BitGlare Review: “Trading software” MLM ICO lending Ponzi

BitGlare provide no information on their website about who owns or runs the business.

BitGlare claim to have been “found in Oct 2016 by a group of experts in volatility trading software”, however the company website (“bitglare.com”) was only registered on November 30th, 2017.

The BitGlare domain was registered privately and provides no information about company ownership.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

BitGlare Products

BitGlare has no retailable products or services, with affiliates only able to market BitGlare affiliate membership itself.

The BitGlare Compensation Plan

BitGlare affiliates invest in BGC points, which are sold by BitGlare’s owner(s) for between 20 cents and $1.50 each.

Acquired BGC points are “lent” back to BitGlare on the promise of an advertised “guaranteed return”:

  • invest $100 to $1000 and receive a daily ROI plus 0.05% daily bonus for 149 days
  • invest $1010 to $5000 and receive a daily ROI plus 0.1% daily bonus for 129 days
  • invest $5010 to $10,000 and receive a daily ROI plus 0.2% daily bonus for 109 days
  • invest $10,010 to $50,000 and receive a daily ROI plus 0.3% daily bonus for 89 days
  • invest $50,010 to $100,00 and receive a daily ROI plus 0.4% daily bonus for 69 days
  • invest $100,010 or more and receive a daily ROI plus 0.5% daily bonus for 49 days

Referral commissions on both initial investment and ROI amounts paid to recruited affiliates are paid via a unilevel compensation structure.

A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

Investment ROIs

BitGlare cap payable initial investment referral commissions at three levels of recruitment:

  • level 1 (personally recruited affiliates) – 10%
  • level 2 – 4%
  • level 3 – 2%

Lending ROI

When recruited affiliates lend acquired BGC to BitGlare, the company pays a referral commission on ROI payments down ten levels of recruitment:

  • level 1 (personally recruited affiliates) – 10%
  • level 2 – 3%
  • level 3 – 1%
  • level 4 – 0.8%
  • level 5 – 0.6%
  • level 6 – 0.3%
  • level 7 – 0.2%
  • level 8 – 0.1%
  • level 9 – 0.07%
  • level 10 – 0.04%

BitGlare Gold

BitGlare Gold appears to be a “points within a points” system.

BitGlare affiliates who invest $100 or more receive BitGlare Gold points.

BitGlare state they will pay a “special interest rate” 20 day ROI on BitGlare Gold points in February, 2018.

Joining BitGlare

BitGlare affiliate membership is free, however free affiliates can only earn referral commissions.

Full participation in the BitGlare income opportunity requires a minimum $100 investment.

Conclusion

BitGlare claim to generate ROI revenue through the

latest volatility trading software 3.2 which has proven to be a huge achievement after months of test run.

No evidence of any such software existing is provided.

And furthermore if BitGlare did have a software bot able to generate enough of a daily ROI to keep a HYIP lending scheme alive, why would they be sharing generated profits with randoms over the internet?

Remember, if we ignore the fact that BitGlare didn’t exist up until a few months ago, the company is claiming to have started back in 2016.

As with every MLM ICO lending scheme, the only verifiable source of revenue entering BitGlare is new affiliate investment.

Using new investment to pay existing affiliates a daily ROI makes BitGlare a Ponzi scheme.

Once affiliate recruitment dies down, so too will new funds entering the scheme.

This will starve BitGlare of ROI revenue, eventually prompting a collapse.

The math behind a Ponzi scheme guarantees that when they do collapse, the majority of investors lose money.

Let’s block ads! (Why?)

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