Bitqwik is seriously trending on social media, lots of hype coming from people all around the globe. I am sure someone must have whispered it to you or you should have come across it.
I will like to make it clear to you that my opinion about this is clearly unbiased and from my own understanding based on research.You might be asking questions
You might be asking questions like:
Could it be a scam?
Can you trust Bitqwik?
Is it worth the stress?
Don’t worry, all will be reviewed and revealed in no distant time to you, just keep reading.
Who Created BitQwik?
Going through BitQwik website (bitqwik.net) I discovered that the domain name was registered on the 23rd of June 2017 and there is no information on who actually runs this site or the company pioneering the idea behind it. They actually appeared faceless. I also noticed that they were in alliance with a well-known scammer called Sherm Mason. A channel owned by Mason known as Opitimus X (you tube channel) hosted a marketing video for BitQwik. Mason made his big blow when he acted as an admin in magnetic builder in 2011, where during recruitment affiliates were asked to pay 29.95 dollars to get started. Mason also featured numerous Ponzi schemes such as paradise payment, summer fun matrix,3×9 millionaire machine, magnetic gratitude and instant pay Christmas. Recently he established money lines, cash rally GPs, Just got bitcoin, 1 big Bitcoin team etc. All of these schemes and companies are all off the grid, they no longer exist.
What Products are offered on BitQwik?
There are no products, nothing to sell or customers, distributors or whoever that wants their services only affiliate membership is being offered to people. I believe that in the Ponzi-MLM world when you see something like this. we all know that all Ponzi will eventually crash.
In BitQwik Affiliates are to donate Bitcoin to one another as gifts using a 4×6 matrix system.
The first stage (Level 1) of it requires you to give 10-dollar worth of bitcoin to an existing affiliate hence once you do this you stand a chance of getting 10 dollars for four new affiliates coming into the system after you.
Level 2 — Donate 3 USD and receive 3 USD from 16 affiliates
Level 3 — Donate 3 USD and receive 3 USD from 64 affiliates
Level 4 — Donate 3 USD and receive 3 USD from 256 affiliates
Level 5 — Donate 3 USD and receive 3 USD from 1024 affiliates
Level 6 — Donate 3 USD and receive 3 USD from 4,096 affiliates
The Truth About BitQwik Compensation Plan
From the table above, you might think that if you could recruit 5,460 people or get your team to recruit 5,460 people you will earn $16,608. In reality, it’s not true. Your downlines in your level 6 are to pay you $3 each which in total is $12,288. before your level 6 downline can pay you $3 each, they must have 1,024 persons each in their level 5. So you need a total of 1,402,196 downlines before you could each $16,383. By now you should know that even if you are a good marketer, BitQwik is a waste of your time.
Is BitQwik really Scam?
I will try to be sincere here, bitQwik is not really a scam but there are some things that you have to be conscious of. You have to learn and identify the business weakness and you must be a good marketer. Secondly, if you join, you are most likely used. Sherm Mason is at the top of this Ponzi pyramid. because he is at the top, he will be making a total of $86,256 from one account and not $16,408 like we calculated above ( you can do the maths if you are good at math). If Sherm Mason decided to have say 10 accounts, he will be making approximately 10 X $86,256 from your sweat.
Conclusion on BitQwik
From my research and observations, Bitqwik is so simple with its operations. You give out Bitcoin as a gift to other affiliates and get qualified to receive from incoming affiliates. Companies that operate in this manner are everywhere.
Keep it in mind that Mason is going to make as much as he can from you and once recruitment rate drops down he is going to leave you. Most people who are into this will eventually lose out. My advice is that you should sit this one out.
If you must go into it then take your time to work on your marketing skills.
Hope you got the answers you seek.
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Electrical Engineer, IT consultant and Blogger (Founder of NigeriaBitcoinCommunity.com). I started dealing with Bitcoin in early 2016. It has taught me a lot of lessons in Finance and how to make a living in the cryptocurrency world. I started this blog Dec. 2016 when I discovered that lots of people (mostly Nigerians) were being scammed in the name of Bitcoin. Major Part of this Blog is dedicated to educate/expose user the promising opportunity in the crypto-world most especially how to deal safely and avoid scam.