BitXUp is a plain gifting scheme. The company website like many other such programs have not mentioned the names of the owners of the company. However, a check into the domain registration details, reveals the name of the owner of the domain.
The domain (bitxup.com) of the company was registered on 1st February 2019 and the registration is done on the name of Mohammed Shoaib with his address from Karanchi, Pakistan. I further tried to find more information about his previous projects. However, it seems that this is the first MLM project of Mohammed.
The company has no products or services which can be retailed and the members are only given access to market their affiliate program. The affiliate membership, however, provides the access to the BitxPix Digital Marketing Kit”. This kit is marketed as the collection of exotic brand new marketing videos for all the marketing needs.
The company only accepts bitcoin payments for its affiliate membership program. If you wish to purchase the membership, you must pay 0.01 BTC gifting payment plus 0.0025 BTC gifting fee.
I believe that an MLM company should be very clear about the prospects and its goals. A company offering limited information to its affiliates and investors can never be trusted and same is the case with BitXUp. Check the BitXUp’s review and decide on your own.
BitXUp – The Compensation Plan
To sign up for the program, the affiliate must gift 0.01 BTC to an already existing affiliate which in turn makes them eligible to earn the same gift from the other new affiliates recruited subsequently in the program.
The company uses 1-up compensation structure to pay the gifting payments to its members. This payment structure is tracked via uni-level compensation structure. In a uni-level structure, the affiliates recruited personally are placed directly under the one who recruited them.
For example, an affiliate is placed on the top and the ones recruited by him is placed on level 1. Any affiliate recruited by the 1 level‘s affiliate are placed on level 2 and so on.
The affiliate you recruit earns you a gift of 0.01 BTC and the one recruited by your direct recruit earns the gift for the one who recruited you. The affiliates who are recruited after the second level gets you 0.005 BTC. The remaining amount invested by the third level affiliate is distributed five levels up link as follow:
- Plan 1: 0.001 BTC is paid to the affiliate who recruited you
- Plan 2: 0.001 BTC is passed to their upline who are the second level upline
- Plan 3: 0.001 BTC is passed to their upline who are your third level upline
- Plan 4: 0.001 BTC is passed to their upline who are your fourth level upline
- Plan 5: 0.001 BTC is passed to their upline who are your fifth level upline
Also, BitXUp has a withdrawal fee of 0.0004 BTC on every transaction you make.
BitXUp – Reviews
Shawn T: I hate to say that I was fooled by these guys. The program sucks. It is difficult to reach anyone for help.
David: It is better if you throw your money in the bin. At least you not have to wait for returns and sulk. Why don’t these guys are stopped before they start scamming people.
The Conclusion from the above Reviews
BitXUp is a company started by someone with no prior experience in the MLM niche, at least that is what we know till date. The company offers nothing to its investors apart from the sharable gifting funds. The investors have to wait for long to realize some sufficient amount to withdraw. All these things make BitXUp not a very wise investment option.
The Verdict
BitXUp remains the usual gifting scheme with each affiliate required to gift to the program for receiving gifts from the other affiliates. This is a never ending circle only when the recruitment carries on for an indefinite time. However, carrying on with the recruitment for a long time is not at all sustainable.
Once the recruitment will dry, most of the affiliates will lose the money. There is no refund option. Once you have invested, there is no way to take out the invested funds. Only the admins and few of the top affiliates will be able to make some profit.
Hence, it is advisable not to be fooled by the easy and effective ways demonstrated by the company for becoming rich. Why not invest in something with a guaranteed return or at least into something that seems legitimate.