There are numerous opportunities over the internet that promise you many easy ways of earning streams of passive income. Locating the right online opportunity to join can be extremely challenging due to the high number of available options. To get a legitimate business opportunity online, you need to take ample time to carry out your research to avoid becoming a victim of the scams and rip-offs found over the internet.
Becoming a part of an online business venture has many risks to take, a huge amount of money, time to consume, and also efforts to invest. A legitimate business opportunity will require a substantial amount of money to get started, and many establishments in the multi-level marketing sector are typically costly. Doing your due diligence will help you avoid most of the scams and online frauds polluting the industry with all the legitimate opportunities out there.
In this review, we will have a closer look at BitBox Social to see whether their promise of the unending wealth is real or just another illegitimate scheme. We’ll review all the available information about this online opportunity and compare the facts with the regulations and laws from agencies like the FTC and SEC to determine whether the online income opportunity is a fraudulent scheme. If you have an interest in BitBox Social, read on to know more about the business opportunity.
BitBox Social Overview
When you first land on the BitBox Social company website, you will realize that there’s no information on who owns or runs it. There is no Chief Executive Officer, President, Co-founders, or a leadership council listed on bitboxsocial.com. After checking the BitBox Social’s domain “bitboxsocial.com,” you will notice that it was privately registered on 22nd March 2020. Again, “Bitboxsocial.net” was registered on the same day, too. And there’s no information on the BitBox social media sites about the company either. Whenever I see these types of online companies without any listed executive team, leadership council, or owners, I get the impression that they must be ‘hiding’ from something. In most cases, that something is a liability issue, and so far that is a red flag
BitBox Social Products
BitBox Social is an online platform where people can purchase advertising packages on their website to earn some cash. It is not clear how good this kind of advertising will be, but they appear to have affiliate members of BitBox clicking on adverts for extra money. That gives us the impression that these adverts are not quite targeted, which means that people are only clicking on the ads to make some dollars for themselves. bitbox social does not care about you or your adverts. The affiliates are just viewing the ads for extra cash.
To get started in BitBox Social, you need to make the first payment in US dollars, but they collect it in Bitcoins. If you make the payment in Bitcoins, you will not get a refund. Based on the limited information we found on the BitBox Social website, you can also earn more money by referring to other individuals to the program through your affiliate links. BitBox Social pays some commissions when recruited affiliates and retail customers purchase advertising. However, the BitBox Social platform withholds 10% of the earned commissions. According to the site, this balance will be put towards advertising only.
According to BitBox Social website, you’re led to believe that this platform is an online opportunity through which you can purchase advertising and earn, but there’s more to the program than meets the eye. In my opinion, BitBox Social is all about investing and recruiting other individuals to do the same. BitBox Social has three different advertising packages that you can choose once you sign up on the platform.
These advertising packages include:
- Pro Display Ad: $50 for a 5-day text box advert
- Pro Login Ad: $497 for a 24-hour login advert
- Premium Display Banners: The price is not indicated
BitBox Social Compensation Plan
As mentioned earlier, the BitBox Social platform pays some commissions when recruited affiliates and retail customers purchase advertising. Each advertising pack includes 120-days maturity duration for return on investment. The minimum fee for affiliates joining BitBox Social platform is $99, which is paid in Bitcoins. The affiliates get paid each time advertising is bought through their online affiliate links. However, the online platform withholds 10 percent of the earned commissions, and this balance is put towards advertising. Here is how the compensation plan works.
Once you become an affiliate with BitBox Social, you will earn $10 for each $50 Pro Display Advertising bought by a retail customer you refer to the program or an affiliate you recruit. You will also earn $50 for each $497 Pro Login Advertising bought by an affiliate or a retail customer.
BitBox View Ads and Earn Plan
BitBox Social is paying affiliates some extra cash to view your adverts. Affiliates earn $10 each time for viewing 60 adverts, and each advert has a seven-second timer. The affiliates should keep every advert open for a set duration of seven seconds to be eligible for the income.
Extra and Work Bonuses
The affiliates of BitBox Social platform will earn $10 in commissions for viewing 60 adverts that run for 7 seconds each, known as Work Bonuses. The Unclaimed Work Bonuses will be made available to the other affiliates of BitBox Social as “Extra Bonuses.”
According to the BitBox Social website, a purchase of a package of $50 Pro Display Adverts generates some loyalty credits via which affiliates can earn a 120-day ROI. This plan gives me the idea that the BitBox anonymous owners seem to have come up with an idea of hiding their passive investment plan from the authorities. Rather than leading with a Passive ROI opportunity that the investors or affiliates want, they’re leading with advertising packages.
BitBox Social Unilevel Commissions
BitBox Social’s marketing references indicate that the company utilizes a uni-level compensation plan when it comes to recruitment. That implies there is a multi-level marketing element to their compensation plan. However, the specific details of the uni-level commissions given by the BitBox Social platform are not provided.
Is BitBox Social Ad Credits a Scam?
In my opinion, BitBox Social is not an online scam, but more of a closed-loop ad credits Ponzi scheme, but it’s something that’ll probably result in investors losing their hard-earned money. You need to know that most of the people who market some schemes like BitBox Social are not making some cash from the BitBox Social program itself, but by referring and recruiting other individuals to the program. Therefore, if you sign up and invest through the affiliates’ referral links, they earn a specific commission. These people are not risking their money in the BitBox Social program like they’re encouraging you to do, but they’re just earning money at your expense.
At BitBox Social, affiliates register, invest in the $50 Pro Display Advertising positions, and earn some loyalty credits. The loyalty credits typically generate a return after 120 days, which is paid out of the subsequently invested funds. Generally, everything in the BitBox Social website is just pseudo-compliance fluff. The retail commissions offered are also irrelevant because the only individuals buying advertising credits will be affiliates from BitBox Social. The $497 Pro Login Advert package is ridiculous both in what you get and in pricing.
The only thing that the platform will sell is the $50 BitBox Social ad credits positions, and they will only be sold to affiliates because of the 120 days ROI scheme attached.
The business model of BitBox Social is more of a Ponzi scheme, and the supportive evidence of the platform being a scam include:
- Lack of BitBox Social ownership information and other basic details
- Failure to disclose enough information about the online income opportunity on the company’s website
- The use of Bitcoins to solicit investment
- Failure to disclose the specific of the company’s loyalty credits plan on any platform
- Lack of evidence that shows BitBox Social company has already registered all its securities offerings with relevant financial regulating agencies
The whole BitBox Social program is dependent on some recruits coming in and investing their money. bitbox social utilizes the cash they get from the recruits to pay out the company affiliates in commissions and return on investment, meaning that it is another pyramid scheme. As we all know, pyramid schemes are usually illegal and are only established to make the creators wealthy and not the members who invest in them. Most of the people who register and invest with pyramid schemes usually end up losing their hard-earned money instead.
The main problem with BitBox Social is that if recruits stop signing up on this platform, then the cash will stop flowing into the firm, and the members will not get paid anymore. That may not sound like a big issue initially, but it will lead to big losses in the long-run. For example, if you register with BitBox Social today and invest $99 hoping to get the return on investment as promised and individuals stop registering with the platform shortly after you make your deposit, then you will lose your cash because there’ll be no more cash coming into the online platform to pay out all the existing company affiliates.
The things promised by the company are made to look great, but they are extremely risky, which is the main reason why they are illegal. As soon as the online platform stops getting more interested people, the owner will change it around just a little bit and then re-launch it under another brand name. In summary, these schemes are geared towards making their developers rich and nothing else.
In my opinion, the BitBox Social platform is just a clever way of hiding the fact that they are just another Ponzi scheme kind of business model. Rather than leading with return on investment, the company leads with some pseudo-compliant online products that appear to be created only to legitimize the online company. Furthermore, the loyalty credits plan is the company’s passive investment scheme, and the company should register with the relevant authorities in each jurisdiction they are promoted in and operate in. BitBox Social does not show any such proof that it is registered to legally provide securities for the 120 days ROI.
Moreover, the adverts BitBox Social comes up with are not targeted. Individuals who decide to purchase BitBox Social ad credits will get their clicks from the other affiliates who are only viewing the adverts for extra money. Lastly, the affiliates are asked to pay all their fees in Bitcoins. The problem with Bitcoin payments is that you will not be able to receive any refunds. The online products like advertising credits, automated marketing platform, and anything else that BitBox Social opportunity attaches to its affiliate membership do not help the online firm with regard to the legality front. You need to know that every pyramid or Ponzi scheme will eventually collapse when the recruitment of affiliates dries up.
Because there are no real services or products offered by the online company, and people are mainly investing their money into the affiliate membership subscriptions, that means the entire system will not be sustainable in the long-term. You will only earn by referring other people to the platform, and eventually, the platform will become saturated. The last individuals to join BitBox Social will leave the platform when they don’t have any individuals to recruit or refer to the platform.
I wouldn't recommend BitBox Social to anyone because there are too many red flags on this platform. If you’re looking for a legitimate online platform to make streams of passive income, you need to avoid such types of shady platforms. You can find many legit options out there on the web to make a decent income. You can start with a free demo account with a regulated online broker to understand how it works. It would be best if you learned how to trade online, create a solid strategy, and know all the risks involved to get good returns from any online business opportunity.