ReferABit Review – Good Opportunity Or Big Scam?

ReferABit ReviewRecently, this business has been getting a lot of attention.

In fact, there is lots of hype and buzz going around including people pitching it left, right and centre.

I’ve noticed a lot of people pitching it on social media.

Now, first off, let me make it clear I am NOT promoting this business opportunity as an affiliate or distributor.

I have all the facts about this business in my ReferABit Review so you can learn the full truth about it!

Is the business legit or a scam?

Does it deliver on it’s promises?

I explain in my Review of ReferABit before you.

Let’s get started.

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What The Heck Is ReferABit?

On the ReferABit website, you won’t find any sort of information in regards to who’s running the company, when it was founded, or where it’s physically based out of.

I did my best to look in every corner of the ReferABit website to try and find this info, but it simply is not here.

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.us) 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.

As for the location of Bitcoin Banking and the person running it, the domain name was registered through a domain registrar that’s based out of India. On top of this, Alexa rankings estimate that 100% of all traffic for the website comes from the country as well.

This is a very strong indicator that the owner of Bitcoin Banking resides in India, and similarly, this is where ReferABit is being run out of as well.

What Are The ReferABit Products?

Not surprising in the least, 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.

This is never something that you want to come across in the MLM world, as it’s usually a telling sign that you’re dealing with some sort of Ponzi or pyramid scheme.

What About The Compensation Plan For ReferABit?

Speaking of the income opportunity that ReferABit is offering, affiliates for the company are tasked with investing $50 and more so they can earn a daily ROI that’s paid for a total of 100 days.

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 — Affiliates invest between $50 and $999 to earn a 2% daily ROI for 100 days
  • Professional — Affiliates invest between $1000 and $1999 to earn a 2.25% daily ROI for 100 days
  • Expert — Affiliates invest $2000 or more and earn a 2.5% daily ROI for 100 days

On top of this, affiliates also have the opportunity to earn through residual referral commissions.

This money is paid out through both a binary and unilevel setup, and the goal to earning the most here is by recruiting additional affiliates into ReferABit and getting them to invest large amounts of money.

What’s The Cost Of Joining ReferABit?

If you’d like to join ReferABit, it’s actually free to join the company. However, if you want to start earning money through the income opportunity that’s at hand, you’ll need to make an investment of at least $50.

So, Is There A ReferABit Scam Going On?

So, like with all business opportunities, you will hear things around the internet about there being a ReferABit scam or something like that.

And from what you have read, you may also wonder if this is legit or a complete scam.

So, what’s the truth?

Is there a ReferABit scam going on or is this legit?

Well, to be honest, ReferABit is not really a proper scam or anything like that.

But there are some things to be aware of (see conclusion section).

That is how you will be successful.

See below for help with making money.

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Finally, My ReferABit Review And Conclusion!

With ReferABit, the main marketing ploy here is the fact that the company is able to produce its daily ROI through bitcoin trading.

As per 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.

It’s unclear as to why ReferABit’s admin decided to start the company when they just launched Bitcoin Banking not too long ago, but in any case, you’ve now got two very similar Ponzi schemes to keep an eye out for.

Just like all other scams along these lines, ReferABit will collapse once people stop joining and investing their cash. This will result in the company not being able to pay the ROI that it owes to its members, and this will spell the beginning of the end.

ReferABit’s admin(s) will make off with the lion’s share of all the cash while everyone else is pretty much left to lose out.

This is the story that’s often seen with most Ponzi schemes, and I don’t see why ReferABit will be any different.

Hopefully, you have found my ReferABit Review useful.

I wanted to give a lot of details because there have been other reviews of ReferABit which were a bit thin on the detail side.

No matter what happens, if you really want to succeed with any business, you have to learn how to market properly.

And, my training below will help you do that and make money!

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