What Is BitPlam?
There are several methods for you to earn additional money online, and one of the most popular is to join a company that provides passive income opportunities for you.
In this case, it’s usually MLM organizations in the health and wellness or crypto niches that promise these sorts of things for their prospective members. But with so many various opportunities presenting themselves and promising to provide passive income, I’ve only come across a few that are actually legitimate.
With that said, let’s take a look at another crypto MLM company that offers to provide passive income to interested people by promising 5% on daily ROIs. This is BitPlam.
But how exactly do they function? What services do they provide? What are your options for making money with them? Is it a reputable firm in which you may put your money? Let’s see what we can find out!
The fact that you’ve taken a moment to scrutinize this product before signing up should be applauded. You’ve done yourself a huge favor. Your due diligence will save you from potentially wasting your time and money.
A good bit of research always goes a long way in the fight against online scams. Creating a sustainable full-time online business is not difficult. You just need to know where to look.
Before we proceed I’d like to let you know that I’m not linked to BitPlam in any sort of way and I’m not trying to sell you this product.
Instead, I’d like to show you why this program should be avoided…
BitPlam Product Review
- Name of Product: BitPlam
- Owner: Not specified.
- Type of Product: Crypto Ponzi Scheme
- Cost of Product: Requires a minimum investment of $25
- Who Is This Product Best For? No one!
BitPlam Product Summary
To cut to the chase, BitPlam is a cryptocurrency Ponzi scheme that actually does not offer any real opportunity for you to earn profit or passive income legitimately. It merely serves to deceive others into investing in the program so that the scammers behind these schemes are the only ones who profit from it.
You won’t get a single cent from your investment and their daily ROI claims are downright false. It’s preferable to avoid it entirely.
Product Rating: 0/100
Would I Recommend This Program: DEFINITELY NOT!
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BitPlam Background
On the surface, BitPlam appears to be an MLM program providing opportunities for you to earn money online. However, underneath that facade is actually an illegal Ponzi scheme that wants nothing more but to get you to sign up and invest so they can steal your money.
On their landing page, there’s no information regarding who owns the firm, let alone who operates it. This is a significant red flag in and of itself. After all, if their claims are legit, why hide the people running this scheme?
Their domain name was privately registered in August 2021, however, according to their Twitter profile, the program began in September 2021. Already, there is so much confusing and misleading information found within their own accounts and sites.
BitPlam has a UK incorporation certificate under the name Bit Plam LTD on their website to make themselves appear respectable. This is meaningless in the context of MLM due diligence. UK incorporations are easy to get because their regulations are pretty lax in regards to MLM companies.
In reality, a company’s operations are unaffected by a UK incorporation certificate. A UK incorporation certificate does not allow BitPlam to accept and carry out investments on behalf of its clients in this circumstance.
So in essence, what BitPlam is doing is illegal and you could face legal consequences if you participate in this program.
BitPlam Product Line
BitPlam does not sell any retail items or services to the general public. You’ll simply need to recruit individuals to participate in their income opportunities and have them invest in the same manner you did.
You’ll assemble a team around these individuals and profit from their investments. Then you’ll get paid commissions on other people your team has convinced to invest.
This is very much akin to a pyramid scheme which is also illegal. You can read about the FTC’s regulations regarding pyramid schemes here.
How Does BitPlam Work?
The first step is to identify an affiliate member who is advertising BitPlam and join through their link. The following step is to create a BitPlam account and the next stage is to decide on an investing strategy.
If you’re paying in USD, you’ll have two options: PerfectMoney and ePayCore. After the transaction is completed, the USD will be converted to bitcoin. If you want to join using cryptocurrency, you’ll have around 13 alternatives to pick from, including Bitcoin, Ethereum, and others.
Then, depending on the investment package you pick, you’ll transfer the funds to BitPlam. Then you simply wait for the transaction to complete and begin profiting from your investment on a daily basis.
Once you’ve made a profit, you’ll be able to withdraw it using the same payment methods you used to make it. Furthermore, you will receive a unique referral affiliate link in your back office if you want to recommend others to the Bit Plam opportunity (which you shouldn’t do, by the way).
You will get a percentage of their investment amount to either reinvest or withdraw for each person you suggest, including two additional layers of downline members. Now it is pretty clear that this is a pyramid scheme.
To put it shortly, their income opportunity is purely reliant on recruiting individuals, and there is no evidence that they are making money in any other way. There is no actual trading, or even investment, going on here.
The money you will be getting is paid by the new members you successfully recruit. This means that money ceases coming into the organization when people are no longer joining the company.
When the company’s finances run out, they’ll have no choice but to exit the entire scheme (or shut it down entirely) and relaunch it as another Ponzi scheme in the near future.
Getting Started with BitPlam
BitPlam only has one means to generate money, and that is via recruiting new members. Recruitment is carried out in order to create investments, which will be utilized to compensate members at the top of the pay scales.
Moreover, signing up for BitPlam’s membership is completely free, but in order to participate in the real income opportunity and begin earning, you must invest a minimum of $25 first.
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BitPlam Compensation Plan
Members of BitPlam can invest in USD or several cryptocurrencies depending on the company’s promised daily return of 4% to 5%. You may also choose between two packages, depending on how much money you want to invest.
- Lite – invest a minimum of $25 up to $4999 and earn 4% a day for 30 days (220% ROI).
- Plus – invest a minimum of $5000 up to $200,000 and earn 5% a day for 40 days (300% ROI)
Members who withdraw less than 14 days after investing are charged a 25% fee. Members who cancel 14 days after their plan ends but before it expires will be charged a 15% penalty.
Referral Commissions
For referral commissions, BitPlam uses a unilevel compensation plan. You are put at the top of this structure, and your direct or personal recruits are placed underneath you.
These members will be your level 1 recruits and your level 1 members become level 2 members when they recruit others. In principle, this can carry on indefinitely as long as they keep recruiting more and more people.
BitPlam has three tiers, and you receive a commission on each level’s investments:
- level 1 (personally recruited members) – 5%
- level 2 – 2%
- level 3 – 1%
BitPlam Ugly Truths Exposed!
#1 This Is A Ponzi Scheme!
BitPlam is a Ponzi scheme. Recruitment is the primary source of income here and nothing else. The scammers behind this program will exit the scheme, shut it down, and take your money once recruiting ceases or people stop joining this scam.
There is also no evidence that they are trading or investing in order to produce returns for their members. The only money that comes in is from new member investments, which are made through recruitment. The money invested by these new members is used to pay off the people on top of the compensation structure.
Advantages of BitPlam
None. I don’t see any advantages in joining BitPlam or any Ponzi scheme for the matter. These activities are illegal and you are better off staying away from them.
Is BitPlam a Scam or a Legit Program?
BitPlam is a scam. Worse, it’s a Ponzi scheme presenting itself as a legit opportunity to make money online.
In general, crypto Ponzi schemes are already a pain to deal with, mostly because they pop out frequently like mushrooms and look to be real, and are designed to lure in people who don’t know any better.
Cryptocurrency is already so confusing and complicated enough without these fraudulent activities attempting to defraud you. Still, a lot of people are enticed into these schemes and end up losing more money because of their ridiculous and impossibly high “promised ROI.”
Imagine making more than a hundred percent of your return on investment? This is way too good to be true and is most likely a scam. My suggestion? Avoid them like the plague!
With that said, it’s best to just avoid these kinds of scams entirely. If you are truly looking for a legit opportunity to make money online, here’s a better recommendation for you.
How Do I Use The Internet to Make a Full-Time Salary?
I’m not a big fan of get-rich-quick schemes, let’s just say that I’ve been caught short a few times.
Instead, an Amazon FBA Business is my leading recommendation for people that want to build a thriving full-time online business working from home.
Here are my reasons why…
- There’s no pressure to recruit family and friends, or anyone else for that matter.
- Learn a unique method to source incredible, high-profit, low-competition products that are virtually hidden from your competitors.
- You don’t need to sell hundreds of different products to create lucrative profits with this fresh, exciting business model.
An Amazon FBA business can help you to…
Generate a 5-7 Figure Salary and become financially free from the limitations of a traditional day job. You can do this in less than 12 months!
If you want to find out how I did it, Click Here!
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