CryptoBitX is a rehashed version of an old crypto scheme. Its domain, CryptoBitX.com, does not provide any information about the owner of the company. It describes itself as a multi-purpose crypto company that provides the services of crypto trading and mining. This article will you all you need to know about this company and whether you should invest in it.
CryptoBitX claims to be using a modern crypto trading software that will ensure maximum profits for its members. Moreover, the company is promising you a significant amount of passive income. CrypoBitX.com does not provide any information about the owner of this business. Similarly, the about us section of the website is completely blank.
CryptoBitX.com was registered in December 2016. Moreover, the domain lists Dubai as its official address. However, there is no address listed on the company’s website. The domain is registered under the name of Faisal Kamal.
CryptoBitX tries its best to hide the name of the
However, the registration of the company shows that the Faisal Kamal of Dubai Petroleum is the owner of the domain. It is important to note that Kamal was also the owner of another Bitcoin company called FastBTC. It collapsed within a few months of its launch because it was a pyramid scheme and could not function once its recruitment stopped.
The business model of FastBTC revolved around affiliate memberships and a 2×3 gifting matrix. It is assumed that the collapse of FastBTC led to the establishment of CryptoBitX. Now we will discuss the compensation structure and business model of this new crypto scheme which is quite similar to FastBTC.
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CryptoBitX.com analysis from Alexa shows that the domain is not popular at all. In fact, there is not much data available about the domain. It is not surprising because the website is very poorly designed. Most of the pages do not even have a single line of information. It is highly disappointing to see that CryptoBitX is claiming to be a major player in the crypto industry and using modern software while its own website is not even decently developed.
Only the home page of CryptoBitX is properly working which lists some of the features of this company. Moreover, it asks for investment to become an affiliate of this platform.
CryptoBitX.com does not offer any retail products and services. The only way to earn any sort of money from this organization is by purchasing its affiliate membership. Compares to many other crypto companies, CryptoBitX is quite expensive. You must gift at least 0.0015 BTC to the affiliate who hired you. Moreover, you have to invest approximately 9.227 BTC to avail of income opportunities from this company.
CryptoBitX.com is promoting the company as a modern and efficient solution to all types of crypto issues. It mentions the following features:
Even though the company is promoting a wide list of features as some kind of revolution in the crypto industry, you should remember that there is no proof that it can actually deliver these functions. You should not invest in CryptoBitX.com because its entire business model is quite suspicious. Instead, you can use the trustable crypto trading bots that offer customer support and modern strategies to earn maximum profits via crypto trading.
CryptoBitX is following a traditional 2×7 matrix compensation structure. An affiliate is at the top of a matrix while two positions are directly under them. As an affiliate, you can recruit the members directly or indirectly, The first level of the compensation matrix has two positions while the second level has a total of four positions due to splitting.
Similarly, the positions are split into the next levels of the matrix. In totality, the matrix has seven levels and each level has twice as many positions as the former level. The website also states that every level of the CryptoBitX matrix is operating as an independent cash gifting scheme.
The process of earning profits from CryptoBitX.com starts by gifting 0.00015 BTC to the affiliate who recruited you. Moreover, you must invest about 9.2 BTC in the company to earn profits. The company encourages its members to buy multiple positions to generate maximum profits.
You can also invest more BTC in the company to start from a higher level of the compensation matrix. On higher the levels, the amount of gifting BTC and payment is greater than the previous level. CryptoBitX.com gives the following payment structure on its website:
Despite the fact that the company has a very comprehensive income structure, the overall business model remains unimpressive. As discussed, the entire CryptoBitX.com website is very poorly designed. It is clearly designed to only get investment from the members while providing very less detail about the company’s founder and origin.
Before making conclusions about CryptoBitX, it is important to reiterate the fact that it is the second version of an already failed crypto scheme, FastBTC. The owner of the company, Faisal Kamal, is clearly trying to make a comeback with this crypto scheme.
However, the business model of CryptoBitX.com is identical to FastBTC. It means that this company can also collapse soon due to lack of investment. In the end, the owner and manager of the company will benefit a lot from your investment, while the affiliates will have to suffer financial losses.
Therefore, you should avoid investing in CryptoBitX because it is not a reliable source of income in the crypto industry. Instead, you should use the crypto trading bots that allow you to earn maximum profits because they are reliable, efficient, and easy-to-use.
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