Welcome to my ReferABit Review. There has been some vibe about this company called ReferABit,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 ReferABit and what to find out if it is a legit company or a scam.
Here is a detailed review on the company ReferABit and I would walk you through the ReferABit company,the compensation plan,the products and the verdict.
ReferABit Review – The Company
ReferABit does not provide any information on their website about who owns or operates the company.
The ReferABit website domain was registered privately as “referabit.com” on the 20th of May, 2017.
The domain name for the website referabit.com was registered just a few days ago on May 20. 2017, but the private nature of the registration hides info such as who the owner is or where the registration took place.
After closer inspection, it would appear that some of the copy found on the ReferABit website has been copied and pasted directly from the site for Bitcoin Baking. As if that wasn’t enough, both of the website feature the exact same website design template.
Bitcoin Banking’s domain bitcoinbanking.net was registered on March 23, 2017 with bologna details for the owner and address at which the registration as completed.
The company allows affiliate to invest in it for the chance to earn up to 10% over the course of 90 days. This affiliate investment activity is the only source of income that’s making its way into Bitcoin Banking, and as such, it’s quite likely that it’s a Ponzi scheme.
Written content on the company website is taken straight from Bitcoin Banking, a website which shares the same design template as ReferABit.
ReferABit Reviews – The Products
ReferABit isn’t selling any goods or services to retail customers. This is the exact same setup that you’ll find with Bitcoin Banking, and it creates for a situation where the only thing that affiliates have to offer is the membership for the income opportunity.
ReferABit does not have any retail products or services.
Affiliates who sign up with ReferABit can only market the affiliate membership.
The ReferABit Compensation Plan
Like all mlm companies, you get paid usually when you sell a product or service to customers or other affiliates…
The amount of money earned from the ROI is dependent on how much money an affiliate chooses to invest into ReferABit, and the three main investment levels are as follows —
Starter: This is the beginner package where affiliates are required to invest $50 to $999. In this package, you earn a daily ROI of 2% for 100 days.
Professional: In this category, affiliates must invest $1000 to $1999. Once you make that investment, you will earn a daily ROI of 2.25%, over a period of 100 days.
Expert: The Expert category is the most lucrative regarding returns. Affiliates invest at least $2000 and then earn a daily ROI of 2.5% for 100 days.
Cost To Join ReferABit
The cost to join ReferABit as an affiliate is free, but affiliates must invest at least $50 to take part in the company compensation plan.
Is ReferABit Actually Legit Or A Scam?
Well, to be honest, ReferABit is not really a proper scam or anything like that.With any company you joining online or any other marketing company in general it would all depend all your plan on how to get people to sign up,your lead generation technique and marketing skills.
Conclusion on ReferABit
With ReferABit, the main marketing technique here is that the company produces its daily ROI through bitcoin trading.
According to the ReferABit website, “Bitcoin trading is different than buying and holding. When you are trading Bitcoins it means that you are actively trying to buy Bitcoins at a low price and sell them back at a higher price in a relatively short interval.”
There are legit ways to trade bitcoin and earn a profit, but the problem here is the fact that ReferABit doesn’t provide any proof that this activity is actually taking place.
The only source of income that’s evidently making its way into the company is that of affiliate investments, and with these being used to pay off the ROIs that ReferABit advertised, we end up dealing with nothing more than a Ponzi scheme.
The first problem I see here is that the company is claiming a consistent ROI based on bitcoin trading…
With trading, profits are never consistent or even guaranteed…
So, there’s the first red flag…
The second is the fact that there is no proof that trading is even happening…
When a company isn’t completely transparent with how they are making profits, chances are it isn’t what they are saying…
And with no real products or services, this company seemingly relies heavily on recruiting new affiliates to keep funds coming in…
This business model isn’t a long term solution and tends to only benefit those who start the company…
So, if you are considering joining this company, please keep this in mind…
I hope you enjoyed my ReferABit review and if you have any questions, please leave them in the comments below…