Hello and welcome to my Bitsolives Review.
Is Bitsolives a scam?
This is one of the questions that we are going to check out with the details we uncover and give our final thoughts on whether or not we think it is legitimate.
We are also going to look into the important aspects in determining whether or not a company is a scam by researching the company and who is behind it, the compensation plan and how you get paid, and the products or service Bitsolives offers.
The reason why I took the time to write this review is that I started to see promotions landing in my inbox and on some social sites that I follow.
I was wondering what was leading people to promote it, and if in fact that if it was a program that I would get involved with and promote.
I decided to take the time to break down the various aspects of Bitsolives and see if it really can stand out from the crowd and the bad reputation that these types of programs have.
We will have to wait until the end to find out.
With that said, let’s take a look at what Bitsolives is, and what it offers in the first section of my review.
Bitsolives Review – What Is It?
Bitsolives deals in the cryptocurrency MLM business niche.
It is a program that is designed to help you make money online by referral marketing and an ROI scheme.
We go over more detail about how you make money with Bitsolives in the compensation plan section of this review.
The next section we will cover will be the company, and who is behind it all.
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Bitsolives Company & Owner Overview
Discovering the beginnings of how Bitsolives started and the company information overall was a bit of a task.
This is one of the things that I really don’t like seeing when researching company information.
I like to see transparency, when there is a lack of transparency, it throws up some red flags.
When I did some digging on the domain name (bitsolives.com) this is what I found:
- Registered on March 10th, 2018.
- Mohsin Jameel is listed as the CEO of Bitsolives.
When I did some research on Mohsin Jameel I’ve found some very interesting things from his past.
Apparently, he has a past that is not really good according to the India Tribune.
The Tribune India has a history of involvement in scams.
This was not an issue of him being an affiliate associated with a bad company, he was actually the CEO of a company that ran off with $1.5 billion worth of Indian Crore from investors.
The Punjab Police and Enforcement Directorate had to get involved when it was found that these operations were scamming people.
Mohsin Jameel has also been reported to be associated with an illegal Ponzi Scheme called Zuflo.
It is also reported that he is on the run from Indian authorities for crimes of fraud that he committed with some of the issues listed above but can’t be found.
All of this research that I’ve found really puts some significant marks against the Bitsolives opportunity and will reflect my final review.
The next section of my review will cover the products or service that Bitsolives offer.
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Bitsolives Products Review
Bitsolives doesn’t offer any products or services for retail, but if you join as a member or affiliate, then you can use their utilities that they offer.
The first is a smartphone app.
The app will have access to your Bitsolives account.
You will be able to sign-up new members, buy and sell the company offered “Buxcoin”, and also have access to support.
The company also has services that they call “utilities”.
The utilities consist of:
- BuxFlix – A utility to watch TV entertainment on any device that you can get the app on. (IOS and Play store)
- Shubhyatra Holidays – A utility to use to book hotels, rentals vehicles, and air.
- Crypto Wallet – A wallet to keep your Cryptocurrency in. (Buxcoin)
You will have to sign up as a member of Bitsolives in order to get access to these products/utilities and cannot be sold as retainable items to customers.
This is going to be a problem as far as compliance is concerned.
The next section of my review will cover the compensation plan and how you earn commissions.
The Bitsolives Compensation Plan
The Bitsolives compensation plan is structured in an MLM binary pay plan.
It also has a return on your investment rewards model to it as well that is powered by the company mining their Buxcoin cryptocurrency.
You can qualify to receive residuals commissions and bonus commissions through referral marketing.
Here is a breakdown of how the Bitsolives compensation plan works.
20 Day ROI Investment Commissions
Each investment opportunity the Bitsolives offer has a 20 day ROI.
The amount that you invest will vary the amount of return that you will receive.
The way that Bitsolives works is when you invest more, you will be rewarded with a higher return in the 20 days.
Bitsolives offers investment opportunities that range from €200 to €10,000.
Here is the breakdown of 20 day ROI that you will be rewarded with by Bitsolives:
- Silver Level – When you invest at the Silver Level of €200 EUR you will receive €320 EUR after the 20 days.
- Gold Level – When you invest at the Gold Level of €1000 EUR and receive €2000 EUR after 20 days.
- Platinum Level – When you invest at the Platinum Level of €5000 EUR and receive €12,000 EUR after the 20 days.
- Diamond Level – When you invest at the Diamond Level of €10,000 EUR and receive €30,000 EUR after the 20 days.
NOTE: It should be noted that all commissions will have a 3:1 ratio of Bitcoin/Buxcoin points.
This will be held for an entire 180 days by Bitsolives and returned to the investing affiliate with a 25% point bonus of 4:1 ratio.
This means that for every dollar make you will earn 4 Buxcoins.
You will have to refer others into Bitsolives to earn from the referral commissions aspect of the compensation plan which includes:
- Silver Level – For every referral that you sponsor into Bitsolive you will earn 6% of their investment.
- Gold Level – For every referral that you sponsor into Bitsolive you will earn 8% of their investment.
- Platinum Level – For every referral that you sponsor into Bitsolive you will earn 10% of their investment.
- Diamond Level – For every referral that you sponsor into Bitsolive you will earn 10% of their investment.
Bitsolives Residual Commissions
The residual commissions are paid through the compensation plan structure of Bitsolive which is designed in the binary MLM structure.
Binary MLM compensation plan structured have 2 legs, your right and left.
For the majority of binary pay plans, you will need to qualify to receive benefits from the residual payout by having at least 1 direct “active at all times” referral on your left leg, and one on your right leg.
Binaries have several ways to pay out that includes cycles per volume that each leg has which is predetermined per company, which also has hybrid or alternative creative ways the binary can trigger commissions.
Let me break down how the Bitsolive binary compensation plan works for you.
The commissions are paid off the “weaker leg” volume per week.
Sy that you have 100,000 in volume in one leg but the other only has 100 volume, you will get paid from the leg that has 100 volume.
So 100 will be multiplied by the level of percentage you are qualified at.
To qualify for a higher percentage, Bitsolives will award you a higher qualification by simply investing more.
The first part works on a limit and percentage payout of commissions that you can get earn through the binary commission plan.
These are the limits and payment percentage you will earn depending on what level you joined and invested at.
Here is a breakdown of the percentage and earning cap per level:
- Silver Level – When you invest at this level you are qualified to earn 6% from the weaker leg weekly and you will be capped at €5000 EUR per week.
- Gold Level – When you invest at this level you are qualified to earn 8% from the weaker leg weekly and you will be capped at €10,000 EUR per week
- Platinum Level – When you invest at this level you are qualified to earn 10% from the weaker leg weekly and you will be capped at €15,000 EUR per week
- Diamond Level – When you invest at this level you are qualified to earn 12% from the weaker leg weekly and you will be capped at €25,000 per week
I have found information that an additional level exists called “Super Diamond Level” but the company provides no further information about this level.
Matching Bonus Commissions
Matching bonus commissions are a natural aspect of all MLM compensation plan structures.
Bitsolives also offers this addition.
The way that it works is in a unilevel MLM compensation pay structure.
Unlilevels work in a way that all your personal referrals will be on level 1, the only way to have additional levels with a unilevel plan is when your referrals sponsor new people into the opportunity.
Here is a breakdown of how a unilevel works:
- 1st Level – The members on the 1st level are your personally referred members only.
- 2nd Level – These members joined your personally referred members from Level 1.
- 3rd Level – Level 3 members are referred by Level 2 members.
- 4th Level – Level 4 members are referred by Level 3 members.
- and so on…
Bitsolive provides a maximum of 7 levels deep for the matching bonus commissions.
The percent and levels deep of matching bonus commissions that you can earn will depend on the level that you joined and invested into Bitsolives.
Here is the breakdown of the earning that you can earn from this matching bonus per level you are qualified at:
- Silver Level – At this level, you can earn a 10% match on level 1 members which are your personally referred members.
- Gold Level – At this level, you can earn a 10% match from levels 1 to 3 members only.
- Platinum Level – At this level, you can earn a 10% match from levels 1 to 3 members and a 5% match between levels 4 and 5 members.
- Diamond Level – At this level, you can earn a 10% match from levels 1 to 3 members and a 5% match from levels 4 to 7 members.
This sums up how the Bitsolives compensation plan works and how much you can earn from it, let’s move on to the FAQ section of my review.
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Bitsolives FAQ Section
This is the section of my review where I cover various frequently asked questions that one would have about Bitsolives.
What Is The Cost To Join Bitsolives?
The cost to join Bitsolives is as follows:
- Silver Level – €200 EUR to join, and receive all the perks at the Silver Level.
- Gold Level – €1000 EUR to join, and receive all the perks at the Gold Level
- Platinum Level – €5000 EUR to join, and receive all the perks at the Platinum Level
- Diamond Level – €10,000 EUR to join, and receive all the perks at the Diamond Level
Like I explained in the compensation plan section above depending on the level you invest in will determine the level of earning that you can make from the payment plan.
Is Bitsolives Accredited With The BBB?
No, Bitsolives is not accredited with the Better Business Bureau.
Additionally, I don’t see it ever be listed on the BBB site, at least with not a good rating, these types of ROI investment opportunities are known to be frowned upon with regulators around the world.
Is Bitsolives a Scam?
As of right now, no Bitsolives is not a scam since as of right now the program is paying out commissions for what they offer.
Now, with that said, I consider it a textbook Ponzi Scheme.
There are no retail products for sale for customers and only can get access to what they call their “Utilities” as an affiliate member.
You cannot join for anything less than the amounts listed in the cost to join section above.
Verdict on Bitsolives
Through the research, I’ve done the driving force for this opportunity seems to be Buxcoin.
The sales pitch continues to sell Buxoin as the fastest transaction and pain-free experience compared to everything else.
When you look into the Buxcoin, it actually was set up by Mohsin Jameel himself and is not publicly traded.
This is the main driving force for Bitsolives.
Is there something fishy going on here?
Even the Cashfinex setup seems off since it only hosts Bitcoin.
According to other sources that even though the company or owner claims that it produces an ROI through mining there is still no evidence of this?
If the owner keeps on the same path that he took a few times, then it can be a cryptocurrency that was the only set up to try to make this opportunity a legit ROI investment scheme but in reality, could be a fake’ish coin only created to fuel profits through the member to member investing.
That model is also known as a Ponzi Scheme and would also make it a scam in that instance.
Through all the research that I’ve done with Bitsolives, I can honestly say that I would never trust this company to join it myself.
I wouldn’t want to waste my time or money with it.
With that said, we are all adults here to make our own decisions.
I’ve shared the information that I’ve found, now it is time to find your own opinion with the information you now know about.
I hope you enjoyed my Bistolives review, please take the time to share this review with others by clicking on the social share buttons on this page so that others can learn about Bitsolives so if they are interested in it, they will know all the information about it before they join.