Welcome to my Bitwaves Review. There has been some vibe about this company called Bitwaves,so I decided to find out what the company was all about and do some research on the company.
You are probably here because you have heard of Bitwaves and what to find out if it is a legit company or a scam.
Here is a detailed review on the company Bitwaves and I would walk you through the Bitwaves company,the compensation plan,the products and the verdict.
BitWaves Review – The Company
When I went and visited the company’s website I couldn’t find some important details I was looking for, mainly no info was offered on the owner or the operator of the business.
The company says they are “a UK registered company” as stated on their website.
Morgan Stevenson is the one and only Director that’s associated with the incorporation, and along with this, you’ll find an address that’s located in Bedfordshire, England.
However, aside from the mention of his name for the incorporation, I wasn’t able to find any outside mention of Morgan Stevenson anywhere.
This leads me to believe that the Morgan Stevenson that’s being described here doesn’t actually exist, and considering that UK incorporation are extremely cheap and easy to get, BitWaves probably doesn’t have any real physical presence in the country at all.
BitWaves Review – The Products
BitWaves has no services or products for affiliates to purchase or sell.
If affiliates wish to sign up with BitWaves, they are only able to market the company affiliate membership itself.
A setup like this means you won’t find any retail sales activity within BitWaves, and as we’ve seen time and time again, this is a move that’s only ever found with companies that are operating as schemes or scams in the MLM underbelly.
The BitWaves Compensation Plan
Affiliates who want to participate in the company compensation plan are required to sign up as a member and invest into the company.
The company affiliates invest capital (funds) with the agreement of a promoted ROI (return on investment):
· Starter Plan – Invest $25 or more and receive a 4% daily ROI for 40 days (160%)
· Perfect Plan – Invest $200 or more and receive a 0.3% hourly ROI for 450 hours (135% in 18.75 days)
The company offers referral commissions on the capital (funds) invested by sponsored affiliates, which is paid out down to level 3 of sponsorship of the unilevel team:
· Level 1 (personally sponsored affiliates) – 6%
· Level 2 – 2%
· Level 3 – 1%
Cost To Join BitWaves
If you’d like to join BitWaves, you can initially do so for free and only earn on referral commissions.In order to earn referral commissions and the offered ROI, you’ll need to make an investment of $25 or more.
If you wish to become a company affiliate and fully participate in the company’s business opportunity and their compensation plan, a $25 minimum investment will be asked of you.
Is Bitwaves Actually Legit Or A Scam?
Bitwaves is actually legit and not a scam.However to be successful in Bitwaves or any other network marketing company it would depend on your lead generation technique,your ability to recruit and your marketing techniques.
Verdict on BitWaves
Not too sure this company is coming off as a legit company…
Seems like more of a company that would fall into the ‘scam’ category.
None of this can be presented to you, nor could you take a look into their books and see any evidence of this happening either.
So, what’s really left that this company has to offer… is only sponsorship into the company.
If you gave them ‘real’ money to sign up, then you know when you sponsor affiliates, and when others sponsor affiliates as well, that money can be traced and proven that it went into the company.
According to BitWaves’ website, the company can generate funds for the offered ROI through “cryptocurrency & forex trading.”
Furthermore, it’s sated that the “majority of the the [sic] profit earned is through trading in cryptocurrency market and forex trading markets.”
However, as you’d probably expect, there’s absolutely no evidence that any of this is taking place.
Affiliates join BitWaves by investing money, they’re told they can earn a daily or hourly ROI, and they can increase their earnings by getting other people to join and do the same thing. Affiliate investments are also the only source of money actively coming into BitWaves, and this means that these are used to pay ROIs and commissions owed to other members.
That being said, if the company is taking that new money invested by new affiliates to pay off already invested affiliates that are now expecting compensation, then that is what is called a Ponzi scheme.
And with all scams, once you stop being able to sponsor people into the scam, the money rolling in will stop too and then the whole scam comes to a screeching halt.
This halt will cause the company to fail, and those whom had invested into the company with their hard-earned cash will see all that money ultimately lost forever.
So my opinion here is to think long and hard before signing up and handing over your cash….
Anyway, I hope you enjoyed my BitWaves review and if you have any questions, please leave them in the comments below…