BitWaves, another cryptocurrency mining company that claims to provide high hourly and daily ROIs, is very likely to following the Ponzi Scheme. The website of the company does not provide any information about the owners of BitWave. The website provides the details of Morgan Stevenson as its sole director with company’s registration in UK. The address provided for Morgan Stevenson is of Bedfordshire, England.
However, we were not able to locate Morgan Stevenson outside of the company documents which is suspicious and presence of Morgan Stevenson in real world is also dicey.
Another fact that UK registration is cheap, attracts a lot of scammers. Hence, there is a lot of doubt about the company’s existence and operation.
Although, the company claims to be indulged in Forex trading and Cryptocurrency mining, but the only product that is available for users is the affiliate recruitment program.
The Compensation plan of BitWaves
BitWaves promises huge ROIs in exchange of real money. As of now, there are two plans active in the company.
- Starter Plan – You need to invest $25 or more to receive 4% of daily ROI which continues for 40 days
- Perfect Plan – You need to invest $200 or more to receive 0.3% of hourly ROI which continues for 450 hours.
Referral Commission of BitWaves
The company follows the unilevel referral plan and pays till three levels of recruitment.
- Level 1 – 6%
- Level 2 – 2%
- Level 3 – 1%
The affiliates are welcome to join the company for free. However, this will only give them access to the referral commission. If an affiliate wants to enjoy the full participation, he need to invest atleast $25.
BitWaves Reviews around the World
Luke: I am happy to join Bitwaves. My profit doubled in few hours. What can I expect more?
Suzan: I invested $500 and made huge returns in couple of hours. It was unbelievable. I never knew that a company can provide such a huge income in such brief time.
Comparisons of the above reviews
BitWaves, as stated above, does not provide proof of any trading and depends solely on the affiliate recruitment. It is no surprise that users are making profit, because the affiliates are being recruited. But, whenever, there will be decline in the number of recruitment, and the time will come for sure, the investors will be left on their own with huge losses.
BitWaves claims that maximum of profit that is returned back to the affiliates, comes from Forex trading and cryptocurrency trading. However, there is no proof provided by the company for the same. Which leaves us with only one product that is affiliate marketing.
The funds invested by the new affiliates are paid back to the old ones. This makes this scheme a Ponzi Scheme.
Whenever, the recruitment will narrow, the ROIs will stop rolling in, leaving the investors out of money. Some can reap the benefit, if start early, others will reach the saturation point and will lose money.