for next 10 levels.
- Level 1: 10%
- Level 2: 3%
- Level 3: 1%
- Level 4: 0.8%
- Level 5: 0.6%
- Level 6: 0.3%
- Level 7: 0.2%
- Level 8: 0.1%
- Level 9: 0.07%
- Level 10: 0.04%
BitGlare has also proposed ‘BitGlare Gold’ which seems to be points within the points. The affiliates who invest $100 becomes eligible for the special interest rate which is the ROI paid for 20 days in February 2018.
Zainab Butt – 1 star
ON 27TH DEC PRE SALE BITGLARE OFFER PRICE WAS 0.20 USD AND THEY CHARGE ME 5 USD FOR 1 COIN , I BUY 20 AND LATER I SAW 99 USD FROM MY BTC ARE GONE TOTALLY SCAM . THINK B4 INVEST
August Ely Hernani – 1 star
Just one question.. can you show us details of the team? the founder and all involve and BITGLARE? many of us are planning to join here but some issues need to correct lack of information same time many negative feedback for some that already invested they say .20 usd then 5 usd? oh my…wew …i’ll make it 5 star if they show details and faces of persons behind this…lol
Victor Ladden Thompsons – 4 star
But am afraid my btc was supposed to get me 170 tokens @ $0.20/coin, but all I got was 80 coins and next thing, I got warned of “insufficient funds”. Admin hope you can fix this??? But in other words, it went smoothly, and encouraging too. Keep it up People.
Conclusion from the above reviews
The reviews assert that BitGlare had some issues with the coin allotment. It also raises the point of wrongly increasing the cost of the coins. A secure platform will never have these issues. They will fix these problems for some, to establish trust. But, once the investment would increase, they will stop catering to the problems of the affiliates.
Hence, it is advisable to stay away from such fake companies.
BitGlare claims to have a software bot capable of generating enough ROI to meet the daily requirement. It also approves that the software has achieved a lot of success. If that is true, where is the proof for such claim.
Also, if the bot is able to generate such huge ROI and if BitGlare owns all of it, why it wants to share it with random uses over net. The registration date also talks about their false claims about the company existence since October 2016.
With all these red flags, it becomes evident that BitGlare’s intention is not about sharing the profit, but it wants to take it all.
Affiliate recruitment program being the only verifiable source to back ROI, makes BitGlare, a Ponzi Scheme. As soon as the recruitment would run away, and the company will reach its threshold fund, it will stop paying ROIs. The website would be shut down and the anonymous owners will take bay.
It would be difficult to track them down and majority of the affiliates would be left out of money. There is no way, one would like to be a part of such schemes, until and unless, they are unware of the real game.