BitPlam’s website has no information on who owns or operates the firm.
On August 30th, 2021, BitPlam’s website domain (“bitplam.com”) was privately registered.
According to BitPlam’s Twitter page, the firm was founded on September 17th.
BitPlam presents a UK incorporation certificate for Bit Plam LTD on its website in an attempt to seem official.
An MLM firm based in or claiming to be based in the United Kingdom is a red flag.
In the United Kingdom, incorporation is dirt cheap and virtually uncontrolled. Furthermore, the FCA, the United Kingdom’s leading financial regulator, does not actively regulate MLM-related securities fraud.
As a result, the United Kingdom is a popular destination for fraudsters wishing to incorporate, run, and market bogus businesses.
Incorporation in the UK or registration with the FCA are irrelevant for MLM due diligence.
As always, if an MLM firm is not honest about who runs or controls it, consider twice before joining and/or turning over any money.
Products by BitPlam
BitPlam does not sell any items or services.
Affiliates can only promote BitPlam affiliate membership.
BitPlam’s Compensation Scheme
BitPlam affiliates invest USD and/or bitcoin in exchange for a daily return of 4% to 5%.
Lite – invest $25 to $4999 and earn 4% every day for 30 days (a 220% return).
Plus, if you spend $5000 to $200,000, you will get 5% every day for 40 days (300% ROI).
It should be noted that withdrawals prior to the expiration of the aforesaid plans are available for a fee:
Affiliates who withdraw within 14 days after investing face a 25% penalty.
Affiliates who leave their plan after 14 days but before it ends are charged a 15% cost.
Commissions for Recommendation
BitPlam gives referral commissions on deposited monies at three recruiting levels (unilevel):
level 1 (affiliates individually recruited) – 5%
2% level 2 1% level 3 1%
BitPlam affiliate membership is completely free.
A $25 deposit is required to fully participate in the associated income opportunity.
BitPlam accepts investments in USD and a variety of cryptocurrencies.
Conclusion
BitPlam is a straightforward low-effort Ponzi scam.
BIT PLAM LTD is a firm made up of exceptionally competent traders that mostly trade in the cryptocurrency markets using professional instruments.
BitPlam blends the cliché of “crypto trading” with a templated website and a phony UK incorporation.
As far as Ponzi schemes go, this is as generic as they get.
There is no proof that BitPlam is trading cryptocurrencies or anything else.
Regardless, no one earning 5% a day is going to sell you access for $25.
New investment is the sole verifiable source of revenue entering BitPlam.
BitPlam is a Ponzi scam since it uses fresh investments to pay out daily returns.
As with other MLM Ponzi schemes, once affiliate recruiting is exhausted, fresh investment will dry up.
This will deprive BitPlam or ROI of revenue, eventually leading to a collapse.
Ponzi schemes’ logic ensures that when they fail, the vast majority of participants lose money.
