Is My Bit Rush a Legitimate Investing platform or just Ponzi Scheme to get your money?
Let’s find out…
My Bit Rush The Company:
I went over to their website mybitrush.com and for the life of me can not figure out who is running this company.
No President, CEO or any Leadership council members.
Not even any Chief, cook or even bottle washer!
No Owners or better yet anonymous owners!
Why is that?
Domain: mybitrush.com was registered on July 20, 2017.
The registrant owner is listed as Andres De La Parra.
However I could not find any information on this person making me wander if he even exists.
My Bit Rush Product Line:
They have no retailable products or services at the moment. The only thing that their affiliates have to market is the affiliate membership itself.
My Bit Rush Compensation Plan:
In order to receive a daily ROI of 0.5% – 1.5% you will have to ‘convert’ your dollars into Bitcoin and fund the platform based on their investor plans.
They have 7 plans:
Invest $100 (no daily ROI or Matrix Residual).
Earn between 0.5% – 1.5% and the opportunity to earn residual commission via 2 X 3 Matrix:
Keep in mind that all funds that you invest must be converted into BTC before you can invest.
My Bit Rush pays out 20% commissions for all personally sponsored affiliates, reps and investors.
My Bit Rush is using a 2 X 3 Binary Matrix and also seem to offer matching bonuses on different plans.
Cost to join:
1- Free (only earn referral commissions).
2- $25 Fee and then from $100 and up (passive income).
My Bit Rush looks like another Ponzi Scheme / HYIP that revolves around recruitment for revenue creation.
This is creating revenue by recruiting new reps to pay the older ones.
I don’t recommend this because it has too many red flags.
1- Anonymous owners.
2- Promise of Income. Anything that promises you an income for doing absolute nothing is a red flag.
3- My Bit Rush claims that they make Revenue from ICO / token Acquisition, mining and trading. However there is no proof.
4- Illegal securities offering. My Bit Rush does not seem to be registered with any government body that regulates investing and securities.
Maybe you may get away with marketing this type of deal in less strict countries but not in the US or Canada.
Anyone caught illegally promoting black market types of businesses will face legal fines / imprisonment.
If you were sent a link to this opportunity via a Network Marketer, ask them for proof in regards to your ROI.
Many people are joining for free and then trying to get others to invest their money so they can make referral money.
They are joining for free and then trying to get you to invest your dollars into Bitcoin (to fund the scheme).
Most HYIP systems don’t last very long and anonymous owners can run away with all of your funds (after you have converted your dollars into BTC).
If this happens (as it usually does), even the Network Marketers get burned out of their referral money).
You may have come to this review to do research on a plan for firing your boss / replacing your income online so that you can build your own dream instead of your employer’s.
Investing in a Ponzi will only mean that you are helping the anonymous owners…
And get this…
Not a winning plan at all to me.
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