BTC Wait Review: “Unique investment methods” that don’t exist
BTC Wait provide no information on their website about who owns or runs the business.
The BTC Wait website domain (“btcwait.com”) was privately registered on November 7th, 2017.
BTC Wait claim to be incorporated in the UK through BTCWait Limited.
BTCWait Limited was incorporated on November 17th, 2017.
The address used to incorporate BTCWait Limited belongs to Registered Office, who provide virtual office services.
Zachary Simpson is listed as the sole Director of the company. Given the lack of external information available however, Simpson likely doesn’t exist.
UK incorporation is dirt cheap and for the most part unregulated. They are a favorite for scammers looking to incorporate dodgy companies.
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.
BTC Wait Products
BTC Wait has no retailable products or services, with affiliates only able to market BTC Wait affiliate membership itself.
The BTC Wait Compensation Plan
BTC Wait affiliates invest funds on the promise of an advertised ROI:
- Gold Plan – invest $10 or more and receive a 3% daily ROI for 100 days (300%)
- VIP Plan – invest $1000 or more and receive a 7% daily ROI for 35 days (245%)
- Business Fast Plan – invest $2000 or more and receive a 10% daily ROI for 15 days (150%)
- Super VIP Plan – invest $20 or more and receive an 800% ROI after 40 days
- Super Silver Plan – invest $50 or more and receive a 1800% ROI after 70 days
Referral commissions are available on funds invested by downline affiliates, paid down four levels of recruitment (unilevel):
- level 1 (personally recruited affiliates up to 500) – 5%
- level 1 (recruit 501 or more affiliates) – 7%
- level 1 (recruit 1001 or more affiliates) – 10%
- level 2 – 2%
- level 3 – 1%
- level 4 – 0.5%
Joining BTC Wait
BTC Wait affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the BTC Wait income opportunity requires a minimum $10 investment.
BTC Wait claim to generate ROI revenue through “unique investment methods”.
Naturally the company provides no evidence of any external investment taking place, leaving new affiliate investment the only verifiable source of revenue.
Using newly invested funds to pay off existing investors makes BTC Wait a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment slows down so too will new funds entering the system.
This will starve BTC Wait of ROI revenue, eventually prompting a collapse.
The math behind a Ponzi scheme guarantees that when they collapse, the majority of investors lose money.