BitQwik Review – Scam or Legit?

Looking for more information on BitQwik? I’m sharing my honest review.

I’ve put together this review to share more details on BitQwik and to ask the question, is this a legit opportunity or a scam? You can read my full review and get my honest opinion regarding this opportunity below.

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BitQwik – Overview

We have come across many people talking about Bitqwik and therefore I have decided to review this product and find out what exactly it is all about. There are so many MLM companies setting up shops each day and therefore the onus lies on us to ensure that proper research is done before joining any one of them. I have believed that research is a great way to ensure that money is being invested in the right place. With brand new companies popping up and even older ones still going like PartyLite you need to do your research to ensure you are joining a legit company.

The Company BitQwik

If we look up the internet and try to know more about BitQwik, there is no information as such on their website. There is sparse information which tells nothing about who owns and operates the business. When I did a bit more research I found that BitQwik website domain was registered on 23rd of June, 2017. The marketing video of the company as available on its website is hosted on YouTube Channel under the name “OptimusX”.

There is another version of this channel which is used by Sherm Mason and I find that it is called OptimusX. Sherm Mason made his presence in MLM as the admin of Magnetic Builder. It was a sponsorship opportunity with $29.95 which started in 2011. Ever Since 2011 he has started t business opportunities and these include Paradise Payments, Magnetic Gratitude, Summer Fun Matrix, 3×9 Millionaire Machine, and Instant Pay Christmas. In 2016 4 more companies were launched by him and the year 2017 has seen Mason launching four companies including two related to Bitcoin. However, all these companies have collapsed since.

Review Of BitQwik

I have found that BitQwik does not offer any retail products or services. The affiliate membership can be marketed only by the affiliates. The affiliates who are a part of the compensation plan make money by donating bitcoin to each other using a 4×6 matrix. This plan puts the affiliate on the top of the matrix and four positions are there directly beneath them. These four positions comprise of the 1st level of the matrix and the second level is made up by dividing the four position by creating a further four positions. Hence I found that one could end up having 16 positions once this has been completed. The same formula is applied for levels three to six, i.e. each sub level has 4 persons under each of them.

How BitQwik Works

Once an affiliate become a part of this network and pitches in with a donation of $10 bitcoin to another existing affiliate, they become eligible to get $10 from four affiliates who are sponsored subsequently. Further additional donations of $3 are required to make the other five levels active as far as the 4×6 matrix is concerned and it works as follows:

Level 1 you will be donating $10 and getting $10 from four.

Level 2 donate $ 3 and you will be eligible for $3 from 16 affiliates

Level 3 donate $3 and get $3 from 64 affiliates.

The same thing goes on from level 4 to level 6 with $3 being added for each four joining under the four of them. This would take the total number of affiliate to 4096.

It has to be kept in mind that the payments are made and received only in the form of bitcoins

The joining cost for BitQwik as an affiliation is $10 bitcoin donation and to become fully participative it will cost $25.

Is BitQwik A Scam?

It’s hard to label BitQwik as a scam however you should certainly be careful of it. After all many opportunities that involve Bitcoin have popped up lately and I think many are jumping on the bandwagon. Ultimately this is not your typical “make money” scam like freedom cash system and EZ Money Team however it’s still one to be wary of and to make sure you really understand the business model before you jump in.

Conclusion & Recommendation

As is the case with many other donation companies I find that this is also the same. It does not have any products or services to offer. The income comes only by recruiting of new affiliates who invest their money by way of bitcoin donations. The new affiliates pump in money and the same is used to pay off existing affiliates and the journey continues. To me this is risky and the people who are good at recruiting and at the top of the pyramid so to speak will benefit the most.

I won’t personally be recommending this program.

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About the Author

Mark

Hi, I'm Mark. I figured out how to make a 6-figure income online and I've put this blog together to teach others how to do the same. Click here to see my no.1 recommendation...

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