Amaze BTC has been making its rounds on social media. But before I go any further, let me make it clear that I am NOT promoting this business opportunity as an affiliate or distributor in any way, nor have I ever in the past.
AmazeBTC Review – The Company
AmazeBTC is the latest company to be reviewed by me, and let me tell you, I wasn’t met with that great of a first impression.
First of all, AmazeBTC made the decision to not provide any kind of background information on their official website. Hence, I have no idea whatsoever as to who owns the company, who’s running the daily operations, or where it is physically located.
This is often seen with schemes and scams, and while I don’t like implying something like that this early in my review, it’s a fact.
According to the AmazeBTC website, “AmazeBTC is a network based platform managed by the MegaBTCSolutions, an Elite, Successful and Experienced group of administrators.”
That’s fine, but without any actual names or faces to the company, its nothing but simple marketing fluff.
Registered on October 6, 2016, the domain name for the AmazeBTC website registration is set to a private state, and I was not able to see who was behind the registration or where it took place.
There is a Facebook group for AmazeBTC, and the lone administrator goes by the name of Iresh Marsov. Yet, seeing as how the profile for that person was just created on November 1st of this year, it’s very probable that it is a completely phony account.
Alexa rankings for the AmazeBTC website show that a massive 35% of all the traffic it receives comes out of Spain, and with that being the largest source of traffic for the site, it’s likely where the company is being operated out of. Nevertheless, without official confirmation, that’s simply a guess.
AmazeBTC Product Line
In regards to the product line, there isn’t a whole lot to discuss. AmazeBTC does not offer any form of product line to their customers or affiliates, and while this irrefutably made the company much cheaper and easier to launch, it is also a move that’s going to cause nothing but trouble later on.
Without a product line in place, there’s no retail sales taking place. With no retail sales, AmazeBTC does not have a secure stream of income or revenue coming in aside from the investments that they are getting from their affiliates.
This is what I usually see when reviewing a Ponzi or cash gifting scheme, and that is likely where we’re headed with this review.
AmazeBTC Compensation Plan
As for the compensation plan, we’re looking at an arrangement in which affiliates for the company gift bitcoin to one another in return for subsequent bitcoin gifting payments.
These transactions are controlled via the use of a 2 x 5 matrix system, and the matrix is complete once all of the available 62 spots have been totally filled.
Once an affiliate signs up with AmazeBTC, they are required to gift 0.055 BTC to the affiliate who recruited them to join. When that gift payment goes through, the affiliate who just got recruited is then qualified to receive 2 gifted payments of 0.055 BTC from the next 2 affiliates who join.
This gifting of payments repeats for 5 levels, with every additional level resulting in being able to earn more and more money.
Those levels work in the following manner:
- Level 1 – An affiliate gifts a payment of 0.055 BTC to the person that recruited them to join the company, and they are then eligible to receive two payments of 0.055 BTC.
- Level 2 – An affiliate gifts 0.1 BTC and is then eligible to get 0.1 BTC from four other affiliates.
- Level 3 – An affiliate gifts 0.3 BTC and is then eligible to get 0.3 BTC from eight other affiliates.
- Level 4 – An affiliate gifts 2 BTC and is then eligible to get 2 BTC from sixteen other affiliates.
- Level 5 – An affiliate gifts 16 BTC and is then eligible to get 16 BTC from thirty-two other affiliates.
Joining AmazeBTC – How?
To join, you will be required to make a minimum investment of at least 0.055 BTC in the form of a gift payment to the affiliate that recruited you to join.
Still, if you want to get fully involved with everything that the compensation plan has to offer, you’ll need to pay a total of 18.455 BTC. That may not sound like a lot, but after you do the math, that translates to a grand total of $13,760 USD.
My AmazeBTC Conclusion
My conclusion regarding this company shouldn’t be all that surprising.
According to the company’s site, “AmazeBTC is an online peer to peer donation system built for the welfare of the community.”
Whenever you see the words “peer to peer”, it is extremely likely that you’re dealing with a cash gifting scheme.
And, with AmazeBTC, that’s exactly what we’re looking at.
Affiliates sign up for the membership by gifting payments in BTC to other members and are then qualified to receive subsequent payments from other affiliates.
There is nothing at all being marketed or sold to customers, as the only activity taking place is with these gifting payments.
As these schemes always prove, the company will trickle down once recruitment levels begin to die down. When this happens, gifting payments will slow, and it will result in people not receiving payments that they are otherwise entitled to.
The mainstream of people who get caught up in this deal will end up losing their money, and thanks to the exclusive use of bitcoin for all of the payments, recovering any lost funds will be nearly impossible once the company goes under, and it will.
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